Report: Philadelphia 76ers sale “imminent”

3 Comments

UPDATE 12:58 pm: Via CSN Philadelphia, Comcast-Spectacor president Peter Luukko released a statement about the sale and situation:

“I can confirm that we are in discussions about the future of the team, but these discussions are confidential and we cannot talk about the details. At some point, we may have something more to say about these discussions, but we will not be making any comments at this point.”

That confirms they are taking place and are serious enough that Comcast-Spectacor is not blowing off the report. These sales are detailed and tend to take time, so we’ll see how close they really are. Also, once a sale is completed it is not finalized until approved by the NBA’s Board of Governors (the other owners).

11:35 am: In a surprise turn of events, the Philadelphia 76ers may soon have new ownership.

That’s the report from Henry Abbott at ESPN.

Philadelphia 76ers owner Comcast- Spectacor is in talks to sell the team to a group led by New York-based leveraged buyout specialist Joshua Harris, according to sources.

Negotiations are ongoing and a source with knowledge of the talks called a deal “imminent.”…

Harris, 46, co-founded Apollo Global Management, which invests primarily in distressed properties, in 1990. In Forbes’ 2011 billionaire rankings, Harris was reported to have a net worth of $1.5 billion. Other partners in the deal include private equity executive David Blitzer and former NBA player agent and Sacramento Kings executive Jason Levien.

Levien is still an active agent for players such as Kevin Martin and Udonis Haslem among others, but he would have to shed those to take on this new role. One would expect with his experience he would handle a lot of day-to-day operations for the new ownership.

Ed Snider, now 78, has controlled the team through his holding company Spectacor for five years. Spectator merged with Comcast, which is why Comcast-Spectacor is listed as the owner of the team.

Snider is a hockey guy — he is a founder of the Philadelphia Flyers and is in the hockey Hall of Fame. He also owns the Wells Fargo Center, where the Sixers and Flyers play. He is selling only the Sixers, who would be a tenant in the building.

It will be interesting to see what, if any, changes this means for the Sixers. They are a team that started to find its way back from mediocrity last season, taking a leap forward under coach Doug Collins (and with an actually healthy Elton Brand in the middle). They made the playoffs but lost in the first round to the Miami Heat.

Report: Donatas Motiejunas not reporting to Rockets over $6 million

Donatas Motiejunas, Kenneth Faried
Leave a comment

Donatas Motiejunas — with his agent B.J. Armstrong — has backed himself into a bit of a corner.

The restricted free agent signed a four-year, $37 million offer sheet with the Nets, but it had a lot of favorable terms (the final two years are not fully guaranteed, for example) so as one would expect the Rockets matched it. However, under NBA rules the Rockets only had to match the base of the contract — $31 million worth — not the incentives. Which is what the Rockets did.

On Tuesday, Motiejunas did not report for his physical with Houston, and the $6 million is the reason, reports Calvin Watkins of ESPN.

Restricted free agent Donatas Motiejunas won’t report to the Houston Rockets because of a difference of nearly $6 million from the offer sheet he signed with the Brooklyn Nets, sources told ESPN on Wednesday.

Last week, Motiejunas signed a four-year, $37 million offer sheet with the Nets. The Rockets on Monday opted to match that offer. However, based on the CBA, the Rockets only had to match the principle terms of the offer sheet, which came to $31 million. The $6 million difference was to be paid to Motiejunas via incentive clauses if he played for the Nets.

Motiejunas may not like it, but the Rockets have almost all the power here. As of Thursday, the Rockets can pull the offer (even if they don’t, it will expire eventually on March 1), and at that point Motiejunas is a restricted free agent again. Right where he was before. The Nets can’t re-sign him to an offer now for another year. Other teams with the cap space aren’t interested (for example, Philadelphia has the room, but the last thing they need is another big man in the rotation). The Rockets would like him to play — as a big who can shoot the three he should fit well in the Mike D’Antoni system — but they are not going fail him on the physical and let him go for nothing (they can’t trade him until after the season, even if Motiejunas relents and signs the deal with the Rockets)

Motiejunas’ only play? Sit out. But at age 26, why is he wasting part of his short career window to make money playing basketball?

LeBron James: No statement by not staying at Trump-branded hotel

CLEVELAND, OH - OCTOBER 25: LeBron James #23 of the Cleveland Cavaliers looks on during the banner raising and ring ceremony before the game against the New York Knicks at Quicken Loans Arena on October 25, 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)
4 Comments

NEW YORK (AP) — LeBron James said he wasn’t trying to make a statement by not staying at a Donald Trump-branded hotel with the Cleveland Cavaliers, calling it a personal preference.

“It would be the same if I went to a restaurant and decided to eat chicken and not steak,” James said.

James and some other players didn’t stay with the team at the Trump SoHo in lower Manhattan before the Cavs’ game against the New York Knicks on Wednesday night. James said it was the first time in his career he hasn’t stayed with his team, though he said he rode the bus to the morning shootaround as usual with the squad.

James endorsed Hillary Clinton and campaigned with her in Ohio. Several of his teammates, including Richard Jefferson, Iman Shumpert and others have expressed their disappointment about Trump’s win.

“At the end of the day I hope he’s one of the best presidents ever, for all of our sake,” James said. “For my family, for all us.”

A team spokesman didn’t say how many players opted not to stay in the team hotel and wasn’t sure how James met up with the bus.

Coach Tyronn Lue, who stayed with the team, was asked if it was odd to have the players split up on the road.

“It’s not normal, but considering the circumstances that’s what we have,” Lue said. “But that’s not my main objective. My main thing is to try to get this team to stay on track and play the right way and try to get back on track by playing Cleveland Cavalier basketball.”

James wouldn’t talk about Knicks President Phil Jackson, who angered the All-Star forward last month by referring to his friends and business partners in an ESPN interview as a “posse.”

Boston’s Marcus Smart gets flopping warning from NBA

BOSTON, MA - OCTOBER 17:  Marcus Smart #36 of the Boston Celtics looks on during the second quarter of the preseason game against the Brooklyn Nets at TD Garden on October 17, 2016 in Boston, Massachusetts. 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 Maddie Meyer/Getty Images)
4 Comments

Boston’s Marcus Smart is one of the league’s more notorious floppers.

He was at it again Monday night against the Houston Rockets — and the league called him on it and gave him a warning.

It happened on the game’s final play — you were probably focused elsewhere, wondering how Al Horford could miss the game-winning layup. But watch Smart as he gets in position for the rebound on that shot.

https://platform.vine.co/static/scripts/embed.js

The referees didn’t buy it then.

This warning is barely a slap on the wrist. If — in his case, when — Smart gets caught a second time this season he will get a $5,000 fine from the league. Smart is making $3.6 million this season.

Happy birthday Larry Bird. We celebrate with some highlights.

3 Comments

Larry Bird — the Celtics legend, three-time NBA champion, three-time MVP, 10-time All-NBA — turns 60 on Wednesday.

We celebrate by looking back at his 60-point game March 12, 1985, against the Hawks (video above, and yes that game was played in New Orleans).

Want more Larry the Legend highlights? We got you covered.