There are rumors that he is not doing well financially and that the sale could be in trouble, but young tech industry wiz kid Robert Pera, 34, is pushing ahead with efforts to buy the Memphis Grizzlies.
And they will stay the Memphis Grizzlies under a new deal with local investors that Pera has reached, reports the Memphis Commercial Appeal.
Pera has agreed to three provisions: 1) a $100 million penalty if the team is moved, 2) a right of first refusal under which the local owners will be able to match any offer Pera receives to sell the team and 3) the right for the locals to buy the team from Pera at the current price if he wants to move it. All provisions are in effect for the next 15 years.
Pera had said previously he didn’t plan to move the Grizzlies, but these investors will put that deal in writing, not just make it a handshake agreement.
The only hurdle now is getting the NBA to approve Pera as owner. And that may be a high hurdle.
Pera’s company, Ubiquiti Networks Inc., has found itself in hot water because its products were illegally sold into Iran. The other issue is that this and other controversies have dropped the stock price of Ubiquiti, and with it Pera’s worth down to $800 million. Which is a lot, but if you are buying a team for $350 million that’s not as rich as it seems.
The league is still working through the background and other details of the Grizzlies’ sale. But bringing in local investors with this deal is going to help Pera’s cause because he has to pay less and it keeps the Grizzlies in town. Nobody wants to see the team moved to San Jose, or anywhere really.
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.)