When Herb Kohl agreed to a deal then announced the sale of the Milwaukee Bucks to New York based hedge fund managers Marc Lasry and Wes Edens for a record $550 million, Kohl said he was confident the team was not moving. Lasry and Edens talked about putting together a unified effort to get a new arena built — and started by 2017 when the current lease is up — because their goal is to keep the team in Milwaukee.
Now we know why.
The contract to sell the team says if Lasry and Edens can’t get the area built the league can buy the team back from them rather than let them move it, reports Brian Windhorst at ESPN.
The NBA has the right to buy back the Milwaukee Bucks from incoming owners Wesley Edens and Mark Lasry if a deal to a bring a new arena to the city is not in place by November 2017, according to sources briefed on the situation.
Sources told ESPN.com that the sale agreement announced last week to transfer the Bucks from longtime owner Herb Kohl to Edens and Lasry for a purchase price of $550 million includes a provision that allows the league to buy back the team for $575 million if construction on a new building in Milwaukee is not underway by the deadline.
What that means is that Lasry and Edens can’t turn around and sell to Chris Hansen in Seattle or some other outside group looking to move the team and just turn a healthy profit as the middlemen (not that $25 million is shabby).
The question becomes if Lasry and Edens can’t get it built — with Kohl putting $100 million in the kitty and the new owners putting up that much or more of their own cash — then who can? And if this group can’t get an arena built, should the team be sold to be moved?
Adam Silver doesn’t want that (he pushed behind the scenes to give Sacramento the chance to hold off Seattle’s efforts last year), he believes in franchise stability. This seems like a situation that is prime to get that new arena built in Milwaukee and keep that historic franchise right there.
But now we know what the consequences are if the arena deal falters.
Any controversy over C.J. McCollum‘s suspension for the season-opener should be put to rest. The Trail Blazers fared fine without him.
More than fine.
Portland beat the Suns, 124-76, Wednesday. The 48-point margin is the largest ever in a season opener, even as the Trail Blazers let a 58-point fourth-quarter lead dwindle.
Here are the most lopsided season-openers in NBA history (openers for both teams appearing twice):
The 48-point defeat is also the Suns’ worst lost in franchise history, topping a 44-point loss to the Seattle SuperSonics in 1988. It could be a long year in Phoenix.
Marcus Smart and Matthew Dellavedova thrive on aggravating opponents, so when matched up, of course they aggravated each other.
Deduct points from Smart for pulling the hold-me-back charade behind a referee. Plus, Dellavedova’s Bucks beat Smart’s Celtics, 108-100.
The Nets’ projected record this season came under greater scrutiny when the Celtics traded Brooklyn’s unprotected first-round pick to the Cavaliers in the Kyrie Irving trade. After finishing third-to-last and last the previous two years, were the Nets poised to take a step forward, or would they convey a very high pick to the Cavs?
Jeremy Lin, who missed 46 games last season, getting healthy was a reason for optimism in Brooklyn and pessimism in Cleveland. But it appears the veteran guard could be out a while.
Adrian Wojnarowski of ESPN:
Billy Reinhardt of Nets Daily:
If the injury is as bad as feared, what a bummer for Lin. He came to Brooklyn expecting to play a leading role on a developing team, and he just can’t stay healthy.
The Nets were probably more focused on developing their younger players, but – especially without their own draft picks – there was no harm in shooting for the playoffs. This appears to a blow to that (already unlikely) dream.
It’s a boon to the Cavaliers, though. And whenever something significantly affects LeBron James‘ team, it has ramifications into the entire power dynamic of the Eastern Conference. For an injury to a player on a team most expect to be bad, the medical developments here will be tracked closely around the league.
Remember when Aaron Gordon was a promising fun player?
The Magic sidetracked him by playing him at small forward most of last season. But back at power forward, Gordon showed how he could push the pace as a four in Orlando’s season-opening win over the Heat.
There’s obviously flair in passing to yourself off the backboard, but it’s a sound way to improve position. Gordon did that to fantastic effect.