July 30, 2021 | 4:08 am EDT Update
Shams Charania: The Utah Jazz are in serious talks on a deal to send center Derrick Favors to the Oklahoma City Thunder, sources tell me and @Tony Jones.
Spencer Dinwiddie is interested in playing alongside Bradley Beal and joining the Wizards in free agency, as Quinton Mayo noted. Washington would likely need to acquire Dinwiddie via a sign-and-trade to make it happen. Dinwiddie is considered one of the top free agents available in our HoopsHype rankings.
Dinwiddie is intrigued by forming a backcourt tandem with Beal, Rui Hachimura’s game, and Washington off the court, a source familiar with Dinwiddie’s thinking, told HoopsHype. With a core of Beal, Dinwiddie, and Hachimura, Dinwiddie believes the Wizards can become a playoff team, the source said. Dinwiddie also is confident he can help recruit players to Washington.
Sean Cunningham: According to sources, former Sacramento State Hornets star Marcus Graves will be part of the Sacramento Kings Summer League team. Graves, 25, has had several stops in the G League.
Ben Anderson: The @Utah Jazz announce that they have officially agreed in principle to acquiring Jared Butler for the 30th pick but make no mention of what the other two draft picks will be. Worth noting, the Grizzlies own their own second rounders in each of the next two drafts.
Kevin Durant tallied a 2,500% return on his Robinhood stock today. Remarkably, it’s his second 10-bagger this month. The NBA star bought into Robinhood during the online broker’s venture capital rounds through his Thirty Five Ventures. Robinhood made its stock market debut today at $38 a share, giving it a valuation of $32 billion. Durant’s firm bought into Robinhood in 2017, when it was valued at just $1.2 billion, according to data compiled by Crunchbase.
Robinhood’s return isn’t the only 1,000%-plus return he’s booked this month, a rare level of returns coined a “10-bagger” by investing legend Peter Lynch. The Brooklyn Nets forward tallied another huge paper gain this month when Mercury, an online bank for other start-ups, raised Series B financing at a valuation of $1.6 billion. That’s 16 times what the business was worth when Durant was part of Mercury’s Series A financing in late 2019. Fellow NBA player Andre Iguodala also invested in Mercury at that time.
Durant, 32, focuses his off-court attention more on investing with Thirty Five Ventures than on endorsements. The fund has made more than 75 investments, including in Coinbase, which is up 54-fold from his 2017 acquisition of shares in the cryptocurrency platform. He also has stakes in Acorns, Overtime, NBA Top Shot-maker Dapper Labs and sports card investment platform Alt, among dozens of other active investments. Probably his largest cash outlay has been for a 5% stake in the Philadelphia Union, a Major League Soccer franchise valued at $530 million. He holds an option to purchase an additional 5% of the team too.