The Joe Johnson Sign-and-Trade

[JonInMiddleGA]

I hope they go 0-and-82.

[stevew]

Thus far the Hawks are a stunning 2 and 12. Johnson looks to be pretty good, avg 17 points and 5 assists. Meanwhile Diaw is averaging 10 points, 5 assists and 6 rebounds primarily off the phoenix bench. This trade is gonna end up being very ugly for the hawks, or at least it already appears to be.

[rkmsuf]

The guy that protested this deal was right. They could have gone 2-12 without Johnson.

[Pumpy Tudors]

Originally Posted by rkmsuf

They could have gone 2-12 without Johnson.

Well, I don't know about THAT.

[JonInMiddleGA]

http://www.ajc.com/sports/content/sp...610belkin.html

Belkin can buy out partners
Maryland judge rules terms of contract were breached

By TIM TUCKER
The Atlanta Journal-Constitution
Published on: 06/09/06

Estranged part-owner Steve Belkin is entitled to buy out his partners and take over the Hawks and Thrashers, according to a Maryland court ruling issued late this afternoon.

Montgomery County (Md.) Circuit Court Judge Eric Johnson found that the teams' seven other owners breached the terms of an agreement to buy out Belkin and thus triggered his right to buy them out at cost instead.

The judge also said in the ruling that his finding "will render moot all remaining claims" in the lawsuit, and he dismissed all other counts in the case.

[miami_fan]

http://www.ajc.com/hawks/content/spo...706owners.html

Hawks, Thrashers handcuffed

By TIM TUCKER
The Atlanta Journal-Constitution

Published on: 07/07/06

Rockville, Md. — Estranged part-owner Steve Belkin won't be taking over the Hawks and Thrashers anytime soon, but the teams could find themselves operating at a competitive disadvantage versus the rest of their leagues.

Those are the dual results of a court order issued here Thursday.

After a lively hearing, the Maryland judge who last month ruled that Belkin is entitled to buy out the teams' seven other owners at cost issued a stay of his ruling pending appeal. But the judge attached several conditions to the stay, one of which threatens to put Atlanta's pro basketball and hockey franchises at a handicap in bidding for players.

Montgomery County (Md.) Circuit Court Judge Eric Johnson ruled that during the appeal process the defendants — the owners other than Belkin — are to "not initiate the purchase, sale, trade or negotiation of any NBA or NHL player contract ... excluding contracts involving present or future draft picks and contracts for any other player with a contract duration of one year or less."

While attorneys for the teams were parsing and analyzing the judge's words late Thursday, the order apparently means that, during an appeal that could take at least a year, the Hawks and Thrashers are not to sign free agents to multi-year contracts or to make trades for players who have multi-year contracts.

Johnson said the restriction would not apply to players with whom negotiations already have begun, meaning, for example, the Hawks are free to complete their planned signing of free agent point guard Speedy Claxton to a multi-year contract.

As another condition of the stay, Johnson required the owners who have been ordered to sell to Belkin — a group led by Bruce Levenson, Ed Peskowitz and Michael Gearon Jr. — to post a bond of $11.4 million. Belkin had sought a bond in the hundreds of millions of dollars.

Belkin attorney Jack Fabiano argued that a huge bond was needed to protect Belkin against any potential drop in the value of the franchises during the appeal. Fabiano said Belkin needed protection against "not only the blunders" of current management, but against the possibility of reckless spending designed to saddle him with onerous obligations.
Those comments left a large contingent of Hawks and Thrashers executives in the courtroom fuming.

"I found the character assassination and the challenge to the professionalism, competence and integrity of myself and my staff to be, quite frankly, obnoxious," said Bernie Mullin, the teams' CEO. "And I was very heartened by the fact the judge saw through it and ignored it."

"It bothered me a lot; I was disturbed by it," Thrashers general manager Don Waddell said of the comments. "If you're criticizing me for wins and losses, I'll accept that. But when you're talking about trying to deceive the franchise and causing the franchise to lose money, to me that's really shooting at my integrity, and that's where it really hits home, and that hurts."

Mullin and Waddell were among seven high-ranking Hawks and Thrashers executives in court Thursday, all lined up on the side of the owners fighting Belkin. Also in court were Hawks general manager Billy Knight, Hawks coach Mike Woodson, Hawks vice president Dominique Wilkins, Hawks-Thrashers chief financial officer Bill Duffy and chief legal officer Scott Wilkinson.

"They've got everybody here except Speedy Claxton to try to influence this case," said Fabiano, a Boston attorney, who referred to the teams' executives as "the cheering section."

There was no interaction, not even apparent eye contact, between Belkin and any of the executives — a stark contrast to a court hearing last year when Knight famously refused a handshake from Belkin.

Knight declined to comment Thursday.

Johnson, the judge, ruled last month that Belkin is entitled to buy out the other owners because they breached the terms of an agreement to purchase his 30 percent stake. The other owners quickly filed notice of appeal to Maryland's Court of Special Appeals and asked Johnson to stay his ruling without requiring a bond, but they were happy with the size of the bond set Thursday. The judge said he arrived at the bond by taking 10 percent of the average of two appraisals of the value of Belkin's stake.

"I am pleased that the judge granted us a stay and am confident that we will prevail in the appeals court," Levenson said. "Our management team is going to be in place [during the appeal], and that's what we were fighting for today."

"I'm more confident than ever we'll prevail on appeal," Gearon said.

Belkin declined to comment.

Levenson and Gearon would not discuss the conditions of the stay.

At one point during Thursday's proceedings, the judge said he was going to order a provision that the teams initiate no transactions involving player contracts during the appeal. After Atlanta attorney Rob Remar, representing the owners fighting Belkin, said such a condition "would effectively destroy the ability of the teams to compete in their leagues ... and to continue as viable franchises," the judge called a recess and asked the two sides to agree on alternative wording.

When they were unable to do so, Johnson modified his order to ban transactions, other than with draft picks, involving contracts of longer than one year.

The purpose of the condition apparently is to prevent the teams from entering into long-term deals that Belkin would be obligated to pay if he winds up as sole owner .

As other conditions of the stay, the judge required that the non-Belkin owners continue to fund the teams' operating losses and that they make no changes in current management without Belkin's consent.

The judge said that if the owners "feel compelled to deviate" from any of the conditions of the stay, they should take it up with the appeals court.


How long before Bettman and Stern start making phone calls?

As far as the emboldened part, does that mean that the front offices of both the Hawks and the Thrashers should be looking for new jobs? I can't see how they can continue to work for Belkin after that one.

[bulletsponge]

Rockville, Md. — Estranged part-owner Steve Belkin won't be taking over the Hawks and Thrashers anytime soon, but the teams could find themselves operating at a competitive disadvantage versus the rest of their leagues.

The Hawks wernt operating at a competetive disadvantage the last decade?

[ISiddiqui]

I don't think either front office was laboring under the delusion that they'd still have a job if Belkin wins.

[miami_fan]

I am assuming that they can't sign Shelden Williams or Speedy Claxton since they are multi year deals right?

[ISiddiqui]

Originally Posted by miami_fan

I am assuming that they can't sign Shelden Williams or Speedy Claxton since they are multi year deals right?

From what the article YOU LINKED () said, they can still sign draft picks and players they have already been in negotiations with to multi-year deals.

[miami_fan]

Originally Posted by ISiddiqui

From what the article YOU LINKED () said, they can still sign draft picks and players they have already been in negotiations with to multi-year deals.

OOPS!!!!

[JonInMiddleGA]

So far the biggest specfici concern I've seen/heard from this latest development is that the Thrashers might not be able to negotiate a multi-year deal for Lehtonen because of it. Otherwise, it appears to be a potential handcuff on trades more than anything else for them, as they're limited to receiving players with one year left on their contract.

At this point, I'd prefer to see the respective leagues take over operation of the franchises until this thing is settled. Either that, or at least open some avenue that says if both potential owner(s) agree to approve a deal then that deal could go ahead. I realize that the odds of Belkin & Spirit, LLC agreeing on anything are remote, but I also believe that Belkin would understand that signing some younger players with high upside to longer term deals now insted of later could be in his best business interest down the road.

[stevew]

Al Harrington is hurt by this, as few teams, if any, have money under the cap to give him a contract greater than the midlevel contract exception, and it would be unlikely for the Hawks to be able to sign and trade him right now with these rules.

[ISiddiqui]

Yeah, you know, why the fuck didn't they include this provision and then say but if you want multiyear deals otherwise, if both parties agree, it's ok.

[GoldenEagle]

When did Blackadar retire? Did he go to sportsdigs.com?

[JonInMiddleGA]

http://www.ajc.com/sports/content/sp...712spirit.html

Hawks, Thrashers free to sign players
Judge eases restrictions resulting from owners' legal battle

By TIM TUCKER
The Atlanta Journal-Constitution
Published on: 07/12/06

A Maryland court this afternoon lifted the ban that it last week placed on the Hawks and Thrashers signing players to multi-year contracts.

The teams now are free to conduct their business under less stringent restrictions from the court.

In an order, Montgomery County (Md.) Circuit Court Judge Eric Johnson said that "upon consideration of the joint application of all parties to this action," he would amend the portion of last week's order that prohibited the teams from signing players, other than draft picks, to multi-year contracts while the ownership dispute works its way through the appeals court(s).

Under the new order, the teams are free to make transactions as long as they don't exceed the NBA and NHL salary caps and don't acquire a player with a contract duration of more than four years.

The order further stipulates that the Hawks can make any sign-and-trade deal as long as they don't acquire a player with a contract duration of more than four years. That apparently means the Hawks can sign a player to a contract of longer than four years for the purpose of dealing him away in a sign-and-trade deal.

The new order removes the cloud of uncertainty that had hung since last week over the Hawks' plans for a sign-and-trade deal involving their free agent forward Al Harrington. The Hawks now are free to do a Harrington sign-and-trade as long as they stay under the salary cap and don't take back a contract of longer than four years.

The conditions become part of the stay, pending appeal, of Johnson's earlier order that Steve Belkin has the right to buy out the teams' other owners at cost.

The new order says that any transactions that go beyond the new conditions – i.e., exceed the salary caps or result in the acquisition of contracts longer than four years – would require unanimous consent of the Atlanta Spirit board of managers. That basically means Belkin would have to agree with the other owners to make such transactions.

[JonInMiddleGA]

Time flies when you're having fun

Judge tosses Spirit's deal to buy out Belkin*| ajc.com
The feuding Hawks and Thrashers co-owners are still in business, now that a Maryland judge has scrapped an agreement between them saying the contract outlining how seven of the partners can buy out the eighth is too vague.

Boston-based partner Steve Belkin asked his partners to buy out his 30 percent stake in the teams in August 2005, a process that was supposed to take 125 days. The Spirit has been embroiled in a high-profile legal battle that has lasted more than three years.

The ruling, issued Monday afternoon, tossed out the initial purchase and sale agreement to buy out Belkin and keeps him in the partnership as a minority owner. The partners are now placed back in the same position they were in before August 2005.

Belkin, however, does have the right to appeal Monday's decision.

The eight-man ownership group bought the Hawks, Thrashers and Philips Arena operating rights from Atlanta-based Turner Broadcasting System in spring 2004.

The celebration was short-lived.

The group began squabbling over things such as who would speak publicly at events. Then Belkin wouldn't let the other owners into the Hawks' locker room or fly on the team plane.

The warring came to a head over how to trade for then Phoenix Suns' guard Joe Johnson, who has since become a three-time All-Star for the Hawks.

Belkin, who previously accused co-owner Bruce Levenson of player tampering, stepped down as the team's representative to the NBA and then asked that the seven others buy out his 30 percent share.

[Autumn]

Is this one of the reasons you get to legitimately change the team you root for?

[ISiddiqui]

I wouldn't begrudge anyone for doing so.

[stevew]

I forget, Belkin was the good guy here? Or the Bad guy? Hell if I care/Remember at this point. The Hawks have been fairly decent the last couple years, I think the Joe Johnson trade wasn't as bad as I thought it was going to be. I still think calling the Suns bluff on them matching was still a better move though.

[JonInMiddleGA]

Originally Posted by stevew

I forget, Belkin was the good guy here? Or the Bad guy? Hell if I care/Remember at this point.

At the time Belkin was the white hat to the majority of people I think. The Johnson trade wasn't the utter disaster that was anticipated so it's probably swung a little bit as far as Hawks fans go but I imagine Thrashers fans would still be swung toward Belkin since it's obvious the other group isn't going to shed Waddell.

[albionmoonlight]

It takes a special breed of ass to manage to make owning a major league sports team unplesant.

[JonInMiddleGA]

Originally Posted by albionmoonlight

It takes a special breed of ass to manage to make owning a major league sports team unplesant.

This seems more like a case of an elephant being a mouse designed by committee. And some disparate personalities thrown together by only the commonality of available cash.