Just more than 24 hours after the NBA rejected a plan to move the Sacramento Kings to Seattle — essentially killing a sale of the team to a Seattle group — the Maloof family has reached a deal to sell the Kings to a Sacramento group that had put a counter offer before the league.
The deal was expected to be reached quickly and it is now done, reports the Sacramento Bee.
A Sacramento investors group has reached a deal with the Maloof family to buy the Kings for an NBA record valuation of $535 million, a source has told The Sacramento Bee.
That translates to a price of $347 million for the 65 percent of the team controlled by the Maloofs. The agreement, reached today, is expected to be announced sometime Friday. If the NBA approves the deal, escrow is expected to close at the end of May.
The Sacramento group was put together by the city’s Mayor Kevin Johnson and is led by billionaire Vivek Ranadive. The group has already purchased land and has plans for a new stadium in downtown Sacramento.
This is the culmination of a big win for Sacramento and a sticky mess for the NBA. The Maloof family had exhausted the good will they had built up in Sacramento in recent years and had almost single handedly killed a couple arena proposals to help keep the Kings in town. The family said the team was not for sale, until it was leaked the family had an agreement to sell the team to a Seattle group led by Chris Hansen.
That was a strong ownership group and offer from Seattle. Sacramento Mayor Johnson went to David Stern and basically asked, “What do I have to do to keep the team?” Stern laid out a long list that seemed hard to reach — put together a strong ownership group that could match the offer, come up with an arena plan and buy the land for it, and more. Credit Johnson and Sacramento, they got it done. And with that Seattle was on the outside because the advantage always belonged to the incumbent, even though that’s not what the investors and people of Seattle were sold.
But this is a day for celebrating in Sacramento — they get to keep their team. They get new owners that will help give them some direction on the court (we hope).
LeBron James is the best player on the planet when he dials it up, and he reminded every one of that leading his Cavaliers to the NBA title last season.
On the other side of the scale, after losing the title, the Golden State Warriors reloaded by adding Kevin Durant to a roster that already won 73 games and went to Game 7 of the NBA Finals last season. Along those same lines, the Spurs added Pau Gasol to replace Tim Duncan, and the Celtics picked up Al Horford to bolster a strong young team.
Joe Varden of The Cleveland Plain Dealer asked LeBron what he thought of all these teams stacking up.
“I know teams switch and pick up new coaches or new players, and their whole goal is kind of they want to beat me,” James told cleveland.com, in a candid discussion about the upcoming year and his place in the sport at age 31, in this his 14th season. “It’s never just about me, but I always hear them saying, ‘We gotta beat LeBron.’ It’s not just me on the court, but I understand that teams get together in this conference and across the league to try to beat me.”
If anyone should be used to having a target on his back, it’s LeBron.
And he’s not wrong.
The Warriors adding Durant was all styming how Cleveland and everyone else can defend the Warriors — particularly the small-ball “death lineup.” Oklahoma City and Cleveland had success putting their best defensive forward (Durant of OKC and LeBron for Clevealnd) on Draymond Green and switiching his pick-and-roll with Curry, then hoping Harrison Barnes didn’t make their big pay in a mismatch. Barnes couldn’t, it worked.
Now take out Barnes and put in Durant. Good luck defending that lineup now.
LeBron is right, the Warriors did target him. He’s the champ. He and the Cavaliers are the bar to clear. Can he and Cleveland rise up o task is the real question.
ATLANTA (AP) — NBA TV personality Kristen Ledlow says she was robbed at gunpoint at her home.
The host of “NBA Inside Stuff” said on Twitter and Instagram Sunday that she was held up the day before “by three men who knew who I was, where I lived and were waiting for me when I got home.”
She says in addition to stealing her car, purse and phone, the thieves took her “sense of security.” She says she’ll be taking a break from social media as a result of the incident because she says she “will not become a slave to fear.”
Ledlow didn’t say where the incident took place. NBA TV is based in Atlanta.
Miami felt set at point guard with Goran Dragic starting and the up-and-coming Tyler Johnson as his backup. They decided veteran Beno Udrih wasn’t part of the future and waived him.
Detroit, looking for some help at the one until Reggie Jackson returns, saw a dependable veteran guard on the market. So they snapped him up, reports Shams Charnaria of The Vertical at Yahoo Sports.
At age 34 we are seeing Udrih’s game start to slip. Still, he has valuable NBA skills as a point guard: he doesn’t turn the ball over, can run an offense, and if you ignore him coming off a pick he will bury the shot.
Jackson is expected to be out at least another six weeks after getting PRP therapy to deal with knee tendonitis (he hopes to be back sooner). That leaves Ish Smith as the starting point guard in the short term; Udrih will help provide solid depth at the position.
The Pistons need to keep their heads above water until Jackson can return.
The first 12 years of the NBA’s salary-cap era went without a lockout. The league again avoided a lockout for a dozen straight years between 1999 to 2011.
Now, with a new Collective Bargaining Agreement coming soon, the NBA is setting itself up for another 12 years of labor peace.
Adrian Wojnarowski of Yahoo Sports:
The NBA and National Basketball Players Association are working on a seven-year extension to the Collective Bargaining Agreement, with a mutual opt-out in six years, league sources told The Vertical.
The seven-year deal could potentially deliver the NBA labor peace through the 2023-24 season, unless the opt-outs are exercised in 2022, league sources told The Vertical.
The new CBA will begin with the 2017-18 season.
Expect an opt out after six years. By then, there’s usually something to renegotiate.
Hope for another quick resolution, like we’re getting now.
And if neither the owners nor players opt out, be pleasantly surprised at an unprecedented 13th straight year without a lockout in this era.