“The biggest basketball story right now is also a technology story and a personal finance story,” Steve Goldstein reports for MarketWatch. “It’s the report that Carmelo Anthony, currently of the New York Knicks, may join fellow Olympians LeBron James, Dwyane Wade and Chris Bosh on the Miami Heat next season.”
“Basketball has what’s called a salary cap, limiting the total pay that any one franchise can spend on its players. So in order for Anthony to join Miami, the team has to fit his salary in with the other stars,” Goldstein reports. “So what needs to happen first is for Anthony to opt out of his contract. Then, if James, Bosh and Wade all decide to opt out of their contracts as well, Miami can sign Anthony, and if they can get James, Bosh and Wade to accept lower salaries, they can have all four stars on one team.”
Goldstein reports, “Where Tim Cook and Apple come in. Per ESPN: ‘Sources say the 29-year-old was finalizing what is believed to be the biggest equity cash payout for a professional athlete in history as part of Apple’s recent $3 billion purchase of Beats Electronics. Sources briefed on the situation say James realized a profit of more than $30 million in cash and stock in the Beats sale after he had struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones.’ It’s this $30 million cushion that may lead James to consider taking less to woo Anthony.”
Read more in the full article here.
Related article:
It’s official: Apple acquires Beats Music and Beats Electronics for $3 billion – May 28, 2014
They’ll still lose next year – just like they will this year – because they have no heart. Best players, but not the best team.
The best “Team” is showing why they are up 3-1 I’m this series
They had enough heart to win two straight championships. If they have an off year, who cares? Every other team in the east would’ve loved to go to the finals to get spanked by the Spurs–better than not making the playoffs at all.
The NBA is a JOKE!
If they don’t use a puck and hockey stick, it’s not really a true sport.
Basketball is just dry land training for hockey players.
Interesting, though if that’s the case, where are all those basketball players come hockey season?
We pay our heroes (police/mil) nothing
We pay our teachers nothing
We pay our athletes millions
Makes sense to me.
Agreed. What also makes no sense is the big bucks fas pay to go to these games. I have enjoyed the post season, but never watched a game during the season. Same issues applies to all pro sports. Salary cap out to be $2k per game.
An extra 30 million is not going to sway James into a reduced contract. He is currently worth more than 150 million. His 6 year contract was for 110 million. His Heat salary is 16 million with an estimate 40 million a year in endorsements. Furthermore, stars of this caliber taking a pay cut reduces how much others will be paid.
Having more stars on your team does not guarantee a championship. If the Heat losses this, as it looks like they will, why would these 3 players make room for another?
LeBron, come up to NYC – in 2015 it is the place to be.
This is just as bad as the “what Apple should do with its cash” articles. It’s all invented by the author. James hasn’t said anything at all that would imply what the author is speculating. It’s just made-up crap.