Grizzlies fans were rightfully hopeful when news got out that long-time team owner Michael Heisley planned to sell the team to a young billionaire out of the Silicon Valley, Robert Pera. Not that they really knew anything about Pera — he is 34 and filthy rich selling high tech electronic equipment to the developing world, mostly — but he had to be better than Heisley. Right?
We may never find out. The sale of the Grizzlies to Pera seems to have some challenges. To put it kindly.
As the NBA goes through its background checks on Pera, his company, Ubiquiti Networks Inc., is seeing a lot of controversies. And that could stall or kill the sale, suggests the San Jose Business Journal (via Ball Don’t Lie and Eye on Basketball).
The NBA is going through an extensive vetting process that will look into everything from Pera’s business associates, to his family, to his financial situation. That will include Ubiquiti’s recent controversies, such as an acknowledgement that the company’s products were illegally sold into Iran….
NBA officials will “look into (the Iran issue), they’ll question it,” said SportsCorp. President Marc Ganis, who advises on team deals. “They don’t want a front-page New York Times story six months from now about how an ‘NBA owner sold products to terrorist organizations,’ by way of example. They’re going to want to understand what (the Iran case is) before they sign off on it.”
Pera has a 63 percent stake in Ubiquiti, according to regulatory filings. That stock was worth $2 billion as of May but has dropped to $800 million.
I would love to be worth only $800 million.
But for buying an NBA team, that is on the low end. Especially when the sale price is a reported $350 million.
Pera has said he is looking for some local investors to be part of the franchise, so he wouldn’t have to come up with all the cash himself. And he still has the money to buy the team. But all this stuff is enough to get the rather conservative (financially) NBA to pause.
The Cavaliers were ready for their game against the Raptors tonight, and Toronto’s dance team wasn’t going to change that.
The last time I remember something like this happening, Grizzlies guard Tony Allen walked through the Warriors’ kid dancers. This video doesn’t show got the Cavaliers got to that point, but they might have the defense of being there first. Allen definitely didn’t have that.
Gary Neal made a jumper with 10:12 remaining in tonight’s Wizards-Hornets game.
That was Washington’s last basket.
Jared Dudley made a pair of free throws on the Wizards next possession, and Neal added two more free throws with 23 seconds left.
And that was all the Wizards scoring in the quarter.
Washington, which entered the final period up seven, lost 101-87 after its 1-for-20 final-period shooting.
The six fourth-quarter points were the fewest by an NBA team in a quarter since Cavaliers scored six third-quarter points in a Jan. 26, 2014 loss to the Suns. Last time a team scored so few in a fourth quarter: Nov. 13, 2012, when the Raptors had five against the Pacers.
At least Neal’s late free throws spared the Wizards further shame. Nobody has scored four or fewer points in a quarter since the Warriors managed just two in a Feb. 8, 2004 loss to the Raptors.
As it stands, this is one of only 44 times in the shot clock era a team has scored so few points in a quarter.
After a rare period of on-court competence, the 76ers led the Celtics by five with two minutes left tonight.
Then, Philadelphia snatched defeat from the jaws of victory.
The 76ers yielded a 9-0 run to close an 84-80 setback.
They’re now 0-16. Combined with their 0-10 finish to last season, that’s a 26-game losing streak – tied for longest in NBA history. Last year’s 76ers already shared the record.
Philadelphia is also in danger of the worst start to a season. The 2009-10 New Jersey Nets began 0-18, and last year’s 76ers won only one game sooner.
The 76ers will try to avoid the all-time longest streak at the Rockets on Friday. If that goes unsuccessfully, they’ll try to avoid matching the worst season start at the Grizzlies on Sunday. And if both fail, they could set the worst-start record against the Lakers on Tuesday.
76ers-Lakers – it’s shaping up to be a big one.
The Timberwolves didn’t select the meanest tweets about these players, but credit Karl-Anthony Towns, Tyus Jones, Shabazz Muhammad and Zach LaVine for being good sports.