SportsBusiness Journal: Bettman, Daly Receive Huge Raises
Sorry if you've already seen this. (I've been away from my PC for most of the day.)
NHL owners rewarded Commissioner Gary Bettman and Deputy Commissioner Bill Daly coming out of the lockout, giving each of them a roughly $2 million raise for the fiscal year ending June 30, 2006, according to the league's tax return.
Bettman's salary rose 57 percent from June 2005 to June 2006, topping out at $5.9 million for the first fiscal year following the lockout, which ended in July 2005. The salary includes a $400,000 contribution to his retirement plan.
The return also shows that Bettman took out a $5 million loan from the league in September 2005. The loan is due in full in 2012 at the conclusion of his contract.
The league declined to explain why the loan was issued. It is Bettman's second loan from the league. His first -- for $1 million in July 2001 -- is due in full in June 2008.
Bettman's loan verifies his assertion that the league made a new commitment to him coming out of the lockout by extending his contract from 2008, when the $1 million loan was due, to 2012, when the $5 million loan is due.
Read the whole article here.
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