The riches come quick with an NBA lifestyle, but they can disappear in the blink of an eye. That’s why Byron Scott has asked the judge to lower his alimony payments.
Scott was recently the coach of the Los Angeles Lakers, where he was pulling down $4.25 million per year for his four-year deal. He was relieved of his duties after failing to sniff the playoffs in two years. His Lakers team never won more than 21 games in a season.
Since he no longer will receive that hefty paycheck, Scott has petitioned the court to at least temporarily suspend his alimony payments (sometimes referred to as “spousal support” or “maintenance”). He is currently paying Anita Scott, whom he has known since high school, $26,000 per month.
In Florida, the court looks at a variety of factors when determining alimony payments. This includes the financial situations of both parties, how long the marriage lasted, and “[t]he standard of living established during the marriage,” according to Florida Statute 61.08.
However, when the circumstances of the parties change substantially, the court will review the payments and modify them as necessary. That gives Scott a solid argument. His reduction in monthly income from approximately $300,000 per month to $50,000 is quite drastic.
Scott is also arguing that he won’t be able to find comparable employment this season. NBA teams have their coaching positions filled at this point, and most television stations have already named their analysts.
The court could possibly look at what assets Scott has on hand. He enjoyed a long playing career during which he made substantial sums of money. He spent 11 seasons playing for the Lakers as well as two with the Indiana Pacers and one with the Vancouver Grizzlies. Scott has also held four NBA head coaching positions over the last 16 years.
It should be noted, however, that professional basketball players didn’t earn nearly the amount of money they do now. He likely doesn’t have the assets one would assume an ex-NBA player could have.
If your alimony payments have become unduly onerous due to a change of circumstances, there is the possibility of relief. The attorneys at the Men’s Divorce Law Firm understand these issues. Contact us today to see how we can help.