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Joseph Tsai to buy rest of Nets, Barclays Arena for $3.4 billion

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NEW YORK — Joe Tsai has agreed to buy the remaining 51 percent of the Brooklyn Nets and Barclays Center from Mikhail Prokhorov in deals that two people with knowledge of the details say are worth about $3.4 billion.

Terms were not disclosed Friday, but the people told The Associated Press that Tsai is paying about $2.35 billion for the Nets – a record for a U.S. pro sports franchise – and nearly $1 billion in a separate transaction for the arena. They spoke on condition of anonymity because the transactions have not yet been completed.

Tsai is the co-founder and executive vice president of the Alibaba Group, the Chinese e-commerce giant. He already had purchased a 49 percent stake in the team from Prokhorov in 2018, with the option to become controlling owner in four years.

Instead, he pushed up that timeline for full ownership of a team on the rise after signing superstars Kevin Durant and Kyrie Irving in July.

Prokhorov, a Russian billionaire, became the NBA’s first non-North American owner in 2010 and oversaw the Nets’ move from New Jersey to Brooklyn two years later. He spent big in the first couple years after the move in a quest to chase a championship, but the team soon became one of the worst in the NBA before rallying to return to the playoffs last season.

“It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” Prokhorov said in a statement. “The team is in a better place today than ever before and I know that Joe will build on that success, while continuing to deliver the guest experience at Barclays Center that our fans, employees, and colleagues in the industry enjoy.”

The deal is expected to be completed by the end of September and is subject to approval by the NBA’s Board of Governors.

That would put Tsai, a native of Taiwan, in full control of the team by the time the Nets head to China to play two exhibition games against the Los Angeles Lakers in October. That comes at the start of a season of renewed excitement for the Nets, who just three seasons ago won an NBA-worst 20 games but are set to make a big move up the standings after landing two of the best players on the market when free agency opened.

“I’ve had the opportunity to witness up close the Brooklyn Nets rebuild that Mikhail started a few years ago. He hired a front office and coaching staff focused on player development, he supported the organization with all his resources, and he refused to tank,” Tsai said. “I will be the beneficiary of Mikhail’s vision, which put the Nets in a great position to compete, and for which I am incredibly grateful.”

Brett Yormark, the CEO of BSE Global, which manages the team and the arena, will oversee the transition before leaving for a new role.

Did Hornets GM tell Kobe Bryant on draft night, ‘We couldn’t have used you anyway,’ as Bryant claims?

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Kobe Bryant spent 16 days as a Charlotte Hornet.

Long enough to develop resentment for the Hornets.

Charlotte drafted Bryant No. 13 in 1996 to trade him to the Lakers for Vlade Divac. Divac threatened to retire, but eventually relented on joining the Hornets. After the moratorium, Bryant went to Los Angeles, where he had a Hall of Fame career.

He hasn’t let go of draft night, though.

Bryant on the Knuckleheads podcast:

You get drafted, you get on the phone with the GM of the team that drafted you and all this stuff. So, I get on the phone with the Charlotte GM. He just tells me, “Hey, you know what’s going on.” Like, “Yeah. Yeah, yeah.” And you’ve got media in front of you and all that. And he goes, “Well, it’s a good thing we’re trading you, because we couldn’t have used you anyway.” You motherf. OK. OK. Alright. So, that’s what happened on draft night. So, I was already triggered. I was triggered. I was ready to go to the gym. Like f— the media. I don’t want to do any more interviews. I’m trying to – what are you telling me that for? I’m 17. What are you telling? OK. Alright.

The Hornets’ general manager was Bob Bass. He died last year, so he can’t tell his side of this story.

However, in previous tellings, Bryant said Charlotte coach Dave Cowens delivered that message. Cowens denied it.

Did Bryant forget whether he talked to the general manager or coach? Forget which position Cowens held? That’d be perfectly understandable decades later.

Or maybe both Bass and Cowens were on the call. Perhaps, Bryant initially thought Cowens said it and more recently learned it was Bass. That could explain Cowens’ denial.

But…

Stephen A. Smith of The Inquirer at the time:

On Wednesday, the Hornets took Bryant with the 13th pick of the NBA draft. Within minutes, there was talk of Bryant’s going to L.A. Dave Cowens, the Hornets’ new coach, was among those who raised the possibility, dismissing Bryant as “a kid” who would have a hard time playing for Charlotte.

That was a reasonable expectation. Bryant was just a teenager. Charlotte had veteran wings like Glen Rice and Dell Curry.

But Bryant was that special. He quickly became a contributor with the Lakers then developed into an all-time great.

In part because he fanned his competitive fire with perceived slights like this one.

Bryant is right: Who would say that to a 17-year-old? It just sounds cruel. Of course, Bryant would want to avenge being treated that way.

Here’s my guess: Someone from Charlotte – either Cowens or Bass – tried to comfort Bryant in a chaotic situation by saying the trade would work out for the best because the Hornets wouldn’t have played him much. It was supposed to be nice. Bryant took it as an insult.

But that’s just a guess. It was a private conversation many years ago. We’ll probably never know exactly what was said, let alone what was intended.

Report: Rockets signing Thabo Sefolosha

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The Rockets’ minicamp has produced a signing – Thabo Sefolosha.

Marc Stein of The New York Times:

This is surely for the minimum. It’s unclear how much is guaranteed.

Houston has just 10 players with guaranteed salaries, including Nene’s dud of a deal. So, there’s room for Sefolosha to make the regular-season roster.

Sefolosha should fit well in Houston. He’s a smart, versatile defender and can knock down corner 3s. James Harden and Russell Westbrook will allow Sefolosha to concentrate on his strengths in a limited role. The biggest question is how much the 35-year-old Sefolosha has left in the tank.

NBA to better define traveling rule, increase enforcement, explain rule to players, fans

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Gather and two steps.

That is how the NBA has defined the traveling rule for many years now. A player can take a step if he is in the process of “gathering” a dribble or pass, then has two steps. Players such as James Harden have stretched that to the limit, frustrating opponents and non-Rockets fans, but it’s legal.

Now the NBA is looking to better define that “gather” step, then crackdown on enforcement of the rule. With that will come an education program for everyone from players to fans. All of this was approved at the NBA’s Board of Governors’ meeting in New York on Friday.

“One of the most misunderstood rules in our game is how traveling is interpreted and appropriately called,” Byron Spruell, NBA President, League Operations, said in a statement. “Revising the language of certain areas of the rule is part of our three-pronged approach to address the uncertainty around traveling.  This approach also includes an enforcement plan to make traveling a point of emphasis for our officiating staff, along with an aggressive education plan to increase understanding of the rule by players, coaches, media and fans.”

That “aggressive education plan” should be interesting.

At the meeting, the owners also made gamblers everywhere happy by saying that starting lineups now need to be submitted by coaches 30 minutes prior to the start of the game. In past years that had been only 10 minutes (and road teams complained that was not evenly enforced between home and road teams all the time).

This is a good bit of transparency by the league, as have been some of the recent changes in requirements of announcing injuries. But make no mistake, this rule change is all about gambling.

Under new anti-tampering rules, Adam Silver empowered to suspend execs, take away picks, void contracts

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LeBron James publicly courted Anthony Davis. Many free agents seemingly struck deals before free agency even began. Kawhi Leonard‘s uncle/advisor reportedly sought prohibited extra benefits from teams.

The NBA finally reached its breaking point on tampering and circumvention.

After late apprehension, the league will enact stricter enforcement.

Adrian Wojnarowski of ESPN:

I’m not surprised this passed unanimously. NBA commissioner Adam Silver wanted this to happen and wasn’t going to have owners vote unless he knew it’d pass. At that point, any protest-voting owners would just put themselves at odds with the commissioner. Not worth it.

We’ll see how long this crackdown lasts. I think that anonymous general manager represents many. If nobody is tampering, it’s fine not to tamper. But if some teams tamper, nobody wants to be at a disadvantage.

This could slowly creep back toward the old status quo. But if there’s a clear violator early, Silver will have an opportunity to send a message. We’ll see whether he takes it.

This should be less about which communication is or isn’t allowed. It’s about fairness.

That’s why it’s important the NBA has rules it will enforce and only rules it will enforce. That hasn’t been the case. If it is now, this will be a success.