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March 3, 2015 Updates

The DeVos family, which owns the Orlando Magic and Amway, has purchased a minority stake in the Chicago Cubs. “Hailing from the Midwest and having followed the Chicago Cubs for many years, the DeVos Family is proud to confirm that we have invested a non-controlling interest in the Chicago Cubs and the Wrigley Field renovation project,” the family said in a statement issued to the Orlando Sentinel. “We respectfully refer any further questions on this topic to the Cubs organization.” Orlando Sentinel

The still new-ish commissioner used the powerful forum of the league's annual Technology Summit -- full of sports business insiders in expensive suits -- to reiterate his position. What was most notable, though, was how thoroughly in line behind him NBA owners are. The panel discussions traditionally are off the record, so I cannot quote the pro-gambling positions uttered on stage. But in follow-up interviews, it was clear that almost everyone sees gold in Silver's strategy. Newsday

March 2, 2015 Updates

Michael Jordan is a rookie on the Forbes billionaire list, coming in at a tie for the 1,741st richest person in the world. Though the Nike Air Jordan brand continues to do bonkers sales ($2.25 billion in 2013, from which Jordan earned $90 million), the biggest reason for his leap onto the list is his ownership in the Hornets — his stake in the franchise now supposedly worth over $500 million after Steve Ballmer dropped $2 billion on the Clippers. Now that MJ has cleared this imaginary hurdle, total happiness and fulfillment are surely close behind. The Big Lead

Other majority team owners who made this top 400 richest included Brooklyn Nets owner Mikhail Prokhorov (No. 125, $9.9 billion), Chelsea FC owner Roman Abramovich (No. 137, $9.1 billion), Miami Heat owner Micky Arison (No. 191, $7.1 billion), Miami Dolphins owner Stephen Ross (No. 216, $6.5 billion), St. Louis Rams, Denver Nuggets, Colorado Avalanche and Arsenal owner Stan Kroenke (No. 225, $6.3 billion), Orlando Magic owner Rich DeVos (No. 259, $5.7 billion), Detroit Tigers and Red Wings owner Michael Ilitch (No. 330, $4.8 billion), Jacksonville Jaguars and Fulham FC owner Shahid Khan (No. 330, $4.8 billion), Washington Nationals owner Ted Lerner (No. 330, $4.8 billion), the New York Knicks and Rangers owners, the Dolans (No. 381, $4.3 billion), New England Patriots and Revolution owner Robert Kraft (No. 381, $4.3 billion) and Dallas Cowboys owner Jerry Jones ($4.2 billion). ESPN.com

A handful of potential suitors here and abroad are interested in making a play for the Brooklyn Nets as the auction for the NBA franchise gears up, The Post has learned. Chinese conglomerate Fosun and the Qatari government’s investment fund have signaled an interest in buying the pro basketball team from majority owner and Russian billionaire Mikhail Prokhorov. New York Post

Some believe delaying the Nets sale is Silver’s goal. The Atlanta Hawks also are for sale, with bids said to be around $900 million, and the NBA may not want prospective buyers to be split between the teams. China’s Fosun is also in the bidding for the Hawks, sources said. New York Post

Interest is also coming from music mogul David Geffen, who considered a bid for the LA Clippers last year before the NBA team was sold for a record $2 billion to former Microsoft chieftain Steve Ballmer. Even former Time Warner boss Dick Parsons, who was interim chief executive of the Clippers when the NBA forced then-owner Donald Sterling to sell the team, has eyed the Nets, sources said. New York Post

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
February 13, 2015 Updates

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