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February 26, 2015 Updates

Tampa Bay Rays part-owner Randy Frankel and ComPsych Corp. founder Richard Chaifetz are among the bidders for the National Basketball Association’s Atlanta Hawks, according to two people with direct knowledge of the matter. Some of the bids were for about $900 million, the people said, declining to be specific. The people requested anonymity because the bidding isn’t public. The team, which is on the market after lead owner Bruce Levenson disclosed a racially insensitive e-mail, retained Goldman Sachs Group Inc. and Inner Circle Sports to run the sale. Bloomberg

February 23, 2015 Updates

It's not likely that owners would go after the max-salaried guys. But the game's stars have long been frustrated by what they believe is an artificial limitation placed on what they can earn, especially compared to players in baseball that make tens of millions more. That will be one of the issues about which James has to get up to speed. "It takes about a year," Jones said. "You really have to go to the summer meetings to get a full grasp of what the union is about, and then have some time to look at the CBA, look at the issues, look at the areas for improvement and look beyond those things. Because as we see with this new CBA, every deadline, every two months something unfolds that is an unintended consequence of this deal being struck." NBA.com

February 19, 2015 Updates
February 16, 2015 Updates
February 15, 2015 Updates

The sale of the Hawks continues on a “deliberate, methodical process,” NBA Commissioner Adam Silver said Saturday night. Silver added that there are several prospective buyers. “That has moved along the course that we expected,” Silver said during a news conference at the All-Star game. “There are several very interested parties who are looking at the team. It is on schedule.” Atlanta Journal-Constitution

Silver confirmed that the NBA recently changed its rules concerning team ownership. In a rule passed by the Board of Governors, ownership groups cannot be comprised of more than 25 individuals. Also, each individual must own at least 1 percent of the team. Silver said the approval of the rule change was a formality. The Hawks are expected to be sold for at least $800 million and potentially as much as $1 billion. The Clippers sold this summer for $2 billion. Atlanta Journal-Constitution

February 14, 2015 Updates

Mikhail Prokhorov is selling the Brooklyn Nets and if Philadelphia 76ers CEO Scott O'Neil is correct, the Russian tycoon is going to make an even bigger killing than people thought. O'Neil was a guest on Bloomberg Television's "Market Makers" when he was asked how much he thinks the Nets will sell for. "I think they go for $1.4, $1.5 billion," O'Neill answered. "[the exact amount] depends on what's included, what the lease looks like, how much of the arena you get. There is a whole bunch of different factors. But I would say, given the current set up, the current structure now, $1.5-ish [billion]." Yahoo! Finance

February 13, 2015 Updates
February 12, 2015 Updates
February 11, 2015 Updates

"I asked the commissioner (Adam Silver) to set up a meeting with (Dolan), make a step forward," said Oakley. "I want to know what I did to be hated so bad by an owner. The dad (Charles Dolan), I never heard him say nothing bad about me. I asked players I played with to go talk with (Dolan). He said he don't want to deal with me." Oakley said Knicks fans are the ones hurting these days, because Dolan's product stinks and fans are "paying their money to watch" terrible basketball. "It's all gimme basketball now," said Oakley. "One guy can't make a team better. We had a lot of high IQ guys playing. There's no leaders. When I was here I treated people with respect," said Oakley. "How can I be that bad?" New York Daily News

February 10, 2015 Updates

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