Kings Sale Basketball

Report: Deal struck to sell Kings to Sacramento group

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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).

Cavaliers fan makes good on bet, eats shirt after Warriors win West

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Don’t make a bet you’re not willing to follow through on. I mean, we all do it — “If Trump wins I’m moving to Canada” — but never really mean it. We don’t follow through.

Except sometimes people do.

Reddit NBA user ‘PARTYxDIRTYDAN’ made a bet that he would eat his shirt if the Warriors repeated as Western Conference champions. Call it a bad beat if you want — he came about as close to winning that bet as he could without actually winning it — but the man was good to his word. He had a little BBQ sauce on it, but he ate his shirt.

He probably shouldn’t make a similar bet in the Finals, no matter how big a Cavs fan he is.

(Hat tip Deadspin)

NBC/PBT Podcast: Cavaliers vs. Warriors NBA Finals preview with Dan Feldman

CLEVELAND, OH - JANUARY 18: Stephen Curry #30 of the Golden State Warriors and LeBron James #23 of the Cleveland Cavaliers react during the first half at Quicken Loans Arena on January 18, 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. Mandatory copyright notice. (Photo by Jason Miller/Getty Images)
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LeBron James got what he probably wanted deep down — a second chance at Stephen Curry and the Golden State Warriors in the NBA Finals (starting Thursday night). It’s a chance for revenge from last season and to knock Curry off his pedestal.

Except this is a difficult matchup for the Cavaliers and their current style of play, something Kurt Helin and Dan Feldman of NBC Sports get into in this breakdown of what’s to come on the NBA’s biggest stage.

They both foresee a long couple of weeks coming for Kevin Love, and difficulty for the Cavaliers getting enough stops. While the Cavaliers now want to play faster and shoot threes, they may have to change tactics against the Warriors.

As always, you can listen to the podcast below, or listen and subscribe via iTunes, download it directly here, or you can check out our new PBT Podcast homepage, which has the most recent episodes available. If you have the Stitcher app, you can listen there as well.

Early NBA Finals betting money flowing to Cleveland

CLEVELAND, OH - JUNE 16:  LeBron James #23 of the Cleveland Cavaliers shakes hands with Stephen Curry #30 of the Golden State Warriors after the Warriors defeated the Cavs 105 to 97 to win Game Six of the 2015 NBA Finals at Quicken Loans Arena on June 16, 2015 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 Getty Images License Agreement.  (Photo by Ezra Shaw/Getty Images)
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Golden State is the clear favorites to beat the Cavaliers and repeat as NBA Champions.

But for gamblers, there’s not much money to be made in taking the safe route, where you have to risk a lot to win a little. The money is on the underdog.

Which is why the early cash has gone to Cleveland, something reported by online gambling site Bovada.lv. Here are their current odds to win the series:

Cleveland Cavaliers +175 (7/4)
Golden State Warriors -210 (10/21)

(That means for every $100 bet on Cleveland the gambler would get $175 if they win; where with Golden State it would take a $210 bet to win $100.)

“We opened the NBA Finals at Cleveland +200 (2/1) and Golden State -240 (5/12) and the public pounced on Cleveland, forcing the adjustment of the lines to +175 and -210,” said Kevin Bradley, Bovada.lv Sportsbook Manager. “While the wagering has evened out a bit more on each side, 60% of the public is currently on the Cavaliers.”

This just makes sense as a gambler — why would I risk so much to win with Golden State? I get the much better payoff with a smaller amount bet with Cleveland, even if the outcome is less likely to go my way.

Remember, for a book the goal is often even betting on both sides, so that they rake in their percentage and win regardless of the outcome. That said, the books may be Warriors fans for the next couple of weeks.

Bismack Biyombo says he wants to stay with Raptors, would take hometown discount

TORONTO, ON - MAY 15:  Bismack Biyombo #8 of the Toronto Raptors celebrates late in the second half of Game Seven of the Eastern Conference Quarterfinals against the Miami Heat during the 2016 NBA Playoffs at the Air Canada Centre on May 15, 2016 in Toronto, Ontario, Canada.  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 Vaughn Ridley/Getty Images)
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Bismack Biyombo made $3 million this season playing for the Raptors.

Next season he is going to make five times that or more playing somewhere. Biyombo is a free agent and the going rate could be $17 million a year.

After a breakout playoffs, Biyombo wants to stay in Toronto with the Raptors and would even consider a hometown discount to make that happen. That’s what he said on Sportsnet 590 The FAN’s Andrew Walker Show. Does Biyombo expect to wear a Raptors jersey next season?

“Honestly, I do. We still have some unfinished business. It was so much fun to see the team go from last year to this year making the Eastern Conference finals. Be it would be fun to go even further next season.”

The Raptors want to bring him back, but the salary cap makes it difficult. The Raptors do not have Biyombo’s Bird rights, so they need to use their salary cap space to re-sign him. The Raptors top priority is bringing back DeMar DeRozan (who will be a max or near max player), and remember they gave Jonas Valanciunas a four-year, $64 million contract extension last summer.

Would Biyombo be open to a discount to stay in Toronto?

“Yeah. Things can always be worked out. I’ve said that to my people, I’ve said that to Masai. When the right time comes I’d be open to figuring something out. At the end of the day it’s for fun, not money. It’s not always about money. Money is great, but at the same time I ask ‘how much fun am I going to have? The city is great, the team is great, and we’re winning.”

The question may be how big a discount are we talking about? Let’s say Team X does offer $17 million a year for four years, would Biyombo start at $15 million to stay? $13 million? Where is that number?

Next season Biyombo is going to make more money than he had in his entire NBA career up to this point. This is set your family up for generations money, and while the sentiment that the game should be for fun is what we as fans of the game want to hear, how much money would you leave on the table in his shoes?

With the Raptors talking about giving Valanciunas a bigger role in the offense next season, how much can they afford to pay his backup? Biyombo could be on the move.