According to a report from ESPN.com’s Chris Haynes and Marc J. Spears, the Cavaliers offered Chuancey Billups an annual salary of $2 million to serve as their president of basketball operations, and run the team’s front office.
The ESPN report says that the average salary for someone to start off in that position is $4 million. Billups was reportedly initially offered an even lower amount, at $1.5 million, which was about how much GM David Griffin was making before he left the organization.
This news comes just a few days after Billups bowed out of consideration for the job entirely. Could this be the reason why?
Billups spoke to ESPN’s Adrian Wojnarowski, saying that he respected Gilbert and the Cavs, but the timing just wasn’t right.
“As I have conveyed before, ultimately I would like to lead a team’s basketball operation and be a part of a successful franchise. But presently, the timing just isn’t right to delve into that role in Cleveland. In the meantime, I will continue to focus on broadcasting and my other business endeavors.”
So far this off-season, the Cavaliers have re-signed Kyle Korver, and signed PG Jose Calderon. Veteran F Richard Jefferson also announced he’s coming back for another season.
In the wake of Billups not taking the job, assistant GM Koby Altman has been running the team and acting as general manager until the Cavs find a permanent replacement.
[h/t Bleacher Report]