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Share the wealth Karl hands out bonuses after signing extension
Updated: Wednesday March 28, 2001 10:49 PM
ST. FRANCIS, Wis. (AP) -- George Karl is celebrating his new standing as the highest-paid pro coach without executive duties by spreading the wealth. Karl signed a two-year contract extension with the Milwaukee Bucks on Wednesday worth a reported $14 million plus a small slice of the franchise. Agent Bret Adams said the deal's final hangup was determining how Karl could distribute bonuses out of his paycheck to more than 60 members of the team's staff. "I represent a lot of guys in this business and I've not seen a situation where a guy will take a portion of his contract and provide bonuses to everyone in the organization," Adams said. It's believed Karl will hand out bonuses totaling well over $100,000 in the next two weeks to everyone from assistant coaches to salespeople in the front office. Terms weren't revealed, but a source with knowledge of the deal said the two-year extension is worth $7 million per year and also includes 1 to 2 percent of the franchise that is valued at $125 million. The former Seattle SuperSonics coach also could earn another $1 million per year in performance incentives based on 50-plus victories, divisional, conference and league titles, according to the source, who spoke on condition of anonymity. "George's leadership and his passion for winning have had a very positive effect on the Milwaukee Bucks and on the entire community," said Bucks owner Herb Kohl, a U.S. senator. "His basketball knowledge and his competitive spirit have helped restore our winning tradition." Karl, who turns 50 in May, is committed to the Bucks through the 2003-04 season. Escape clauses would allow him to leave earlier if the Bucks win the NBA title, if the job at Karl's alma mater, North Carolina, comes open again or if Karl decides to return to coach in Europe, according to the source. "I hope I'm serving the coaching profession well," Karl said. "The things that I try to get for the coaches is ownership and to elevate salaries because I think our job is a very difficult job. I don't know we're worth what we get paid, but if we're going to get paid this crazy money here, I think coaches should be given more respect. I hope I'm serving as an ambassador to coaches." Karl is in the third year of his original four-year, $20 million contract. The extension makes Karl the only coach, other than Miami's Pat Riley, to own stock in his team. Karl won't ever have to return his ownership stake unless he decides to coach another NBA team. Karl wanted to wait until the summer to sign the deal so it didn't detract from the Bucks' bid for their first Central Division crown since 1986. But the timetable was moved up because of rumors Karl was waiting for Mike Dunleavy to be fired in Portland so he could take the Trail Blazers' job. The deal was negotiated months ago, but final details were still being completed Wednesday. "I knew we were getting close when [general manager] Ernie Grunfeld put me on his speed dial," Adams said. "It was probably one of the most stressful yet congenial negotiations because we were double-teamed by a United States senator and a general manager from New York with a lot of experience negotiating contracts." The Bucks have enjoyed a turnaround under Karl, reaching the NBA playoffs in his first two seasons and they are having their best season in 12 years. Forward Glenn Robinson, a frequent target of Karl's tirades, said the coach's extension was great news. "Since he's been here, we've been in the playoffs. So that says it all right there," said Robinson, who was benched in the fourth quarter of a loss to Philadelphia on Monday night. "I hadn't been to the playoffs until Coach Karl came, and we've only gotten better."
And Karl's staff has gotten richer.
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