Kings Sale To Sacramento Group Not Yet Finalized
TUESDAY, 2:12pm: Dale Kasler of the Sacramento Bee (Twitter link) hears that the finance committee will vote on the sale of the Kings early this week, with an official vote by the full Board of Governors coming before the end of May.
MONDAY, 1:45pm: Ranadive doesn't formally own the NBA team yet, tweets Ryan Lillis of The Sacramento Bee, pointing out that the team will move forward with the Maloofs' plan to send coach Keith Smart to the draft lottery. Windhorst has deleted his tweet from yesterday, so perhaps Johnson jumped the gun in saying that Ranadive had assumed control of the franchise. In any case, Ranadive and company remain on track to take over the Kings.
SUNDAY, 1:33pm: Sacramento mayor Kevin Johnson says NBA owners have approved the sale of the Kings to the Sacramento-based group headed by Vivek Ranadive, tweets Brian Windhorst of ESPN.com. The league had been expected to make a formal announcement of the deal between the Maloof family and Ranadive's group this week, although it was thought that escrow would not close until the end of the month. In any case, Ranadive now has control of the franchise, according to Johnson.
There's usually a much longer gap between the time an agreement on a sale is reached and the point when the purchase becomes official. Last year, Robert Pera agreed to buy the Grizzlies in June, but didn't take control of the team until October 31st. An official announcement from the league has yet to come, but it's not entirely surprising the process was expedited this time around, since the league had a chance to thoroughly vet Ranadive's bid as it sorted out whether to allow the Kings to move to Seattle.
Johnson said earlier this week that the agreement had been "signed on both ends" and that the "money has been wired," so it looked like the green light from the league was the last step in the process. Ranadive was a relative late-comer in an effort that began in earnest in January, around the time the Maloofs reached a deal to sell the team to Seattle investor Chris Hansen and his partners. Johnson spearheaded the effort to put the group together, combining $1MM commitments from 20 Sacramento-area locals with the larger financial backing of deep-pocketed "whales," including Mark Mastrov and Ron Burkle. Mastrov became the lead investor, but Burkle, an enemy of the Maloofs, proved a stumbling block, and as he faded from the picture, Ranadive took over the primary reigns of the bid.
The Sacramento group's final purchase price for the Kings is based on a full valuation of the team at $535MM, an NBA record and $10MM greater than Hansen's initial offer. The Maloofs' share is 65%, so that works out to a $347.75MM sum that's changing hands. Hansen and company upped their valuation of the club to $625MM, but ultimately lost out, spending more than $100MM on an ill-fated effort to buy the team.
Colangelo Discusses New Role With Raptors
Earlier today, the Raptors officially announced that Bryan Colangelo would transition to a new role within Maple Leafs Sports and Entertainment while the club would seek out a new hire to fill the General Manager position. In a conference call earlier today, I asked Colangelo if he was reluctant to take a new job with the Raptors that has less to do with basketball operations and more to do with the business side of things.
"Yes and no. Obviously, there’s disappointment in the process but through the discussion with Tim [Leiweke] it became clear that the role would be more than just focusing on the business and if I’m asked to help and guide [the new hire], I’ll do that. At the same time, I’m very comfortable knowing that I’ve put a lot of blood, sweat, and tears into the makeup of this team," Colangelo said. "But I’ll enjoy watching these young men develop into the NBA players that I know they’re capable of. There’s some great young pieces to be excited about and we’re moving in the right direction. I’m comfortable with the decision that’s been made, though it may have taken some time to get comfortable with."
The longtime executive shot down the notion that he might be "ticked off" by the club's management restructuring, but he was candid in saying that he was disappointed by the decision. While he won't have final say over the moves that are made, he says that he is thrilled to help put the finishing touches on a team that he believes is on its way to being competitive. During the course of the call, Colangelo also disclosed that he has an out clause that will allow him to pursue another NBA GM job if the opportunity presents itself.
Korn/Ferry International was hired by MLSE to help find the Raptors' next GM, though Leiweke told reporters earlier today that he will make the final determination. I asked Colangelo for his thoughts on the club's decision to consult with an outside party to find his successor.
"I have no problem with it…I’ll certainly be helpful in the process, in vetting some of the candidates, talking about some of the people that are involved. I went through an internal search just a few years ago when I brought Ed Stefanski in, so I have a lot of knowledge and I have a lot of background work that has been done on a lot of the potential candidates. If they need me, I’ll give my input there," said Colangelo.
His level of input in the hiring of his successor remains to be seen, as well as the level of influence he'll have once that person is in charge. Colangelo isn't sure how much pull he'll have and says that it will depend largely on who is brought aboard. That person will also have to figure out what to do with Andrea Bargnani. The big man, at times, has flashed the ability that made him the No. 1 overall pick in the 2006 Draft, but has been unable to do so consistently. Colangelo obviously wishes things worked out differently with the Italian import, but isn't sure what he would have done differently.
"I’m not sure I would [have handled it differently]. Maybe I would have traded him before he got hurt, so the trade value didn't go down or if there was an opportunity before the trade deadline. But I can’t control the injury aspect of things," said the former GM. "There’s value in Andrea and I think a change of scenery is probably best for all sides…But again, the new guy is going to have to decide how to handle that."
With years of front office experience and a clause in his contract that can spring him from Toronto, it's not clear how long Colangelo will want to remain in a supporting role with the Raptors. However, he made it known today that he will respect the parameters of his new job for as long as he has it. Or, as he put it, "If I get in the way, I'm not going to be around."
Knicks GM Talks Cap, Prigioni, Copeland, Kidd
Knicks general manager Glen Grunwald spoke to the media today, reflecting on a Knicks season that ended with a second-round loss to the Pacers and looking ahead to the team's plans for the coming summer. A number of New York reporters, including Al Iannazzone of Newsday, Ian Begley of ESPNNewYork.com, Marc Berman of the New York Post, and Adam Zagoria of SNY.tv, passed along a few of Grunwald's more notable comments, so let's round them up:
- The Knicks will focus on continuing to build and add to their core group, but won't be able to acquire anyone via sign-and-trade, says Grunwald (Twitter link). That rules out the pursuit of a top free agent like Chris Paul.
- New York will have access to the taxpayer mid-level exception rather than the full $5.15MM MLE, and Grunwald says the club may have to dip into it to match offer sheets for restricted free agents Pablo Prigioni and Chris Copeland (Twitter link).
- Despite the team's limited cap flexibility, Grunwald is confident the team can be "creative" when it comes to adding talent, noting that the Knicks "have some ideas" for what can be done (Twitter link).
- After speaking to Jason Kidd, Grunwald is confident the veteran point guard will be back next season, as opposed to retiring (Twitter link).
- Grunwald declined to comment on J.R. Smith's free agency, but added: "I don’t think you should read that one way or another" (Twitter link).
- Although Grunwald was disappointed by the way the Knicks' season ended, he stressed that he likes the team and is excited about its future (Sulia link).
Lottery Teams’ Odds To Land Top-Three Pick
The NBA's draft lottery is set to take place tonight, with the league's 14 non-playoff teams vying for a chance at the first overall pick and the opportunity to select a player from a crop of prospects that includes Nerlens Noel, Ben McLemore, and others.
The odds at landing the first overall pick are cited frequently, from the Magic's 25% all the way down to the Jazz's 0.5%. But what chance does each team have to land a top-three pick? Listed in the chart below are the odds each lottery team has at the first, second, and third overall picks, as well as each team's overall odds at landing in the top three.
Stein’s Latest: Clippers, David West, Ujiri, Nets
ESPN.com's Marc Stein passes along a few notable tidbits in his latest piece for TrueHoop, including word of a potential Clippers target, a Phil Jackson update, and some items on the coaching front. Let's dive in and check out the highlights….
- "Whispers are already swirling" that the Clippers intend to make a hard run at free-agent-to-be David West, says Stein. West and the Pacers seem to be mutually interested in a reunion, and Indiana will have the ability to offer West much more than the Clippers could, barring a sign-and-trade. But Stein points out that if West's old teammate Chris Paul re-signs in Los Angeles, the Pacers forward figures to be interested in at least listening to a Clippers pitch.
- The Nuggets remain confident that they'll be able to hang on to Masai Ujiri, despite rumblings that the Raptors may offer him an annual salary of $2MM+. Ujiri had reportedly been making about $500K with the Nuggets, according to Stein, so he appears in line for a raise no matter which team he ends up running.
- According to Stein, some league observers "remain convinced" that Phil Jackson's flirtations with various teams are designed to convinced Jim Buss to cede his organizational power with the Lakers to Jeanie Buss, which could allow Jeanie to bring Jackson aboard to run the team's basketball operations.
- Part of the reason the Nets' coaching search has been moving slowly so far is that two of the team's top potential targets remain active in the playoffs — Grizzlies head coach Lionel Hollins and Pacers assistant Brian Shaw. Stein adds that Ettore Messina, who is rumored to be a candidate for the Hawks, isn't on the Nets' list.
- While the Nets and perhaps the Clippers appear to have interest in Hollins, the Grizzlies appear determined to lock him up to a new contract once their season ends, says Stein.
Raps Retain Colangelo As President, Seeking GM
TUESDAY, 9:52am: Colangelo will remain with the Raptors as the team's president, the club announced today in a press release. Colangelo will remain somewhat involved in basketball operations and will report directly to MLSE president/CEO Tim Leiweke, but the team is seeking a general manager that will have final authority on basketball decisions. The Raptors expect to hire a new GM within the next 30 days.
"After thorough evaluation and considering all the options, we have concluded that these changes will be in the best interest of the organization," Leiweke said in the release. "By splitting the roles and having both men report directly to me, we are adding depth to the basketball operations group and giving the Toronto Raptors the best chance of competing for championships in the future. The new GM will inherit a great situation in Toronto, as all of my due diligence around the League indicates that we have a fine, young core and a few key moves will make us a playoff contender next season."
Leiweke will also officially take over as MLSE president/CEO on June 3rd, rather than July 1st, according to the release.
MONDAY, 10:45am: Raptors ownership is preparing to make a major financial offer to Ujiri, tweets Adrian Wojnarowski of Yahoo Sports.
10:04am: Bryan Colangelo will remain with the Raptors' parent organization in a "corporate" non-basketball role as the search continues for a new head of the Raptors organization, sources tell Doug Smith of the Toronto Star (via Twitter). MLSE has been negotiating with Colangelo this weekend to stay on in a signficant capacity while also talking with Nuggets GM Masai Ujiri about assuming full control of the team's basketball operations (Twitter links).
Toronto held an option on Colangelo's contract for the 2013/14 season and today was their deadline to make a determination. The decision to move Colangelo out of the President/GM role could be a sign that they are on the brink of reaching an agreement with Ujiri.
The Raptors hired an outside firm to help them identify the best candidate for the GM role and that process led them to identify Ujiri as their top candidate. While it would appear that Toronto respects Colangelo's experience and business acumen, they are less-than-thrilled with the club's on-court performance in recent years.
Colangelo was expected to deliver a winner by year seven of his tenure but things haven't improved as expected since the Raptors won the Atlantic Division in 2007. Since then, the club has undergone a number of face lifts with the most notable coming in the form of Chris Bosh's departure in the summer of 2010.
Colangelo's decision to take Andrea Bargnani with the No. 1 overall pick in the '06 draft also didn't pan out as hoped. Hindsight is 20/20, but the Raptors passed up the chance to take future All-Stars LaMarcus Aldridge, Rudy Gay, and Rajon Rondo to take the Italian forward. In fairness to the Raptors, however, the 2006 draft was littered with relative busts at the top of the board including Adam Morrison (No. 3), Tyrus Thomas (No. 4), and Shelden Williams (No. 5).
Atlantic Notes: Colangelo, Raps, Copeland, Knicks
The Raptors have scheduled a pair of conference calls this morning, one with MLSE president/CEO Tim Leiweke and one with Bryan Colangelo, who appears to be taking on a new non-basketball role with the franchise. While we await word on Colangelo's official title, let's check in on a few other notes related to the Raptors' front office changes and related to one of Toronto's division rivals….
- The Raptors' top target to replace Colangelo as the head of basketball operations, Masai Ujiri, isn't going to talk to Leiweke before Wednesday, says Doug Smith of the Toronto Star. Smith also suggests that if the Raptors miss out on Ujiri, they should try to convince current advisor Wayne Embry to become the team's new president.
- Bruce Arthur and Eric Koreen of the National Post each provide retrospectives for Colangelo's tenure as the Raptors' general manager.
- A few days after Chris Copeland's agent said that money would be an important factor in free agency this summer, Copeland stressed that he's "never chased the highest bidder," as Mark Hale of the New York Post details. "I love it here [with the Knicks]," Copeland said. "The finances play a part, but I have a lot of emotional ties here that it would be harder for me to break."
- In his latest piece for the New York Post, Marc Berman touches on the contract situations for a number of Knicks players. The highlights: Tyson Chandler says he's not sure whether or not Jason Kidd will continue his playing career, while Carmelo Anthony expresses a desire to see J.R. Smith re-sign with the team.
Stan Van Gundy Will Not Coach In 2013/14
Several days after a report indicated that Stan Van Gundy was unlikely to return to head coaching for the 2013/14 season, Van Gundy himself confirmed the news to David Baumann of Sports Talk Florida. Van Gundy told Baumann that he won't coach an NBA team next year, citing family reasons.
According to Van Gundy, he has not interviewed with any teams for their head coaching openings, despite being contacted by a handful of clubs. The former Magic coach has turned down all available opportunities, he tells Baumann. We had previously heard that Van Gundy interviewed with the Hawks as well as the Bucks. Assuming those reports weren't entirely off base, perhaps both teams just spoke to SVG rather than formally interviewing him.
With Van Gundy seemingly off the market, the Hawks and Bucks will be forced to look elsewhere for their new head coaches, while teams like the Nets and Clippers, who had also been linked to Van Gundy, will also have to explore other options. Grantland's Zach Lowe wonders (via Twitter) if Van Gundy is expecting a more desirable job to become available next offseason, though for now it's probably safe to take SVG at his word and assume he's making a family decision.
Scott Skiles Is Frontrunner For Nets Job
Scott Skiles is the frontrunner in the Nets' coaching search, according to Dave D'Alessandro of the Newark Star-Ledger. Skiles has been said to be in the mix for the Nets job since shortly after P.J. Carlesimo's dismissal, but this is the first time it has been indicated that he is at the top of the club's wishlist.
The Nets have been seeking an experienced coach who preaches defense and the former Suns, Bulls, and Bucks head man certainly fits the bill. He's also known for being a strict, no-nonsense coach, an approach that may not jive with star guard Deron Williams.
Other coaches said to be high on the Nets' wishlist include longtime NBA assistant Brian Shaw and Larry Brown. The Nets also made a very public overture to Phil Jackson, but they were quickly shot down by the Zen Master. Yesterday, we also heard Lionel Hollins is on Brooklyn's list.
Southwest Notes: Parsons, Grizzlies, McGrady
Here’s a look at the latest out of the Southwest Division as the Spurs look to go up 2-0 on the Grizzlies tonight..
- Chandler Parsons of the Rockets has switched from agent Mark Bartelstein to Dan Fegan, writes Jonathan Feigen of the Houston Chronicle. Parsons says that he made the change in an effort to “maximize his brand”.
- Former Grizzlies GM Chris Wallace took a lot of flack for trading Pau Gasol to the Lakers five years ago, but no one is complaining now, writes Peter May of Sheridan Hoops. Wallace was widely roasted for making what appeared to be a very one-sided deal, but the emergence of Pau’s brother, Marc Gasol, has vindicated him.
- Tracy McGrady isn’t a key player for the Spurs, but the veteran says that he is “living the dream” as he tries to help them advance beyond the conference finals in a limited role, writes NBA.com’s Fran Blinebury. McGrady spent the bulk of the year in China but hooked on with San Antonio at the end of the season.