The Indiana Pacers aren’t going anywhere.
Not that they were really going to. Still them staying put is good because Indiana is basketball country and you can see that in Bankers Life Fieldhouse, which is a building unlike any other in the NBA — it’s a tribute to the sport.
The Pacers and the City of Indianapolis reached a new 10-year, $160 million deal to keep the team in that building for at least another decade, something that will formally be announced next week reports the Indy Star.
The agreement locks the team into Bankers Life Fieldhouse for 10 years, with three one-year renewal options, according to documents obtained by The Indianapolis Star. In exchange, the city will provide $160 million to cover operating costs and facility upgrades….
The new deal appears to be more costly for the city than the current agreement with the team, though sports business experts say it’s in line with similar arrangements in other cities….
The Capital Improvement Board will subsidize fieldhouse operating costs to the tune of $3.7 million a year. That will cover things such as liability insurance, security and utilities. The CIB also will pay the fieldhouse’s manager $7.1 million a year, with that amount rising 3 percent each year. In addition, the CIB will provide $26.5 million to the Pacers for upgrades to seating, new paint and improvements to locker rooms and concessions.
We can have a debate if you want about whether a city should spend money to help a team worth an estimated value of $415 million (at least according to Forbes magazine). I personally don’t think cities should. That said there is no doubt this will get approved and there is some logic to it for the city.
The city of Indianapolis owns the arena and leases it to the Pacers for $1 a year, according to the report. This will keep the team in the building until the bonds used to build it are paid off. That’s smart. The city also is building up its downtown around the arena and needs it as an anchor to draw foot traffic to the area.
What’s undoubtably good out of this is that one of the early ABA teams is staying put in Indiana. The Pacers anywhere else would feel wrong.
After watching Joakim Noah leave for the Knicks, Bulls owner Jerry Reinsdorf said, “We felt Joakim wasn’t going to be a frontline guy anymore.”
Noah, via Marc Berman of the New York Post:
“He’s entitled to his opinion,’’ Noah said. “I feel I have no regrets about my time in Chicago. I gave it everything I had. To me that’s all that matters. I did everything I could for that organization. I thought it was a little bit of a low blow, but at the end of the day I have nothing but respect for that organization. I’m just excited for this new chapter of my career.”
Reinsdorf was right. Noah, 31, is on the downside of his career. I wouldn’t want him for $72 million over the next four years.
But Noah is also right. He gave the Bulls everything he had.
Noah didn’t deserve that parting shot, even if it was correct.
I also wonder how much this has to do with Chicago correctly assessing Noah’s value vs. the Bulls losing a player whom they wanted to keep and lashing out about it.
The Spurs drafted Ryan Richards No. 49 in 2010, and he could’ve signed with San Antonio any year since. To maintain a second-rounder’s rights, a team must extend a required tender – a one-year contract, surely unguaranteed at the minimum. If the player rejects the offer, those rights extend another year, and the team must then offer the tender again the following year.
Richards finally took the tender this year.
Just a couple days into training camp, the Spurs showed how much they value him.
The San Antonio Spurs today announced that they have waived forward/center Ryan Richards.
San Antonio now has 19 players and one open roster spot. I know what you’re thinking.
Just as he was getting back into the flow after fracturing his foot this summer, Thunder point guard Cameron Payne hurt himself all over again.
The Oklahoma City Thunder announced today that guard Cameron Payne suffered an acute fracture to his fifth metatarsal in Tuesday night’s Blue-White Scrimmage.
This is a troubling setback for the 22-year-old Payne, whom Oklahoma City drafted No. 14 last year. The Thunder didn’t play him enough last season to maximize his development, and now, they won’t the chance to make amends for a while.
Russell Westbrook will obviously still handle the large majority of point guard minutes, and this sets up Ronnie Price to open the season as the primary backup. The 33-year-old Price can play tough defense in limited playing time, but asking him to run the second unit offensively will likely turn out poorly.
Oklahoma City could stagger Westbrook’s and Victor Oladipo‘s minutes, using Oladipo as the lead guard when Westbrook sits. But Oladipo didn’t take to that role in Orlando.
This could also open the door slightly for Semaj Christon to make the regular-season roster as the third healthy point guard. But the Thunder already have 16 players, one more than the regular-season roster limit, with guaranteed salaries – and that doesn’t count Christon. Oklahoma City would have to drop Mitch McGary and one other player to keep Christon, which seems unlikely.
The Thunder will probably just have to grind it out with Price behind Westbrook.
MVP feels wide open this year.
Stephen Curry, Kevin Durant and LeBron James have accounted for the last five. But Curry and Durant are now sharing touches with the Warriors, and LeBron is 31 and has coasted in the last couple regular seasons in the midst of so many Finals runs.
That opens the door for new contenders like Russell Westbrook, James Harden, Kawhi Leonard (my pick), Anthony Davis – and Paul George, the Pacers star who’s announcing his candidacy loud and clear.
George on SiriusXM NBA Radio:
I want to be MVP. I definitely want to be the MVP this year. It’s tough, as always. It would be a challenge, but with coach Nate and the guys that I got here, I’m in position to move into that spot as long as I remain being me, being a leader, being aggressive and wanting that. It’s not mine for the taking. I got to go get it. And this is my year to go get it.
The MVP usually goes to a player on a top-two seed, and that’ll be a tough nut for Indiana to crack with the Cavaliers, Celtics and Raptors standing in the way. But, again, this is an atypical year with most top teams so balanced.
If the Pacers hit the high end of their potential outcomes, George would be a strong candidate. He’s is the second-best player in the East, so most nights, he’ll be the best player on the court. That goes a long way for perception.
The best thing George can do for his case is help Indiana win big. If he does that, he’ll surely impress enough individually along the way to warrant major consideration.