Mikhail Prokhorov

Report: Nets lost $144 million this past season. Even Prokhorov seems to care.


Here’s what’s often left out when discussing the spending of Mikhail Prokhorov and the finances of the Brooklyn Nets: This is a much bigger play for him than just the team. This is a real estate deal.

In addition to the majority of the Nets Prokhorov owns 45 percent of the Barclay’s center and has the right to buy up to 20 percent of the surrounding Atlantic Yards development (worth an estimated $4 billion and increasing). This is why reading into the money lost by teams in a year-over year basis gets convoluted, owners have their hands in a lot of pockets.

But the Nets basketball operations are bathed in $144 million of red ink and are screwing with the NBA’s profit/loss curve, reports Zach Lowe at Grantland.

The basketball side of the Nets’ business is projected to have lost $144 million over the 2013-14 season, according to a confidential memo the league sent to all 30 teams in early June. (Grantland has reviewed and verified the memo with a half-dozen sources.) If that strikes you as out of whack, that’s because it is.

The NBA expects nine teams will end up having lost money once luxury-tax distribution and revenue-sharing payments are finalized. The Nets, with that monster $144 million figure, are the biggest losers. Next in line? The Wizards, with projected losses of about $13 million. That’s right: The Nets lost $131 million more than any other NBA team last season. This is what happens when you pay $90 million in luxury tax for an aging roster and play in a market so large you are ineligible to receive any revenue-sharing help.

Again, that is basketball operations, it does not include any money Prokhorov makes with his other hand on the Barclay’s Center. Still, that is a whopping amount of red ink.

Prokhorov reportedly has ordered a round of belt tightening, which is understandable (and tied to making minority owner Bruce Rattner’s minority share that is for sale look more attractive, Lowe reports). But all this red ink starts with the Russian oligarch himself — he ordered Billy King to put together a big roster that could “open” the Barclays Center and win games. Doing that means thrashing future assets and spending. Billy King has his flaws as a GM but here he was the good employee following company orders.

However the NBA is not the Barclays Premier League — a Russian billionaire cannot just come in and buy players and get his team a title. Not the way it works in a salary cap world.

The Nets may have upgraded their coach if they bring in Lionel Hollins as expected. But If they are really serious about winning it’s going to take some better roster management, not squandering of resources.

And that will help the bottom line, too.

Warriors, TNT to begin NBA season with tribute to Craig Sager

LOS ANGELES, CA - JULY 13:  Honoree Craig Sager accepts the Jimmy V Award for Perserverance onstage during the 2016 ESPYS at Microsoft Theater on July 13, 2016 in Los Angeles, California.  (Photo by Kevin Winter/Getty Images)
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NEW YORK (AP) — The Golden State Warriors and TNT will begin the season with a tribute to sideline reporter Craig Sager, who is battling leukemia.

TNT will unveil a T-shirt during its Tuesday night studio show that was inspired by the suit Sager wore while receiving the Jimmy Valvano Award at this year’s ESPY Awards. Proceeds from the sale of the shirt will benefit the SagerStrong Foundation .

The Warriors will then give their fans at their season opener against San Antonio a Sager Strong T-shirt. The team also will play a message in the arena supporting his fight.

The popular reporter, best known for his colorful suits, won’t be able to work the game as he continues treatment for the disease.

He also designed a special edition Nike sneaker, and 100 pairs will be available via online auction beginning Tuesday through Nov. 4. A portion of the proceeds from the auction will benefit the SagerStrong Foundation.

Before season starts, watch top 10 dunks of preseason

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Starting Tuesday night, the games matter. The dunks matter.

But before we move onto those dunks, let’s have some fun with the top 10 dunks of the meaningless preseason. They may not matter, but they certainly were fun.

Of course there are some expected highlights — can you have a dunk reel without Russell Westbrook? — but game-winning dunks always get the top slot.

Carmelo Anthony says rather than take knee during Anthem he wants action in communities

NEW YORK, NY - MARCH 26:  Carmelo Anthony #7 of the New York Knicks looks on against the Cleveland Cavaliers during their game at Madison Square Garden on March 26, 2016 in New York City.  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 Al Bello/Getty Images)

Colin Kaepernick certainly fired up a discussion — not always the conversation he intended, but a discussion of the treatment of African-Americans in our society was part of that conversation.

No NBA player has taken that same step through the preseason, taking a knee during the national anthem (only anthem singers have done that). Some teams are locking arms during the anthem in a show of solidarity, but they stand in two orderly rows.

Carmelo Anthony explained in an interview with Bleacher Report that what he and many others want to see is the next step in Kaepernick’s protest — action in the community.

“I’m past the gestures,” New York Knicks star Carmelo Anthony told B/R Mag. “I’m past that. It’s all about creating things now and putting things in motion. So, that’s what I’m on. I’m trying to get guys on board with that and help them understand that—enough of the gesturing and talking and all of that stuff—we need to start putting things in place….

“He’s done it,” Anthony said of Kaepernick. “He was courageous enough to do that. He created that. He created the kneeling and that protest. And people fell in line with that. Some people supported it. Some people didn’t. But at the end of the day, and I’m not taking nothing away from him…I just don’t think the gesturing is creating anything. I think it’s bringing awareness, but I think doing stuff and creating awareness in the communities [is more effective].”

What are those things? Players, the players’ union, the NBA itself, and it’s teams are all working to figure that out. This is not something where one blanket program fits all — what is needed in communities in New York is different from the needs in Milwaukee, is different from the needs in Sacramento. This needs to be local, with players involved.

There have already been some steps. The Bulls held a basketball tournament between police and a mentoring agency, which was followed by a panel discussion. Dwyane Wade biked with police through Miami. The Grizzlies have revived the Police Athletic League in Memphis. And that’s just the tip of the iceberg, there are teams from New Orleans to Los Angeles are working to bring youth and police together to talk.

It’s a start. A good start.

There is no one magic gesture, no one simple measure that can heal the deep divides in our nation right now. There are no easy answers, and as a nation we can be too dependent on easy answers. We need to listen. We need to talk to each other, not at each other. We need to practice empathy.

NBA players can help lead that effort, that conversation. It would be the next step after a protest — to act on those steps. Good on Anthony and the NBA for attempting to go down that road.


Rockets change from earlier reports, waive Pablo Prigioni, keep Tyler Ennis

HOUSTON, TX - MAY 17:  Pablo Prigioni #9 of the Houston Rockets celebrates in the third quarter against the Los Angeles Clippers during Game Seven of the Western Conference Semifinals at the Toyota Center for the 2015 NBA Playoffs on May 17, 2015 in Houston, Texas. 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 Scott Halleran/Getty Images)
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The Rockets traded for Tyler Ennis., sending Michael Beasley away in the deal.

Which is why it was a bit of a surprise on Monday when early reports had the Rockets waiving Ennis, but either the report was off or the Rockets changed their minds.

With Patrick Beverley out injured, this leaves the Rockets thin at the traditional point guard spot. However, in practice James Harden, Eric Gordon and others will initiate Mike D’Antoni’s offense, so the bigger challenge will be defensively. Prigioni was not much help there at this point in his career.

I wouldn’t be surprised if a team snaps up Prigioni as insurance, or he certainly can make money overseas. Prigioni played last season as a backup point guard for the Clippers.