Joseph Tsai Buying 49 Percent Stake In Nets
Nets owner Mikhail Prokhorov has reached an agreement to sell a 49% minority stake in the Nets to Alibaba executive vice chairman and co-founder Joseph Tsai, according to Adrian Wojnarowski and Zach Lowe of ESPN. League sources tell the ESPN duo that Tsai’s purchase will be based on a $2.3 billion valuation of the franchise.
As Wojnarowski and Lowe detail, the agreement between Prokhorov and Tsai will give the new investor the option to take over a majority interest in the franchise in the not-too-distant future. The plan is for Prokhorov to remain the principal and operating owner of the Nets for four more years, with the assumption that he’ll sell his stake once Tsai triggers his option.
As long as Tsai controls just 49% of the team, Prokhorov will continue to oversee the Nets’ basketball and business operations, sources tell the ESPN duo.
Reports of Prokhorov’s willingness to sell 49% of the Nets, with a path to controlling ownership for the new minority shareholder, have surfaced throughout the year. Tsai, whose Alibaba Group is a massive Chinese e-commerce company, had been cited as a possible buyer multiple times, despite the fact that a spokesperson repeatedly denied his interest.
The $2.3 billion valuation on Tsai’s purchase of the Nets is somewhat surprising. Although Brooklyn is certainly a favorable market, the club has won just 41 total games in the last two years, and currently lacks superstar talent. The agreement also doesn’t include ownership of the Barclays Center, the team’s arena. Nonetheless, the $2.3 billion valuation is a new record for an NBA franchise, surpassing the Rockets’ $2.2 billion sale price from earlier this year.
[RELATED: Tilman Fertitta Approved To Buy Rockets For $2.2 Billion]
Although the Nets haven’t enjoyed much on-court success in recent years, Tsai has “expressed enthusiasm over the direction of the franchise,” and has confidence in GM Sean Marks and head coach Kenny Atkinson, sources tell Wojnarowski and Lowe. Tsai intends to take advantage of his strong business ties in Asia to create “global business opportunities” for the Nets.
And-Ones: Saunders, Gordon, Prigioni
It’s been two years since Timberwolves icon Flip Saunders, then the franchise’s president of basketball operations, passed away from Hodgkin’s lymphoma. The man’s impact on the organization is still felt to this day, Jon Krawczynski of The Athletic writes.
Saunders played a vital role in the club’s recent return to relevance both from a business and personnel perspective. The celebrated executive’s touch can be seen at all levels of the organization from the new practice facility that Saunders helped design to the transactions he made in the wake of David Kahn‘s time at the helm from 2009 to 2013.
Saunders remains the only head coach in franchise history to lead the team to the playoffs, having done so eight times from 1997-2004 during his first run with the franchise. Since 2006, the team has cracked a .400 win percentage only once.
“I made a promise to Flip Saunders that we would win and end the playoff drought,” current franchise cornerstone Karl-Anthony Towns said on the media day of his rookie season shortly before Saunders passed. “And I intend to keep that promise.”
There’s more from around the league:
- Former NBA player Ben Gordon has run into trouble with the law, Jonathan Bandler of The Journal News writes. The 34-year-old wasn’t ultimately charged following a confrontation between himself and a woman at his business but police were called to the scene and he was hospitalized for psychiatric evaluation.
- The journey into the business world continues for Kobe Bryant. As Darren Rovell of ESPN writes, Bryant has approached his investments with the same obsessiveness that he did his NBA career.
- Retired NBA guard Pablo Prigioni is stepping down from his role as the head coach of Liga ACB team Baskonia, Orazio Cauchi of Sportando writes. The team has gotten off to a rocky start and it’s said that Prigioni has lost control of the situation.
Bulls Notes: Markkanen, Mirotic’s Concussion, Surgery
A solid string of performances throughout his first week as an NBA pro has Lauri Markkanen turning heads. Most recently, Lang Greene of Basketball Insiders writes, the rookie out of Arizona has impressed Cavaliers superstar LeBron James.
“He’s going to continue to get better,” James told the media. “The best thing about it is he’s getting an opportunity. If he makes mistakes, he can learn on the fly, but he’s going to play a lot. He’s good. It seems like he’s learning. He’s a good player.”
In three games with the Bulls so far, Markkanen has averaged an impressive 16.3 points and 9.3 rebounds per game. He’s done so in matchups against an array of formidable teams: the Spurs, Raptors and Cavs.
While much has gone wrong for the squad so far this season, the good news is that they seem to have nailed the draft pick that came with their offseason Jimmy Butler trade. Of course the better Markkanen plays, the harder it will be to relegate him to the bench when sidelined teammates Nikola Mirotic and Bobby Portis return to action.
That’s a challenge the organization is happy to face.
There’s more out of Chicago:
- LeBron James wasn’t the only Cavaliers player to speak highly of Lauri Markkanen. As Sam Amico of Amico Hoops writes, he impressed Dwyane Wade as well. “You can see if a guy knows how to play basketball when you first see him, right away. In the preseason, we all said he can play. No matter his age he can play. He’s aggressive. He understands they need him to score,” Wade said.
- After showing this summer that he’d like to remain in Chicago, Nikola Mirotic‘s camp suggested that his stance may not have necessarily changed, K.C. Johnson of the Chicago Tribune writes. That being said, there’s growing sentiment that, perhaps, he and Bobby Portis won’t be able to co-exist. As Johnson notes, there will presumably be more clarity as Mirotic recovers.
- Speaking of Nikola Mirotic‘s recovery, the 26-year-old hasn’t yet been cleared from concussion protocol, K.C. Johnson of the Chicago Tribune tweets. The forward will not be cleared for surgery until such time (if surgery proves necessary). Mirotic’s next concussion appointment will be next week.
NBA G League Assignments/Recalls: 10/26/17
Here are the G League moves from around the league today:
- The Sixers have recalled Furkan Korkmaz from the Delaware 87ers, the team announced in a press release. They had assigned him to the affiliate just earlier in the day.
- The Nets have assigned Isaiah Whitehead to the Long Island Nets, the team announced via press release. Whitehead didn’t see NBA action while recalled with the big league club.
Nikola Mirotic Could Waive Trade Veto
There have been indications that Bulls forwards Nikola Mirotic and Bobby Portis may not be able to co-exist when the former returns to the court following his injury, reports K.C. Johnson of the Chicago Tribune. There is now a sense that Mirotic is becoming more open to a trade, with one source suggesting that the situation may be heading toward a “me or him” ultimatum.
Johnson notes that Mirotic, signed to a two-year $27MM contract with trade veto rights during the first season, would now consider waiving that veto if the Bulls were to find a trade partner. Per CBA rules, however, Mirotic can not be traded whatsoever until January 15.
As we wrote last week, a punch from Portis in one of the team’s final practices before the regular season began has rendered Mirotic sidelined for four to six weeks. The 26-year-old suffered a concussion and fractured facial bones as a result of the altercation.
When healthy and utilized heavily, Mirotic can be a solid NBA asset, so his trade value could be intriguing despite the lofty price point. In fact, were it not for the tension that could potentially loom between he and Portis, it could be assumed that Mirotic would slot in alongside players like Zach LaVine and Lauri Markkanen as possible core pieces for future.
Alas, one can’t blame Mirotic for at least being open to an opportunity elsewhere considering the substantial consequences of the incident.
Northwest Notes: Trail Blazers, Baldwin, Dieng
The Trail Blazers have jumped out to a hot start this season thanks in large part to their formidable second unit. Jason Quick of NBC Sports Northwest writes that the club’s bench is becoming one of the league’s best.
The catalyst, Quick writes, has been Evan Turner, the 28-year-old second-year Trail Blazer who’s posted 13.3 points, 3.8 boards and 4.3 assists per game. Between Turner’s production, his ability to minimize turnovers and chip in with solid defense, he’s making an early case to be included in the Sixth Man of the Year conversation.
Other player who have looked solid off the bench for the Trail Blazers include Ed Davis and Pat Connaughton. This season, 28-year-old Davis has emerged as a voracious rebounder (18.8 per-36) and Connaughton has chipped in with 10.8 points per game, including two three-pointers made per contest at a 50% clip.
There’s more from the Northwest Division:
- The Nuggets strike Gina Mizell of the Denver Post as the ideal landing spot for disgruntled Suns guard Eric Bledsoe. While the team has expressed a willingness to let Emmanuel Mudiay and Jamal Murray play through their mistakes, it’s understandable that they may be intrigued to make a play for Bledsoe now that he’s definitely available.
- Second-year guard Wade Baldwin signed a two-way contract with the Trail Blazers this week but the team’s official website has announced that the guard has undergone surgery and is expected to miss six weeks after tearing a ligament in his right thumb.
- The Timberwolves will need to figure out just how Gorgui Dieng fits into their plans now that they’ve revamped their roster, Michael Rand of The Star Tribune writes. After playing 32.4 minutes per game last season, the 27-year-old advanced stat darling has seen just 13.8 through five games so far in 2017/18.
Central Notes: George, Pistons, Oladipo
While Pacers fans didn’t get a revenge win over Paul George‘s Thunder, they did gain some insight into the All-Star’s decision to force his way out of Indiana. Scott Horner of The Indianapolis Star curated a handful of interviews that George has given since his departure.
In one media scrum, George mentions that he felt that the team’s window to contend had closed and that a rebuild was forthcoming. That may not exactly qualify as a hot take but it narrows down the swingman’s motivations for seeking an opportunity elsewhere. That said, the Lakers – the team George was initially said to be interested in – haven’t won more than 30 games since 2012/13.
In other interviews, George seems to question the promotional strategy the Pacers’ have used regarding his pending return to Indiana in December, while also throwing shade at the team for how they traded Danny Granger to the Sixers back in 2014.
There’s more from the Central Division:
- The Cavaliers are going to need plenty more out of their shooting guards, Joe Vardon of Cleveland.com writes. So far this season, free agent acquisition Dwyane Wade has struggled to find a rhythm while J.R. Smith has gone ice cold from the field.
- Not married to any particular rotation, Pistons coach Stan Van Gundy intends to use the two-day period between Detroit’s victory over the Timberwolves and their contest with the Clippers on Saturday to re-evaluate the club’s lineups. Keith Langlois of the team’s official site writes that a number of players could be utilized differently in the frontcourt.
- The Pacers have been more than satisfied with what they’ve gotten out of Victor Oladipo so far this season, Clifton Brown of The Indianapolis Star writes. “I like his pace,” head coach Nate McMillan said after the team’s loss to Paul George‘s Thunder. “He’s doing a good job of not forcing the issue. His shot selection has been better. He’s knocking down shots and in a pretty good rhythm, and we try to go to him as much as possible, because he was the one guy with the hot hand. He’s just playing with a nice pace.”
Jazz Notes: Udoh, Exum, Ingles
The Jazz have been impressed with the production they’ve seen out of backup big man Ekpe Udoh, Mike Sorensen of the Deseret News writes. The 30-year-old returned to the NBA this offseason after spending the last two campaigns abroad.
“It’s great, when I’m on the bench, I’m able to relax,” Rudy Gobert, the man ahead of Udoh in the depth chart, said. “When you have someone who plays defense like he does, you know the team is in good hands. He makes us better as a team.”
Through five games this season, Udoh has blocked an impressive 2.4 shots per. Gobert, perhaps the league’s most vaunted defensive big man, has averaged just 2.2 despite playing nearly 20 more minutes per contest.
It’s not just the gaudy per-36 statline that has the Jazz organization impressed. Head coach Quin Snyder sees Udoh’s length and competitiveness as valued intangibles as well.
There’s more news out of Utah:
- Injured guard Dante Exum underwent surgery on his shoulder Tuesday. Per Mike Sorensen of the Deseret News, the 22-year-old’s return timeline remains indefinite.
- The Jazz don’t look much different than they did last season, Jonathan Tjarks of The Ringer writes in a comprehensive account of life in Utah sans Gordon Hayward. The scribe notes that Rudy Gobert had always been their most valuable player anyway.
- The league has handed forward Joe Ingles a $15K fine for the groin shot on Steven Adams over the weekend, Adrian Wojnarowski of ESPN tweets.
Community Shootaround: Available Free Agents
One notable NBA free agent found a new home this week, as 12-year veteran Josh Smith agreed to terms with the Pelicans. While it’s good to see J-Smoove back on an NBA roster, there are a number of players still on the free agent market whose inability to find new deals has been unexpected.
[RELATED: Current NBA free agents]
For instance, despite the fact that clubs like the Suns, Clippers, Hornets, and Pelicans are all missing key point guards early in the season, former third overall pick Deron Williams has yet to find work. Williams’ disappointing showing in the NBA Finals against Golden State remains fresh in everyone’s mind, but the longtime star is still just 33 years old and had a solid 2016/17 campaign in Dallas and Cleveland before struggling the postseason.
Meanwhile, given the rate at which most NBA teams are bombing away from beyond the three-point line, it’s surprising that veteran sharpshooters like Anthony Morrow and Brandon Rush remain free agents. Instant-offense shooting guards such as Monta Ellis and Jordan Crawford are also available for clubs in need of scoring off the bench.
Up front, David Lee is still unsigned after a productive season in San Antonio, while fellow bigs like Kris Humphries, Spencer Hawes, Roy Hibbert, and Tiago Splitter remain on the open market too.
Our full list of current free agents primarily includes players who spent some or all of last season on an NBA roster, so veterans still hoping for another shot – like Kendrick Perkins and Emeka Okafor – aren’t listed. Still, the list is extensive, featuring a mix of young players such as Archie Goodwin, Semaj Christon, James Young, and Edy Tavares, as well as reliable vets like Matt Barnes, Mike Dunleavy, Leandro Barbosa, C.J. Watson, and more.
What do you think? Do any of these players jump out as guys who should be on NBA rosters, or does it seem about right that they’re still available? If you think any of these free agents should be signed, which team(s) could use them?
Jump into the comment section below to share your thoughts!
Latest On Eric Bledsoe
Eric Bledsoe continues to sit out games for the Suns and, after a disastrous start to the season, the club has actually looked better with a new starting point guard — and a new head coach. Since Jay Triano replaced Earl Watson on the bench and Mike James replaced Bledsoe in the starting lineup, the Suns have won consecutive games at home, beating the Kings and Jazz.
As the Suns look to build on their recent success, here’s the latest on Bledsoe, from Gery Woelfel of The Racine Journal Times:
- NBA sources tell Woelfel that if the Bucks and Suns were to make a deal involving Bledsoe, Phoenix would likely ask for Malcolm Brogdon, plus either John Henson or Mirza Teletovic. Milwaukee has had interest in Bledsoe over the last few years, but is reluctant to part with Brogdon, the reigning Rookie of the Year, per Woelfel.
- According to Woelfel, the Bucks are – for now – dangling Matthew Dellavedova, but he’s not of much interest to the Suns — Phoenix remains focused on Brogdon.
- The Suns are eyeing young guards, and are also intrigued by Denver’s Emmanuel Mudiay. According to two NBA officials, the Nuggets and Bucks are viewed as “the leaders in the Bledsoe sweepstakes,” writes Woelfel.
- Those same two sources tell Woelfel that a number of other teams have internally discussed the idea of making a play for Bledsoe, including the Clippers, Celtics, and Heat.