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.
Hopefully, this does not develop into something chronic.
After a promising rookie season and an impressive Summer League in Orlando where he averaged 18.8 points per game, Thunder second year player Cameron Payne had surgery to repair a Jones fracture in his right foot, the team announced Monday. Here it is from the Thunder’s press release.
Oklahoma City Thunder guard Cameron Payne underwent a successful procedure today to repair a fractured fifth metatarsal in his right foot, it was announced today by Executive Vice President and General Manager Sam Presti.
The team is optimistic he will be ready to go by the start of the season (there is usually a 6-8 week timetable), but Payne and the Thunder need to be patient here. The fifth metatarsal is the bone that runs from the base of the little toe up to the ankle on the foot. While surgery can repair it, healing can be slow because that is not an area of the foot with great natural blood flow. The Thunder were down this road before with Kevin Durant, he came back eight weeks after the surgery but ended up needing a couple more to get everything fixed and missed 55 games because of it.
Payne played well as a rookie and is expected to see a healthy bump in playing time next season as a scoring guard off the bench behind Russell Westbrook. He just needs to get right first.
Coaches who win rings often get a pay bump. Guys who break a 52-year championship drought deserve one.
That includes guys who only coached half a season — especially ones working on the same contract they had before taking the big job.
Tyronn Lue and the Cavaliers just agreed to a healthy contract extension, reports Adrian Wojnarowski of The Vertical at Yahoo Sports.
That seems fair.
What Lue got that his predecessor David Blatt never could was real buy-in from LeBron James and the rest of the Cavaliers. Blatt came off as wanting to be the smartest guy in the room at all times — and don’t you dare discount his experiences coaching in Europe — while Lue was more humble and more direct. He didn’t get to put in everything he wanted, and the team didn’t play faster for him (statistically) as he wanted, but there was better chemistry.
This isn’t rocket science for Cleveland — if you have a coach that your franchise player backs, and said coach has proven he can win, you keep him.
Since the day after Kevin Durant said he was going to sign with Golden State — which came as a shock to a lot of people with the Thunder organization — there has been a sense from the Thunder and people close to it that they thought they could keep Russell Westbrook. That ultimately, he would prefer to stay. Few around the league were buying that, but OKC believed it.
Maybe it’s optimism. Maybe it’s reality. But the question isn’t about the 2016 season that starts in October; it’s the 2017 season. Does Westbrook want to stay with the Thunder long term and sign an extension to prove it? Or when he’s a free agent next summer does he want to at least listen to his other options? Because if it is the second option, even if Westbrook says he likely stays, well, the Thunder just went down that road and got burned. They have no choice but to move him. And he knows it. He just didn’t expect to have to make this decision now.
Westbrook doesn’t like the idea of being traded, reports Royce Young at ESPN.
According to sources with knowledge of the situation, he doesn’t want to be traded. He wants to play next season with the Thunder. It’s the year after that which is in question. There’s a growing belief Westbrook will think heavily about an extension but will first weigh every angle before doing it.
That extension would put $9 million more in Westbrook’s pocket next season (because the Thunder are under the cap) and he would get raises off of that for three more seasons. It’s a good deal, what he would ultimately lose is one more guaranteed year on the end of his contract if he left the Thunder, two if he stayed.
The real question is: Does he want to be wooed as a free agent next summer?
If the answer is yes, the Thunder have no choice but to trade him — and other teams will have lowball offers unless he guarantees to re-sign where he is traded (no team is giving up many quality future assets to rent Westbrook).
If the answer is no, he should go the James Harden route and sign an extension.
Either way, the answer is coming this summer.
More than just a new name, they may need to call in Robert Irvine for a “Restaurant Impossible” makeover.
Kevin Durant‘s restaurant in Oklahoma City KD’s has closed its doors — which makes a lot of sense, that’s not a name that’s going to sell much in OKC anymore. Brianna Bailey of the Oklahoman has the details.
Kevin Durant’s Bricktown restaurant closed Sunday, but vows to open with a new theme after Labor Day, Hal Smith Restaurant Group said Monday.
“The concept will offer an updated atmosphere with a similar menu to what has been available at that location in the past,” the restaurant group said in its announcement.
The restaurant had mixed Southern food classics — fried green tomatoes, po’ boys, fried chicken — in with steaks, burgers, and classic American fare.
The restaurant has been a popular eatery for years, and the ownership group said that didn’t change even after Durant decided to take his talents to Golden State. Still, seems a smart move to have name/theme change after Durant’s decision. I just recommend avoiding a California cuisine theme.