April 2014 Basketball Wiretap

Lakers, Bulls, Rockets, Celtics, Thunder Lead NBA In 14-15 Profits

Jun 30, 2014 12:47 PM

The Los Angeles Lakers are projected to make $100.1 million in profit for the 13-14 NBA season, comfortably the best in the NBA.

The Chicago Bulls are second at $61 million, followed by the Houston Rockets ($40.7 million), Boston Celtics ($33.1 million) and Oklahoma City Thunder ($29 million).

The Lakers have a huge profit despite contributing a league-high $49 million to revenue-sharing.

The New York Knicks are expected to take a net loss of $3.5 million due to $27 million in revenue-sharing contribution and paying a large luxury tax bill.

The San Antonio Spurs, Utah Jazz and Denver Nuggets finished sixth, seventh and eighth, respectively, in net profits.

The Brooklyn Nets will post a loss of $144 million for the season.

Zach Lowe/Grantland

Tags: Boston Celtics, Chicago Bulls, Los Angeles Lakers, New York Knicks, Oklahoma City Thunder, Brooklyn Nets, NBA, NBA CBA

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Report: Nets Projected To Take $144M Loss In 13-14

Jun 30, 2014 12:40 PM

The Brooklyn Nets are projected to have a loss of $144 million for the 13-14 season, according to a confidential memo the NBA sent to all 30 teams in early June.

The NBA expects nine teams will end up having lost money once luxury-tax distribution and revenue-sharing payments are finalized.

The Washington Wizards are second in projected loss of about $13 million.

The Nets' loss is only from basketball activities and does not include benefits from their ownership stake in Barclays Center.

Bruce Ratner is open to selling his minority stake in the team and Mikhail Prokhorov would like to scale back spending to make that minority stake more appealing.

Zach Lowe/Grantland

Tags: Brooklyn Nets, NBA, NBA CBA

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NBA Considering Moving Back Draft, Adding Awards Show

Jun 27, 2014 9:01 PM

The NBA is "very interested" in moving the draft after July 1 and packaging it with a season-ending awards show, possibly on consecutive nights.

The league would like to create more space between the end of the Finals and the draft in order to better promote the draft.

Moving the draft back will be difficult because it impacts free agency and the collective bargaining agreement. Also, the league needs to negotiate a change in the draft date with its TV partners.

The NBA season is already turning into a long year with the draft, free agency and summer league taking place shortly after the Finals.

The NHL has a season-ending awards show before its draft.

Jeff Zillgitt/USA Today

Tags: NBA, NBA NBA Draft, NBA Draft General, NBA CBA

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Carmelo Could Take 7.5 Percent Pay Decrease In Year 2 To Create More Cap Space

Jun 27, 2014 12:41 PM

Phil Jackson and the New York Knicks are not demanding Carmelo Anthony take less money to re-sign, but they are challenging him to do so.

“He’s the one that opened that up that it wasn’t about the money. So I challenged him on that because I want our fans to see he’s a team player, that he’s going to do what was best for this team to get ahead farther and faster. It’s not going to be an issue,” Jackson said. 

Anthony can make a maximum of $22.54 million in his first season. A max contract with the Knicks would give him raises of 7.5 percent on that number in each successive season. So if he wanted to take a pay cut, Anthony could accept less money in the first year of his contract and then take maximum raises in each successive season. 

Under the rules of the CBA, his salary can fluctuate by a wide range from year to year. If Anthony were to re-sign with the Knicks, his salary could increase or decrease by 7.5 percent from year to year. 

So Anthony, in theory, could agree to the maximum amount in Year 1 of his contract and then accept a pay cut of 7.5 percent in Year 2. 

That would leave his salary for Year 2 at 20.85 million. That’s a savings of $3.4 million compared to what Anthony would get in the second year of a max contract with maximum raises. 

Ian Begley/ESPN

Tags: Carmelo Anthony, New York Knicks, NBA, NBA Signing Rumor, NBA Misc Rumor, NBA CBA

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Mikhail Prokhorov Listening To Offers For Nets

Jun 14, 2014 5:43 PM

Mikhail Prokhorov has been listening to offers for the Brooklyn Nets following the sale of the Los Angeles Clippers for $2 billion.

"Just listening so far," a league official with direct knowledge told Yahoo Sports. "They haven't indicated a desire or willingness to sell. …Nothing was initiated by [Prokhorov]."

Prokhorov has been curious how much his stake in the Nets and Barclays Center might be worth.

Prokhorov owns 80 percent of the Nets and 45 percent of the Barclays.

Adrian Wojnarowski/Yahoo! Sports

Tags: Brooklyn Nets, NBA, NBA CBA

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Donald Sterling Changes Mind, Decides To Sue NBA

Jun 9, 2014 10:34 PM

Donald Sterling has instructed his attorney to pursue a $1 billion lawsuit against the NBA and Adam Silver while withdrawing his support for the sale of the Los Angeles Clippers negotiated by his wife.

Last week, both Sterling and Blecher indicated publicly that they would accept the record $2 billion sale to former Microsoft CEO Steve Ballmer.

"The deal is off," Max Blecher wrote in an email.

Blecher declined Monday to comment on whether the NBA's refusal to drop Sterling's lifetime ban and $2.5 million fine is the impetus for his change of heart.

"There is absolutely no possibility that the lifetime ban will be rescinded or that the fine will be changed in any way," Silver told reporters Saturday in an address at the NBA Finals.

The NBA remains confident that the sale will move forward eventually.

"Nobody doubts this thing will go through in the end. I guess it's just a matter of what mood Donald wakes up in tomorrow," one source close to the situation said.

Shelly Sterling indemnified the NBA from damages in future lawsuits from her estranged husband as part of the sale agreement with the NBA. She negotiated the sale as the sole trustee of the Sterling family trust, which owns LA Clippers LLC, after two neurologists had declared Donald Sterling unable to conduct his own business and legal affairs.

Ramona Shelburne/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Geffen's Group Bid $1.6B On Clippers

Jun 9, 2014 2:15 PM

David Geffen's group of owners offered $1.6 billion for the Los Angeles Clippers.

Geffen saw Guggenheim Partners as his biggest threat and sought a partnership instead of bidding against them.

Guggenheim Partners wasn't committed to the process, but co-founder Mark Walter and President Todd Boehly entered a partnership with Geffen independently.

Those three men were joined by Laurence Jobs, widow of Steve Jobs, as equal partners.

A sizable but lesser stake would go to Nancy Walton Laurie, an heir to the Walmart fortune. Four others — Winfrey, Hard Rock Cafe co-founder Peter Morton, music impresario Jimmy Iovine and Elaine Wynn, ex-wife of casino czar Steve Wynn — agreed to buy in for $50 million apiece.

James Rainey/Los Angeles Times

Tags: Los Angeles Clippers, NBA, NBA CBA

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Soon-Shiong Didn't Bid On Clippers, Wanted To Remain 'Committed' To Lakers

Jun 9, 2014 2:09 PM

Patrick Soon-Shiong visited Shelly Sterling at her home in regards to potentially buying the Los Angeles Clippers during the sale process.

But Soon-Shiong ultimately did not submit a bid.

The medical entrepreneur already held a minority stake in the Los Angeles Lakers and wanted to remain "100% committed" to the team, a spokesman said. 

Soon-Shiong is considered the wealthiest person in Los Angeles.

James Rainey/Los Angeles Times

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

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NBA To Pick Up TV Rights Talks This Week

Jun 9, 2014 10:32 AM

Adam Silver discussed the league's upcoming television rights negotiations in his Sunday press conference, saying talks are in place for next week when the Finals transition to Miami.

The current deals with ESPN and TNT run through the 2015-16 season. There have been reports about the NBA adding a nationally televised game on Saturdays.

"We're pleased with our current partners in the Disney Company and Time Warner Turner," Silver said. "We have discussions set for next week in Miami and those discussions are ongoing. It's still my hope that we extend early before we get to the market, but we'll see. We'll see how those discussions go."

Royce Young/ESPN

Tags: NBA, NBA CBA

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NBA Will Never Consider Rescinding Sterling's Lifetime Ban

Jun 9, 2014 10:20 AM

Adam Silver was asked about any possibility of a reconsideration of Donald Sterling's lifetime ban or fine.

"There is absolutely no possibility that the lifetime ban will be rescinded or that the fine will be changed in any way," he said.

Silver said he has spoken to Sterling once, by telephone, following the ban.

"I would only say that I certainly learned nothing new from that conversation with him," Silver said. "He was distraught; it was shortly after that Tuesday press conference that I had held, but he was not remorseful at that time."

Royce Young/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Sterling Has Yet To Sign Off On Sale In Hopes Of NBA Rescinding Fine, Ban

James Rainey, Mike Bresnahan/Los Angeles Times

Analyst: Knicks Could Be Worth As Much As $3 Billion

Darren Rovell/ESPN

Bulls Narrowly Avoid Luxury Tax

K.C. Johnson/Chicago Tribune

Paul George Receives $7M Roster Bonus For Making All-NBA 3rd Team

Brian Windhorst/ESPN

Hansen Remains Committed To Bringing NBA Back To Seattle

AP