Nets Back Off Sale Plans
Nets owner Mikhail Prokhorov has parted ways with Evercore Partners, an investment banking firm he hired to explore the sale of the team, Darren Rovell of ESPNNewYork.com reports. Prokhorov, who owns 80% of the franchise and 45% of the Barclays Center, hired the firm to take offers on the team after observing Steve Ballmer’s whopping $2 billion purchase price for the Clippers. Prokhorov bought the team in May 2010 for $200MM. Forbes magazine lists the Nets as the sixth most valuable team in the NBA at $1.5 billion, Rovell notes.
This development lends credence to a statement made by Nets CEO Brett Yormark last week. “Nothing has happened and they’ve been talking about it [in the media] for a year,” Yormark said. “So I’d probably say I don’t think anything is going to happen. We have an ownership group that is very committed.”
The investment fund for the government of the nation of Qatar and former interim Clippers CEO Dick Parsons were reportedly interested in purchasing the Nets, a franchise that multiple sports bankers believe would sell for as much as $2 billion, according to Josh Kosman and Claire Atkinson of the New York Post. Kosman and Atkinson also identified “two wealthy U.S. families” as parties potentially eyeing a purchase of the Nets. Others who have been linked to the Nets include investor David Bonderman, former Oracle CEO Larry Ellison, hedge fund manager David Einhorn, and Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs.
The Nets are now in the fifth season of Prokhorov’s ownership, which happens to be the same season by which he predicted that the franchise would win an NBA title. Unfortunately for the team and its fans, the Nets are closer to winning the draft lottery (if they owned their first-rounder next season) than they are to raising a championship banner. Much of Brooklyn’s current woes are the result of high-risk trades that mortgaged the franchise’s future for a run at a title, a strategy that backfired and will have the team struggling to recover over the next few seasons, something that new ownership wouldn’t necessarily be able to reverse. But now it would appear that Prokhorov may be around long enough to have to endure the team’s rebuilding years. Of course, the right offer for the team could change everything in a flash, though that is just my speculation.
Atlantic Notes: Prokhorov, Bargnani, Smart
Nets CEO Brett Yormark told reporters, including John Brennan of The Record, that he does not “think anything’s gonna happen” and that “we have an ownership group that is very committed,” when asked about rumors of a sale of the team by Mikhail Prokhorov. Yormark also added to the pressures of the Nets, who dropped from the eighth seed to the 10th seed after Wednesday’s loss to the Hornets, by saying he wants the team to “own” New York City.
“This market is very competitive,” Yormark said. “As much as I say we don’t compete against the Knicks or the Garden, we do. That’s the reality of it. I’m opportunistic, right? They’re struggling, and – it’s going to be cyclical. So I want to own this city. That’s critical for us. I think the way you own it is by winning and getting to the playoffs this year.”
Here’s more from the Atlantic Division:
- Andrea Bargnani, who’ll be an unrestricted free agent at season’s end, and who missed all but two of New York’s first 51 games with leg injuries, has stepped up in scoring for the Knicks with Carmelo Anthony out for the season, Peter Botte of The New York Daily News writes. The veteran big man has averaged 17.8 PPG over his last five contests. Bargnani was a buyout candidate as the March 1st deadline for waived players to still be playoff eligible approached.
- Citing Kevin Garnett‘s sharp statistical decline, Andy Vasquez of The Record opines the Nets are a better team since they traded the future Hall of Famer for Thaddeus Young. In his first seven games as a member of the Nets, Young is averaging 12.7 points and 4.4 rebounds in 22.7 minutes per night. Garnett has made four appearances for the Wolves, contributing 8.5 PPG and 5.0 RPG in 19.3 minutes per game since the swap.
- Marcus Smart, who was named Eastern Conference Rookie of the Month for February, is having a growing impact on the Celtics and as a result, Boston coach Brad Stevens’ confidence in the point guard has increased, Chris Forsberg of ESPNBoston.com writes.
Latest On Nets, Hawks Sales
WEDNESDAY, 1:20pm: Investor and Lionsgate Entertainment chairman Mark Rachesky is joining the Frankel-Itzler-Starker bid, league sources tell Marc Stein of ESPN.com. At least one of the groups with interest in the Hawks is willing to pay more than $900MM, a source tells Stein, though it’s unclear if that total would include bonds tied to the arena that aren’t part of the franchise value, as Mike Ozanian of Forbes.com recently suggested. Stein also adds the names of Indonesian sports and media moguls Erick Thohir and Handy Poernomo Soetedjo to the group fronted by baseball legend Hank Aaron. Wilkins, the Hawks icon and current front office executive for the team, is expected to be a “prominent” member of a bidding group, Stein also hears.
12:23pm: Geffen tells Peter Newcomb of Bloomberg News that he’s not interested in buying the Nets, as Newcomb’s Bloomberg colleague Scott Soshnick tweets.
MONDAY, 8:54am: The Chinese investment conglomerate Fosun is bidding for the Hawks and has interest in the Nets, report Josh Kosman and Claire Atkinson of the New York Post, who hear from a sports banker who believes the Hawks will strike a deal with a new owner in six weeks. The investment fund for the government of the nation of Qatar and former interim Clippers CEO Dick Parsons are also among those interested in the Nets, a franchise that multiple sports bankers believe would sell for as much as $2 billion, according to Kosman and Atkinson. Impresario David Geffen is also considering a run at the Nets, Kosman and Atkinson write, renewing apparent interest from the past. The Post scribes also identify “two wealthy U.S. families” as parties eyeing the Nets.
One of the bankers to whom Kosman and Atkinson spoke disputed an earlier report that the NBA is mandating that current Nets owner Mikhail Prokhorov attach his 45% stake in the Barclays Center to his 80% share of the team, saying that the league hasn’t made a decision. The league is promising a verdict on the matter soon, but the confusion over just what’s a part of the sale is causing complication, Kosman and Atkinson hear. Bruce Ratner’s Forest City Enterprises has confirmed it’s shopping its 20% stake in the team, though Prokhorov’s camp has been reluctant to make the same pronouncement regarding its interest in a sale.
The Qatari investment fund seems an unusual bidder, though it has existing connections to the sports world. It owns a French soccer team, as Robert Windrem of NetsDaily points out. It also has ties to the NBA through beIN, a French sports television channel, the NetsDaily scribe tweets. Others linked to the Nets include former Oracle CEO Larry Ellison, investor David Bonderman and hedge fund manager David Einhorn, as well as Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs.
The same banker who suggested the Hawks sale will be complete in six weeks tells Kosman and Atkinson that he believes the NBA would like to see the Hawks sold before the Nets are. A deadline for preliminary bids for the Atlanta franchise passed last week, and a long list of potential buyers exists. Tampa Bay Rays part-owner Randy Frankel is teaming with rapper-turned-entrepreneur Jesse Itzler and brokerage firm founder Steven Starker in one bid. Former NBA players Grant Hill and Junior Bridgeman, former Suns and Raptors GM Bryan Colangelo, and neuropsychologist Richard Chaifetz are partnering for another. The owners of Atlanta’s WNBA team, Kelly Loeffler and Mary Brock, along with their husbands, Jeffrey Sprecher and John Brock, are also reportedly interested in bidding for the Hawks. Former players Dominique Wilkins, Dikembe Mutombo and Chris Webber, former Grizzlies CEO Jason Levien, attorney Doug Davis and Seattle-focused investors Chris Hansen and Thomas Tull have been linked to the club, too.
Southeast Notes: Beasley, Webster, Mo Williams
Michael Beasley has promised to reform in the past, but he knows there’s a decent chance his 10-day contract with the Heat represents his final opportunity in the NBA, observes Shandel Richardson of the Sun Sentinel. The former No. 2 overall pick’s deal expires at the end of Saturday.
“I’m still the same guy, but it’s desperation for me,” Beasley said. “This is my last chance, my last shot. It’s either play or sit down and I’m not ready to play at `The Y’, not ready for open gyms. I’m playing to eat right now, and I got kids. It adds that much more.”
While we wait to see if Beasley’s third career contract with the Heat will lead to a fourth, here’s more from the Southeast Division:
- The Nets would have had to take Martell Webster if they’d traded Jarrett Jack to the Wizards at the deadline, and the deal would have involved the teams swapping future first-round picks, Grantland’s Zach Lowe tweets. Those Jack proposals appeared to be contingent on Brooklyn’s failed Reggie Jackson-for-Brook Lopez talks, as Lowe points out (on Twitter).
- Mo Williams says he took his time on successful Cavs teams earlier in his career for granted and is grateful for last month’s trade that sent him from Minnesota to the Hornets and gave him a chance to compete for a playoff berth again, as he tells Jessica Camerato of Basketball Insiders. The soon-to-be free agent signed with the Wolves knowing they wouldn’t be contenders, but it seems his focus has changed. “I just want to win. It’s as simple as that — just win,” Williams said. “I’m at the point at my career where I’ve made a lot of money, been an All-Star, and one thing I haven’t experienced is playing at the highest level and that’s winning a championship. That’s everybody’s goal.”
- Re-signing Trevor Ariza would have helped the Wizards better overcome their recent struggles, but that was a sacrifice the franchise was willing to make to save cap flexibility for a shot at Kevin Durant in the summer of 2016, as Ben Standig of CSNWashington.com examines.
Atlantic Notes: Young, Datome, Chris Smith
Nets GM Billy King wants to keep Thaddeus Young beyond this season and make him a building block for the team, writes Mike Mazzeo of ESPNNewYork.com. Young, who has a player option worth nearly $10.222MM for next season, is seeing fewer minutes per game since the trade to Brooklyn than in any season but his rookie year, but he’s nonetheless glad to be a part of the team’s plan for the future.
“It means a lot,” Young said. “It means that I’m definitely a player that has come into his own and being able to go out there and do a lot of things to help my team win basketball games. Sometimes I can go out there and be a game-changer with the energy I bring to the table.”
There’s more on the Nets amid the latest from the Atlantic Division:
- The Celtics seem to want a long-term future with Jonas Jerebko, but while president of basketball operations Danny Ainge said he likes Gigi Datome and that the Celtics aren’t looking to release or arrange a buyout with him, he also said that it’s unclear just how he fits with the team. Steve Bulpett of the Boston Herald has the details. The Celtics executive is focused more on player evaluation than wins and losses even as his team sits just a game and a half back of the final playoff spot in the Eastern Conference, Bulpett notes.
- A season of prolific roster turnover has challenged Celtics coach Brad Stevens, but he’s shined amid the team’s many moves, navigating the club into contention for a playoff spot, as Chris Forsberg of ESPNBoston.com examines.
- Deron Williams believes all the trade rumors surrounding him and other high-profile Nets before the deadline affected the performance of the team, which has played better since February 19th passed, as Ohm Youngmisuk of ESPNNewYork.com observes.
- KB Peja of Kosova has released ex-Knicks guard Chris Smith, notes Ian Begley of ESPNNewYork.com (via Twitter). The 27-year-old brother of J.R. Smith signed overseas last month but struggled to make an impact during his brief time playing in southeastern Europe.
Charlie Adams contributed to this post.
And-Ones: Thomas, Mudiay, Nets
Isaiah Thomas was stunned when the Suns dealt him right before the trade deadline but he wasn’t surprised the Celtics wanted him, Alex Kennedy of Basketball Insiders reports. Thomas, who has three years and approximately $19.76MM remaining on his contract after this season, expected Goran Dragic to be traded but thought he’d remain with the club that acquired him in a sign-and-trade deal with the Kings last summer, according to Kennedy’s story. Boston’s Danny Ainge was the first GM to contact Thomas when the free agency period began in July and had been intrigued by Thomas’ skills since Thomas was a college prospect, Thomas told Kennedy. Thomas, who was named Eastern Conference Player of the Week on Monday, is excited about his role with the Celtics and hopes to remain with the team in the long term, Kennedy adds.
In other news around the league:
- Marquee draft prospect Emmanuel Mudiay is once more playing with China’s Guangdong Southern Tigers months after it appeared his overseas stint was at an end, as Nick Bedard of Basketball Buddha notes. Mudiay is the No. 2 ranked prospect in Eddie Scarito’s Hoops Rumors Prospect Power Rankings, while Chad Ford of ESPN.com ranks him third and Jonathan Givony of DraftExpress has the point guard fourth.
- Mirza Teletovic, a restricted free agent after the season, wants to remain with the Nets, Alex Raskin of the Wall Street Journal tweets. Teletovic is out for the season after he was diagnosed with multiple blood clots in his lungs in January. Teletovic was averaging 8.5 points and 4.9 rebounds in 40 games this season before the diagnosis.
- The Hawks recalled Mike Muscala from the D-League’s Fort Wayne Mad Ants, the team announced on Monday, Muscala, who appeared in six games with the Mad Ants, is averaging 3.6 points and 2.1 rebounds in 20 games with Atlanta this season and gives the club some frontcourt depth.
- The Sixers wanted to give JaVale McGee an opportunity to finish out the season with a playoff team, according to Chris Mannix of Sports Illustrated (Twitter link). Philadelphia coach Brett Brown said to Mannix it was “the right thing to do.” Several playoff teams are interested in McGee, who was acquired by the Sixers in a trade last month.
Atlantic Notes: Celtics, Robinson, Jackson
Isaiah Thomas has opened eyes with his three point shooting, but there is another aspect of his game that has impressed the Celtics, according to Steve Bulpett of The Boston Herald. The newly acquired guard, who came to Boston from Phoenix in a deadline-day deal, has eight three-pointers in his first three games as a Celtic. Coach Brad Stevens said his ability to space the floor is just as valuable. “We started the season playing very skilled at the 4 and the 5,” Stevens said, “but I think the ability to get in the paint, again, off of his (Thomas’) creation — but then the next guy getting into the paint because of it — is probably the key.” More from the Atlantic Division..
- The 76ers grabbed Thomas Robinson off waivers to spite the Nets, according to Gary Washburn of the Boston Globe. They needed another contract on the books since they’re at the salary floor and wanted to take a closer look at the forward, but GM Sam Hinkie also knew that they playoff-hopeful Nets were interested in his services. Hinkie was at odds with Nets GM Billy King over the handling of Andrei Kirilenko, who was traded from Brooklyn to Philly with the belief that he would be bought out. Instead, the 76ers demanded that he report to the club and then eventually waived him.
- One year later, there are still questions about whether Phil Jackson can build the Knicks into a contender, Mike Lupica of the New York Daily News writes. Jason Kidd‘s young and athletic Bucks, less than a year into Kidd’s time in Milwaukee, are closer to being a real contender for the title than the Knicks are, or might be anytime soon. Knicks fans clamored for the Zen Master in 2014, but it’s now unclear if he’s the answer for them or whether Derek Fisher has what it takes to be a successful coach.
- In a video interview, new Celtics forward Jonas Jerebko tells A. Sherrod Blakely of CSNNE.com that he is enjoying his “fresh start” in Boston. He has averaged 12 points and 5.3 rebounds in three games since being traded from the Pistons. “I appreciate Detroit and all they did for me, but it was time for me to move on,” Jerebko said. “I feel great in this new situation. It’s a great organization and I’m honored to play for the Boston Celtics.”
Arthur Hill contributed to this post.
Donnie Nelson On: O’Neal, Blatche, Sanders
Mavericks president of basketball operations Donnie Nelson joined Dallas’ 1310 The Ticket today and discussed a number of topics regarding the team. The Dallas Morning News transcribed a number of the highlights from Nelson’s interview:
When asked if the team would still like to add another big man, Nelson responded by saying:
“We’re not opposed to the right addition. But, again, it’s gotta be changed for the right reason. We do like what we have and for it to settle down. I think one of our big needs was answered with Amar’e [Stoudemire]. If we do add a player he would be an end of the bench type, specialist piece; it’s a possibility, but I wouldn’t wait for something like that to happen because it probably won’t at the end of the day.”
On if he thinks the window to sign Jermaine O’Neal is closed:
“That’s really a question for him. The door is always open. We’ve always been fans and he’s our kind of guy. It’s really where he is at with his family, with his health situation. Whether it’s during the season or summer, he’s a Dallas resident and we’d love to have the conversation if and when it’s right for him.”
On if the team has any interest in Larry Sanders, who has hinted that he may not return to the NBA, Nelson said:
“For the here and now, we’re long enough and tall enough on our front line with Tyson Chandler and our backup situation. If there is any potential or possibility there it’d be a summer conversation.”
When discussing Dallas’ interest in free agent Andray Blatche, who is currently considering a lucrative contract offer to return to China, Nelson said:
“Yeah, and a lot of these depend on minutes. Some of the guys, as they’re looking over the NBA landscape, let’s face it. If you take a player of that caliber and put him on our team, how much is he going to play? That certainly resonates with him and his agent. Those are possibilities, whether it’s a shooter or a little more support in the front court. But, again, it’d have to be the right piece. I wouldn’t be optimistic that anything would happen at this point.”
Atlantic Notes: Robinson, Plumlee, Towns
Thomas Robinson is pleased to be a member of the struggling Sixers despite Philadelphia’s waiver claim that prevented him from joining the Nets, who currently hold the No. 8 playoff seed in the Eastern Conference, on a 10-day contract, Mike Tokito of The Oregonian writes. “I was happy because the Sixers made it clear that they wanted me here,” Robinson said. “At the end of the day, I’m happy.” The forward is also glad to have the opportunity to garner playing time after failing to play in 21 of the 53 contests that he was with the Blazers this season, Tokito adds. “I’m going to play basketball,” Robinson said. “Let everything happen on its own. I’m not going to try to force nothing. I’m going to find my way to get comfortable. And then after that, everything will take care of itself.”
Here’s more from the Atlantic Division:
- Sixers coach Brett Brown said that Robinson will have a chance to make his case for the team to re-sign him long-term, Tokito relays. “He fits all the things we like when we identify keepers. It’s a look that we couldn’t pass up,” Brown said. “He’s not going to have a better environment to have a legitimate chance to be a legitimate NBA player.“
- The Nets‘ acquisition of Thaddeus Young has impacted the playing time of Mason Plumlee, Tim Bontemps of The New York Post writes. “Time comes from playing well,” coach Lionel Hollins said. “He just hasn’t played well in a couple games. He can’t worry about Brook [Lopez] or not playing. He just has to go out there and play. That’s the game. You have to go play, and he’s the starter and I have no plans of changing that, and he’s just got to play better.”
- Duke’s Jahlil Okafor is the consensus No. 1 overall pick in this year’s draft according to NBA scouts, but the Knicks may be better served to select Kentucky’s Karl-Anthony Towns if given the choice, Adam Zagoria of SNY.tv writes. Though Okafor is more polished than Towns, scouts told Zagoria that the Kentucky big man’s superior athleticism and ability to stretch the floor on offense make him an intriguing prospect who could end up being the most talented in this year’s draft.
Atlantic Notes: Carter-Williams, Anthony, Nets
Michael Carter-Williams believes that Sixers coach Brett Brown did not approve of the trade that sent the point guard to the Bucks, according to Bob Cooney of the Philadelphia Daily News. The 2013/14 Rookie of the Year award winner felt it was solely a front office decision by GM Sam Hinkie, the story continued. “I think the ultimate thing that it comes down to is coach Brown coaches and Sam does the moves,” Carter-Williams said. “I think that’s what it comes down to and I think that’s the agreement and that’s all I really know. I think that if it was up to coach Brown, I don’t think I would have been moved, to be honest.” Carter-Williams was still surprised because he felt he was in the team’s long-term plans along with lottery picks Nerlens Noel and Joel Embiid, Cooney added in a tweet.
In other news around the Atlantic Division:
- Derrick Rose‘s injury history was a major reason why Carmelo Anthony chose to stay with the Knicks rather than signing with the Bulls when he was an unrestricted free agent last summer, Marc Berman of the New York Post reports. Anthony, who is out for the season with a knee injury, told friends last summer that there was no guarantee he would win a championship in Chicago because of Rose’s recurring health issues, according to Berman. Rose could miss the remainder of the season after suffering another knee injury.
- Kevin Garnett mentioned the uncertain ownership situation surrounding the Nets when he spoke about his decision to waive his no-trade clause and join the Timberwolves, notes Tim Bontemps of the New York Post.
- Isaiah Thomas could be the long-term answer for the Celtics as their starting point guard, Chris Forsberg of ESPNBoston.com speculates. Thomas, who was traded by the Suns to Boston last week, has three years left on his contract and it could be more sensible to have him start alongside Avery Bradley and move rookie Marcus Smart to a sixth-man role, Forsberg adds.
- Knicks coach Derek Fisher is having a hard time adjusting to being a first-year coach of one of the league’s worst teams after playing for winning teams throughout his career, according to Fred Kerber of the New York Post. “I’m not comparing this to any other time in my basketball career. This is the first time I’ve been in this position,” Fisher said to Knicks beat reporters.