Report: Sale of Milwaukee Bucks for record $550 million agreed upon, team to stay in Milwaukee

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It has been rumored for weeks, but Marc Stein of ESPN reports it will become official today — longtime owner Herb Kohl will sell the Milwaukee Bucks to a group committed to keeping them in Milwaukee.

Herb Kohl purchased the Bucks in 1985 for $18 million. Just remember that next time an owner talks about their annual losses with their team (franchise valuation is not part of that calculation).

This looks like a big win for Bucks fans, at least at first glance.

That sale price is 27 percent more than the $405 million that Forbes estimated the Bucks to be worth. The sale will need to be approved by the league’s owners after the buyers go through a thorough background check. However the sales are almost always approved.

Kohl had been looking for new owners for some time but refused to talk to people such as Chris Hansen and his Seattle group because he only wanted an owner that would keep the Bucks in Milwaukee.

Marc Lasry and Wes Edens, are hedge-fund billionaires based out of New York who Forbes estimates at having a combined net worth around $3 billion. It is unclear yet if there were be some minority owners joining the group based out of Milwaukee (or even somewhere in the Midwest), to ease concerns about moving the team.

To keep the team in Milwaukee will require a new arena — Commissioner Adam Silver has said as much, the current arena lacks many luxury boxes — and how that gets done will be the big question. Lasry and Edens will have to pony up some cash, Kohl may as well, but they also likely will ask for public money and that would be a much more difficult get.

It is not clear yet what happens if a new arena cannot get built, and on what timeline all that would happen.

Also not clear is what that means for the current front office and coaching staff. Getting the sale approved likely will not impact this draft — where the Bucks have the best odds of getting the No. 1 pick following their terrible season — or maybe even next season. But new owners inevitably bring changes.

They buy a team with a potentially good core of young players — Giannis Antetokounmpo, John Henson, Larry Sanders, plus this year’s draft pick — that could develop into an interesting team in a few years with the right management and coach. And if they start to win they will sell out any new building.

Wizards hire WNBA All-Star Kristi Toliver as assistant coach

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WASHINGTON (AP) — WNBA All-Star Kristi Toliver will be an assistant coach for player development for the NBA’s Washington Wizards this season.

Toliver’s job was one of several changes to coach Scott Brooks’ staff announced by the Wizards on Tuesday, two days before they host the Miami Heat to open the season.

Toliver played for the Washington Mystics and helped them reach the WNBA Finals this year, when she also assisted the Wizards’ coaching staff during the NBA Summer League and training game. She is a 10-year pro and two-time All-Star who won an NCAA title at Maryland.

She joins David Adkins, Mike Terpstra and Maz Trakh on the back of the Wizards’ bench. Alex McLean and Landon Tatum were both promoted to assistant coach for player development.

Robert Pack and Ryan Richman will be with Brooks and Tony Brown on the front of the bench.

Pack was a scout for the Portland Trail Blazers last season, after spending two seasons as an assistant coach for the New Orleans Pelicans. He also was an assistant to Brooks with the Oklahoma City Thunder in 2013-15.

 

Vince Carter to be second-oldest opening-game starter ever

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Vince Carter is 42 years old. He’s more than a decade older than all his Hawks teammates. He was drafted before Atlanta point guard Trae Young was even born.

Yet, after all these years, Carter is still starting in the NBA.

JuliaKate E. Culpepper of The Atlanta Journal-Constitution:

Rookie Trae Young will start his first regular-season NBA game alongside expected starters Kent Bazemore, Taurean Prince, Vince Carter and Alex Lin.

When Atlanta visits the Knicks tomorrow, that will make Carter – 41 years and 264 days old – the second-oldest opening-game starter ever. Only Robert Parish – who was 42 years and 65 days old with the 1995 Hornets – was older.

Here’s every opening-game start by a player over 40:

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Don’t expect Carter to challenge Parish’s record next year. Carter said he’ll probably retire after this season. Even if he bucks the odds to play again, odds are strongly against him being on a team that’d start him.

But tomorrow will give Carter one more accomplishment in his incredible career.

Austin Rivers: Everybody, ‘so f—ing gassed up on the Celtics and the Sixers,’ overlooking Wizards and Pacers

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We picked the Celtics, Raptors, 76ers and Bucks to be the top four teams in the Eastern Conference this year and ranked the Wizards and Pacers next. If that’s not the consensus, it’s close to it.

Wizards guard Austin Rivers, via James Herbert of CBSSports.com:

“I think we’re heavily slept-on,” he tells me. “Team’s been to the playoffs, what, the last five, four or five years? Then going into this year, you add me, Dwight Howard, Jeff Green and nobody seems to talk about us. So I just think we’re heavily slept-on, but that’s fine. At the end of the day, nothing really matters until the season starts and we set that tone for ourselves. I get the hype of a couple of the other teams, but I think we have a chance to compete with the best of the East.”

I tell him I recently spoke to Tyreke Evans, who said something similar about the Indiana Pacers. Rivers gets more animated.

“Yeah, I would say Indiana’s the other team that gets slept-on, too,” he says. “You look at Indiana, they took Cleveland to seven games and then damn near, arguably could have beaten them.”

Rivers rattles off Evans’ stats from last season, then continues: “That’s who they just added to the team? And nobody seems to talk about the Pacers because everybody’s so f—ing gassed up on the Celtics and the Sixers. And rightfully so: they’re both talented teams. But Indiana is just as good as both those teams. And I think we’re in the same situation.”

I agree the Wizards and Pacers had positive offseasons. But Indiana might have been punching slightly above its weight as a surprise team last year, and Washington’s problem has often been overconfidence.

In that regard, Rivers – acquired in an offseason trade from the Clippers – is already fitting right in. The brashness might be good for Rivers, but it’s not what the Wizards need.

Washington could have a good season. John Wall, Bradley Beal and Otto Porter are a strong starting point in the Eastern Conference, and Dwight Howard could help with the right attitude and health. Rivers is a quality reserve. But let’s pump the brakes on calling Jeff Green a key addition, though Rivers would be only one of many – including someone in his immediate family – to make that error.

Report: Klay Thompson doesn’t plan to give Warriors discount

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Klay Thompson, who will become an unrestricted free agent next summer, has said many times he plans to stay with the Warriors. He even discussed signing a contract extension, which would have capped his compensation far below what he could get in free agency.

But Thompson is apparently no longer interested in offering Golden State that savings.

Zach Lowe of ESPN:

Thompson has no plans to take a discount, and the Warriors don’t expect him to, league sources say.

Thompson’s max next summer projects be about about $221 million over five years if he makes an All-NBA team (or wins Defensive Player of the Year) this season or about $190 million over five years if he doesn’t.

That’s a steep bill, but the Warriors have little choice but to pay it. They’re in the midst of maybe the greatest run in NBA history, and they’re generating massive revenue. Cheapness would be a terrible reason to break up this team. Thompson is a key contributor, and at least his outside shooting should help the 28-year-old age well.

But costs will get steep in a hurry. If the Warriors re-sign Thompson and Kevin Durant next summer and Draymond Green the following summer to max – not even supermax – deals, keep Stephen Curry then fill the roster with 10 minimum-salary free agents, their projected payroll in 2020-21 would be… about $288 million, including about $115 million in luxury tax. That might be untenable, even for Golden State.

Perhaps, Durant will take one decision out of the Warriors’ hands. But if Durant stays and Thompson seeks every penny, Green could face a belt-tightening team in 2020 free agency.