Miami Heat Slash Salaries

by September 15, 2009

The good news is that no layoffs were made this time around: “While Erik Spoelstra’s staff will return intact, all will operate at salaries significantly lower than last season. Seeking to avoid the type of layoffs that cost the business side of the team’s operation about 20 jobs in May, Heat President Pat Riley instead asked those on the basketball side of the team’s operation to voluntarily accept pay cuts ranging from two percent to 20 percent. The cuts, which include everyone from the team’s media-relations staff to the scouting staff to the executive staff, will cost Spoelstra and Riley well into the six figures.”