David Stern Rumors
Overtime Elite, which will feature up to 30 players ages 16 to 18 who will be paid a minimum salary of $100,000 along with bonuses and equity, is slated to begin in September 2021. If an Overtime Elite player doesn’t ultimately pursue a pro career, the league will pay them up to $100,000 towards college tuition. Overtime, which includes Durant, Carmelo Anthony and late NBA Commissioner David Stern among its investors, was founded in 2016. Ollie, who is still in arbitration with UConn over the $10 million he was still owed on his contract and isn’t permitted to discuss his exit from the program as a result, wrote an Op-Ed for The Athletic about his return to the basketball world.
Jerry Colangelo reflecting on his conversation with David Stern and the two main demands he had for him before accepting the role: “I basically said, yea i’ll do it but I have a couple conditions…One, full autonomy in terms of the selection process…and two, I don’t want to hear about a budget.”
Forty-one years later, Norm Sonju chuckles in memory of the phone call he received early in the Mavericks’ charter season, 1980-81, from then-NBA executive vice president David Stern. “What the hell are you doing?” “What do you mean?” “Coaches of other teams are calling us about the national anthem you do.” Actually the Mavericks were not playing “The Star Spangled Banner” before games but, rather, “God Bless America.”
Chamath Palihapitiya: We flew to NY and approached Allen&Co to be our banker and broach a meeting with the then commissioner, David Stern. Specifically, we had our eye on the Sacramento Kings with the goal of moving them to either Seattle or Las Vegas. The meeting rolls around and Stern sits and listens patiently about our ideas and desire to buy the Kings. At the end of our monologue, he asks one simple question: “How much do you think the team is worth?” We answer and float an admittedly low number (less than $300M). He looks around, slams his fists on the table and says: “Then you’re in the wrong f***ing meeting!” My friend and I fly home dejected. I’m now all-in on venture capital with no diversification to speak of and 100% anxiety ridden.
Before the pandemic and social unrest plagued the world, the NBA lost two of its icons in former commissioner David Stern and Kobe Bryant. And this time last year, a rift with its international business partner, China, started. The NBA has said that feud could cost $400 million. “I would say it’s been a challenging year,” Tatum said in an interview with CNBC. “It’s been our longest season in NBA history, and so much was thrown at us collectively as a league.”
On the loss of Kobe… Jeanie Buss: Tragedy on top of tragedy. Losing my mother, losing David Stern, and then, of course, our beloved Kobe Bryant and his daughter Gianna. Nobody could predict that, and it still hurts. It’s still fresh. … I’m so proud of the resiliency that this team has shown under all these circumstances that have been put on them, and added to them. The strength of our leadership, with LeBron James at the top being the captain of the team and being the leader, has brought us closer together. I couldn’t be more proud of how they represented Laker Nation.