Report: ESPN Asks Top Talent to Take Substantial Pay Cut

[Hans Sprungfeld]

They and the executives can take it as a dry run of higher marginal tax rates, if/where applicable.

Never even heard of Herbsteit, though out of respect, I did scroll up to do a spell check and removed the second "r" I had in originally.

I suppose I could care less, but I'll stop here.

 

[CL82]

I'd hate to be on your team.

The notion that we're all a part of team and have to share losses is only a reasonable proposition if the extra revenue is shared during good years. Often that's not the case.

 

[Wildgopher]

I haven't watched ESPN since the NCAA's got shut down. Don't plan on going back.

Same here. Probably won't watch a minute of it for a few more months at least.

 

[J187Money]

Hard part about the salary cuts - not for the talent, but for the exec team - is that the bonus pools will likely be 0% this year. Meaning that if you had a contract that was $X in salary with a 50% bonus opportunity - you already gave up 1/3rd of your total comp just by showing up (assuming you typically get paid out). Taking another 20/25/30% on top of that is rough. The EVP level folks are probably at 100% bonus pool. Meaning they are taking a 65% cut if they take a 30% salary cut.

 

[Waquoit]

Are they going to have a dividend this quarter? They can cut that first.

 

[imno1]

Hard part about the salary cuts - not for the talent, but for the exec team - is that the bonus pools will likely be 0% this year. Meaning that if you had a contract that was $X in salary with a 50% bonus opportunity - you already gave up 1/3rd of your total comp just by showing up (assuming you typically get paid out). Taking another 20/25/30% on top of that is rough. The EVP level folks are probably at 100% bonus pool. Meaning they are taking a 65% cut if they take a 30% salary cut.

Somehow I think they'll still get by. I doubt they'll have to resort to ramen

 

[Hans Sprungfeld]

That's what I'd first written, so looks like I 'corrected' to align w/someone else and ended up in a 'no good deed goes unpunished' thing. Might as well have called him Herb Street, but then I'd have to have heard of him. He's probably worth every penny.

 

[CL82]

@Stlh8L8ner just read your name phonetically... Well done.

(Me too.)

 

[StllH8L8ner]

@Stlh8L8ner just read your name phonetically... Well done.

(Me too.)

Ha, the 30 for 30 was on as I was creating my profile...I respect him as a college player...but I still hate him for crushing our hopes and dreams of a Final 4 in 1990.

 

[CL82]

Ha, the 30 for 30 was on as I was creating my profile...I respect him as a college player...but I still hate him for crushing our hopes and dreams of a Final 4 in 1990.

Meh he was a jackass even his own teammates didn’t like him.

 

[the Q]

Are they going to have a dividend this quarter? They can cut that first.

continuing buybacks is way more egregious than keeping the dividend.

 

[StllH8L8ner]

They need top talent first.

Sunday Night Baseball with A-Rod not good enough for you? (I just threw up in my mouth)

 

[J187Money]

Somehow I think they'll still get by. I doubt they'll have to resort to ramen

That isn't my point. I'm saying - if you made $300K with a $300K bonus opportunity - and you knew bonuses would be $0, that's already a 50% decrease in your comp package. That really hits you hard. You probably wouldn't be so keen in giving up any of your base pay. Even if you refused to take a salary reduction, it isn't like you aren't contributing.

 

[Northbound]

Hard part about the salary cuts - not for the talent, but for the exec team - is that the bonus pools will likely be 0% this year. Meaning that if you had a contract that was $X in salary with a 50% bonus opportunity - you already gave up 1/3rd of your total comp just by showing up (assuming you typically get paid out). Taking another 20/25/30% on top of that is rough. The EVP level folks are probably at 100% bonus pool. Meaning they are taking a 65% cut if they take a 30% salary cut.

this is correct