Who says SEC filings are boring?

Yesterday, the details of former New York Knick coach Larry Brown's settlement with the team over the termination of his contract were first announced not on ESPN or even a blog like Deadspin.com, but rather in the Cablevision Form 10-Q (Cablevision owns the Knicks). According to the 10-Q filed November 8,

On June 22, 2006, the New York Knicks, a division of Madison Square Garden, L.P., notified the then-head coach of the Knicks, Larry Brown, that his employment had been terminated with cause pursuant to his employment agreement with the Knicks. Mr. Brown disputed the Knicks’ right to terminate his employment with cause and the matter was referred to the Commissioner of the National Basketball Association (“NBA”), who had the authority under the agreement to resolve all disputes. On October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18,500 of the disputed amount in connection with his employment agreement, which amount has been accrued for in the accompanying financial statements as of September 30, 2006.

According to this article on ESPN.com, the settlement was indeed first disclosed in the SEC filing and is actually for $18.5 million (the filing apparently states all dollar figures, even in the text, in millions).