It seemed like a good story — Alex Meruelo was to become the first Hispanic to own an NBA team, and at the same time rescue a good franchise from the clutches of a dysfunctional and unimpressive ownership group. Meruelo was the guy on the white horse, talking big and he already had a press conference as the new owner.
But it turns out, he might not have the money to buy the team.
The sale of the Hawks is in jeopardy because of concerns about Meruelo’s funding, reports Marc Stein of ESPN. Meruelo was to buy 80 percent of the Hawks for a price tag of about $300 million.
Sources told ESPN.com on Wednesday that there are concerns at the league level and within the Hawks’ current ownership group, headed by Michael Gearon Jr. and Bruce Levenson, about whether Meruelo indeed has the sufficient funds to purchase a majority stake in the franchise and operate an NBA team.
Meruelo denied this.
Said Meruelo in a statement: “I have more than ample resources to purchase and operate the Hawks in a first-class manner. I am committed to the purchase of the Atlanta Hawks. While I can’t comment on the details of the approval process, I have and will do everything I can to bring the process to a positive conclusion.”
The Atlanta Spirit would retain ownership for now, which is a punch in the gut to Hawks fans.
Like seemingly everything, this circles back to the lockout.
Part of the reason we have hardline owners pushing the lockout beyond rational limits is because many of those same owners overpaid for those franchise and were heavily leveraged in doing so. When those franchises didn’t rise in value (as they had done the previous 15 plus years) those owners couldn’t justify losing money each year. So they came in and demanded major revenue sharing and givebacks from the players so they could turn a profit.
Bringing another leveraged owner into the mix now would be a poor idea.
It is possible that Meruelo will be able to show he does have the finances in place to purchase this team. The door is not closed. But right now it appears far from a sure thing. If he is out, the Atlanta Spirit (a consortium of owners) would be looking for a new buyer. And it can’t happen fast enough for Hawks fans.
Joakim Noah hasn’t set foot on an NBA court since Feb. 4, and his season was all but ended when he had knee surgery at the end of February. It was a $72 million gamble that has not worked, and left New York with an anchor o a
Tomorrow it will be official he is done for the season, but not because of the Knicks or his injury.
During his recovery, Noah violated the NBA’s drug policy and will pay for a 20-game suspension, reports Adrian Wojnarowski at The Vertical at Yahoo Sports.
Noah tested positive for an over-the-counter supplement that is prohibited under the outgoing Collective Bargaining Agreement, league sources said.
Noah, 32, is expected to serve 10 games of the suspension to finish out the 2016-17 regular season and 10 games to start the 2017-18 season, league sources said.
The National Basketball Players Association’s investigation concluded that Noah hadn’t “knowingly or willingly” violated the policy and cooperated fully with the league’s probe, league sources said.
Over-the-counter supplements could be something put in his regular workout recovery drinks that he was unaware of, although we are unsure of the details.
Traditionally, the player has to be healthy enough to play before the league starts the suspension. Noah has been out for more than a month, but if a league doctor says he is healthy enough to play the then the clock on the suspension can start. But that is interesting.
Phoenix Suns guard Devin Booker is just 20 years old. He’s a League Pass favorite, and indeed he should be a favorite in Phoenix for years to come. On Friday, Booker dropped 70 points — yes, 70 — in a loss to the Boston Celtics.
Booker’s 70 points is the best outing of the season. It also made him the youngest player to ever reach 70 points.
His final stat line, as you might imagine, was ridiculous. Booker shot 21-of-40 from the field, going 4-of-11 on 3-pointers and a whopping 24-of-26 from the free-throw line. The Suns phenom also grabbed eight rebounds to go with six assists.
Despite the loss to Boston, 130-120, it’s still an incredible milestone for Phoenix and for Booker. There’s a bright spot out there for the Suns.
Aaron Gordon may not have had the best dunk contest this year — apparently drones and dunks don’t mix well — but the guy can still get up and finish with the best in the league.
As he did on this alley-oop against Detroit.
Elfrid Payton had to throw a lob that would get over Andre Drummond, but how many guys in the league can get that high, reach back and finish that? Damn.
Former Atlanta Hawk Pero Antic is now playing for Turkish powerhouse Fenerbahce, in case you were not aware.
Fenerbahce was facing Anadolu Efes in a EuroLeague game, it was tight late and former NBA player Ekpe Udoh was at the free throw line for Fenerbahce. He missed his second shot, but the rebound caromed out-of-bounds off an Anadolu Efes player. Antic was pumped.
Maybe a little too pumped.
That was Nikola Kalinic, by the way, the guy Antic now owes dinner to. Kalinic would like the dinner more than the hug and kiss he got from Antic right after the play.
Also, Anadolu Efes held on to win 80-77.
(Hat tip to Ball Don’t Lie.)