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.

Cavs waive veteran Dahntay Jones, but he could return to Cleveland

CLEVELAND, OH - JUNE 16: Dahntay Jones #30 of the Cleveland Cavaliers drives to the basket against Draymond Green #23 of the Golden State Warriors in the first half in Game 6 of the 2016 NBA Finals at Quicken Loans Arena on June 16, 2016 in Cleveland, Ohio. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Ezra Shaw/Getty Images)
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On the last day of the regular season, the Cavaliers signed veteran wing Dahntay Jones. He played 15 games for them in the playoffs, including six games in the Finals. On Saturday, the Cavs announced that they waived him to stop his salary from becoming guaranteed, but ESPN.com’s Marc Stein reports that there’s a chance he could be back in Cleveland.

Jones isn’t much more than an end-of-the-bench guy at this point, but if Cavs GM David Griffin wants to keep the group that won the 2016 title together, there’s no harm in bringing Jones back as a veteran locker-room presence.

Report: Carlos Boozer reaches deal to play in China

LOS ANGELES, CA - APRIL 07:  Carlos Boozer #5 and Dwight Buycks #20 of the Los Angeles Lakers react to a laker foul during the game against the Los Angeles Clippers at Staples Center on April 7, 2015 in Los Angeles, California.  NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and condition of the Getty Images License Agreement.  (Photo by Harry How/Getty Images)
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For the first time since 2002, Carlos Boozer was without an NBA home last season. Following his 2014-15 campaign with the Lakers, he was not signed by a team last season, despite having interest from the Bucks and others. Now, he’s going to continue his playing career in China, according to international basketball reporter David Pick:

Boozer is 34 and at this point in his career, probably wouldn’t command much more than a minimum deal in the NBA, or any promise of extended playing time. In China, he can earn more money and have a more prominent role on a team. This is a win-win for him.

Judge refuses to dismiss sex suit against Derrick Rose

MIAMI, FLORIDA - APRIL 07:  Derrick Rose #1 of the Chicago Bulls looks on during a game against the Miami Heat  at American Airlines Arena on April 7, 2016 in Miami, Florida.  NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Mike Ehrmann/Getty Images)
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LOS ANGELES (AP) A federal judge has refused to dismiss a lawsuit alleging New York Knicks player Derrick Rose and two friends drugged and gang-raped a woman.

On Wednesday, federal Judge Michael W. Fitzgerald said a jury must decide whether to believe Rose’s contention that the woman, a former lover, consented to group sex at her home in 2013.

The case could now go to trial in October, when Knicks training camp gets underway.

Messages left for Rose’s agent, B.J. Armstrong, were not immediately returned Saturday.

According to court records, the woman had been drinking at Rose’s Beverly Hills, California, home, and a friend helped her return home, where she vomited and fell asleep.

The woman’s $21.5 million sexual battery lawsuit contends that Rose and the other two defendants entered her apartment the next morning and raped her.

The woman believes that an unknown drug was slipped into her drink at Rose’s home, and she “did not do any pregnancy tests or a rape kit because she was terribly ashamed and embarrassed,” according to her lawsuit.

Rose has denied the allegations, and his lawyer has labeled the lawsuit an extortion attempt.

Defense court filings contend that the woman consented to the sex acts, invited the men to her apartment and buzzed them in through security.

In denying Rose’s request to toss out the lawsuit, the judge said Rose’s version of events “could well convince a reasonable jury,” but there was substantial disagreement over the facts and a jury also could conclude the opposite.

Rose, 27, was the NBA’s 2011 MVP with the Chicago Bulls, but he has struggled with knee injuries and was traded to the Knicks in June.

Warriors add Willie Green as assistant coach

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It’s a good thing to be on the Golden State coaching staff — Alvin Gentry rode it to the head coaching spot in New Orleans, Luke Walton to his “dream job” with the Lakers, and quickly having “Warriors” on your resume is getting recognition like having “Spurs” on it around the NBA.

So good for Willie Green, the former NBA sharpshooter who will now be coaching a few other pretty good shooters in Golden State. Shams Charania of The Vertical on Yahoo Sports broke the story.

Green is a 12-year NBA veteran, who is getting his first NBA coaching job.

NBA veteran coach Mike Brown will be in the chair next to Steve Kerr next season in Golden State. Kerr keeps having to replenish his staff as they are getting better jobs elsewhere after having been around the Warriors’ organization.