Sam Hinkie steps down as GM of the 76ers in the form of a 13-page letter to the team’s board of directors.
When it comes to resignations, Sam Hinkie is no Bill Belichick.
While the latter resigned from his job in a typically curt fashion — HC of the NYJ — the former resigned from his post with the Sixers in a 13-page manifesto that reminds readers of Jerry Maguire’s ill-fated mission statement.
And Hinkie actually name-checked Belichick — and loads more — in his memo to Philly’s board members informing them of his decision to step down as GM of a franchise that took tanking to new lows.
Here are some of the highlights from his missive:
— He referenced Abraham Lincoln and Warren Buffet in successive paragraphs
— While he noted a number of NBA players, coaches, GMs and executives, he also dropped these names:
Max Planck (Nobel Prize winning physicist)
Howard Marks (Author/investor)
Seth Klarman (Billionaire, referenced twice)
Charlie Munger (Berkshire Hathaway vice chairman, referenced twice)
Elon Musk (Tesla founder)
James Clerk Maxwell (physicist)
Bill James (Baseball statistician)
Bill Belichick (Patriots coach)
Jeff Bezos (Amazon founder, referenced twice)
Phil Tetlock (Political science writer)
Steven Johnson (Author)
Warren Buffett (Chairman and CEO of Berkshire Hathaway, referenced three times)
— He tried to negotiate a trade with Miami while in the hospital after his wife gave birth to twins. He lost out on Joel Anthony and two second round picks to Danny Ainge and the Celtics. It still bothers him.
— He asked the club’s board of directors — who, outside of Will and Jada Smith and James Lassiter are made up of investment bankers and CEOs — to view the team as an investment.
If you want to have real success you have to very often be willing to do something different from the herd. A few examples might help.
Step away from basketball and imagine for a moment this is investment management, and your job is to take your client’s money and make it grow. It’s January 1, 2015 and the S&P 500 is $171.60, exactly the same price it has been since January 1, 1985. No fluctuation up or down. Flat every single day. And your job for every day of the past 30 years is to make money for your clients by investing. What would you do?
In the NBA, that’s wins. The same 82 games are up for grabs every year for every team. Just like in 1985 (or before).
Little condescending, maybe? Just a little?
— Speaking of the investors, if they’re worried about losing on their investment, don’t worry, Hinkie, says, Scott O’Neil will squeeze every penny out of the fans.
Lastly, this letter will only speak to the part of the business that I’m today’s steward of: the basketball team and its attendant operations. With Scott O’Neil running our business operations, you are in good hands. I can assure you that when your team is eventually able to compete deep into May, Scott will ably and efficiently separate the good people of the Delaware Valley from their wallets on your behalf. Worry not.
Bet Mr. O’Neil loves that characterization.