Unlike the sale 3,000 miles away in the Bay Area, there are no real secrets about the sale of the Washington Wizards.
When owner Abe Pollin died it was already agreed his estate was going to try to sell the team and the building to Washington Capitals owner Ted Leonsis. Today they cleared one of the biggest hurdles, agreeing to a price — a cool $550 million, according to the Washington Post.
The sources cautioned that the deal could fall apart if the sides fail to reach agreement on other, non-financial issues such as the operations of the arena in the period before Leonsis takes control. But reaching a price was critical to clearing the way for Leonsis’s eventual ownership, sources said.
“The financial terms are tentatively agreed to,” said one high-level negotiator for the Pollin side, who spoke on condition of anonymity for fear of upsetting the talks. “In every complex legal agreement, there are significant non-financial terms. The parties are negotiating those in good faith. I certainly hope we will cross the finish line. But no guarantees.”
If this goes through, Leonsis will be one of the biggest power brokers in Washington sports. He will own the Wizards, the Capitals and the state-of-the-art building they play in (which also hosts some concerts and other events), as well as the WNBA’s Mystics.
Leonsis and Pollin had plans for this sale since Leonsis bought the Caps 11 years ago. That’s why he stuck with the Capitals despite a horrible revenue deal with the late Pollin — the Capitals saw no money from the luxury suits or club seats in the building. In modern hockey and basketball, those two areas along with sponsorships are the key economic drivers. Regular ticket sales matter, but suites are the backbone.
With the Timberwolves trailing the Pistons by three and 6.2 seconds left, Jimmy Butler drew a foul on a 3-pointer.
Butler made the first two free throws then, just before he got the ball for the third, Reggie Jackson interrupted to talk to Stanley Johnson, who was in rebounding position. Butler missed the free throw, and Detroit won 100-97 after an intentional foul.
Butler said Jackson didn’t affect him, but Butler’s side eye during the delay at least appeared to speak loudly.
Kris Dunn had a nice weekend – 39 points, 13 assists and 11 rebounds as the Bulls beat the Hornets and lost to the Suns – punctuated by this dunk in Chicago’s 113-105 loss to the Suns last night.
T.J. Warren paid the price for Tyler Ulis overplaying a Robin Lopez screen Dunn cleverly never used.
ORLANDO, Fla. (AP) — The Orlando Magic has decided to end their annual summer league.
Magic president of basketball operations Jeff Weltman said Sunday the trend of NBA teams playing in the Las Vegas Summer League led to the decision end Orlando Pro Summer League. Orlando’s Summer League, which showcased rookies and young players, began in 2002.
Las Vegas will host all 30 teams for the summer league beginning in the summer of 2018. The Orlando Pro Summer League began as a 10-team tournament but there were just eight participating teams this past summer.
The summer league in Orlando, which is played in the Magic’s practice gym, was the only one of three summer leagues that did not allow fans to come in to watch.
Not that the Warriors needed him with Stephen Curry going off again, but Golden State was without Kevin Durant on Sunday in Brooklyn due to a sprained ankle.
Durant is officially day-to-day, but that brings up the question of whether he will be ready to go Wednesday night when the Warriors travel to Oklahoma City to take on his former team. Chris Haynes of ESPN asked Durant about it.
While some blowhards will talk about him dodging the Thunder, the Warriors course here is obvious — they do not want to rush him back for any game in November. Even one against Russell Westbrook. Ankles with stretched ligaments are easy to re-injure if not fully healed, and the Warriors don’t want this to be chronic and last through more of the season.
Durant is averaging 24.9 points per game, 7 rebounds, and 4.7 assists, and — with all due respect to fellow former MVP Curry — he is the best player on the Warriors. Maybe the best player in the world right now, period. Durant can score at will, and he had become a key part of the Warriors’ fifth-ranked defense blocking 2.2 shots per game (their offense is No. 1 in the league).