They may love him and erect statues to him in Beijing, but things are different in Virginia.
That is where Stephon Marbury, through his business entities, bought some commercial properties for investments. But the bank says they have not been paid on loans for those properties and because Marbury personally guaranteed the loans they are coming after him in court to get their pound of flesh. Or, just the cash.
The gory financial details of the well traveled former NBA scoring machine were detailed in a story at richmondbizsense.com (via SLAM).
U.S. Bank, which is servicing a bundle of loans originally owned by Wachovia, sued Stephon Marbury and several of his investment entities — one of which is called Starbury GSA — for $3 million. Marbury’s nickname as a high school phenomenon was “Starbury.”
The suit contends that, through the entities, Marbury bought industrial and office properties across the county, including one on Poplar Drive in Petersburg that was leased to the US. General Services Administration for use by the Social Security Administration….
Wachovia lent $1.4 million to Marbury in 2007. In August 2011, U.S. Bank foreclosed on the Petersburg property and sold it for $1.31 million, according to the suit. The bank alleges that it is still owed $1 million by Marbury, which includes unpaid interest and legal fees.
This is no Marbury’s first financial issues stateside, remember is home in Los Angeles was foreclosed on. And banks have gone after him before for much more money.
Marbury is in China preparing for the next season of the Chinese Basketball Association — where his team is the defending champion — and has not yet commented on the lawsuit.
The Cavaliers are 2-1, but their starting lineups have been outscored by 19 points in 32 minutes. Dwyane Wade has been so bad as the starting shooting guard, his struggles have overshadowed J.R. Smith‘s miserable play as the backup.
But at least Wade volunteered a solution to this predictable problem.
Joe Vardon of Cleveland.com:
Dwyane Wade is headed for the Cavaliers’ bench at his own request and J.R. Smith is returning to the starting lineup.
Wade, 35, a 12-time All-Star who struggled in his first three games with Cleveland, asked coach Tyronn Lue to make the change, Lue said. But this wasn’t exactly Wade’s idea, either.
Lue told him when he signed with the Cavs Sept. 27 that the second unit may be the best fit for him.
“I just decided, earlier than later, just to get to the unit where I’d be more comfortable in and can probably better with this team in that lineup,” Wade said. “Why wait? Three games in, why wait? Wanted to get in there with those guys.”
Cleveland’s starting lineup needs more shooting and defense around LeBron James – especially with Derrick Rose starting over an injured Isaiah Thomas (though Rose is out a couple games with his own ankle injury). Smith provides that.
Bench-heavy units need more playmaking. Wade provides that.
This was a tricky situation given Wade’s status as a future Hall of Famer and friendship with LeBron. Whether Wade simply suggested the change or Lue is trying to give Wade public credit after coaxing it behind the scenes, the result is the same.
The Cavs can now use their most logical rotation, and they should be better for it.
Eric Bledsoe reportedly requested a trade from the Suns before the season then tweeted yesterday:
After sending home Bledsoe today, Suns general manager Ryan McDonough explained his rationale:
The hair salon! What a wonderful excuse.
Is it true? I’m not going to call Bledsoe a liar. It might be.
It’s also probably true that Bledsoe isn’t long for Phoenix.
In a shocking twist, the Suns firing Earl Watson did not end the dysfunction in Phoenix.
Chris Haynes of ESPN:
John Gambadoro of Arizona Sports 98.7:
Adrian Wojnarowski of ESPN:
That is a first-rate tweet by Bledsoe. It’s great that he’s having fun with the wild situation, because the rest of us sure are amused peering in.
This was always going to be a long season in Phoenix, but things got out of hand in a hurry. The 0-3 Suns have been outscored by 92 – the worst three-game start in NBA history by 16 points. Now, comes the fallout.
At 27, Bledsoe was getting to be a little too old for a rebuild centered on Devin Booker, Josh Jackson, Marquese Chriss, Dragan Bender and T.J. Warren. The Suns could have dealt Bledsoe in the offseason. Now, they’re negotiating from a position of weakness.
Bledsoe is a good starting point guard when healthy. He’s earning a reasonable $14.5 million this season and due $15 million in the final year of his contract next season. There should be suitors, and Phoenix can gain long-term assets while stepping up its tank.
But this sure seems like a crisis-control move more than anything else.
Knicks president Steve Mills started his second tenure talking about rebuilding and listed Willy Hernangomez as a core piece.
But Hernangomez, coming off an All-Rookie first-team season, barely played in New York’s season-opening loss to the Thunder– drawing scrutiny.
Then, he didn’t play at all in a loss to the Pistons – eliciting a strong reaction from Hernangomez himself.
Hernangomez, via Fred Kerber of the New York Post:
“The same. I’m still mad,” Hernangomez said. “I cannot help the team win if I’m sitting on the bench. Two games in a row. It’s tough. I have to wait my moment. I cannot say nothing more.”
The Knicks are moving in different directions. Management is talking about building for the future. Coach Jeff Hornacek, who was hired by previous president Phil Jackson, is trying to win now.
There’s a fine line between developing Hernangomez through playing time and making him earn his minutes. Enes Kanter and Kyle O'Quinn might be better right now.
But being marginally better this season won’t get the Knicks anywhere meaningful except lower in the lottery. On the other hand, even on rebuilding teams, winning is most important to a coach’s job security. Earl Watson implemented the Suns’ tanking scheme, and look where that got him.
Hornacek is backed into a corner, and now one of the team’s most important young players is publicly expressing his displeasure. It’s the latest troubling sign in a locker room already suspicious of Hornacek.