HoopsHype Owners rumors

LATEST HOOPSHYPE VIDEOS

April 7, 2015 Updates
April 6, 2015 Updates
April 3, 2015 Updates

Several people with knowledge of the situation told The Atlanta Journal-Constitution that two groups are considered finalists. Current Hawks ownership and prospective buyers have signed non-disclosure agreements that prevent them from speaking publicly on the sales process. One leading group is led by Grizzlies minority owner Steve Kaplan, who is joined by Indonesian billionaires Erick Thohir and Handy Poernomo and former Grizzlies CEO Jason Levien. Braves great Hank Aaron also has been associated with the group. Atlanta Journal-Constitution

The other leading group is led by Lionsgate Entertainment’s Mark Rachesky, who is joined by New York investment banker Steve Starker. Jesse Itzler, who has done consulting work for the Hawks and attends many games, is also associated with the group. He is married to Spanx founder Sara Blakely. Atlanta Journal-Constitution

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

Any rumor missing? E-mail us at   hoopshype@hoopshype.com.