Terry Stotts Press Conference

The Bucks borrowed $55 million from the NBA… last year

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The Milwaukee Bucks are a pretty good example of the market struggles facing smaller-market owners in the NBA. It’s not like owner Herb Kohl hasn’t hired good people. John Hammond and Scott Skiles are both very good at their respective positions. And it’s not like Kohl hasn’t spent money on players. From Michael Redd to John Salmons to Drew Gooden to Andrew Bogut, the Bucks have kept the purse strings loose to try and build a winner. But the market simply hasn’t been great without the ability to convince fans they can compete for a championship (with good reason). And as a result, the Bucks have lost quite a bit of money. And it would appear the Bucks have tapped the league for quite a bit of help to cover themselves for the red line present and future.

From the Milwaukee Journal-Sentinel:

U.S. Sen. Herb Kohl, owner of the Milwaukee Bucks, borrowed at least $55 million last year from the NBA’s credit facility, according to his Senate financial disclosure form.

Disclosure rules in the Senate do not require senators to disclose the exact amount of their investments, assets and liabilities. But the records indicate that Kohl borrowed at least $55 million in three separate loans in behalf of the Bucks.

The records also indicate that Kohl used some of the proceeds for investments by two of his trusts. That is allowable under NBA rules for those borrowing from the $2 billion credit facility.

via Kohl borrowed from NBA – JSOnline.

The Journal notes that taking the loan doesn’t necessarily mean that the team lost money. But considering Kohl has openly said the Bucks have lost money and their status in Forbes’ franchise-value list, it’s a pretty good bet. That’s quite a bit of cash for one franchise, and with Kohl deciding not to run for re-election in 2012, you have to wonder if eventually Kohl won’t be the one writing checks, or applying for loans on behalf of the Bucks.

It’s probable that Kohl would look to sell the team to a local ownership group to keep the team in Milwaukee, but considering that kind of red ink on the books, it might be difficult. Meanwhile, expect ownership to use this kind of information to squeeze the players, using it as evidence of their enormous losses over the past several years while the players continue to respond in saying that revenue sharing and other venues will solve the problem and no one really having a conversation about it.

It’s hard to pinpoint anything Kohl’s done to put himself in this situation. The Bucks have made their fair share of poor moves, player-wise, management-wise, coaching-wise over the past few years, but they’ve been respectable. Everyone points to the Knicks’ failures to win a title as evidence the system doesn’t favor big market teams, but a look at the larger markets’ black ink compared to cases like this shows there’s enough there to support the idea of the system being broken.

Only question is how long it will take to fix it.

(HT: IamaGM.com)

Timberwolves new CEO knows exactly what he’s getting into

This 2016 image provided by the San Francisco 49ers shows Ethan Casson posed at Levi's Stadium in Santa Clara, Calif. In 1998, Casson called sports teams all over the country asking to get a foot in the door. The Minnesota Timberwolves answered, giving him an entry-level position. Almost 20 years later, Casson returns to the franchise as the team's new CEO hoping to help a team that has struggled on the business side almost as much as it has on the court. (Terrell Lloyd/The San Francisco 49ers via AP)
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MINNEAPOLIS (AP) In the winter of 1998, Ethan Casson started calling professional franchise after professional franchise, begging them to get his foot in the door in any capacity.

One night, a human resources employee for the Minnesota Timberwolves picked up the phone and Casson talked his way into a meeting. He flew from the East Coast, met with several Timberwolves executives and, during the third quarter of a game against the Golden State Warriors, was offered an entry-level position on the business side of the operation at $24,000 per year.

“To think that what started as a cold call of me begging an HR person to let me come in and prove my worth 18 years later turned into me coming back as a CEO is amazing and certainly very special to me,” Casson told The Associated Press in a telephone interview.

Casson had to sell his car and some other possessions to raise the money to pay for his move from Boston to the Twin Cities, but the leap of faith has paid off. Six years after he left the Timberwolves to climb the ladder with the San Francisco 49ers, he is returning as CEO to breathe new life into one of the NBA’s struggling operations.

Timberwolves President Chris Wright remembered the impression Casson left in those first face-to-face meetings.

“I told him we’re going to find a place for you in this franchise because you are exactly the type of person that we want build this franchise around,” Wright said.

Casson’s first stint with the Timberwolves lasted 11 years. He worked his way up to senior vice president of corporate partnerships and met his future wife here before leaving for the 49ers in 2010.

When he arrived in the Bay Area, the once-proud 49ers were in the midst of an eight-year playoff drought. Their revenue had dropped to near the bottom of the league and they were playing in an outdated stadium that couldn’t compete with the shiny new ones popping up around the league. He leaves after helping to secure a 20-year, $220 million naming rights deal with Levi’s for the new stadium and rebuilding the franchise’s business operations.

The Timberwolves have not made the playoffs since 2004, the longest active drought in the league. That futility has contributed significantly to plummeting revenue and a dwindling season ticket base.

“I’m not saying it’s apples to apples, but I certainly feel I’ve been on a six-year journey that involved a lot of similar themes,” Casson said. “And I’ll apply all of those lessons to this next phase of my career.”

Casson replaces Rob Moor, the longtime CEO who stepped aside to work more closely with Wolves owner Glen Taylor’s other business interests. At 42 years old, Casson is part of a youth movement coming into the organization. Taylor also brought in 41-year-old New York real estate mogul Meyer Orbach and 35-year-old Chinese entrepreneur John Jiang as minority owners, and he hopes the three of them help bring a new perspective and energy to the business side that mirrors the vibe youngsters Karl-Anthony Towns, Andrew Wiggins and Zach LaVine are bringing to the team.

“I was very aware and respectful that taking on this role wasn’t about coming in and fixing things that were broken,” Casson said. “I don’t look at opportunities like this as somethings not working. I look at it as an opportunity to reset and plot out a different course or a different version of a course that moves the business forward.”

The challenges are real. The Timberwolves’ competitive dormancy buried them in a crowded sports marketplace. Tickets have been hard to sell and the NFL’s Vikings, the NHL’s Wild and MLB’s Twins are competing for the corporate dollars.

“I’ve been here for a long time,” said Wright, who is entering his 25th season with the Wolves. “I’ve tried to do it what I consider the best way for the franchise given all of the different sort of environments we’ve found ourselves in over the last 12 years as we’ve not been making the playoffs. And I think Ethan is going to just bring a completely fresh, new look to all of that and lead us in the direction we need to be as a club in the 21st century.”

The Wolves have one of the most promising young cores in the league, a brand new practice facility in downtown Minneapolis and have begun renovations on the dusty Target Center.

“There’s a lot of momentum in and around the organization that made it very exciting for me as a fan and now as someone who is coming back as CEO,” he said. “That will come and go. The renovation will eventually be complete. The team will stabilize and be competitive. You still have to make sure the business model is sustainable and drivable. That’s what we’re going to be.”

Joel Embiid arm wrestled Justin Bieber in a club? Yup. There is video.

THERMAL, CA - APRIL 16:  Professional basketball player Joel Embiid attends the Levi's Brand and RE/DONE Levi's presents NEON CARNIVAL with Tequila Don Julio on April 16, 2016 in Thermal, California.  (Photo by Jonathan Leibson/Getty Images for Tequila Don Julio)
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Joel Embiid is officially 7’0″ tall and 250 pounds, although when you see him in person now that number seems low, he looks thicker and stronger.

Justin Bieber is a 5’9″ waiflike person.

So of course, they arm wrestled at the club Hyde in Los Angeles. It went about as you’d expect. Here is some video, hat tip to Dan Devine at Ball Don’t Lie (arguably the best arm wrestler in the NBA media).

If you’re about to make an “at least Embiid didn’t get hurt” joke, be more creative.

Hopefully, we get to see what Embiid can do on the court this fall, where the competition will be a lot tougher than any Canadian pop star.

Larry Sanders asks in Twitter poll what team he should play for next season

Larry Sanders
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Larry Sanders is talking about getting back into the NBA. He walked away in 2015 to say he needed to deal with anxiety and depression, to find a balance in his life. Recently he told Alex Kennedy of Basketball Insiders this:

“But I feel like I’m in a much better place right now and I’m equipped to be able to put myself in that situation again.”

But where? A lot of teams could use an athletic big who averaged 1.4 blocks per game over the five years he was in the NBA, although with the conservative nature of NBA front offices they will not want to take much risk (Golden State reportedly thought about it and decided not to offer him a contract).

Sanders decided to ask Twitter where he should go, putting Twitter’s poll feature to good use.

The question becomes, where is there mutual interest from any of these teams?

If Sanders and his agent can win a team over in an interview, the contract will be small and the number of guaranteed years is not exceeding one (if even that). From the perspective of an NBA team, Sanders has to prove himself again.

But never underestimate how many chances big men get in this league.

(Hat tip Eye on Basketball)

Warriors’ just re-signed Anderson Varejao leaves Brazil to have back examined in USA

CLEVELAND, OH - JUNE 16: Anderson Varejao #18 of the Golden State Warriors warms up prior to Game 6 of the 2016 NBA Finals against the Cleveland Cavaliers 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 Ronald Martinez/Getty Images)
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Anderson Varejao was spending the past couple days helping his nation prepare to host the 2016 Olympics in less than two weeks, including carrying the Olympic flame.

#tochaolimpica #varejao #olimpiadas #rio2016 #brazil #sampacool 😍⚾⛳🎾⚽🏀🏁🏂🏆🏊🏇

A video posted by Marcus Bado (@marcusbado) on

But now he is on his way back to the United States to have his chronically bad back examined. Again. From Diamond Leung of the Bay Area News Group.

The Warriors re-signed Varejao on a one-year, veteran minimum contract where he will make $980,431. He is expected to back up Zaza Pachulia at the five spot, although his run would have been limited (which is good, he’s not terribly effective anymore).

A variety of injuries — back, Achilles, wrist — have meant the most games Varejao has played in a season since the 2010-11 season is 65. Last season that number was 53, the final 22 of it with the Warriors.

If Varejao can’t go or is limited, the Warriors may look around at other options. But the pickings are slim at this point.