Sixers part-owner Michael Rubin ‘outraged’ with 20% salary cuts
Philadelphia 76ers part-owner Michael Rubin is “angry” and “outraged” with the decision to slash salaries by up to 20%, according to Shams Charania of Stadium. Rubin was not believed to be part of the decision-making that went into this recent edict.
Teams around the league have also pondered the PR fallout that could come from following the Philadelphia 76ers’ footsteps regarding their salary-slashing strategy.
According to ESPN’s Adrian Wojnarowski, other NBA teams are wondering if adopting this same route could come back to bite them. Sixers part-owner Josh Harris was recently put on blast after his team announced it would slash salaries by up to 20% to ease financial hardships that come from the halt of the 2019-20 regular season.
Twitter was quick to react to the multi-billionaire’s course of action, quickly blasting his $3.8 billion net worth.
Sixers and New Jersey Devils employees (both under Harris’ ownership) were told the salary cuts were necessary to avoid layoffs.
Contracted employees, like members of the Sixers’ coaching staff and front office have been asked to participate in the program, but can’t be forced to partake. At-will employees, however, will have to take whatever cuts come their way.
Barring Mark Cuban of the Dallas Mavericks, no other owner has made outright donations to support the fight against the novel coronavirus. Mostly it’s been NBA players like Kyrie Irving, Rudy Gobert, Stephen Curry, and most recently Joel Embiid donating some of their money to their local communities.
Embiid recently pledged $500,000 to help those affected in Philadelphia, while also working to compensate those hurt by the 2019-20 hiatus.
That hefty donation, however, looks awful for owners like Harris who have more capital at their disposal and the means to compensate their employees.