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April 3, 2015 Updates

The sale of the Brooklyn Nets has stalled because Mikhail Prokhorov is trying get a $3 billion valuation for the team and Barclays Center while keeping a controlling interest in the NBA team. The Russian billionaire controls 80% of the team and 45% of the arena while Bruce Ratner controls 20% and 55%, respectively. Prokhorov wants to keep 51% of the Nets after any sale. Prokhorov’s terms have been confirmed by two sources who did not want to be mentioned because they do not have permission to speak about the deal discussion publicly. Three weeks ago I wrote that people were telling me Prokhorov only wanted to sell a minority interest. But at that time I wasn’t sure of the valuation he was seeking or the percent ownership he wanted to maintain. Forbes.com

March 31, 2015 Updates

In a meeting Monday with The Sacramento Bee editorial board, he expounded on his vision for NBA 3.0 – and even for “Civilization 3.0,” the title of his forthcoming book. Ranadive, who made his fortune in Silicon Valley, said the new arena being built downtown will be the most technologically advanced ever. Fans who opt in will be “recognized” by the arena, directed to their seats and the shortest concession line and presented with special offers and information. Likewise, he envisions the surrounding mixed-use development as the “smartest block on the planet” – not just a collection of chain stores, but a gathering place for Sacramento that will be a model for what a 21st century city can be. He sees the controversial Jeff Koons sculpture, which he embraces, as only one piece in a public art collection that stretches across downtown. Sacramento Bee

Yet even as he pursues this exciting global vision, he has some very important business closer to home. That includes making sure taxpayers get a fair return on their investment of at least $255 million in the arena. It must be a good deal not just for the “whales” who bought into the team, but also for the minnows – the folks who are making the arena possible. Much of the economic boost from the arena would come from the surrounding $500 million development. Ranadive and Kings President Chris Granger acknowledged the “chatter” that they may seek another city subsidy – which would be problematic – but said it’s too early in the budgeting process to know for sure. Sacramento Bee

March 26, 2015 Updates
March 25, 2015 Updates
March 16, 2015 Updates

However, not once during Silver's whirlwind tour — that also included a luncheon at the local rotary club — did the topic of a potential NBA work stoppage in 2017 arise in conversation. "Believe it or not — I can't speak for the union or anything — but it's not something I'm talking to teams about yet," Silver said. "I think it's premature." Recently, the National Basketball Players Association (NBPA) made the expected decision to reject the league's proposal to smooth out the rising salary cap. The NBA's new media rights deals, worth more than $2.6 billion per year, are expected to take form in the 2016-17 season as well as increase the salary cap. By "smoothing," the league intended to avoid a dramatic spike in the cap in 2016-17 and progressively spread the money over the first few years of the new TV deal. Indianapolis Star

Statement from Utah Jazz President Randy Rigby: “I can reassure fans that the Jazz are conducting business as usual and that the changes are designed to keep the LHM Group, including the Utah Jazz, intact as a community asset for future generations. We are grateful to Greg for his many contributions in supporting the Jazz, and look forward to him continuing to serve as our Governor on the NBA Board and as an active member of several NBA executive committees. As owners, the Miller family still runs the Jazz and remains engaged and committed to building a championship-caliber team.” NBA.com

Greg Miller, the CEO of the Larry H. Miller Group of Companies, including the Utah Jazz, will step down after seven years to pursue personal interests. The Deseret News has obtained a copy of the press release announcing the decision. It says Gail Miller, the owner of the LHM group, would transition the Group to a new corporate structure, which will include an outside board of directors. Deseret News

March 13, 2015 Updates

The inability of the NBA and NBPA to agree on a strategy for incorporating TV money follows other signs of a fraying relationship between league and NBPA leaders. Roberts, for instance, has complained about players being artificially “deflated” by restrictions on salaries while various players have taken critical notice of the Los Angeles Clippers selling for $2 billion and the Atlanta Hawks likely to sell for over $800 million. The rise of Paul and James as NBPA leaders also invites concern that they will prioritize the financial interests of superstars over other players. The NBA, meanwhile, has independently-audited financial records to show a number of teams are losing money. Moreover, the league’s sound business strategy on television and international growth—not to mention NBA commissioner Adam Silver’s adroit handling of the Donald Sterling crisis—appear to have benefited players as much as owners. Despite these achievements, tensions between the NBA and NBPA seem to be rising. Sports Illustrated

March 12, 2015 Updates

Former Los Angeles Clippers owner Donald Sterling says he could have gotten more than the record $2 billion paid for the team last year but the circumstances of the sale "markedly reduced" the price. The comment was contained in an amended complaint that Sterling's lawyers filed last week in his lawsuit against the NBA over the sale, the Los Angeles Times reported. The suit seeks at least $600 million in damages. ESPN.com

March 11, 2015 Updates

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