Pacers get $33 million to stay in. Would you stay in Indy for that?

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Thumbnail image for Pacers_logo.gifDoes your city have an extra $33 million laying around?

Indianapolis does, apparently. Monday the city and the Pacers announced a new deal where the city will pour $10 million a year to cover operations at the Canseco Field House, plus put in another $3 million in the next few years in upgrades and renovations to the building.

In return, the Pacers promise not to leave, according to the Indianapolis Star. Or, they have to pay the money back if they do go. If they stay through 2019, they pay nothing back.

Canseco, like a lot of arenas, is taking a hit in this economy. Fewer tickets sold, less popcorn sold, fewer events coming through… you get the idea. And Canseco has been taking it on the chin.

The Pacers are one of those teams saying they are losing big money, about $30 million a year recently. They have an estimated $150 million in debt.

That said, owner Herb Simon and his brother bought the Pacers in 1983 for $10.5 million. A projected sale price was about $250 million. Even after the debt (which a new owner would take on some of) he clears a roughly $90 million profit. I could live on that.

Simon had pushed for years for the city to take on some of the operations cost of Canseco. He got his way.

But it brings up a debate that speaks to political preferences and how you view a sports team in a city.

Is it a citywide asset? Is a sports tea more than just entertainment, is it a part of the fabric of the city and an economic engine for people who work at an arena, who run bars nearby, who handle a number of ancillary businesses? That’s how the mayor of Indianapolis sees it.

“The mayor has said we need to protect the taxpayer and we need to protect the tax base,” said Robert Vane, deputy chief of staff and communications director for Mayor Greg Ballard. “This agreement does both.”

Or is a sports team a multimillion-dollar business? Owned by billionaires. Is this a cash-strapped city helping out a billionaire to make sure he doesn’t lose money on a poorly-managed investment? Considering the profit he turns if he sells the team tomorrow, it’s safe to consider it a business. And a good one.

Paul George disputes the idea that he’s already moved out of his house in Indiana

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Rumors spread on social media this week as moving trucks were found outside of Indiana Pacers star forward Paul George‘s house. But were they really his?

The user posted photos of giant moving trucks outside of a house in George’s neighborhood to Snapchat. People began speculating wildly that George, the subject of trade rumors for the last few weeks, could be on the move.

Now, the Pacers start has taken to Twitter to dispute the moving trucks as his. So whose were they?

According to George, they were there to move his neighbors.

Via Twitter:

Well I guess that settles that.

The other obvious answer is that they were George’s and NBA players simply move to new locations during the summer. Half of the NBA it seems lives in the Los Angeles area come the off-season, or at least train there, so seeing moving trucks outside of his house would not have been an anomaly if you ask me.

We are past the 2017 NBA Draft and still we have no deal for George. But the NBA off-season is long, and free agency is just around the corner. I am sure that we will see a new landing spot for George in the coming months.

Then we can send somebody on over to see if there are moving trucks at his house.

Hornets’ GM slips up, introduces Dwayne Bacon as Dwyane Wade

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It’s a slip that would have made Freud proud.

Charlotte had a good draft night. In the first round, Kentucky shooter Malik Monk fell to them at 11 and they grabbed him. In the second round, they took a smart risk with Florida State wing Dwayne Bacon.

Friday came the usual team press conference with the GM introducing his players and Charlotte GM Rich Cho made a mistake, introducing Bacon as “Dwyane Wade.”

I love Bacon’s reaction.

Cho instantly realized his mistake and laughed it off, then later said: “Actually, I think they have some similarities.” Hornets fans can only hope.

Kevin Durant trolls Westbrook, haters with cupcake hat — now topped with a ring

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Back when Kevin Durant and Russell Westbrook were breaking into the NBA together and learning how to win together, one of their veteran mentors was tough guy Kendrick Perkins. When Perkins thought someone was acting soft, he called that player a “cupcake.”

When news broke on the Fourth of July last summer that Durant was leaving OKC for Golden State, the NBA world freaked out. Except for Westbrook. He just posted one Instagram photo that day — a tiered tray of red, white, and blue cupcakes. It was meant as a subtle jab at Durant, but when word got out (via Lee Jenkins of Sports Illustrated) what it meant, Thunder fans embraced it and had cupcake signs and clothing made for Durant’s return to Oklahoma City.

Durant had the last laugh — he’s got a new hat with a cupcake on it, topped by a ring.

Well played Durant. Well played.

Another report Rockets “aggressively” trying to clear cap space to chase Chris Paul

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Daryl Morey is big game hunting. Again.

The Rockets, with James Harden running Mike D’Antoni’s offense, made a leap up to the NBA’s second tier last season — then landed with a playoff thud. The team should be better the second season in the same system, but to get past the Warriors, the Rockets need more talent.

Hence the Rockets are going to chase Chris Paul. That’s not new news to anyone paying attention, but Chris Haynes laid it out in more detail in on SportsCenter.

The Rockets need talent and Chris Paul is unquestionably that. He and James Harden could figure out how to play together.

The problem is money. Chris Paul is going to demand max or near-max money, so close to $30 million. The Rockets enter the summer with about $10 million. The Rockets need to clear cap space and are ready to deal so long as they don’t take contracts back. Lou Williams will make $7 million next season, so even moving him and Patrick Beverley is not enough to land a Chris Paul or Paul Millsap. Moving Ryan Anderson ($19.6 million) or Eric Gordon ($12.9 million) helps much more.

That Morey is being aggressive isn’t the news, the question is can he find a willing partner to lower some money off his cap and give him a sense of what is to come. CP3 is going to meet with a lot of teams, but the Clippers do have advantages and are the favorites to retain him.