Stephon Marbury sued for $3 million by banks in Virginia

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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.

DeMarre Carroll: I fit better with Nets than ball-stopping Raptors

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DeMarre Carroll – after being traded from Toronto to Brooklyn – said some Raptors players didn’t trust their teammates. That’s the type of lightening-rod statement that often creates more controversy and/or comes across more harshly than the speaker intended. So, representative of his true feelings or not, he usually tries to walk it back.

Not Carroll, who mostly doubled down.

Carroll, via Brian Lewis of the New York Post:

Carroll, who will make $30 million over the next two seasons, admitted he wasn’t fit for Toronto’s isolation-heavy offense, that he is a role player at his best when his team moves the ball.

“Yeah, that’s definitely fair to say. I had my share of iso already, so team-ball is my forte,” said Carroll, who said it was effective with Kyle Lowry and DeMar DeRozan. “You got two great All-Stars, two great players. That’s how they play. They were playing that way before I came, and they’re going to be playing that way long after I leave. They’re not changing that for me.”

“I give credit to Masai: He helped me find a team,’’ Carroll said. “Me coming from a system in Atlanta where the team is about moving the ball, we felt like it wasn’t a fit. I’m not an iso player by any means. I’m definitely a role player and for me to be the best role player I need to be on a team that shares the ball.

Carroll did emphasize more this time that an isolation system is more effective with Lowry and DeRozan. Some might even argue that system is more necessary considering the talent disparity between Toronto’s stars and their teammates – like Carroll. Carroll’s scoring prowess is more similar to the other Nets, which makes great ball movement more effective. If Lowry’s and DeRozan’s teammates were equally as good as those two, Lowry and DeRozan might pass more.

It’s a tough equilibrium to strike, and the Raptors probably haven’t yet. After multiple playoff disappointments, they’re trying for a a “culture reset” that includes more passing. It’s a big shift for a team and stars with such established identities.

Count Carroll among those doubting they’ll truly change their approach.

New Knicks GM Scott Perry: I haven’t met with James Dolan yet

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Knicks fans clamored for years for owner James Dolan to stop meddling. Dolan finally listened, handing the keys to the franchise to Phil Jackson then stepping away – another big error by the error-prone owner.

Then, Knicks fans clamored for Dolan to fire Jackson. Eventually – and far later than ideal – Dolan got Jackson out of town.

With Steve Mills succeeding Jackson as team president, what is Dolan’s involvement now? New general manager Scott Perry – rather awkwardly – shed light on the situation during an interview with ESPN’s Jemele Hill and Michael Smith.

Via Reed Wallach of Nets Daily:

  • Hill: “It’s still early, but what have your interactions with James Dolan been like?”
  • Perry: “I have not met with him yet, but I’m looking forward to that.”
  • Smith: “You have not met with him since you took the job, you mean?”
  • Perry: “Yes.”
  • Smith: “Gotcha. But obviously you met with him before you took the job?”
  • Perry: “No, I’ve dealt very closely with Steve Mills throughout the process.”
  • Smith: “Oh, it’s really just been Steve?”
  • Perry: “It’s just been – yes. Yes, it has.”

This isn’t necessarily problematic. Did you met with your boss’s boss during the interview process or shortly after being hired? For some jobs, I have. For others, I haven’t.

Though Perry carries the lofty general-manager title, Mills still runs the front office and reports directly to Dolan. I am curious how often Mills interacts with Dolan, though at least Mills is now getting advised from below with Perry.

The last time Mills was left to his own devices, he signed Tim Hardaway Jr. to a four-year, $71 million deal.

Kings finally waive rights to 44-year-old European player they drafted in 1995

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Back in 1995 — while you were listening to Coolio rap “Gangster’s Paradise,” watching the O.J. Simpson trial, and using your cell phone to actually make calls — Sacramento Kings GM Geoff Petrie used a late second round pick on Dejan Bodiroga.

The Serbian point forward — who played for the Serbian national team with Vlade Divac — never came over to the NBA, despite multiple efforts by the Kings, and is still considered one of the better European players never to test the NBA waters. He was a Spanish and Greek league MVP and won multiple titles in European leagues.

Friday, the Kings finally renounced his draft rights.

He’s just 44 and hasn’t played professionally since 2007, are they sure he still couldn’t contribute? (Insert your own Jose Calderon joke here.)

Kings fans on Twitter were awesome.

 

Report: Kyrie Irving considered requesting a trade after Cavaliers’ championship season

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Kyrie Irving reportedly made his desire to leave the Cavaliers known during his first few years in Cleveland. Then, LeBron James returned and that talk quieted – for a while. This offseason, Irving renewed his trade request, reportedly before the draft then again to Cavs owner Dan Gilbert last week.

But this has apparently been percolating throughout Irving’s time in Cleveland – even at the Cavaliers’ peak.

Brian Windhorst of ESPN:

When Irving signed his deal, he expected to be the franchise player for the foreseeable future. But about two weeks later, James arrived from Miami. The sudden change of situation rocked Irving, and he has vacillated at times over the past three years about working as a secondary star to James and the original plan of having his own team.

He discussed the challenge during last month’s NBA Finals.

“Having just a tremendously great player like that come to your team, and you see yourself being one of those great players eventually, and then he ends up joining it, and then now you have to almost take a step back and observe,” Irving said. “Finding that balance is one of the toughest things to do because you have so much belief and confidence in yourself. … Selfishly, I always wanted to just show everyone in the whole entire world exactly who I was every single time.”

With this in mind, Irving considered requesting a trade after the Cavs’ championship last year but decided against it, sources said.

Irving is catching a lot of heat for wanting to ditch LeBron and the consensus second-best team in the NBA. Imagine if Irving requested a trade immediately after a title!

This is yet another example of winning curing all ills. Irving clearly sees playing a supporting role as suboptimal, but he was willing to do it when Cleveland was winning a championship. Now that the Cavs title chances have slipped (hello, Kevin Durant-boosted Warriors) – even just to second-best in the entire league – Irving has prioritized his exit.

We’ll see how this affects Irving’s image. That’s important for such a prominent endorser. But it’s safe to say a trade request last summer would have gone over far worse with the public.