What is Gary Bettman's Net Worth?
| Name: Gary Bettman
Born: June 2nd, 1952
Company: National Hockey League (NHL)
Position: Commissioner
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Gary Bettman currently has a net worth of an estimated:
$30,000,000
Information:
Gary Bettman was born in Queens, New York City on June 2nd, 1952.
Bettman went to school at Cornell University, where he received a degree in Industrial and Labor Relations. Bettman then went on to study law at the New York University School of Law.
After working for a few years at the Proskauer Rose Goetz * Mendelsohn law firm in New York City, Gary Bettman was hired by the National Basketball Association (NBA) in 1981. Bettman quickly rose up the ranks of the league, eventually serving as a senior vice-president and general counsel to the league.
In 1993, the NHL was looking to hire their first commissioner. Bettman interviewed for the job and was officially named commissioner of the league on February 1st, 1993.
Gary Bettman had a clear mandate from the league - settle the NHL's labor unrest, expand into new markets and enhance television revenues.
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Bettman is an extremely unpopular commissioner amongst NHL players and fans. This can be attributed to Bettman's insistence on expanding the league into weaker markets in the southern United States and locking out the NHLPA multiple times. An entire season (2004-05) was wiped out thanks to a lockout, but Bettman and the owners ended up getting what they wanted - a hard salary cap. For this reason, Gary Bettman is popular with the league's owners and isn't going anywhere anytime soon.
Gary Bettman's compensation has soared since the 2004-05 lockout. League revenues have increased dramatically ($2.2 billion to $3.3 billion in seven years), while franchise values have increased nearly 47%. Bettman has reaped the rewards of the league's growth as well, as his compensation increased from $3.7 million in 2004-2005 to $7.98 million in the NHL's fiscal year ending June 30th, 2011.
Of this $7.98 million, $6,090,173 was base salary, $1,711,930 was "other compensation", $155,782 was deferred compensation and $25,868 came in the form of benefits. It's safe to assume that Bettman made as much or more money during the 2011-2012 fiscal year, as the NHL enjoyed record revenues. Source: Sportsnet.ca
Note: Bettman received $7.5 million during the 2010 fiscal year, meaning that he likely received a combined $23 million+ in compensation over the 2010, 2011 and 2012 fiscal years.
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The NHL and NHLPA are currently embroiled in another labor dispute.
The owners want a higher percentage of the revenue pie, similar to the structure that the NBA currently has in place. In order to accomplish this, NHL players would be forced to accept another wage rollback (their salaries were rolled back 24% as a result of the 2005 CBA).
The players, on the other hand, feel like they gave up enough in the last CBA and aren't willing to accept another wage rollback. The players, led by former MLBPA executive director Donald Fehr, are arguing that revenue sharing is the answer, as it will help out some of the weaker franchises in the league. The players are loathe to accept salary cuts when league revenues are soaring and some teams are making over $40 million per year in operating income.
The owners are hoping that the players will cave again, while the players are hoping that it is the owners who will blink first. If the owners are able to reduce the amount that they pay out to players, it stands to reason that Gary Bettman will receive another sizeable raise.
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Given Gary Bettman's soaring compensation over the past 4-5 years, it's a pretty good guess that his net worth is $30 million or more.
Notes:
Gary Bettman is worth 388 times more than the median US household
If Gary Bettman sold everything that he owned, he could fund the United States' deficit spending for 0 days.
Note: Net Worth changes calculated at 4 pm EST daily
The net worth pages are strictly for entertainment purposes only. The information on these pages is based on speculation and shouldn't be construed as being accurate in any way.
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