Jul 30, 2014 10:15 AM EDT
The Philadelphia 76ers will fight changes to the draft lottery system that the NBA is pushing to implement in time for next season.
Though there are several facets and the proposals haven't been finalized, essentially the goal of commissioner Adam Silver is to balance out the lottery odds so the worst team or teams wouldn't have the highest chances of landing the top pick, sources said.
The 76ers are in a multiseason rebuilding project that is depending on a high pick next season.
The 76ers, however, may have a struggle to gain support from Silver or fellow teams on holding off the changes.
Jul 29, 2014 11:17 AM EDT
Kyrie Irving will receive just 27.5 percent of an adjusted NBA salary cap if he triggers the Derrick Rose rule by winning MVP or getting voted an All-Star starter next season, according to Mark Deeks.
Irving presumably received a player option on his contract in exchange for not getting the full 30 percent possible.
Paul George set the market by taking just 27 percent in order to get that fifth-year player option last offseason.
If Irving neither wins MVP or gets voted an All-Starter, his contract extension will be worth the max possible amount (about $89 million). If he achieves either of those honors, he’d gain about $9 million. However, he could have gained more than $16 million.
By leaving that potential $7 million on the table, Irving set himself up to become a free agent sooner.
Jul 28, 2014 8:23 PM EDT
Several top agents are unhappy with the finalists for the National Basketball Players Association executive director position and are urging their clients not to vote.
The agents want additional candidates to be considered for the position to replace Billy Hunter.
Washington attorneys Michele Roberts and Dean Garfield, and Dallas Mavericks executive Terdema Ussery are being considered.
One agent told ESPN.com that the situation is "a joke." Another said "none of these candidates are the right candidate."
Roberts, Garfield and Ussery each will have a 45-minute session with players before a vote is taken.
Jul 28, 2014 6:39 PM EDT
A judge ruled in favor of Shelly Sterling on all three counts, rejecting virtually all of Donald Sterling's arguments in the probate trial in Los Angeles Superior Court.
The ruling included the extraordinary step of granting Shelly Sterling’s request for an order that allows the sale to be completed regardless of an appellate court’s intervention.
Judge Michael Levanas also ruled that Shelly Sterling acted properly when two doctors declared her husband mentally incapacitated in May under terms of the Sterling Family Trust before she proceeded to agree to sell the Clippers to Steve Ballmer.
The sale of the Clippers to Ballmer will proceed.
Jul 26, 2014 5:05 PM EDT
Kevin Johnson has exited the NBPA search committee for finding a new executive director.
Johnson wanted to play a larger role in controlling the meeting on Monday to present three finalists for the job.
The three candidates are Dallas Mavericks CEO Terdema Ussery, Washington D.C. attorney Michele Johnson and Dean Garfield, president and CEO of the Information Technology Industry Council, sources told Yahoo Sports.
Johnson sent an abrupt email to player agents on Friday evening, telling them his committee was "no longer involved in the search process," and "while we'd hoped to help bring this to completion, it's clear that won't be possible."
Johnson had an invitation to join the election proceedings on Monday in Las Vegas, but as one source said, "wanted no part out of it, he bailed."
Jul 24, 2014 10:37 AM EDT
Steve Ballmer severely overbid for the Los Angeles Clippers based on the expected 2014 revenues of the franchise.
Ballmer's $2 billion bid is 12.1 times the expected 2014 revenues.
The book, called "Project Claret" so as not to give away on the cover sheet that these numbers are indeed the financials of the Clippers, reveals that the team is projected to finish the year with $62.3 million in revenues from ticket sales, $25.8 million from its local cable contract and $24.1 million in additional team revenue. The Clippers are also projected to receive $52.7 million on the season in shared national league revenue, according to the document. After taking away player payroll costs, total operating revenue for the 2013-14 season is projected to be $100 million.
Valuation multiples are usually based on total revenues, so the $164.9 million before player costs are extracted equals more than 12 times less than the $2 billion sale price.
"No team in the history of sports has sold for six times total revenues, so that should give you an idea of how crazy this purchase price is," said a sports banker who was not involved in the transaction.
The document cites a five-year mean of teams that have been purchased during that time at a sales price of 3.4 times total revenue.
Donald Sterling testified earlier this month that he could have gotten at least $2.5 billion for the team.
Jul 23, 2014 10:40 AM EDT
Donald Sterling filed a suit in Superior Court on Tuesday afternoon seeking damages from the NBA, Adam Silver and Shelly Sterling, alleging they defrauded him and violated corporate law in attempting to sell the franchise to Steve Ballmer.
Sterling asked for an injunction to freeze the $2 billion sale, arguing that his wife had no authority to sell the franchise because he is the sole owner and shareholder of the corporation which owns the Clippers, after he revoked the Sterling Family Trust on June 9.
"The new lawsuit states the seller of the team is not Donald, and it's not Shelly -- the seller of the team is the corporation that owns the team, and that's LAC Basketball Club Inc.," Donald Sterling's attorney, Bobby Samini, said Tuesday. "When Donald bought the team, the shares of the corporation are only in Donald's name. They were only issued to Donald, so Donald owns the shares of the corporation. He's the sole shareholder. He put the shares up into the trust in 1989, and when we revoked the trust, the shares go back down to him."
Sterling is attempting to undo the sale in order to fight the NBA in court.
Jul 16, 2014 3:40 PM EDT
The NBA submitted an official proposal to reform the lottery system, dismissing the Wheel idea in favor a revised weighting system that shifts each team's odds of getting the top pick.
The proposal is essentially an attempt to squeeze the lottery odds at either extreme toward a more balanced system in which all 14 teams have a relatively similar chance at the no. 1 pick, per sources familiar with the proposal.
The new proposal will give at least the four worst teams the same odds of winning the no. 1 pick, approximately 11 percent for each club. The odds decline slowly from there.
The proposal also calls for the drawing of the first six picks via the Ping-Pong ball lottery, sources say.
Jul 15, 2014 11:51 AM EDT
LeBron James signed a two-year, $42 million deal with the Cleveland Cavaliers with the second season being a player option.
It took several seasons for James to express it, but the way the collective bargaining agreement puts a cap on his earning potential on the floor bothers him.
"At the end of the day, I don't think my value of what I do on the floor can be compensated anyway because of the CBA if you want this truth. If this was baseball, I'd be up there," said last season.
Last season was the first time James' salary was even in the top-10 in the NBA.
James is hitting the $20 million-plus mark in his 12th NBA season, whereas Kevin Garnett hit $20 million by his seventh season in a deal that was agreed upon two CBAs ago. Shaquille O'Neal earned $20 million in salary in nine straight seasons, while Kobe Bryant's two remaining seasons on his current deal will be his seventh and eighth making more than $20 million.
When James met with agent Rich Paul and his lead attorney Mark Termini before free agency began, they discussed the maximum salary issue. The plan was to demand both a max contract and to sign short-term deals for the foreseeable future.
If James had re-signed with the Miami Heat or chosen the Los Angeles Lakers, he also would have taken a one-year deal with the player option, sources said.
James is protected from missing out on being able to cash in if and when the salary cap increases, plus it opens up the possibility of him cashing in if the maximum salary is abolished or vastly raied in 2017 under a new CBA. James envisions getting a balloon payment toward the end of his career similar to what Michael Jordan made in the final two seasons of his contract with the Chicago Bulls.
It also gives James leverage to keep his team under pressure to continue spending on talent around him.
James has long believed in the phrase "no new friends" when it comes to those in his inner circle and now it is also "no long-term contracts."
Jul 09, 2014 5:06 PM EDT
The NBA has announced that the salary cap for the 14-15 season has jumped to $63.065 million, which is approximately $135,000 less than expected.
The tax level will be at $76.829 million and the minimum team salary is $56.759 million.
The non-taxpayer mid-level is $5.305 million and the taxpayer mid-level is $3.278 million.
The Lakers earned $122 million in local TV money, while the Rockets earned $45 million.
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