Like most businesses across the nation, NBA teams have been hit hard by the coronavirus pandemic.
Unlike most businesses — particularly small ones — the NBA has access to capital to help get through this.
The NBA is giving each team $30 million to help with finances for this season, a story broken by John Lombardo of the Sports Business Journal.
The $900 million to be given to teams comes from notes issued by the league in the private placement market that typically includes large insurance companies and other institutional investors.
According to multiple sources, each team is expected to receive the $30 million this month as the NBA heads toward its Dec. 22 tipoff of the 2020-21 season. Teams can spend the money for any need within their organization, with the league paying back the notes from “general collective league sources,” according to one source with knowledge of the structure.
That the NBA was able to secure $900 million shows the financial strength of the league — the private placement market isn’t giving the NBA this money out of the generosity of its heart. Those businesses expect to get paid back, with interest.
It’s also a good way to help teams through a tough time when revenues are down. The league tips-off on Dec. 22 in a season with a short turnaround — and games on Christmas Day — because it is what the national television partners wanted. There will be few to no fans in NBA arenas to start the season, and NBA Commissioner Adam Silver said that accounts for 40% of league revenue. The NBA missed its revenue projections by $1.5 billion last season, and that number is likely higher this season.
Owners knew they were going to take a financial hit this season, the hope is to get through it and get back on the league’s traditional schedule — hopefully with arenas full of fans — next October.
Until then, the league got a little float of cash to help get through the tough times.
The NBA went to Japan to promote the brand, play a few games in a huge market — Japan specifically but Asia as a whole — and put on a show.
Is there a better show than Stephen Curry and Klay Thompson draining 3s? Here they are in a 3-point contest during a basketball exhibition (there were some pro dunkers) in Tokyo on Saturday.
Stephen Curry, was there any other possible outcome?
It’s preseason and they are the defending champs — they should be having fun, playing with some joy.
Thompson took part in the shooting contest but is not playing in either of the exhibition games in Japan as the Warriors ease him back into play this season. It’s a marathon of a season and the Warriors need the best version of Klay starting in April, not October.
Larry Nance has been a stabilizing influence in New Orleans since coming over mid-season as part of the trade for CJ McCollum. Nance is a versatile player who can play the four or the five, knocks down his threes, is very strong on the glass, can be a disruptive defender in passing lanes, and fits in — and he has the veteran attitude of work this team needs.
So the Pelicans have reached an extension to keep the 29-year-old around for two years past this coming season, reports Adrian Wojnarowski of ESPN.
This is a signing that should make Pelicans fans happy. Importantly, it makes CJ McCollum happy — they are tight and this is something McCollum wanted to see. The money on this deal seems fair, about the league average for a solid rotation player.
Nance is the kind of veteran this team needs considering its young core of Zion Williamson, Brandon Ingram (just turned 25), Herb Jones, and guys like Trey Murphy III, Jose Alvarado, and others. Nance compared it to the young Lakers teams he was on, but noted that team lacked the same level of veteran leadership this Pelicans team has.
We may see more Nance at the five lineups — small ball with Zion at the four — to close games this season in New Orleans, that could be their best lineup because Nance can defend but also spaces the floor for Zion on offense. Coach Willie Green has a lot of different players and matchups to experiment with.
And now he has the stability of Nance for a few more years.
No team had an offseason quite like the Brooklyn Nets. First, they would not give a long-term extension to Kyrie Irving, which sent the star guard looking for a new team (but there were no offers that worked for everyone, so he opted in with Brooklyn). Then Kevin Durant asked for a trade, and to gain a little leverage reportedly threw down an ultimatum of him or the coach and GM. No trade could be found — how much the Nets wanted one is up for debate — so he is back in Brooklyn. And all that is not even getting into the return of Ben Simmons, a trade for Royce O’Neal, or anything else.
The Nets drama and how they move past it has been the talk of training camp. The only talk at training camp, it feels like.
When asked Friday if there were any inaccuracies in the reporting of the Nets summer he would like to clear up, Durant sounded weary of rehashing the summer.
The only thing that will start to move the conversation in a new direction is the Nets playing and winning games (they open the preseason Monday against the 76ers). And even those wins will have the shadow of the offseason cast over them. Durant and Irving made this bed.
Part of the fascination is the Nets remain the team hardest to predict in the league. They arguably have the most talented roster in the league and, if everything comes together just right, they can contend for a title. It’s also possible the wheels fall off early and by Christmas the Nets are looking to trade Durant again. Both things feel possible (even if reality most likely lands somewhere in the middle).
That uncertainty about the Nets’ future is the drama that will keep eyeballs on them — which also means more questions about this past offseason. Durant can choose not to answer them, but the questions aren’t going away.
No Kawhi Leonard. Or Paul George. Or John Wall, Norman Powell, Reggie Jackson and Nic Batum. The Clippers decided to rest six key rotation players in their preseason opener in Seattle against Maccabi Ra’anana, a game played in Seattle.
All those guys are expected to suit up Monday when the Clippers play the Portland Trail Blazers in a preseason game also in Seattle, the first NBA exhibition game played in the city since 2018.
Against Maccabi, it was the Luke Kennard show as he had 16 points.
The Clippers also got 14 points and 13 boards from Moses Brown. As a team, the Clippers cruised and put up a few highlights.
The Clippers have great depth, which should allow them to survive a season where both Leonard and George are expected to get their share of load management nights off. Leonard missed all of last season coming off a torn ACL, and George played in just 31 games due to a few injuries, including a shoulder issue. Still, the Clippers finished eighth in the West with a 42-40 record and had a top 10 defense in the league.
Adding Leonard and George to that mix is why the Clippers are considered title contenders out West. Monday night against the Blazers we should get our first look at the real Clippers team for this season. But Los Angeles is 1-0 this preseason.