Kevin O'Connor, Senior Vice President of basketball operations for the Utah Jazz spoke to the Association for Corporate Growth this morning.
He shared great stories about recruiting and negotiating today, drawing parallels between picking up players in trades, the free agent market and the draft to buying business. He emphasized preparation or due diligence as the key to both competing successfully for good players and for not overpaying.
He shared a story of JJ Redick who was drafted by the Orlando Magic in last year's NBA draft. In the weeks before the draft, Redick was anticipated to go in the top 8, but in the final days JJ ruptured a disk in his back and then, out commiserating with his buddies, got a DUI. While the Jazz were reportedly interested before the incident, the Magic did their diligence picked him up at number 11.
Kevin explained the luxury tax in the league. The luxury tax requires teams to pay a tax to the league of $1 per every dollar in aggregate salary above $62 million per team. The Knicks are presently paying $63 million in tax. The tax is split among all the teams in the league.
Overall, it was a great opportunity to hear some great sports stories, applied to business concepts and principles.
(Thanks to Matt Marsh who helped me pull together my notes.)
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