The good news: There are a lot of people who want to buy the Golden State Warriors — including the insanely rich Larry Ellison.
The bad news: None of them offered the $400 million plus that current owner Chris Cohan was hoping to get for the team.
Ellison, the owner of Oracle computers, put in the same $315 million bid he made last year, according to the Oakland Tribune. Other bids included “24-Hour Fitness founder Mark Mastrov, a group from China and the current minority owners,” the paper reported, but they were all in about the same ballpark.
The bids here signal a shift in the kind of people who are buying teams and why they are getting into this. Sure, it also signals bargain hunting in a down economy, but things change now because not many people consider things worth $300 million something you find in the bargain isle.
Bidders now are much more savvy about what they are buying — this is not just a toy, this is an investment of hundreds of millions of dollars. People putting that much in do a lot of homework — current value, market value, what they can reasonably expect to spend and make over time. For a couple decades owners just made money because the value of the franchise would go up — you could lose money every year but ultimately you were making it all back and a lot more when you sold. As Henry Abbott has pointed out in a great story at TrueHoop, that model has changed. New owners get that. They will not overbid just to own a team, not at these prices.
Which means Cohan may not get the numbers he hoped to see. It means he may hold on to the team for a while looking for that to change (which is a bad thing for Warriors fans and the franchise). Maybe he needs to sell, what with owing the IRS $160 million. Either way, now he sees what people are willing to pay.
And if Cohan needs the cash, there is one guy who could just write the check tomorrow.
Derek Fisher is out as coach of the New York Knicks.
In this latest podcast, NBC Sports’ Kurt Helin and Dan Feldman discuss the odd timing of that move — we expect another shoe to drop as to why. It’s not that Fisher was a great coach, but replacing him with Kurt Rambis mid-season is not an upgrade. And Luke Walton isn’t available until this summer.
After struggling to figure out what the Knicks are thinking, Helin and Feldman answer questions off Twitter from readers/listeners on the coming trade deadline including discussions of Blake Griffin, Jeff Teague, the Pistons, the Jazz, the Knicks, and more.
As always, you can listen to the podcast below, or listen and subscribe via iTunes, download it directly here, or you can check out our new PBT Podcast homepage, which has the most recent episodes available. If you have the Stitcher app, you can listen there as well.
Festus Ezeli has been a rock-solid backup for the Warriors this season, playing almost 18 minutes a night behind Andrew Bogut giving the team 7.5 points and 5.9 rebounds a contest. Golden State’s defense is 3.6 points per 100 possessions better when he is on the court, and he’s part of the team’s long-term plans.
But he’s going to be out for a while now following knee surgery, the team announced and as reported by Monte Poole at CSNBayArea.com.
The surgery is exploratory, which is why the Warriors say there is no timeline for recovery yet.
The surgery is on his left knee; it was his right one that had reconstructive surgery and forced him to miss all of two seasons ago.
This is a blow to the Warriors’ depth, but little has slowed their march this season. More Mo Speights is not ideal, but the Warriors can just go small more often and run teams out of the building that way.
Ezeli is a restricted free agent this summer and the Warriors would like to keep him on the roster and expand his role, particularly if they do not retain Andrew Bogut. The severity of this knee injury could impact Ezeli’s ability to earn a big contract this summer, but hopefully for him, it’s not that serious.
Choose your spin.
This is why Kevin Durant is leaving the Thunder. Russell Westbrook doesn’t respect him.
This is why Kevin Durant is re-signing with the Thunder. He and Russell Westbrook have so much fun together.
Tobias Harris signed a four-year, $64 million contract with the Magic just last summer.
Now, just 50 games later…
Marc Stein of ESPN:
I’m skeptical this is significant. Teams discuss trades for many players for a variety of reasons. That doesn’t mean the player is likely to be dealt.
Orlando in particular has a roster of players who cause significant debate about their value. It’s helpful to know what other teams think of Harris, and soliciting trade offers is a good method to learn his worth.
It’s more intriguing the Magic are looking to add experience. They should probably go the opposite route, but they’ve tried (and failed) for years to accelerate their rebuild. At 22-28 – four games and three teams from playoff position – now is not the time to seek shortcuts. Spend the rest of the season developing young players – and probably securing a higher draft pick in the process.
One of Harris’ best traits is his youth. He’s just 23. See what other teams would offer for him, sure. But, in all likelihood, it’s better to let him grow into the veteran Orlando needs rather than trading him for one when the rest of the team isn’t ready to win, anyway.
My guess is that’s what Orlando will do. Remember, always consider who has incentive to leak this information anonymously and what they’d be positioned to know.