It’s a trend, private equity firms snatching up NBA teams

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Despite what David Stern seems to think is a franchise-crushing financial system, and despite the threat of a protracted lockout, NBA franchises seem to be selling for record prices. And healthy profits in some cases for the former owners. The latest is the just agreed-to deal for Joshua Harris to buy the Philadelphia 76ers.

But there is a trend in the new buyers — many come from private equity firms.

It’s not a new trend, but over at CNN’s Fortune they broke it down.

This is the fourth time in recent years that private equity executives have purchased an NBA team. The first was in 2002, when the Boston Celtics were acquired for $380 million by a group led by Steve Pagliuca (Bain Capital) and Wyc Grousbeck (Highland Capital Partners).… Next up was the Golden State Warriors, acquired last year for $450 million by venture capitalist Joe Lacob (Kleiner Perkins).…

Most recently Tom Gores and his firm Platinum Equity purchased the Detroit Pistons, in a transaction marked by its unusual structure (the team technically is majority-owned by the firm, but since Gores controls the firm…).

Now we have the Philadelphia 76ers going to Harris, and I’ve heard word that another group of PE execs is beating the bushes for their own NBA franchise.

A lot of these guys, like Gores, specialize in buying and turning around distressed businesses. Does that make the NBA something that fits their business profile, or just a fun toy for really rich guys?

I’m not going to pretend to know what this means, if anything, for the league. Just pointing out a trend, but something to watch to see if there is an impact on the NBA.

Rich Cho on Trail Blazers getting swept: ‘Being a previous Portland GM, that didn’t disappoint me’

AP Photo/The Charlotte Observer, Jeff Willhelm
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In 2011, the Trail Blazers surprisingly fired Rich Cho after only season as general manager.

Cho – since hired and fired by the Hornets – seems to be holding a grudge.

John Canzano of The Oregonian:

That’s a sentiment many people hold toward their former employer. Few say so publicly. That Cho did indicates just how strongly he feels.

Under owner Paul Allen, the Trail Blazers have run through numerous executives. It’s part of the culture in Portland, and it leaves a lot of outgoing people bitter.

Current general manager Neil Olshey ought to be mindful of that.

Josh Allen’s old tweet: ‘I hate LeBron!!!!! #LeBronSucks’

AP Photo/Margaret Bowles
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Josh Allen, a quarterback from Wyoming, could be the No. 1 pick in tonight’s NFL draft. But his recently unearthed high school tweets – which include using the n-word with an ‘a’ at the end – are the sports story of the day.

And there’s an NBA tie.

Via Ryan Young of Yahoo Sports:

I hate LeBron!!!!! #LeBronSucks

— Josh Allen (@JoshAllenQB) June 7, 2011

Damian Lillard went down this same road with LeBron James, and they got past it.

But it would be a little more awkward if the Cleveland Browns – who have the Nos. 1 and 4 picks – take Allen. Then, Allen will face more scrutiny over this tweet – the most innocuous of the bunch.

Donovan Mitchell tells Thunder fans, Jazz teammates Utah not returning to Oklahoma City this season

AP Photo/Sue Ogrocki
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The Jazz blew a 25-point second-half lead in Game 5 last night, extending their series with the Thunder. Up 3-2, the Jazz are still in control. They can close out in Game 6 tomorrow in Utah. Blow that, and they must return to Oklahoma City for Game 7 Sunday.

But Utah rookie Donovan Mitchell is making it abundantly clear he doesn’t plan to do that.

Gabe Ikard of The Franchise 107.7:

Jake Edmonds of KUTV:

A confident proclamation that rallies his team or youthful exuberance run amok?

The narrative will be decided after Game 6. That’s just how this is done.

Report: Grizzlies moving toward keeping J.B. Bickerstaff as coach

AP Photo/Matt Slocum
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From the moment Robert Pera opted to retain control of the Grizzlies and end a prolonged ownership saga, it seemed interim coach J.B. Bickerstaff would remain Memphis’ coach.

Lo and behold…

Shams Charania of Yahoo Sports:

Bickerstaff did a decent job before the Grizzlies started tanking. But that was a small a sample, and his prior work as Rockets interim coach was uninspiring.

To be fair to Bickerstaff, those were both difficult situations. He’s an experienced assistant who might be ready for this challenge.

To be less fair to Bickerstaff, this looks like Memphis taking the cheap route. The Grizzlies didn’t appear to conduct much of a coaching search, if any. Nor has Bickerstaff been mentioned with other openings. It probably won’t cost as much to hire him as it would a more-established option.

Memphis seems to be operating under the belief that a healthy Mike Conley and Marc Gasol will right the ship next season. And they might. But given the age and injury history of those two, I wouldn’t assume they stay healthy and productive all season. Even if they do, they’d have to carry an underwhelming supporting cast – with limited room for upgrade this summer – in a deep Western Conference.

The Grizzlies want Bickerstaff, who’d be a first-time non-interim head coach, leading that team trying to win now? That doesn’t seem like the right risk-reward balance – at least until considering his salary, and even then.