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Breaking: Deal between Maloof family, Seattle’s Chris Hansen for Kings struck, to be announced

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While Sacramento will get a final shot to convince NBA owners that this is not something they want to approve, sources have told ProBasketballTalk that Seattle’s Chris Hansen is ready to announce a tentative agreement to purchase the Sacramento Kings in the coming days.

Following this come reports other teams have been notified of a sale, something PBT can confirm. The sale price is $525 million of which the new owners will get 65 percent.

Adrian Wojnarowski reported a week ago a deal between the Maloof family and Hansen was “at first and goal from the one,” and furthermore that the Kings moving to Seattle was a done deal. That report had been echoed by CSN Bay Area’s Matt Steinmetz and David Aldridge of NBA.com, though each reporter left a little wiggle room in case the Maloofs changed their minds.

According to our sources, any deal sending the Kings to Seattle would not be a done deal because any deal would be subject to an approval by the NBA’s Board of Governors.  In addition, sources tell PBT that Sacramento has been approached by at least three groups of “heavy hitters.”  Sacramento could be getting close to announcing a group that meets NBA criteria that has the “vision to transform one of the NBA’s most proven markets into a top NBA franchise.”  This, they believe, will help win the NBA’s support for keeping the Kings in Sacramento.

As we’ve followed this story for the last two years, the city of Sacramento has bent over backwards to accommodate the Maloofs according to sources from all sides of the situation. One league source called their offer of public funds to build an arena for the Maloofs a “model offer of public funds,” and the NBA itself supported the failed deal from last year that the embattled Maloof family backed out of.

Since reports of the Kings’ move to Seattle have hit the net from very reputable sources, Sacramento has been firing on all cylinders in what has been a long-term initiative to respond in the event the Maloof family was willing to sell the team. Indeed, sources close to the situation in the California capitol have told PBT that preparing for this contingency has been a prime focus of the city, and that when it comes time to present Sacramento’s offer to the Board of Governors that they believe it will be a compelling and competitive offer.

It will be up to the Board of Governors — made up of the 29 other NBA owners — to make that determination.

We reported in September that Seattle’s Chris Hansen would need to put up more money to beat Sacramento’s offer, and that is one of the main sources of the city’s confidence according to sources speaking on condition of anonymity.

We calculated that an offer from Sacramento of $425-450 million for the overall price of the Kings franchise would put more money in the Maloofs’ pockets than the reported $525 million offer from Hansen, because a Sacramento owner would not need to worry about the Maloofs’ outstanding loan to Sacramento (~$75 million).  The city also doesn’t have to worry about the league’s relocation fee, which was $30 million when the Sonics moved to Oklahoma City and became the Thunder, although the Board of Governors can set that fee at whatever level they wish. USA Today’s Sam Amick confirmed Sacramento’s target offer in his exclusive interview with Sacramento Mayor Kevin Johnson last week.

The biggest point in Sacramento’s favor according to sources is the “model offer” of public funds itself, an offer that was in excess of $200 million in a California climate that normally doesn’t support public funds for sports facilities.

Sources close to the situation tell PBT that this, along with the league’s fear of another Sonicsgate, will be the deciding factors should Sacramento be able to provide an actionable offer that is competitive with Seattle.

The Maloofs themselves have reached the point where they have to sell the team, something that doesn’t really help their leverage. Their financial struggles are well documented and in May they asked their minority owners for a $10 million cash call. Along with the threat of having a lame duck year in Sacramento, nobody with knowledge of the situation has said that there is a realistic chance that the family decides not to sell.

This means that this story is coming to a head, and if the Board of Governors pushes the Maloofs toward the Sacramento offer they will have to listen. Because a Sacramento offer can put the same type of dollars in the family’s pockets, sources in Sacramento like the city’s chances to pull this out.

Favoring Seattle is the fact they have a larger television market than Sacramento (Seattle is 14th, Sacramento is 20th), and that a relocation fee assessed to Seattle could put money in each owners’ pockets, but Sacramento isn’t without ammunition here.  They have no competition from other sports teams and have a long and storied history of supporting their franchise.  They are also arguably further along in their arena building process, as Seattle is still facing two relatively toothless lawsuits and an environmental review while Sacramento’s arena deal was ready for approval last year.  In addition, as SB Nation’s Tom Ziller points out, there are several reasons that expansion could benefit the league and owners would also benefit from an expansion fee in that case as well, which would theoretically give the Hansen group a better price point to join the club.

Sacramento has been working for a long time and has not been caught off guard by the Maloofs’ intentions to sell. As long as Mayor Kevin Johnson can deliver the package he has been foreshadowing, it will be up to the league to decide whether or not they want to turn their back on Sacramento.

As usual, it comes down to showing the league the money. Fortunately for Sacramento, this is something that Mayor Johnson has a great track record with.

Sacramento Mayor Kevin Johnson will reportedly get that chance, but he’s going to have to convince the owners to reject a deal put before them. While those same owners did that in the case of a proposed Kings move to Anaheim, this may be a tougher pitch for Sacramento.

Timberwolves new CEO knows exactly what he’s getting into

This 2016 image provided by the San Francisco 49ers shows Ethan Casson posed at Levi's Stadium in Santa Clara, Calif. In 1998, Casson called sports teams all over the country asking to get a foot in the door. The Minnesota Timberwolves answered, giving him an entry-level position. Almost 20 years later, Casson returns to the franchise as the team's new CEO hoping to help a team that has struggled on the business side almost as much as it has on the court. (Terrell Lloyd/The San Francisco 49ers via AP)
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MINNEAPOLIS (AP) In the winter of 1998, Ethan Casson started calling professional franchise after professional franchise, begging them to get his foot in the door in any capacity.

One night, a human resources employee for the Minnesota Timberwolves picked up the phone and Casson talked his way into a meeting. He flew from the East Coast, met with several Timberwolves executives and, during the third quarter of a game against the Golden State Warriors, was offered an entry-level position on the business side of the operation at $24,000 per year.

“To think that what started as a cold call of me begging an HR person to let me come in and prove my worth 18 years later turned into me coming back as a CEO is amazing and certainly very special to me,” Casson told The Associated Press in a telephone interview.

Casson had to sell his car and some other possessions to raise the money to pay for his move from Boston to the Twin Cities, but the leap of faith has paid off. Six years after he left the Timberwolves to climb the ladder with the San Francisco 49ers, he is returning as CEO to breathe new life into one of the NBA’s struggling operations.

Timberwolves President Chris Wright remembered the impression Casson left in those first face-to-face meetings.

“I told him we’re going to find a place for you in this franchise because you are exactly the type of person that we want build this franchise around,” Wright said.

Casson’s first stint with the Timberwolves lasted 11 years. He worked his way up to senior vice president of corporate partnerships and met his future wife here before leaving for the 49ers in 2010.

When he arrived in the Bay Area, the once-proud 49ers were in the midst of an eight-year playoff drought. Their revenue had dropped to near the bottom of the league and they were playing in an outdated stadium that couldn’t compete with the shiny new ones popping up around the league. He leaves after helping to secure a 20-year, $220 million naming rights deal with Levi’s for the new stadium and rebuilding the franchise’s business operations.

The Timberwolves have not made the playoffs since 2004, the longest active drought in the league. That futility has contributed significantly to plummeting revenue and a dwindling season ticket base.

“I’m not saying it’s apples to apples, but I certainly feel I’ve been on a six-year journey that involved a lot of similar themes,” Casson said. “And I’ll apply all of those lessons to this next phase of my career.”

Casson replaces Rob Moor, the longtime CEO who stepped aside to work more closely with Wolves owner Glen Taylor’s other business interests. At 42 years old, Casson is part of a youth movement coming into the organization. Taylor also brought in 41-year-old New York real estate mogul Meyer Orbach and 35-year-old Chinese entrepreneur John Jiang as minority owners, and he hopes the three of them help bring a new perspective and energy to the business side that mirrors the vibe youngsters Karl-Anthony Towns, Andrew Wiggins and Zach LaVine are bringing to the team.

“I was very aware and respectful that taking on this role wasn’t about coming in and fixing things that were broken,” Casson said. “I don’t look at opportunities like this as somethings not working. I look at it as an opportunity to reset and plot out a different course or a different version of a course that moves the business forward.”

The challenges are real. The Timberwolves’ competitive dormancy buried them in a crowded sports marketplace. Tickets have been hard to sell and the NFL’s Vikings, the NHL’s Wild and MLB’s Twins are competing for the corporate dollars.

“I’ve been here for a long time,” said Wright, who is entering his 25th season with the Wolves. “I’ve tried to do it what I consider the best way for the franchise given all of the different sort of environments we’ve found ourselves in over the last 12 years as we’ve not been making the playoffs. And I think Ethan is going to just bring a completely fresh, new look to all of that and lead us in the direction we need to be as a club in the 21st century.”

The Wolves have one of the most promising young cores in the league, a brand new practice facility in downtown Minneapolis and have begun renovations on the dusty Target Center.

“There’s a lot of momentum in and around the organization that made it very exciting for me as a fan and now as someone who is coming back as CEO,” he said. “That will come and go. The renovation will eventually be complete. The team will stabilize and be competitive. You still have to make sure the business model is sustainable and drivable. That’s what we’re going to be.”

Joel Embiid arm wrestled Justin Bieber in a club? Yup. There is video.

THERMAL, CA - APRIL 16:  Professional basketball player Joel Embiid attends the Levi's Brand and RE/DONE Levi's presents NEON CARNIVAL with Tequila Don Julio on April 16, 2016 in Thermal, California.  (Photo by Jonathan Leibson/Getty Images for Tequila Don Julio)
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Joel Embiid is officially 7’0″ tall and 250 pounds, although when you see him in person now that number seems low, he looks thicker and stronger.

Justin Bieber is a 5’9″ waiflike person.

So of course, they arm wrestled at the club Hyde in Los Angeles. It went about as you’d expect. Here is some video, hat tip to Dan Devine at Ball Don’t Lie (arguably the best arm wrestler in the NBA media).

If you’re about to make an “at least Embiid didn’t get hurt” joke, be more creative.

Hopefully, we get to see what Embiid can do on the court this fall, where the competition will be a lot tougher than any Canadian pop star.

Larry Sanders asks in Twitter poll what team he should play for next season

Larry Sanders
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Larry Sanders is talking about getting back into the NBA. He walked away in 2015 to say he needed to deal with anxiety and depression, to find a balance in his life. Recently he told Alex Kennedy of Basketball Insiders this:

“But I feel like I’m in a much better place right now and I’m equipped to be able to put myself in that situation again.”

But where? A lot of teams could use an athletic big who averaged 1.4 blocks per game over the five years he was in the NBA, although with the conservative nature of NBA front offices they will not want to take much risk (Golden State reportedly thought about it and decided not to offer him a contract).

Sanders decided to ask Twitter where he should go, putting Twitter’s poll feature to good use.

The question becomes, where is there mutual interest from any of these teams?

If Sanders and his agent can win a team over in an interview, the contract will be small and the number of guaranteed years is not exceeding one (if even that). From the perspective of an NBA team, Sanders has to prove himself again.

But never underestimate how many chances big men get in this league.

(Hat tip Eye on Basketball)

Warriors’ just re-signed Anderson Varejao leaves Brazil to have back examined in USA

CLEVELAND, OH - JUNE 16: Anderson Varejao #18 of the Golden State Warriors warms up prior to Game 6 of the 2016 NBA Finals against the Cleveland Cavaliers at Quicken Loans Arena on June 16, 2016 in Cleveland, Ohio. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Ronald Martinez/Getty Images)
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Anderson Varejao was spending the past couple days helping his nation prepare to host the 2016 Olympics in less than two weeks, including carrying the Olympic flame.

#tochaolimpica #varejao #olimpiadas #rio2016 #brazil #sampacool 😍⚾⛳🎾⚽🏀🏁🏂🏆🏊🏇

A video posted by Marcus Bado (@marcusbado) on

But now he is on his way back to the United States to have his chronically bad back examined. Again. From Diamond Leung of the Bay Area News Group.

The Warriors re-signed Varejao on a one-year, veteran minimum contract where he will make $980,431. He is expected to back up Zaza Pachulia at the five spot, although his run would have been limited (which is good, he’s not terribly effective anymore).

A variety of injuries — back, Achilles, wrist — have meant the most games Varejao has played in a season since the 2010-11 season is 65. Last season that number was 53, the final 22 of it with the Warriors.

If Varejao can’t go or is limited, the Warriors may look around at other options. But the pickings are slim at this point.