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.
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.
Three Things to Know: Giannis Antetokounmpo spoils Boston home opener
Every night in the NBA there is a lot to unpack, especially on this, the real opening night of the NBA with 22 teams in action. Every weekday morning throughout the season we will give you the three things you need to know from the last 24 hours in the NBA. Tonight, that includes a few historic numbers… good and bad.
1) Brad Stevens, Celtics have no answer on how to slow Giannis Antetokounmpo either. As a general rule of thumb, if you’re getting mentioned in the record books with Kareem Abdul-Jabbar, you’re doing something very right. Monday night, the Greek Freak was rolling to the rim and finishing alley-oops over defenders, hitting floaters and leaners in the lane, and generally using his length to get any shot he wanted against the Celtics on his way to a 37-point, 13 rebound night in Boston. The only other Buck to have an opening night of at least 35 and 10? Yup, one Mr. Abdul-Jabbar.
Put a smaller defender on Antetokounmpo and he shoots right over them. Put a bigger defender on him and he goes around them — or just over them too. Brad Stevens tried a lot of things on defense, and while Al Horford had a little first-half success slowing him nobody did all game as he shot 59.1 percent on his way to dropping 37.
Notice all those shots are close to the rim. Antetokounmpo was a ridiculous 10-of-12 at the rim and 12-of-18 in the paint overall, but just 1-of-4 outside the key. It’s easy to say “make him a jump shooter” but good luck finding anyone who can stay in front of him, or that he can’t just finish over. The man was dunking over Aron Baynes, how do you get anyone much bigger in front of him?
Boston was up four points entering the fourth quarter when the second night of a back-to-back seemed to hit them, they scored just 20 points on 8-of-25 shooting in the final frame, 4-of-21 outside the restricted area. Meanwhile, Antetokounmpo went off for 16 in the fourth as he ramped up his aggressiveness and Brad Stevens and the Celtics had no answer. Marcus Smart was fiery and got into it withMatthew Dellavedova, that may have exemplified Boston’s spirit, but Celtics looked physically and emotionally worn down by the end. Hard to blame them.
Rough start to the season for Boston, who lost Gordon Hayward just minutes into the opener (he’s out for the season), they fell to the Celtics Tuesday night and now are off to an 0-2 start. They will bounce back, but just now how the team with all these new players thought things would start.
2) Jeremy Lin injures knee and there is “tremendous” concern it is serious. Midway through the fourth quarter against the Pacers, Jeremy Lin drove the lane and finished a layup at the rim that looked ordinary — except when he landed he went to the ground grabbing his knee and did not get back up.
This isn’t good. Neither were the reports during and after the play.
Jeremy Lin banging the floor: "I'm done, I'm done, I'm done." Looks like a knee injury.
Brooklyn was counting on Lin to help stabilize the point guard position and the backcourt with D'Angelo Russell (who had 30 on the night in a losing effort). If Lin is done for all or most of the season, it’s a huge setback for a team that, while bad, was expected to be a little better than in previous seasons. Remember, the Cavaliers have Brooklyn’s first-round pick this season unprotected (part of the Kyrie Irving trade from Boston).
3) Suns’ season opening performance wasn’t just bad, it was the worst ever. The record for worst opening night loss in NBA history belonged to the 1987 Los Angeles Clippers coached by Gene Shue, who were blown out by Denver by 46 points.
No more. That record now belongs to the Phoenix Suns, who fell at home to the Portland Trail Blazers 124-76 — a 48 point loss. The Suns shot 31.5 percent as a team — Devin Booker was 6-of-17 and didn’t hit a three, Eric Bledsoe was sloppy and reckless all night and finished 5-of-18 with five turnovers and three assists, while Dragan Bender and Marquese Chriss combined to go 1-of-10 off the bench. The Phoenix offense was about as in synch as the left shark, and many possessions ended with a terrible shot being jacked up because, well, somebody had to shoot it.
I’d like to say this was a good omen for the Trail Blazers’ defense, but really it’s impossible to judge how good it was against this offense. It was still a win the Blazers will gladly take, Damian Lillard had 24 points while Pat Connaughton came off the bench for 22.
PBT Extra: Bobby Portis punch adds to challenges for Bulls this season
There had been hope from some Celtics fans that Hayward could return this season, likely for the playoffs, but now that the surgery is complete Hayward’s agent told Adrian Wojnarowski of ESPN not to expect him back until next season.
After surgery tonight, Boston's Gordon Hayward is unlikely to return this season, agent Mark Bartelstein told ESPN.
This shouldn’t be a surprise to anyone who saw the injury. Hayward is in the first year of a four-year deal with the Celtics, they were always going to choose a cautious path rather than rush him back. Under Danny Ainge Boston has always taken the long view, even with all their moves this summer — specifically bringing in Hayward and Kyrie Irving — the target was to be the team set up for next as LeBron James and the Cavaliers faded. That plan does not change now.
Earlier in the day, Hayward had sent a video message out to Celtics fans thanking them for their support in the past 24 hours.
Without Hayward, the Celtics now will focus more on smaller lineups, rookie Jayson Tatum will get more run, as will Marcus Smart in his contract year. Jaylen Brown will be thrust into a more significant role. Also, Kyrie Irving will be asked to do more as the team’s second-best playmaker is now out for the season.
The Celtics will take a step back this season without Hayward, who was going to be crucial for them on both ends of the floor. That’s evidenced by their 0-2 start, falling to the Cavaliers and Bucks on the first couple nights of the season. Boston should still be a team well above .500 and in the playoffs, but they will not be quite the same this season.
Trail Blazers beat Suns by 48, biggest season-opening rout in NBA history