Dan Gilbert Tried to Pay Chauncey Billups 50% Less Than What NBA GMs Make to Run Cavs
Over the past few weeks, it seemed as if former NBA player Chauncey Billups would be the next general manager of the Cleveland Cavaliers, but he suddenly took his name out of the running and kept his promise to play and coach in Ice Cube’s BIG3 league instead.
It was a shocking decision, until all the details came out as to why he turned it down. While most assumed it was because LeBron James might bolt in free agency again after the 2017-2018 season, it ended up having more to do with money.
“The Cleveland Cavaliers offered former NBA All-Star Chauncey Billups what is viewed in NBA circles as a below-market salary of $2 million annually for the role of serving as President of Basketball Operations, league sources told ESPN.
According to sources, the team’s initial offer was $1.5 million. League sources tell ESPN $4 million is typically the starting point of what an individual in that role should earn. Sources maintain financial compensation wasn’t the only factor as to why the 40-year-old Billups turned down the job on Monday after weeks of deliberation, but it played a part.”
To put this into perspective, the Los Angeles Lakers hired Rob Pelinka, who also has no front office experience, and will pay him $5 million a year to be the GM of their team.