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Wednesday, March 28, 2001
Karl to distribute bonuses to Bucks' staff
Associated Press
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ST. FRANCIS, Wis. – George Karl is celebrating his new
standing as the highest-paid pro coach without executive duties by
spreading the wealth.
Karl signed a two-year contract extension with the Milwaukee
Bucks on Wednesday worth a reported $14 million plus a small slice
of the franchise.
|  | | Coach George Karl has the Bucks poised to win their first division title in 15 years. |
Agent Bret Adams said the deal's final hangup was determining
how Karl could distribute bonuses out of his paycheck to more than
60 members of the team's staff.
"I represent a lot of guys in this business and I've not seen a
situation where a guy will take a portion of his contract and
provide bonuses to everyone in the organization," Adams said.
It's believed Karl will hand out bonuses totaling well over
$100,000 in the next two weeks to everyone from assistant coaches
to salespeople in the front office.
Terms weren't revealed, but a source with knowledge of the deal
said the two-year extension is worth $7 million per year and also
includes 1 to 2 percent of the franchise that is valued at $125
million.
Karl also could earn another $1 million per year in performance
incentives based on 50-plus victories, divisional, conference and
league titles, according to the source, who spoke on condition of
anonymity.
"George's leadership and his passion for winning have had a
very positive effect on the Milwaukee Bucks and on the entire
community," said Bucks owner Herb Kohl, a U.S. senator. "His
basketball knowledge and his competitive spirit have helped restore
our winning tradition."
Karl, who turns 50 in May, is committed to the Bucks through the
2003-04 season. Escape clauses would allow him to leave earlier if
the Bucks win the NBA title, if the job at Karl's alma mater, North
Carolina, comes open again or if Karl decides to return to coach in
Europe, according to the source.
"I hope I'm serving the coaching profession well," Karl said.
"The things that I try to get for the coaches is ownership and to
elevate salaries because I think our job is a very difficult job. I
don't know we're worth what we get paid, but if we're going to get
paid this crazy money here, I think coaches should be given more
respect. I hope I'm serving as an ambassador to coaches."
Karl is in the third year of his original four-year, $20 million
contract. The extension makes Karl the only coach, other than
Miami's Pat Riley, to own stock in his team. Karl won't ever have
to return his ownership stake unless he decides to coach another
NBA team.
Karl wanted to wait until the summer to sign the deal so it
didn't detract from the Bucks' bid for their first Central Division
crown since 1986. But the timetable was moved up because of rumors
Karl was waiting for Mike Dunleavy to be fired in Portland so he
could take the Trail Blazers' job.
The deal was negotiated months ago, but final details were still
being completed Wednesday.
"I knew we were getting close when (general manager) Ernie
Grunfeld put me on his speed dial," Adams said. "It was probably
one of the most stressful yet congenial negotiations because we
were double-teamed by a United States senator and a general manager
from New York with a lot of experience negotiating contracts."
The Bucks have enjoyed a turnaround under Karl, reaching the NBA
playoffs in his first two seasons and they are having their best
season in 12 years.
Forward Glenn Robinson, a frequent target of Karl's tirades,
said the coach's extension was great news.
"Since he's been here, we've been in the playoffs. So, that
says it all right there," said Robinson, who was benched in the
fourth quarter of a loss to Philadelphia on Monday night. "I
hadn't been to the playoffs until Coach Karl came and we've only
gotten better."
And Karl's staff has gotten richer. Send this story to a friend | Most sent stories
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