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.

Bulls claim PG Kay Felder off waivers

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The Bulls’ point-guard position is a quagmire.

Kris Dunn and Cameron Payne are both injured (and not necessarily good). Jerian Grant is maybe an adequate backup pressed into starting. Ryan Arcidiacono is on a two-way contract.

Enter Kay Felder.

Bulls release:

The Chicago Bulls announced today that the team has waived forward Jarell Eddie and center Diamond Stone, and claimed guard Kay Felder off waivers.

Felder was waived by the Hawks, who acquired him in a salary-dump trade from the Cavaliers. Cleveland drafted Felder No. 54 last year, but ran out of roster spots this year.

Felder is only a moderate prospect. He impressed in the D-League, but at 5-foot-9, he has significant limitations. (His size also makes him incredibly fun to watch when he gets rolling.)

For Chicago, he’s a quite-noteworthy addition.

LeBron James: ‘I still got Pandora with commercials’

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Dwyane Wade revealed last year that LeBron James refuses to use his phone internationally unless he’s on Wi-Fi.

LeBron’s friend and new Cavaliers teammate again brought up that claim, and LeBron confirmed – then went even further about his own cheapness.

LeBron in a joint interview with Wade on ESPN:

No. I’m not doing that. I’m not turning on data roaming. I’m not buying no apps. I still got Pandora with commercials.

LeBron – he’s just like us!

As funny as that line is, keep watching to see LeBron hilariously explain how his hairline affects his interviews.

PBT Extra: LeBron as MVP and other NBA postseason award predictions

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Last year, Russell Westbrook had a historic season on his way to the MVP award, with James Harden and Kawhi Leonard right on his heels. But heading into this season, the dynamic for MVP — and many of the NBA awards — feels very different and wide open.

In this latest PBT Extra, I lay out my preseason predictions for every award — LeBron James for MVP, Ben Simmons for Rookie of the Year, and on down the list. There are a few leaps and surprises in there (predicting Most Improved or Sixth Man before the season is a crap shoot, so why not gamble).

Now the predictions season is over, let’s get on to the games.

Jazz: Dante Exum undergoing surgery after shoulder injury

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Jazz point guard Dante Exum hurt his shoulder in a preseason game – an injury that immediately looked like it could be season-ending.

Though Utah doesn’t outright say Exum is done for the year, this doesn’t engender much hope.

Jazz release:

The following is a medical update on Utah Jazz guard Danté Exum who suffered a separated left shoulder on October 6 vs. Phoenix.

After further evaluation, Exum (6-6, 190, Australia) has elected to undergo surgery to stabilize the AC joint of his left shoulder. The surgery is scheduled to take place Tuesday, October 24 in Los Angeles. Further updates will be provided when appropriate.

Exum (obviously) didn’t receive a contract extension before today’s deadline, so he’ll become a free agent next summer. After one full missed season already and two years of limited effectiveness, it’s not even clear Utah will extend Exum a qualifying offer to make him a restricted free agent. The former No. 5 pick almost certainly won’t meet the starter criteria, which means his qualifying offer would be worth $4,333,931 (down from $6,619,903 based on his draft slot).

The Jazz will start Ricky Rubio, and Raul Neto will be the primary point guard behind him. Wings Rodney Hood, Alec Burks, Donovan Mitchell and Joe Ingles can all share facilitating duties.

Utah will probably be just fine without Exum this season, which speaks to his marginal place long-term.