Washington Wizards owner Abe Pollin says he is ready to dig deeply into his own pocket to win the NBA championship that has eluded him for three decades - even if it means incurring stiff financial penalties by exceeding the league’s salary cap for the first time.
“I’m sure [team President] Ernie Grunfeld and his staff will make sure that we take advantage of any potential opportunity that presents itself during the offseason,” Mr. Pollin, 85, said in an interview conducted this week via e-mail.
“With that said, I also believe NBA teams need to be financially responsible and the luxury tax is a well-designed penalty/reward system. The penalties are severe. While I will say that I don’t want to go over the luxury tax threshold, I also will not rule it out.”
NBA teams are penalized dollar-for-dollar for the amount they spend over the limit. The limit this season was $71.5 million. The Wizards, by re-signing stars Gilbert Arenas and Antawn Jamison this past offseason, left themselves about $1.5 million under the salary cap to spend on additional players. Because Mr. Pollin remained firm that the team not exceed the luxury threshold, Washington couldn’t match the Spurs’ two-year, $7.3 million offer to Roger Mason Jr. Thus the Wizards’ most improved player took his services to San Antonio, where he has started 59 of 67 games, averaged 11.9 points and hit four game-winning shots for one of the NBA’s best teams.
The Wizards, meanwhile, have experienced a free fall, going from the fifth best team in the Eastern Conference to the second worst in the NBA in less than a year. Instead of vying for playoff seeding, the Wizards own a 16-53 record and are in a race for the top pick in this summer’s NBA draft.
Mr. Pollin, who was setting up his franchise to contend for an NBA championship this season, instead has seen little return on his investment from the offseason, when he signed franchise cornerstones Arenas and Jamison to contracts totaling $161 million.
“It’s been a difficult year for all of us,” Mr. Pollin said. “We certainly had high hopes for this season, but injuries to key players have made it nearly impossible for us to have any consistency. This has been as frustrating as any season I can remember.”
The frustrations began even before the preseason. In September, Arenas - who two months earlier had signed a six-year, $111 million deal - underwent his third knee surgery since April 2007. He has yet to return. In training camp, starting center Brendan Haywood tore a ligament in his right wrist, underwent surgery and remained out.
Last season, Washington - fueled by Jamison, forward Caron Butler, Haywood, backup point guard Antonio Daniels and Mason - overcame Arenas’ absence and reached the playoffs. But Haywood’s injury and Mason’s departure left the Wizards severely short-handed.
After a 122-117 loss Nov. 22 to a New York Knicks team that dressed only eight players, the Wizards dropped to a franchise-worst 1-10. The team fired coach Eddie Jordan - who only two months earlier had received a one-year contract extension.
“It was very difficult for me to make that decision,” Mr. Pollin said of firing Mr. Jordan, whom he hand-picked in June 2003, 11 days before he hired Mr. Grunfeld. “Any time you develop a relationship with someone over a period of time, it’s very difficult when that relationship ends. Eddie was always an outstanding representative of our team and has conducted himself with class and dignity. I will always consider him my friend.”
After Mr. Jordan’s departure, director of player development Ed Tapscott took over as interim coach, but little has changed. Two more players - center Etan Thomas and guard DeShawn Stevenson - have gone on the injured list and are likely done for the year. The young replacements have been erratic. The Wizards are on pace to tie the franchise’s worst record in the 45 years that Mr. Pollin has owned it.
Still, Mr. Pollin said he has no regrets about dismissing Mr. Jordan.
“I don’t think you can have regrets,” Mr. Pollin said. “It’s not easy making tough decisions, but someone has to make them. Having been in this business 45 years, I’ve made my share of tough decisions.”View Entire Story
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