Basketball Wiretap

Prokhorov Nearing Deal To Become Sole Owner Of Nets, Barclays Center

Sep 3, 2015 12:44 PM

Mikhail Prokhorov is nearing a deal to buy Brett Ratner's share of the Brooklyn Nets and Barclays Center.

Prokhorov has been in talks to buy the 55 percent of the arena and 20 percent of the NBA team he does not already own. 

 

Selling the sports interests would make it easier for Ratner's Forest City to pull off a complicated conversion to a tax-advantaged real estate investment trust, which would help boost its share price.

“People can’t wait for them to sell these assets so they can focus on real estate development,” said one analyst who follows the company.

The team is valued at an estimated $700 million, according to the analyst who follows Forest City. After subtracting $210 million of debt, the franchise has an equity value of $490 million.

Josh Kosman, Tim Bontemps/New York Post

Tags: Brooklyn Nets, NBA, NBA CBA

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Michele Roberts Hopeful Of New CBA Deal By End Of Season

Sep 3, 2015 12:17 PM

Michele Roberts is optimistic the NBA and its players can avoid a work stoppage.

"Sitting down at a table already now with the NBA to understand what worries the owners and what worries the players," said Roberts. "In the past very few attempts to speak in advance of the problems that led to the lockouts have been made. Whether both commissioner (Adam) Silver and myself want to do everything possible to prevent the NBA to stop: the only way is to negotiate. We have already started, we will meet again in early September with the hope to announce within the end of the season that the union and the league have solved their problems."

The NBA had a lockout in 2011 that lasted from July until December.

Davide Chinellato/La Gazzetta dello Sport

Tags: NBA, NBA CBA

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NBA Fines Clippers $250,000 For Probited Endorsement Offer To DeAndre Jordan

Aug 25, 2015 2:49 PM

The NBA has fined the Los Angeles Clippers $250,000 for violating NBA rules prohibiting teams from offering players unauthorized business or investment opportunities.

The violation involved a presentation made by the Clippers to DeAndre Jordan on July 2 that improperly included a potential third-party endorsement opportunity for the player. While the NBA’s investigation ultimately concluded that the presentation of this opportunity had no impact on Jordan’s decision to re-sign with the Clippers, the team’s conduct nevertheless violated the league’s anti-circumvention rules.

The NBA’s anti-circumvention rules prohibit teams from, among other things, providing or arranging for others to provide any form of compensation to a player unless such compensation is included in a player contract or otherwise expressly permitted under the CBA.

RealGM STaff Report

Tags: Los Angeles Clippers, NBA, NBA CBA, NBA Fines

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Chris Paul: It Would Be Tough To Shorten Length Of Season Financially

Aug 20, 2015 7:57 PM

Chris Paul is not in favor of shortening the length of the NBA regular season.

Paul, who is president of the players' union, was asked what would be the ideal length of the season if money were no object.

"Money is an object, though," said Paul. When we were kids playing AAU, we'd play five games in a day and wouldn't think twice about it. I don't know what the right number is. We've been playing 82 for a while though, huh? As far as I can remember. That'd be tough [to change].

Ken Berger/CBS Sports

Tags: NBA, NBA CBA

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