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.
LOS ANGELES (AP) — LaVar Ball has brought his Big Baller Brand from the basketball court to the wrestling ring.
The outspoken father of NBA draft No. 2 pick Lonzo Ball showed up with the newly minted Los Angeles Laker and another son, 15-year-old LaMelo, for a live segment on Monday’s “WWE Raw” at the Staples Center in Los Angeles.
During the segment, LaMelo Ball twice used the n-word, which was broadcast over the air. WWE says in a statement to the Los Angeles Times that the language “was not scripted nor reflects WWE’s values.”
For LaVar Ball’s appearance, the ring was decorated with mannequins displaying his Big Baller Brand clothing line. He got in a heated confrontation with WWE wrestler The Miz, and took his shirt off to cheers from the crowd.
Just four years ago, Michael Carter-Williams won Rookie of the Year.
Now, the Bulls don’t even see a $4,187,599 qualifying offer as worth extending.
David Kaplan of CSN Chicago:
Credit Sam Hinkie for trading Carter-Williams (to the Bucks) at just the right moment, netting the 76ers a valuable Lakers first-round pick that Philadelphia used to trade up for Markelle Fultz. Carter-Williams hasn’t nearly lived up to the typical production of a former Rookie of the Year.
The Bulls got Carter-Williams far cheaper from Milwaukee, for Tony Snell (who had a breakout year with the Bucks). But Carter-Williams continued to regress in Chicago. It’s just hard for a point guard with such a shaky outside shot, and Carter-Williams’ injuries haven’t helped.
With a smorgasbord of point guards that now includes Kris Dunn and Cameron Payne, the Bulls can move on.
Carter-Williams can probably latch on as a backup point guard somewhere. As an unrestricted free agent, teams will have greater comfort pursuing him. But this is a blow for someone with such a big accolade on his résumé.
The Celtics are trying to sign Gordon Hayward.
They want to trade for Paul George.
It seems those goals are not mutually exclusive.
Adrian Wojnarowski of Yahoo Sports:
The Boston Celtics are pursuing an aggressive summer plan of sequencing the signing of free agent Gordon Hayward and relinquishing the assets needed to complete a trade for Paul George, league sources told The Vertical.
For salary-cap purposes, Boston wants a Hayward commitment before it can finalize a trade for George and secure the most dynamic free-agent coup in franchise history, league sources said.
For Boston, here’s the hitch: While Indiana believes Boston can offer the best possible package, the Pacers may be unwilling to wait until the start of July free agency on Boston’s timetable and could turn toward making a deal elsewhere for George, league sources told The Vertical.
The Celtics can clear cap space to sign Hayward. They have the ammo to trade for George. They could do both.
But, as covered before, there’s probably not a path to signing Hayward and extending George’s contract.
So, how much would Boston surrender for George on an expiring contract? The risk he walks in a year, particularly for the Lakers, should lower the Celtics’ offer.
Still, Boston could trade for the Pacers star and roll the dice on re-signing him. Playing with Hayward – and Isaiah Thomas and whichever other players the Celtics keep in this arrangement – would be pretty appealing.
The Clippers hired Jerry West, in part, to help lure LeBron James.
But even with LeBron-to-Los Angeles (Clippers or Lakers) rumors swirling, that plan might not even get off the ground.
Mike Wise of The Undefeated on Freddie and Fritz:
I’m going to give you something on this show, and this is breaking news. Nobody else is going to have it.
I got from a very good authority – a very good authority – that LeBron James will never be a Clipper. I can’t tell you who, but I’m going to tell you it’s somebody that knows, and LeBron James will never be a Clipper. I don’t know if that’s because he remembers what the Clippers used to be, or he just doesn’t want to put his lot in there, or he thinks Steve Ballmer is just too animated on the sideline.
He’s never going to be a Clipper. I’m just telling people right now, for your edification. I’m breaking this on the Freddie Coleman and Fitz show.
I don’t believe in “never” in situations like this. As Jerry Seinfeld would say, teams are just laundry. The Clippers can change owners, general managers, coaches, players. LeBron would remain absolutely opposed to joining?
Maybe, but I won’t go that far without knowing his reason for resisting the Clippers. A lot can change between now and 2018, when LeBron can opt out.
One of the Clippers’ biggest selling points was always going to be Chris Paul, LeBron’s close friend. Reading the tea leaves, maybe this is a sign Paul will leave this summer – for the Spurs, Rockets or somewhere else.