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Archive for Tuesday, October 31, 2006

Brown, Knicks reach settlement on contract

October 31, 2006

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— Larry Brown and the New York Knicks reached a settlement on the remainder of the fired coach's contract Monday night, a week before NBA commissioner David Stern was expected to rule on the dispute.

"At my request, the New York Knicks and Larry Brown have agreed to a compromise resolution of the dispute between them," Stern said in a statement. "Neither the club nor Larry have any future obligation to each other and have assured me, in response to my direction and request, that there will be no further public discussion of the matter."

Terms of the settlement were not disclosed.

Brown was fired in June after going 23-59 in the first year of a five-year contract worth approximately $50 million. Madison Square Garden chairman James Dolan withheld payment of the rest of the deal, saying the Knicks had cause because the coach violated terms of his contract.

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