If the players had decided to go on a wildcat strike, who would have been hurt the most? Owners or players?
I hope that the off season gives everyone a chance to take a deep breath and and cool down.
It will be very messy for the NBA, if Steling goes ahead with threats of lawsuits, and if Sterling’s estranged wife sues to keep her share of the team.
This isn’t over by a long shot. I hope the players realize how much they have to lose if they walk out next season over this. LeBron James suggested that could happen, if Sterling is still the owner when next season starts. Mrs. Sterling may well still be a co-owner, and some have said nobody in the Sterling family should own that team.
This whole situation is crazy. Multi-million dollar players really want to jeopardize their earnings because somebody said something stupid??? And they will jeopardize it if they are not happy with the eventual settlement????
1. Players have no understanding of "due process." Yet a player can easily appeal a substance abuse suspension by a variety of means and methods.
2. TIN FOIL HAT ALERT: What if Sterling staged the whole thing to save maybe $200 million or more in taxes? Would you be willing to risk being branded a "racist" for a few years to save that kind of money?
Sterling bought the Clippers for $15 million. The team is now worth anywheres from $700 million to maybe a billion.Yes, his cost basis ( cash in) has increased over the years..so let's say that if/when he sells he has a capital gains of $500 million. Roughly, 40% or $200 million of that goes in taxes.
There is an exception in the IRS capital gains rules. IF you are FORCED to sell an asset..say due to an eminent domain claim, then you are exempt from the capital gains tax (I don't know if California follows the IRC on this, or not..)
Think about it...he's almost a recluse now...he was a very finite lifespan...so, he gets a few months bad publicity, and in return he saves $200 mill...??????