Pistons about to sell for less than Warriors

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Thumbnail image for pistons_logo.pngLast December, Forbes estimated the value of the Golden State Warriors at $315 million, yet when the team hit the open market, it sold for a record $450 million (although that deal has yet to be finalized).

So with the Detroit Pistons valued at $479 million, they should sell for…

Nope. They are not going to go for in excess of $500 million and may well sell for less than the Golden State price, according to Crain’s Detroit Business publication.

The bank hired to broker a sale of the Detroit Pistons and Palace Sports & Entertainment Inc. is seeking $500 million from potential buyers — a price industry insiders and likely bidders consider inflated by $100 million in this market, a source familiar with the situation said…

“Today, with the financial uncertainty, the tremendous dislocation of the Michigan economy, that would be an extraordinary price to be achieved,” Marc Ganis, president of Chicago-based sports consulting firm Sportscorp Ltd. “If it were two years ago, maybe.”

A few things are in play here. First is the regional economies — the Bay Area remains the heart of the technology industries in America and as such has a lot of money flowing around. Bluntly — there are a lot of rich people in the Bay Area right now. Michigan, still home of America’s car culture, is being hit hard right now. This is not the area for big sponsors or tons of people with extra disposable income.

Second, the Golden State price got inflated as insanely wealthy Larry Ellison was involved in the bidding, so groups that wanted to outbid him knew they had to go big or go home.

On the other hand, one of the key bidders for the Pistons is Mike Ilitch, who already owns the Tigers and Red Wings, so he knows the Detroit market well. And remember earlier this year he hired Tom Wilson, the longtime Palace Sports and Entertainment president (that’s the company set up by the late Bill Davidson to run the Pistons). So Ilitch knows exactly what the Pistons take in and expend.

Karen Davison, Bill’s wife who now owns the Pistons, is not going to lose money on this sale — Bill bought the team for $8 million in 1974. But she may make $100 million less than she hoped, as well.

Report: Knicks’ Joakim Noah to be suspended 20 games for violating league drug policy

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Joakim Noah hasn’t set foot on an NBA court since Feb. 4, and his season was all but ended when he had knee surgery at the end of February. It was a $72 million gamble that has not worked, and left New York with an anchor o a

Tomorrow it will be official he is done for the season, but not because of the Knicks or his injury.

During his recovery, Noah violated the NBA’s drug policy and will pay for a 20-game suspension, reports Adrian Wojnarowski at The Vertical at Yahoo Sports.

Noah tested positive for an over-the-counter supplement that is prohibited under the outgoing Collective Bargaining Agreement, league sources said.

Noah, 32, is expected to serve 10 games of the suspension to finish out the 2016-17 regular season and 10 games to start the 2017-18 season, league sources said.

The National Basketball Players Association’s investigation concluded that Noah hadn’t “knowingly or willingly” violated the policy and cooperated fully with the league’s probe, league sources said.

Over-the-counter supplements could be something put in his regular workout recovery drinks that he was unaware of, although we are unsure of the details.

Traditionally, the player has to be healthy enough to play before the league starts the suspension. Noah has been out for more than a month, but if a league doctor says he is healthy enough to play the then the clock on the suspension can start. But that is interesting.

 

 

Devin Booker drops 70 points for Suns in loss to Celtics (VIDEO)

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Phoenix Suns guard Devin Booker is just 20 years old. He’s a League Pass favorite, and indeed he should be a favorite in Phoenix for years to come. On Friday, Booker dropped 70 points — yes, 70 — in a loss to the Boston Celtics.

Booker’s 70 points is the best outing of the season. It also made him the youngest player to ever reach 70 points.

His final stat line, as you might imagine, was ridiculous. Booker shot 21-of-40 from the field, going 4-of-11 on 3-pointers and a whopping 24-of-26 from the free-throw line. The Suns phenom also grabbed eight rebounds to go with six assists.

Despite the loss to Boston, 130-120, it’s still an incredible milestone for Phoenix and for Booker. There’s a bright spot out there for the Suns.

Magic’s Aaron Gordon skies to finish amazing alley-oop (VIDEO)

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Aaron Gordon may not have had the best dunk contest this year — apparently drones and dunks don’t mix well — but the guy can still get up and finish with the best in the league.

As he did on this alley-oop against Detroit.

Elfrid Payton had to throw a lob that would get over Andre Drummond, but how many guys in the league can get that high, reach back and finish that? Damn.

Former Hawk Pero Antic’s celebration accidentally punches teammate in face in Eruoleague (VIDEO)

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Former Atlanta Hawk Pero Antic is now playing for Turkish powerhouse Fenerbahce, in case you were not aware.

Fenerbahce was facing Anadolu Efes in a EuroLeague game, it was tight late and former NBA player Ekpe Udoh was at the free throw line for Fenerbahce. He missed his second shot, but the rebound caromed out-of-bounds off an Anadolu Efes player. Antic was pumped.

Maybe a little too pumped.

Ouch.

That was Nikola Kalinic, by the way, the guy Antic now owes dinner to. Kalinic would like the dinner more than the hug and kiss he got from Antic right after the play.

Also, Anadolu Efes held on to win 80-77.

(Hat tip to Ball Don’t Lie.)