Gretzky out as coach in Phoenix....maybe
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09-15-2009, 12:48 AM
Join Date: Feb 2002
Originally Posted by
I know he's deferred last year's salary, but why would you negotiate a huge 5 year contract and not take one penny from it?? Makes no sense.
Love of the game? Please. We're talking NHL, multi-million dollar contracts here, big business, not exactly pee-wee coaching for underprivileged czech kids who can't read good.
Gretzky's a shrewd businessman. There's a reason why his equity got converted into an all-cash contract.
Last report I saw showed Gretzky was owed $8 million in deferred salary.
Gretzky has plent of cash and doesn't need this gig for income purposes. I don't consider him to be a very shrewd business man. In fact, Gretzky's got a long history of unfortunate business propositions (Toronto Argos for one).
The deal he received from Elman was a no-brainer. 10% of an NHL franchise and free reign to do whatever he wants. Of course they tried to band aid a plan together rather than taking the lumps up front (Langkow for 2003 1st round pick in a move that set this franchise back 4 years and the reason I am not a fan of Cliff Fletcher) but that's another rant that I've already given.
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