Amare Stoudemire high five

Knicks pass Lakers as league’s most valuable franchise

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The return of the Knicks to prominence has led to a 12 percent jump in the value of the franchise, vaulting it over the Lakers into the top spot on Forbes’ rankings of NBA franchise value.

The Knicks jumped from a worth of $586 million to $655 million, based on increased season ticket sales and sponsorship deals in the wake of signing Amar’e Stoudemire and a return to basketball relevancy in the nation’s largest market, according to the report.

Isiah Thomas has ideas about how to spend that money, if James Dolan would just give him a call.

The Lakers value increased six percent to $643 million and they remain the second most valuable franchise. They are followed by Chicago ($511) million, Boston ($452 million) and Houston ($443 million). Your bottom three are the Memphis Grizzlies ($266 million), the Minnesota Timberwolves ($264 million), and the big “winner” is the Milwaukee Bucks ($258 million).

The value of the Heat jumped a league-high 17 percent after signing LeBron James; the value of the Cavaliers fell 26 percent to $355 million upon LeBron’s exit.

Also in this report are sown the seeds of future Collective Bargaining Agreement arguments.

The Players Association will note that overall the value of franchises rose one percent despite the down economy, a sign that the economics of the league are just fine. The owners will counter that 17 of the 30 franchises saw a decrease in value, a sign that the current system is not working for the majority of owners. The union will say this is a matter of revenue sharing among the owners. And the song remains the same.

Magic President: Season has been ‘incredibly disappointing’

NEW ORLEANS, LA - FEBRUARY 18:  Aaron Gordon #00 of the Orlando Magic competes in the 2017 Verizon Slam Dunk Contest at Smoothie King Center on February 18, 2017 in New Orleans, Louisiana. 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 Gerald Herbert - Pool/Getty Images)
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ORLANDO, Fla. (AP) — Orlando Magic president Alex Martins entered the season believing this was the franchise’s best chance to break into the playoffs for first time in the post-Dwight Howard era.

With 23 games remaining, Martins realizes that’s a longshot at best.

“The season to date has been incredibly disappointing,” Martins told The Associated Press. “We didn’t expect to be in mix for one of the top seeds by any stretch as we are progressing. Our hope was to get in there and make the playoffs.”

The team brought in two key veteran front-court additions to fuse with a young nucleus and hired an experienced playoff coach in Frank Vogel. The pieces seemed in place to end a five-year playoff drought.

But Orlando has the third-worst record in the NBA at 21-28 and have scrapped their dominant front-court plan, shipping Serge Ibaka to Toronto. Their slim postseason chances are quickly fading.

It’s other setback for 34-year-old general manager Rob Hennigan, who has not delivered on putting Orlando back into the playoffs during his nearly five-year tenure. The roster has been consistently re-made and three different head coaches have been hired during Hennigan’s tenure.

Martins expressed his excitement about the future of a young nucleus of players that includes Aaron Gordon, Elfrid Payton, Evan Fournier and now nearly acquired swingman Terrence Ross. He also spoke highly of Vogel, who was hired last May after a successful run with the Indiana Pacers .

But Martins didn’t mention Hennigan, who has one more year remaining on his contract.

When asked about the GM, the president said Hennigan’s future will be evaluated at the end of the season, along with the rest of the basketball operations staff.

“We feel that you have to have the complete book of business for the year to be able to evaluate them and we are going to do that,” Martins said. “Everybody is accountable to all of the results and we will evaluate our basketball operations staff extensively at the end of the year and make any decision that we need to make.”

Hennigan has not shied away from discussing his job security, acknowledging that things have not worked out as he had hoped to this point.

“The seat is always hot,” Hennigan said last week. “That’s something that comes with the territory and it’s just something that comes with the job. It’s a difficult job with a lot of complexities. We feel like we are figuring it out.”

But the results don’t seem to support Hennigan’s assertion that they are any closer to figuring it out than when he came aboard in June 2012. Draft picks haven’t panned out, free agents have been brought in and shipped out as quickly and there has seemed to be a revolving door at the head coaches’ office.

The latest fallout was the Ibaka acquisition that fell apart quickly. The Magic gave up a promising young player in Victor Oladipo and other assets in order to get Ibaka from Oklahoma City.

Ibaka, who entered the season on the final year of his contract, turned out not to be a good fit for the two-big men defensive scheme and wasn’t giving indication he would be willing to re-sign with the Magic this summer.

“We certainly didn’t want to put ourselves in that position if Serge were to make a decision to go elsewhere and not have anything to show for it,” Martins said. “We wanted to protect ourselves against that.”

There were reports Orlando would be active in trade market before Thursday’s deadline, but the only trade they ended up pulling off was the Ibaka-Ross deal. Martins said the team had hoped to add what it considered to be significant pieces as late as Thursday, but that it all fell through.

“As they say it takes two trade partners to make a deal happen but unfortunately nothing came to fruition,” he said.

Now the focus becomes finishing strong, eyeing what is being touted as one of the deepest drafts in years and then free agency. Martins anticipates having as much as $30 million in salary cap space to spend in free agency.

“If we can get lucky for the first time in several years in the lottery and get up into the top 3, obviously you have a difference maker in this draft,” Martins said. “We also expect to be aggressive in free agency this summer. So we will see.”

Report: Pelicans to waive Omri Casspi after broken thumb leaves them shorthanded

NEW ORLEANS, LA - FEBRUARY 23:  Omri Casspi #18 of the New Orleans Pelicans warms up before a game against the Houston Rockets at the Smoothie King Center on February 23, 2017 in New Orleans, Louisiana. 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 Jonathan Bachman/Getty Images)
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In his first game in New Orleans, coach Alvin Gentry threw forward Omri Casspi right into the rotation, and he scored a dozen points.

Casspi also broke his thumb and will be out 4-6 weeks.

Because there is so little time in the season and the Pelicans want to make the playoffs, they have decided to waive Casspi, reports Sams Charania of The Vertical at Yahoo Sports.

The idea is to create a roster spot to either grab someone waived by another team over the next few days or to get players on 10-day contracts.

Casspi will be a free agent this summer, and there are a number of teams that think he has real potential once unleashed outside what was going on in Sacramento.

Hawks sign Ryan Kelly, Lamar Patterson to multiyear deals

ATLANTA, GA - OCTOBER 13:  Tobias Harris #34 of the Detroit Pistons defends against a pass to Ryan Kelly #30 of the Atlanta Hawks at Philips Arena on October 13, 2016 in Atlanta, Georgia.  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 Kevin C. Cox/Getty Images)
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ATLANTA (AP) — The Atlanta Hawks have signed forward Ryan Kelly and guard Lamar Patterson to multiyear contracts.

Patterson provides depth across the perimeter, including at point guard. He previously signed two 10-day contracts with the team, most recently on Feb. 8. He has averaged 2.3 points in four games.

The 6-foot-11 Kelly has played in nine games with the Hawks after signing Oct. 31.

The Hawks now have their maximum 15 players. They traded forward Mike Scott to the Suns on Thursday, leaving two vacant roster spots.

Kelly and Patterson are expected to be available when the Hawks play Miami on Friday night.

Kevin Durant: Shaq’s constant ripping of JaVale McGee ‘childish’

SPRINGFIELD, MA - SEPTEMBER 09:  Shaquille O'Neal reacts during the 2016 Basketball Hall of Fame Enshrinement Ceremony at Symphony Hall on September 9, 2016 in Springfield, Massachusetts. (Photo by Jim Rogash/Getty Images)
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OAKLAND, Calif. (AP) — Golden State Warriors center JaVale McGee fired back at Shaquille O’Neal via Twitter after the former star-turned analyst posted on his verified account a disparaging photo of McGee with the words, “America meet Javale “BUM” McGee.”

O’Neal also responded angrily to McGee , saying he would “smack” McGee’s “bum a–.”

Warriors coach Steve Kerr and Kevin Durant backed McGee on Friday, with Durant calling Shaq “childish” while calling out the retired center’s free throw shooting and other flaws in his game during a Hall of Fame NBA career.

Shaq and McGee went back and forth in a heated Twitter spat late Thursday night, when McGee returned to a reserve role for the NBA-best Warriors as starting center Zaza Pachulia returned from an eight-game absence because of a shoulder injury.