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Sports Biz
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New York Knicks guard Stephon Marbury might have been known as the guy who made shoes affordable to all. But he’ll also be known as the guy who did the least for the most while the economy turned to mush.
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In fact, Marbury, who didn’t play a minute for the team this season, earned so much money for doing nothing that he could have purchased a pair of his cheap Steve & Barry’s Starbury shoes every nine seconds, with the money that the Knicks gave him.
ESPN.com first reported that the Knicks reached a buyout agreement on Tuesday afternoon and while we don’t know details of that buyout, we do know that it’s believed that Marbury is going to forgo between $2 million and $3 million in salary.
Marbury was scheduled to earn $20.8 million from the Knicks. So let’s play it conservative and say the final agreement is for $17.8 million. Using that number, we worked up some math that you will surely cringe over.
- Days since the start of the season: 119
- Salary per day: $149,579
- Salary per hour: $6,232
- Salary per minute: $104
- Salary per second: $1.73
Indeed, Marbury earned enough money to buy a pair of his Starbury shoes ($14.98 per pair) every nine seconds.
Assuming an average per capita income of $39,000 here in the United States and a $17.8 million settlement, Marbury earned what an average American earns for the year in less than 6 1/2 hours. He also earned the salary of 456 Americans by not playing a single minute for the Knicks.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes