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Latest On Seattle’s Quest For An NBA Franchise

September 9th, 2017 at 8:35pm CST by Austin Kent

For much of the past half decade, a group of investors led by Chris Hansen has sought ways to build an arena in Seattle that could house an NBA team and possibly an NHL club as well. The group, however, has faced resistance, most recently from a city council that refused to grant it access to a city street necessary for construction in the Sodo District.

On Thursday, an Associated Press report broke news that Hansen’s group would also be willing to help rebuild and modernize KeyArena as a venue for concerts, after the construction on the new Sodo facility had been completed, that is.

From 1967 until 2008, KeyArena was home to the NBA’s SuperSonics and the building currently remains on a 74-acre plot in downtown as a multipurpose facility and the home of Seattle’s WNBA club.

Despite the fact that Hansen’s group is aggressively pursuing a franchise – they’ve already pivoted from seeking to use public money to privately financing the project – their plans of building a facility near those of the Seahawks’ and Mariners’ facilities would require the purchase of a portion of Occidental Avenue South.

As recently as May of 2016, however, Seattle city council voted against such an acquisition 5-4, some councilmembers steadfast against the idea of vacating a prominent, industrial city street in the name of supposed “gentrification.”

If the proposal to rebuild KeyArena was intended as an olive branch for city officials, it wasn’t taken as such. Almost immediately after issuing their proposal, Seattle’s Office of Economic Development shot them down, referring to a formal request for proposals that was held earlier in 2017.

If Hansen’s group wanted to modernize KeyArena, the office suggested, they should have formally proposed their plans when the city was requesting them. As things stand, a Los Angeles-based company already has a finalized draft to renovate KeyArena for $564MM with the intention of housing NBA and NHL teams there.

What does this mean for hoops fans hoping for another basketball franchise in the Pacific Northwest? Not much, directly at least.

In April of 2016, NBA commissioner Adam Silver told Baker that a “shovel ready arena” wouldn’t hasten the league’s meticulous expansion process. More recently though, Silver told C.J. McCollum of the Players Tribune (yes, that one) in July 2017 that the league would inevitably start looking at growth of franchises.

“Seattle will no doubt be on a short list of cities we’ll look at,” Silver told him.

Whether that hypothetical franchise suits up in a renovated version of KeyArena or somewhere in the middle of an industrial district slowly enveloped by sports facilities remains to be seen.

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Southwest Notes: Rockets Sale, Grizzlies, Smith Jr.

September 9th, 2017 at 6:57pm CST by Austin Kent

The sale of the Rockets to a Texas billionaire will impact the entire NBA landscape, Kevin Pelton of ESPN (Insider) writes. The $2.2B price point, $550MM more than Forbes’ 2017 projection, may encourage other team owners to start exploring the idea of cashing out.

Until outgoing Rockets owner Les Alexander announced he’d be selling, team owners had, for the most part, been standing pat on their investments, letting their franchises slowly appreciate over time. When the Clippers sold under duress for a record-breaking $2B, the public got its first glimpse of just how valuable the teams have begun.

As Pelton writes, the fact that the Rockets, a team projected to be the eighth most valuable in the league, sold for over $2B could mean that the average price of an NBA franchise is now close to $1.5B.

There’s more from the Southwest Division:

  • Ownership of the Rockets will be transferred to Tilman Fertitta but what does that entail? Jonathan Feigen of the Houston Chronicle broke down the next steps in the process, including the $1MM application fee Fertitta will have to pay to cover all the administrative costs associated with the sale of an NBA franchise.
  • The Grizzlies will be a team in transition, Shaun Powell of NBA.com writes. With Zach Randolph and Vince Carter now members of the Kings, the Grind House era could be coming to a close. Powell wonders if Memphis would look to shop Marc Gasol at the deadline if the team gets off to a rough start.
  • Fear not, world, Tilman Fertitta has said that he’d be happy to have Beyoncé join his team in Houston, Alysha Tsuji of USA Today writes. The singer had previously been said to have had an interest in purchasing the Rockets.
  • Just how well Dennis Smith Jr., widely regarded as a darkhorse candidate to win the Rookie of the Year award, fares in his first NBA season could determine how the Mavs transition into the post- Dirk Nowtizki era, Eddie Sefko of the Dallas Morning News writes.
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Potential Ownership Change Looms For Grizzlies

September 9th, 2017 at 5:44pm CST by Austin Kent

At some point in October, there may be a transition in ownership of the Grizzlies but it’s complicated. This week, Haley O’Shaughnessy of The Ringer broke down a clause built into the original purchase agreement when majority owner Robert Pera and company took over the franchise from Michael Heisley.

In short, October 25 marks the fifth anniversary of the consortium of owners led by Pera assuming control of the team. Pera’s majority stake of the club, it’s worth noting, is a somewhat modest 25%.

Built into the terms of the agreement at the time was language that ensured that the partial owners with the second- and third-largest shares in the club could potentially buy Pera out at price of their choosing.

In response to the national article published at The Ringer, Chris Herrington of the Memphis Commercial Appeal clarified some aspects of the agreement. Per Herrington, who wrote one of the original articles that O’Shaugnessy cited, five years after the original purchase (and every three years there after), either Steve Kaplan or Daniel Straus – who each own 14.22% – will have the option to bid for Pera’s shares at a rate that they themselves choose.

At that point, the ball will fall into Pera’s court, who will then elect to either sell his stake at that price or buy the offering party’s stake at that same rate. Pera, therefore, can not trigger the event but his hands aren’t exactly tied either. The onus is on either Kaplan or Straus, if they so dare, to find a pricepoint that will dissuade Pera from simply matching and taking over their own shares.

As O’Shaungessy writes in her piece for The Ringer, the relationship between Kaplan and Pera can be described as strained and Kaplan has aggressively sought a controlling ownership of his own NBA franchise, ultimately coming up short in bids for both the Hawks and the Timberwolves over the years.

Complicating matters is the recent sale of the Rockets for $2.2B that will inevitably bump franchise values across the board up dramatically, including that of the Grizzlies’.

In 2012, the Grizzlies sold for about $350MM (per Marc Stein of ESPN). In 2014, following the sale of the Clippers for $2B, Forbes projected the value of the franchise at $750MM. That, of course, is expected to creep up ever higher in light of the Rockets deal.

There’s nothing set in stone that either Kaplan or Straus will pursue the bid for ownership, especially considering that it could backfire, but it’s something worth keeping an eye on at that fifth anniversary draws ever closer.

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Five Key Stories: 9/2/17 – 9/9/17

September 9th, 2017 at 3:50pm CST by Arthur Hill

Here are some of the most noteworthy stories from the past week at Hoops Rumors:

Houston billionaire Tilman Fertitta agreed to buy the Rockets for a record price of $2.2 billion. The NBA’s Board of Governors must approve the deal before it can be finalized. Former Rockets center Dikembe Mutombo claims his group was close to matching the sale price.

Rumors emerged that Nets owner Mikhail Prokhorov may sell the team in a two-part process. The Russian businessman will reportedly try to unload a minority stake in the franchise, then give that a buyer a chance to buy the whole thing at a later time.

The NBA is considering significant changes to the way it conducts its draft lottery. The Competition Committee has proposed giving equal odds for the top pick to the three teams with the worst records and barring teams from picking in the top three in consecutive years, among other changes. A vote could be held before the season starts.

Dwyane Wade is dropping hints that buyout talks with the Bulls could be imminent. Wade reportedly hasn’t spoken to anyone in Chicago’s front office since deciding to opt in for next season and feels misled by the team’s trade of Jimmy Butler.

Cavaliers GM Koby Altman admits no timetable has been set for Isaiah Thomas to return from a hip injury. Altman says there is a “non-surgical” plan in place for the newly acquired point guard and the team expects him to return “at some point.” Thomas is in the process of changing agents to prepare for free agency next summer.

Ten more stories:

  • The Nets‘ unprotected first-rounder may have been the most valuable piece the Cavaliers landed in the Kyrie Irving deal, but they could use it as a trade chip rather than keeping it until June.
  • Spurs point guard Tony Parker is ahead of schedule in his recovery from a quadriceps injury and could return sooner than expected. Parker suffered the injury in the second round of the playoffs and has been projected to start playing again in January.
  • Former Pacers guard Rodney Stuckey has lined up visits with several teams in hopes of getting an invitation to training camp.
  • Former All-Star Amar’e Stoudemire announced his retirement from basketball after playing one season in Israel. Stoudemire will continue as a shareholder for his Hapoel Jerusalem team.
  • Pacers owner Herb Simon issued a statement indicating he is satisfied with the results of the league’s investigation into tampering involving the Lakers and Paul George. There had been rumors that Simon was considering legal action against the league and the Lakers.
  • Lakers president Magic Johnson offered to pay the $500K fine from the tampering case from his own salary, saying he didn’t want owner Jeanie Buss to have to come up with the money.
  • Anthony Morrow and Trey Burke were among a group of free agents who worked out for the Timberwolves. Minnesota has just 11 players with guaranteed contracts and is looking to add a backup point guard and veteran wings.
  • Tyler Zeller, who was waived by the Celtics in July, had a workout for the Nets. Brooklyn is seeking frontcourt depth after a flurry of offseason moves.
  • Two teams already have health concerns at point guard. The Bulls announced Cameron Payne will miss three to four months after foot surgery, and the Hornets‘ Michael-Carter-Williams may not be ready for opening night after a procedure on his knee in August.
  • The Grizzlies have no plans to trade Marc Gasol or Mike Conley.
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Atlantic Notes: Anthony, Crowder, Griffin, Raptors

September 9th, 2017 at 2:13pm CST by Arthur Hill

Is Carmelo Anthony resigned to the prospect of heading to training camp with the Knicks? David Pick tweets that he has begun interacting with some of his teammates on social media. Anthony has been sending encouraging texts to Kristaps Porzingis, Mindaugas Kuzminskas and Willy Hernangomez and following their progress in the EuroBasket competition.

Anthony and his representatives have made it clear throughout the summer that his first choice is a trade to the Rockets, where he could join forces with James Harden and Chris Paul on one of the best teams in the Western Conference. Knicks management has expressed a willingness to move Anthony, but won’t take on the three years and $61MM remaining on Ryan Anderson‘s contract. Houston hasn’t found another team to help facilitate the deal, and with camp just 17 days away, Anthony appears to be preparing to remain in New York for a while.

There’s more from the Eastern Conference:

  • The Celtics‘ offseason moves gave Jae Crowder reason to think he wouldn’t be in Boston much longer, writes A. Sherrod Brown of CSNNE. Crowder, part of the package sent to Cleveland in the Kyrie Irving deal, was the Celtics’ starting small forward in all 72 games he played last season. However, he watched the team draft Jayson Tatum in June and sign free agent Gordon Hayward a few days later. “There was some concern because you have a lot of wing players stacked up,” Crowder said. “And I made it clear to the organization that I was concerned about it and wanted some direction. They showed me what they wanted to do and I respected it.”
  • Former Cavaliers GM David Griffin thinks the Celtics are facing an adjustment period and might not see the benefits right away from their offseason maneuvering, relays Kevin Spain of USA Today. Although Boston picked up two All-Stars in Irving and Hayward, Griffin believes the loss of Crowder and Isaiah Thomas will be difficult to overcome, along with Avery Bradley, who was traded to the Pistons to free up cap room to sign Hayward. “Losing Bradley, Crowder and Isaiah is losing a lot of grit and overachievers that identified that team,” Griffin stated. “So they’ve had so much change. I think they’re going to be better in the long term, but I think in the short term you can make the argument that they’re going to be worse.”
  • Former Sports Illustrated writer Luke Winn will join the Raptors as director of prospect strategy, the team tweeted.
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Hoops Rumors Originals: 9/2/17 – 9/9/17

September 9th, 2017 at 12:35pm CST by Arthur Hill

Every week, the Hoops Rumors writing team compiles original content to complement our news feed. Enjoy our favorite segments and features from the past seven days:

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Pacific Notes: LeBron, Warriors, Pachulia, Kerr

September 9th, 2017 at 10:54am CST by marksuleymanov

Numerous reports have suggested that LeBron James – who is set to hit free agency next season — is the Lakers‘ top target. While acquiring James alone would be great, pairing him with another elite talent is the goal and Eric Pincus of Bleacher Report examines who that ideal player could be.

Russell Westbrook and Paul George are the obvious two names. The California natives could both hit free agency; George is nearly certain to test the market after one season with the Thunder whereas his new teammate Westbrook has a maximum deal on the table. Whether Westbrook eventually decides to accept that deal will significantly impact the market.

Pincus also looks at bigger players, like DeMarcus Cousins, who could be paired with James in Los Angeles. However, the goal, for now, is to clear as much cap space possible; and Luol Deng‘s albatross of a deal is the biggest priority.

Check out other news around the Pacific Division:

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Central Notes: Thomas, Lue, Walters, Pacers

September 9th, 2017 at 8:41am CST by marksuleymanov

There is still little to no definitive answer on Isaiah Thomas‘ ailing hip and the new Cavaliers point guard could be dealing with more than just a hip ailment, Jason Lloyd of The Athletic writes. Lloyd referenced general manager Kolby Altman‘s reluctance to address Thomas’ injury and the cloudy aura surrounding his recovery.

Thomas has previously given optimistic comments about his future, stating that he will be the same dynamic scorer he was in Boston upon returning. However, it has not been over four months since Thomas went down with the hip injury and there is no solid update on his future. One person Lloyd spoke to suggested that Thomas is dealing with more than just a torn labrum, adding that a loss of cartilage and some arthritis in the hip are complicating the healing process.

“No one has any idea how quickly this will heal or if it even will heal at all,” the source said to Lloyd about Thomas’ injury. “It’s hard to predict.”

At this point, it’s all but certain that Thomas will not be ready for opening night; one report mentioned the All-Star break in February as a possible timetable.

Read more news around the Central Division:

  • Cavaliers head coach Tyronn Lue likes the moves his team made this offseason and is entering the 2017/18 season with an optimistic mindset, Joe Vardon of Cleveland.com writes.
  • Former NBA player and G-League coach Rex Walters has joined the Pistons‘ coaching staff. As NBA.com’s Keith Langlois writes, head coach Stan Van Gundy is excited with Walters’ reputation to help players develop their skills after he was frustrated
  • Shaun Powell of NBA.com previews the Pacers‘ first season in the post-Paul George era.
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Hawks Notes: Cook, New Hires, Front Office Moves

September 8th, 2017 at 9:40pm CST by ChrisCrouse

The Hawks will look much different this season than they have in past, after losing four All-Stars via trade and free agency over the last two years. Atlanta’s new look team will allow its youth an opportunity to shine and Quinn Cook, who the team officially signed earlier this week, looks forward to suiting up for the club, as KL Chouinard of NBA.com relays.

“It’s a great opportunity for all of us,” Cook said. “We have a younger team.”

Cook played collegiate ball at Duke University under coach Mike Krzyzewski and he believes his time in the program will help him thrive in coach Mike Budenholzer’s offense.

“We did a lot of [the same things] at Duke,” Cook said. “I know Coach Bud and Coach K are really, really, really close friends so they talk a lot. That’s one thing Coach K told me: Be prepared for motion and spacing. That’s really all I’ve been working on since before I got here.”

There’s more from Atlanta, as the franchise announced several hires and promotions within the front office (via NBA.com). Here’s a rundown of the moves:

  • Rod Higgins, who played 13 seasons in the NBA, has been hired as a College Scout.
  • Brady Howe, who previously worked for the Salt Lake City Stars, has been hired as an Assistant Athletic Trainer.
  • Dan Martinez has been named the Senior Director of Team Operations.
  • The team added Adam Loiacono as a Performance Therapist and Derek Pierce as a Pro Player Personnel Scout.
  • Daniel Bove has been promoted to Sports Scientist/Assistant Strength & Conditioning Coach.
  • The team promoted Scottie Parker to Head Athletic Trainer, Zach Peterson to Video Coordinator and Patrick St. Andrews to Assistant Coach.
  • Daniel Starkman has been named Manager of Basketball Information and Scouting Coordinator.
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Heat Notes: Wade, Hammons, Mickey

September 8th, 2017 at 8:07pm CST by ChrisCrouse

Dwyane Wade may soon find himself on the free agent market if he and the Bulls can agree to a buyout. It was recently reported that a reunion with the Heat remains a realistic option, as the 35-year-old recently moved his children back to the Miami area.

The Heat appear to already have a starting shooting guard in place after inking Dion Waiters to a four-year, $52MM deal this summer, though the former No. 4 overall pick is open to playing alongside the future Hall of Famer. Waiter previously told Barry Jackson of the Miami Herald that he admires Wade and would like to learn from the experienced veteran.

Miami brought back Waiters along with other pieces from its 2016/17 lottery campaign after failing to land a star in free agency yet again. While Wade can no longer be categorized as a star, adding him to the unit should only help the team to climb higher in the standings. Regardless of whether or not the franchise adds Wade, it has a decent chance of avoiding the lottery this season, as ESPN statistician Kevin Pelton projects Miami to end up with the No. 7 seed in the conference.

As we wait to see where Wade ends up playing, check out some notes from Miami:

  • Assuming the Heat don’t land Wade, A.J. Hammons and Jordan Mickey are the front-runners for the team’s final two roster spots, Jackson writes in a full-length piece. The scribe adds that Matt Williams is a legitimate candidate for one of the spots should the team decide to waive one of its big men.
  • Jackson hears (same piece) that two separate scouts have concerns about Hammons’ maturity level and he identifies one of the scouts as a member of the Mavericks’ staff. Hammons was selected by Dallas in the 2016 draft, though he was traded to the Heat this summer.
  • Larry Drew II, who will go to training camp with the Heat, doesn’t appear to have a realistic chance at making the team, Ira Winderman on the Sun-Sentinel contends. The team currently has 18 invites for camp and with only 15 roster spots and a pair of two-way contracts, the point guard could be the odd man out.
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