HoopsHype Owners rumors

April 16, 2014 Updates

The Milwaukee Bucks won’t be moving any time soon. Today, Herb Kohl reportedly sold the Bucks to hedge fund billionaires Marc Lasry and Wesley Edens for $550 million. Bidding for the team has been open since December, and rumors circulated that the Seattle duo of Steve Ballmer and Chris Hansen were interested in purchasing the team. However, Kohl made a condition of the sale that the team would stay in Milwaukee. The Fields of Green

Forbes recently listed the Bucks as the least valuable franchise in the NBA at $405 million, which means the team sold for a 36 percent premium on their valuation. The Bucks are in the smallest market with one of the worst arenas in the NBA, so why were billionaires lining up to buy the NBA’s least valuable team? The Fields of Green

One reason is that NBA teams have cost certainty until 2017 based on the most recent collective bargaining agreement (CBA). There is a slim chance the CBA could last until 2022. However, that is doubtful due to the NBA’s upcoming new media deal driving up the valuation of small-market teams, such as the Sacramento Kings and (drum roll) the Bucks. The Fields of Green

April 15, 2014 Updates

A Michigan-based ownership group has purchased the NBA Development League's Springfield Armor and will move it to Grand Rapids, Mich., starting with the 2014-15 season. A news conference is scheduled for Tuesday at 4 p.m. ET in Grand Rapids, finally making official a deal that was reported last month. USA Today Sports

April 13, 2014 Updates

It's a fact that has began a conversation to eliminate the conferences for playoff purposes and just have teams with the best records participate in postseason. But could such a radical idea really happen? That is unclear. But NBA commissioner Adam Silver told Fox Sports Southwest Friday night the Association is looking at several options. "I don't know if there will be movement, but my initial thought is we should take a fresh look at it," Silver said. USA Today Sports

"The ninth team in the West has a better body of work for the season than every single team in the East," Tom Penn, the former vice president of basketball operations for the Portland Trailblazers and a current ESPN analyst told USA TODAY Sports' Sam Amick. "I mean 49 or 50 wins in the West is so much more impressive than the 55 or 56 that Indiana or Miami is going to stumble to. "And in fact, if the playoff format was such that Indiana or Miami had to face off against the ninth team in the West, they'd have a challenge on their hands big-time with the way they're playing. Those (West) teams are charging to the finish. Everything is relative. There should be an asterisk on everything based on the uneven schedule." USA Today Sports

April 8, 2014 Updates

Tim Kawakami: Multiple sources: Warriors co-owner Joe Lacob has had talks with A's owner John Fisher about Lacob's interest in buying the A's... But the sources indicate that Fisher has to this point told Lacob he is not looking to sell the A's. There are some indications that Lacob would be interested in building a baseball stadium on the Howard Terminal site. It's not just Lacob. Several big-money types are eyeing the A's. Most, I'm told, believe the first/best option is to keep them in Oakland. I'm told that any Lacob interest in the A's is now on the back-burner. But Fisher knows that he'll have a nice market if he wants to sell. Twitter @timkawakami

April 5, 2014 Updates

A league source told CSNNE.com that two teams that might be made available in the near future are the Milwaukee Bucks and the Orlando Magic. But on Friday, Powe's focus wasn't as much on future ownership. Instead, he was more locked into enjoying his time back in Boston, a city that's still near and dear to him. CSNNE.com

Getting to the NBA was only part of the professional basketball dream Leon Powe had while growing up. Powe, who was in town representing the '08 Celtics championship team during the Boston Red Sox opening ceremonies on Friday, wants to someday own an NBA team. "I always wanted to do it," Powe told CSNNE.com prior to Boston's 111-102 loss to Philadelphia. "I had a dream when I was younger to make it to the NBA, and be a businessman." Although there is not an NBA team currently for sale, Powe said he is in the process of putting together a group of potential investors in case one does hit the open market soon. CSNNE.com

April 2, 2014 Updates
April 1, 2014 Updates

Minnesota business magnate Glen Taylor has made a formal offer to acquire the Star Tribune, which would add the state’s largest newspaper to his holdings of more than 80 companies. Taylor said in an interview Tuesday that he made a cash offer as an individual without any other investors. He declined to say how much he has offered to pay. “It isn’t that I’m interested in going around and buying papers in other parts of the country,” Taylor said. “I’m interested in this one because it’s a Minnesota paper.” Minneapolis Star-Tribune

If Taylor acquires the Star Tribune, he said he won’t take on a managing role with the company, although he might put a family member on the board. He also said the management would remain the same. Minneapolis Star-Tribune

March 31, 2014 Updates

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