Las Vegas group "under contract" to buy NBA team if it builds arena

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LasVegasSign.jpgLas Vegas might be home to more than the NBA Summer League soon.

International Development Management LLC, has a deal to buy an NBA team if they can get an arena built in the city, Chris Milam, CEO of the group, told the Las Vegas Sun.

“We have an NBA team under contract,” Milam said, declining to name the franchise. But the deal will take effect only if “other pieces of the puzzle fall into place: One of those pieces will be that a building (arena) is approved,” he said.

It’s a chicken and egg scenario — no NBA team will commit to move to Vegas until there is a new arena, but you can’t get money for an arena until a team is committed. If Milam and group really do have a deal with an NBA team, it breaks the cycle. But there are always contingencies built into this kind of deal.

There are a number of NBA teams up for sale right now — Detroit is on the block, Golden State is about to announce a new owner, allegedly so is New Orleans, Indiana has been rumored but just struck a deal with the city — and others that could be had for the right price.

The NBA establishment has been slow to embrace Vegas, because of the gambling and potential distractions to visiting teams. Some owners and execs do not like it. But money talks. If you can build a new state-of-the-art arena that will generate revenue, the other concerns will fade away.

It’s always about the money.

The key to Milam’s plan to build that arena is persuading Clark County to revive its redevelopment area and fund the arena using what is known as tax-increment financing.

It’s clear why this went public — pressuring the county to back their plans. He makes is pitch Aug. 4.

What he wants is a Redevelopment Agency to be reconstituted. The way that financing works is this: The state agrees to keep getting the exact amount of property tax from a piece of land that it is getting now for the coming 20 years (or longer). Then it sells bonds and uses the money to upgrade the property (in this case with a new arena). The increased property taxes from that improved land go to pay off the bonds. It’s a process to pump money into blighted areas that might otherwise struggle to get investments, but it is a system that has been abused in some places.

The property being discussed in Vegas used to be home to a waterslide right in the heart of the city, on the Strip toward downtown from most of the large hotels.

Vegas has grown in recent years and is a large metropolitan area now. It also has big businesses here, plus you can bet casinos would buy suites to entertain high rollers. But there are still questions about how well a town of transports would rally around a major league sports franchise.

Aging Pelicans’ owner couldn’t remember Anthony Davis’ name in deposition

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Tom Benson, the now 90-year-old owner of the New Orleans Pelicans and the NFL’s Saints, a few years back changed around the succession of control of the team after his passing — his wife Gayle will take control. Rita Benson LeBlanc, Benson’s granddaughter and former handpicked successor, sued saying Benson had been manipulated. After meeting privately with Benson, a judge ruled that while Benson suffered some “cognitive impairment” he was capable of making his own decisions and that Gayle remained the successor.

Benson has been sued multiple times since then, including by former Saints employee Rodney Henry, and the then-89-year-old Benson was deposed in that case last year.

Someone broke the gag order and sent a copy of the deposition to The Advocate of New Orleans, and it shows that Benson’s mental acuity is fading. He couldn’t remember who Anthony Davis was by name.

During another set of questions, apparently aimed at establishing how close Benson and Henry had been, Benson was shown a photo of the two men with Pelicans star Anthony Davis.

“Who is this?” Williams asked.

“It’s Rodney and a basketball player,” Benson said. “Oh, hell, I forget his name. Let me — he’s a great player for us. Tell me his name, and I will tell you yes or no.”

When asked “is it Anthony Davis,” Benson said yes. The man is 90, I’m not sure that we should expect much. He had the foresight to bring in people to run his businesses — including his sports teams — and set up a line of succession for when he does pass. Smart moves.

Would Benson’s mental state impact potential changes coming to the Pelicans? Probably not. New Orleans’ GM Dell Demps bet big on going big in a league trending smaller, pairing Davis and DeMarcus Cousins. If that doesn’t work out, plenty of people around the league expect a house cleaning on the basketball side with the Pelicans. Benson’s mental state, whatever it may be, does not impact that.

The deposition leak came from an anonymous source (and anonymous email account, the paper verified the document before publishing). Who leaked it? It may be nearly impossible to find out, but only one side benefits from all this becoming public. And it’s not Benson.

K.J. McDaniels signs with Raptors for camp, can he make roster?

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A few years back in Philadelphia, the athletic K.J. McDaniels was a highlight factory and looked like a guy who could develop into a role player on the wing in the NBA.

Except, he never actually developed. Houston gave him a chance (three years at a total of $10 million), and it didn’t work out, then last season Brooklyn had him for 20 games, but they decided to move on.

Now Toronto is going to give him a chance, reports Adrian Wojnarowski of ESPN.

McDaniels’ agent later confirmed the news. This is a training camp, make-good contract for McDaniels. But unlike a lot of those contracts being handed out around this time, there is space on the Raptors roster for a player or two.

McDaniels will compete with Alfonzo McKinnie, Kennedy Meeks, and Kyle Wiltjer for one of the final roster spots in Toronto. Of that group, I’d most likely want to keep McDaniels because of the shot blocking and his potential — but his outside shot has to improve.

The Raptors can carry 15 on the roster and very possibly will until at least Jan. 10, which is the date these partially guaranteed deals become fully guaranteed for the season. Toronto is flirting with the tax line, and ownership is not going to want to pay the tax for this team, so if they do carry 15 they likely will cut it to 14 by that date.

Watch James Harden do the #DriveByDunkChallenge from a speed boat (VIDEO)

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The #DriveByDunkChallenge has been a fun distraction this summer. If you don’t know what it is, it essentially involves NBA players jumping out of their cars to dunk on regular folks on community basketball hoops.

Players like Boston Celtics wing Jaylen Brown have led the charge in the social media video fad, and now it appears that Houston Rockets guard James Harden is setting a new trend.

That trend? Doing the #DriveByDunkChallenge from dang boat.

Yup, seriously.

Via Twitter:

I can’t think of anything more baller than dunking on somebody from a speed boat, so congrats to Harden for winning the NBA offseason.

Photoshop no more: here’s Gordon Hayward in a Boston Celtics uniform (PHOTO)

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I suppose it will take some time to get used to seeing Gordon Hayward in a Boston Celtics jersey. This photo is the first step on that journey.

In a photo posted to Hayward’s Instagram on Wednesday, many of us got our first look at the former Utah Jazz forward in his new digs.

Specifically, the new Celtics Nike jersey in green with the GE patch on the left shoulder.

Via Instagram:

🍀🔥

A post shared by @gdhayward on

There are still some serious doubts about whether the Celtics will be able to unseat the Cleveland Cavaliers in the Eastern Conference, but perhaps they won’t need to wait for long. Rumors are starting to trickle in about LeBron James leaving Ohio, so maybe by the time we are used to seeing Hayward in Celtics green next season they will have less competition out east.