Report: Cavs lowballed offers to Chauncey Billups
Cleveland Cavaliers team owner Dan Gilbert apparently continues to shortchange his front-office executives - and would-be front-office executives - when it comes to compensation.
The Cavaliers' pursuit of Chauncey Billups for the role of team president failed partly because they made him a seriously below-market salary offer of $2 million per year, sources told ESPN's Chris Haynes and Dave McMenamin.
The initial offer from the Cavs was reportedly $1.5 million. The industry starting point for a team president's salary is $4 million, league sources said.
Billups instead chose to participate in the BIG3 league and return to ESPN as a TV analyst.
Gilbert also refused when Cleveland's former president, David Griffin, asked for a competitive raise in contract negotiations. Griffin earned less than $2 million per year. In addition, the Cavaliers barred Griffin from interviewing for other vacancies around the league.
The fallout saw Griffin - the architect of Cleveland's only championship in five decades - leave the franchise on the eve of free agency. However, the separation only occurred after other vacancies had been filled, leaving Griffin without a job.
Assistant general manager Koby Altman is running the Cavaliers on an interim basis until a full-time replacement can be found - apparently, at a heavily reduced price.