Jordan takes big gamble on Bobcats

5 Comments

Michael Jordan’s gambling penchant is almost as legendary as his game. But his move last Friday is the biggest financial gamble of his life — he bought an NBA franchise.

Like a lot of small market teams, the Charlotte Bobcats are losing money, with ticket sales and sponsorship revenue down in this economy. The Bobcats have been racking up debt under former owner Bob Johnson, and according to a great story by Henry Abbott at TrueHoop, Jordan now has the responsibility for those problems.

One source close to the process says that two things changed late in the game (to make Jordan’s deal come together). One is that some of the minority owners under Johnson agreed to stay on with Jordan in the lead role (which is reflected in David Stern announcing that a majority of the team had been transferred). And, most importantly, Jordan finally decided to put himself forward as the person who would pay the many bills as they arose. It’s unknown if he brought in any new owners at all. But what sources agree on is that Jordan vastly increased his own stake in the company, to the point that Stern is now calling him the “principal owner.”

Joel Litvin, NBA President, League and Basketball Operations says “we expect that this transaction will value the Charlotte Bobcats between $275-290 million.” The Wall Street Journal explains that much of the purchase involves Jordan taking on debt.

As Abbott points out, for the last few years Jordan has had a fun toy to play with. He got to make decisions — he was the final say on all things on all things basketball — without having to pay the price. That fell to Johnson. When a minority owner decided not to chip in for his share of the losses, Johnson had to cover it. Jordan is estimated to be worth roughly $400 million — that’s a lot of money, but you burn through it fast if the team is losing $40 million a year.

Jordan is gambling again. Gambling that he can make good basketball decisions that will put a winner on the court and draw more fans. So far his record as a front office executive is spotty — he’s been fired once, but this year the team is playoff bound and exceeding expectations. Building this team cheaply will not be easy as it has traded away a lot of draft picks for upcoming years.

Jordan also is gambling he can find more investors. Some people to sit by, get to bask in the Jordan aura, and fork over big checks to do it. Checks to cover the operating losses and debt that are going to take a few years to get rid of (at best). Making that sale is going to be a lot tougher than selling Hanes T-shirts.

But, do you really want to bet against Jordan pulling it off?

Kristaps Porzingis leaves game with sore left knee

Getty
1 Comment

Everyone please hold your collective groans until the end.

On Thursday night, New York Knicks big man Kristaps Porzingis had to leave with an apparent left knee injury on a non-contact play against the Brooklyn Nets.

The play happened early in the third quarter when was guarding Brooklyn’s Rondae Hollis-Jefferson. After the play, Porzingis came up wincing on his left knee and immediately asked out of the game.

Via Twitter:

As a publication, the team had only released for that Porzingis would not return to the game against the Nets. For Porzingis’ part, it looks like he is feeling OK for now, although he has yet to be examined for a definitive prognosis. Non-contact injuries seem to give us pause given injuries to players like Derrick Rose, but there’s no reason to panic just yet. He did walk off by his own, so that’s heartening.

Let’s hope Porzingis returns to the floor after a bit of ice and some rest.

NBA “City” jerseys appear to leak via NBA 2K18, and they’re real ugly (PHOTOS)

SportsLogos.net
3 Comments

We’ve seen NBA jerseys leak accidentally in the past, and the new Nike uniforms haven’t been a well-kept secret.

The new jersey sponsor announced plans for four kits for each team, with the final one supposedly coming late in the year or early in 2018. Now, it seems we have our answer for what Nike’s “City” jerseys will look like for many clubs.

According to the guys over at SportsLogos.net, the popular video game franchise NBA 2K accidentally leaked many of the city jerseys for the teams. There is a huge group of photos for these jerseys, and many of them are absolutely terrible.

Here’s a smattering of some of the worst offenders (although “smattering” is a loose term considering there are a lot to choose from):

The Magic one is an iPhone background, Utah’s is ORANGE, Oklahoma City’s looks like an abbreviation for a regional auto parts store … it just goes on and on like this.

Out of the ones leaked thus far, I see only two universally good ones (although the staggered numbers on the New Orleans ones gives me pause):

What is happening in the NBA with these uniforms?

NBA players’ union joins other sports unions with universal declaration of player rights

Getty Images
2 Comments

WASHINGTON (AP) — Leaders from the NFL, NBA, NHL and Major League Baseball players associations have helped unveil a universal declaration of player rights that is designed to establish a new approach to governing sports and protecting athletes.

Among the 17 articles laid out in the declaration are rights to unionize and collectively bargain, express opinions freely and receive equal pay for equal work. Here are some of the principles set out in the Declaration:

  • Every player is entitled to equality of opportunity in the pursuit of sport without distinction of any kind and free of discrimination, harassment and violence.
  • Every player has the right to freedom of opinion and expression.
  • The rights of every child athlete must be protected.
  • Every player has the right to share fairly in the economic activity and wealth of his or her sport which players have helped generate, underpinned by fair and just pay and working conditions.
  • Every player has the right to organize and collectively bargain.
  • Every player is entitled to have his or her name, image and performance protected. A player’s name, image and performance may only be commercially utilized with his or her consent, voluntarily given.
  • Every player has the right to a private life, privacy and protection in relation to the collection, storage and transfer of personal data.
  • Every player must be able to access an effective remedy when his or her human rights are not respected and upheld. This is particularly crucial given the highly skilled yet short term and precarious nature of the athletic care

Executive directors DeMaurice Smith of the NFL Players Association, Michele Roberts of the National Basketball Players Association, Don Fehr of the NHL Players’ Association and Tony Clark of the Major League Baseball Players Association are part of the group of more than 100 unions that released the declaration.

The launch of the universal declaration of player rights comes on the heels of Colin Kaepernick and other NFL players kneeling or sitting during the national anthem to protest racial inequality and police brutality.

LeBron James, Dwyane Wade on time they faced off 1-on-1: “We was out there killing each other”

Getty Images
3 Comments

LeBron James and Dwyane Wade are good friends, they go together like peanut butter and jelly. They and their families hang out and ride banana boats together in the off-season.

They are also both incredibly competitive men.

So you had to figure they went 1-on-1 against each other at some point. It happened, once. Wade and LeBron talked about it on Channing Frye’s Road Trippin’ podcast(transcription via the USA Today).

James: “We played 1-on-1 one time in our whole life, and it was during the finals. Eastern Conference finals 2010 (they meant the 2010-11 season, that ECF was in May 2011). Our first year.”

Wade: “It was more-so to set a precedent for our teammates because we got our ass kicked the game before, Game 1 by Chicago. They tore us.”

James: “MVP Rose tore our ass up in Chicago, and we came in the next day, we was like we need to set the tone, so we was out there killing each other playing 1-on-1.”

Wade: “We never finished.”

James: “We never finished. We got to the point where (head coach Erik Spoelstra) blew the whistle, like bring it in.”

Wade: “Everybody was just watching us. We was going at it. We competitive, we was going at it, but we was setting a tone for this is how it’s gotta go. You gotta be able to go at this. We’re two of the best players in this game. We going at each other in the Eastern Conference finals right now. We out there killing each other, and this is what ya’ll better do tomorrow. Because we got beat on the boards by 20-something and we have to come with it, and we won four in a row.”

A 2011 Heat practice? There has to be video of this somewhere.

Miami did win that Eastern Conference Finals, but LeBron and Wade should have gone at it again during the NBA Finals, where the Heat lost to Dirk Nowitzki and the Mavericks.