Something to watch: Grizzlies minority owners buying team next month

Associated Press
0 Comments

The Houston Rockets selling for $2.2 billion has other owners considering their options. That includes Brooklyn Nets owner Mikhail Prokhorov is looking to sell at the right price and timeline.

But the first team to be sold could be the Memphis Grizzlies.

A couple of minority owners have the rights to make an offer on the team this October and it’s possible primary owner Robert Pera may take it. Pera owns 30 percent of the team, the most of any minority owner (making him the primary owner), but Steve Kaplan and Daniel Straus have the rights to make an offer for the team, something broken down by ESPN back in 2016 and updated recently by The Ringer.

At that time, Kaplan and fellow minority owner Daniel Straus, an East Coast health care magnate and the team’s vice chairman, have an option to make a bid for controlling interest in the team at a price of their choice, sources said. At that point, Pera would have two options: buy out Kaplan and Straus at that named price, or sell his shares to them based on the same valuation. Control of the decision ultimately would rest with Pera.

Kapan and Pera have had a feud, which is part of this. The agreement set up between Pera and Kaplan/Straus back when Pera bought the teams says that Pera either needs to sell his shares to them at the price Kaplan/Straus set or buy them out, based on their percentage of that valuation. Pera is a largely absentee owner at this point who could turn a healthy profit selling his share.

There are 20 owners of the Grizzlies — including Justin Timberlake — all with a minority share, Pera just has the largest. Kaplan wants his own team, he was part of a group trying to buy both the Hawks and then the Timberwolves. This is his chance.

How much are the Grizzlies worth? Forbes estimated $790 million (their estimates are notoriously off), but based on what Forbes valued the Rockets at vs. what they sold for, the Memphis number is probably close to $1 billion. Pera owns 30 percent of the team, so we are talking around $300 million. If Kaplan bought the entire 30 percent, he would own a little more than 44 percent of the team.

Right now the Grizzlies are a profitable team, largely because the community has bought into with the “grit & grind” style and attitude and filled the building. However, while the team has retained Marc Gasol and Mike Conley, it has gotten older and will be in a fight to make the playoffs this season. A rebuild is in its future, which could impact future income and the sale price.

It’s all just something to watch. One way or another, there will be some movement in the Grizzlies ownership next month.

Knicks’ Obi Toppin out at least 2-3 weeks with knee fracture

0 Comments

Obi Toppin is a fan favorite and Knicks faithful were hoping to see more of him as the season progresses.

However, they are not going to see any of him for at least the next 2-3 weeks due to a fractured knee, the team announced.

Toppin suffered the injury in New York’s win Wednesday over Atlanta, the same game that saw Dejounte Murray sprain his ankle leading him to be out for a few weeks.

Toppin — the reigning All-Star Weekend Slam Dunk contest champion — is averaging 7.7 points in 25 games off the bench. With him out, coach Tom Thibodeau suggested he could lean more on RJ Barrett, asking him to play up at the four.

Report: Zach LaVine not available for trade from Bulls

0 Comments

Front offices of potential contenders from Los Angeles to Philadelphia have their eyes on the Chicago Bulls — will the struggling Bulls pivot to chase Victor Wembanyama and the top of the lottery, making them sellers at the trade deadline? Teams have interest in Chicago’s three stars: Zach LaVine, DeMar DeRozan, and Nikola Vucevic.

Except just-extended LaVine isn’t currently available, ESPN’s Adrian Wojnarowski said Wednesday on his network’s pregame show discussing the Knicks.

“The Knicks will be watching Chicago. Is Zach LaVine a player who before the deadline possibly can become available? He certainly isn’t now.”

Chicago is not yet ready to pivot to tanking, so none of its stars are truly available. That said, the Bulls don’t look like a playoff team, they miss Lonzo Ball, and even if things do come together where do they stand in the East hierarchy? If the Bulls do become sellers, they aren’t going to tear this team down to the studs, it would likely be trading just one star. Possibly a second if the offer was strong enough.

LaVine — who signed a five-year, $215 million extension this past summer — is the least likely to be available, league sources have told NBC Sports. The expectation is that Vucevic would be the Bull first made available if the Bulls decide to start seriously listening to offers. And that remains an “if.”

That said, front offices around the league have their eyes trained on Chicago.

Dejounte Murray added to growing Hawks injury report, out 2-3 weeks with sprained ankle

0 Comments

John Collins is out for at least another week with a sprained ankle. DeAndre Hunter has been out with a strained hip flexor.

Now you can add Dejounte Murray to the Hawks’ growing injury report, he is out at least 2-3 weeks with a sprained ankle, Shams Charania and Sam Amick of The Athletic report.

The injury happened on a closeout from RJ Barrett of the Knicks.

The Hawks have already had chemistry and fit issues this season, and missing key players for an extended period only exacerbates the problem. Atlanta looked flat getting their doors blown off by the Knicks Wednesday night, 113-89, a game that added to a string where they have lost 5-of-7. Now they will have to find a way to right the ship without their second-best playmaker.

There also is an update on the Hawks’ play-by-play announcer Bob Rathbun.

NBA, WNBA players react to news Brittney Griner coming home

0 Comments

Brittney Griner is finally coming home.

The WNBA and USA Basketball star has spent 10 months in Russian prisons — including being convicted and sent to a Russian penal colony — for having vape canisters with small amounts of cannabis oil in her luggage as she went through Russian airport security back in February. She became a political pawn in the tensions between the United States and Russia, mostly surrounding Russia’s invasion of the Ukraine, and was freed via a prisoner swap announced Thursday.

The basketball world — WNBA players in particular — had worked to keep her name front and not let Griner be forgotten during this ordeal, pushing President Joe Biden and the government to reach a deal. With the news Griner was freed, NBA and WNBA players took to social media to react.

“Brittney has had to endure an unimaginable situation and we’re thrilled that she is on her way home to her family and friends,” NBA Commissioner Adam Silver said. “We thank the members of the NBA and WNBA community who never wavered in their efforts to raise awareness of Brittney’s unjust circumstances.”

“We are overwhelmed with relief and gratitude that our sister Brittney Griner is finally coming home,” the NBPA said in a statement. “Her strength and courage throughout this last year have been truly remarkable, as have the efforts of her wife Cherelle, our WNBPA sisters, Terri Jackson and the WNBPA staff, who have been relentless in their call to bring Brittney home. We know this homecoming would not have been possible without their unwavering support and continued work to keep BG always top of mind, and our players are honored to have contributed to those efforts. While this is a celebratory moment for our sisters and us, we must not forget the other political prisoners who remain in dire circumstances all over the world. These individuals must be remembered and fought for every single day as BG was so that they too can have this moment. Welcome home Brittney, we are so happy to have you back! #WeAreBG”