Tag: Owners

On Saturday afternoon, a joint …

On Saturday afternoon, a joint statement was released by the Pelicans and Saints in wake of McCord’s death. “On behalf of Mrs. Gayle Benson and our entire organization, we are devastated by the sudden death of Carley McCord. Carley was a valued member of both our New Orleans Saints and New Orleans Pelicans family as an in-game host, and her infectious personality and knowledge of both teams entertained our fans.”

The billion-dollar arena complex the …

The billion-dollar arena complex the Clippers want to build in Inglewood took another step forward Friday with the release of the draft environmental report for the project. The report found that the privately financed Inglewood Basketball and Entertainment Center might create a “large number of significant and unavoidable transportation impacts,” but would add almost 1,000 full-time non-construction jobs in the city, won’t contribute to gentrification or impact the viability of competing arenas in the region.

The complex would occupy 28 acres — …

The complex would occupy 28 acres — including 22 controlled by the city — near the intersection of West Century Boulevard and South Prairie Avenue. An 18,000-seat arena, featuring a sweeping roof that is designed to evoke the diamond shapes in a basketball net, anchors the development. Plans for the surrounding area include three parking garages, a practice facility, team offices, sports medicine clinic, hotel, retail space and a plaza.

Before settling on the current site, …

Before settling on the current site, the Clippers explored locations as far south as Long Beach, according to the report, in addition to several areas in Los Angeles including Boyle Heights and near Union Station. They also had discussions with owners of the Forum and the L.A. Stadium and Entertainment District, which is being developed by Rams owner Stan Kroenke.

Randolph owns a small percentage of the …

Randolph owns a small percentage of the Phoenix, and like the other NBA players who have bought into the NBL, he has entered into a mutually beneficial arrangement by investing with a friend in a franchise. The players buy proximity to the nerve center of a professional sports team, and the franchise gets an association with a brand-name NBA player. “It gives you confidence that you are on the right track and that there are others who share your vision who have done it before,” said Craig Hutchison, chairman of Melbourne United.

Basketball is still Marion’s true love, …

Basketball is still Marion’s true love, the sport he intuitively knows and the one in which he can imagine playing the most central role post-retirement. When the chance to join Walsh presented itself, Marion jumped. “I didn’t know anything about the NBL,” Marion said. “But it was a winning situation. Now that I’ve been, I would say that the way we have it set up over there, it’s the closest thing to NBA ball. That’s the thing I was in awe of.”

When Joe Lacob and Peter Guber paid …

When Joe Lacob and Peter Guber paid $450 million for the Golden State Warriors in 2010, the sports world was left scratching its head. The first major team purchase for the venture capitalist and Hollywood producer, who outbid billionaire Larry Ellison, then the world’s sixth-richest person, set a record price for an NBA franchise. It was hardly anyone’s idea of a crown jewel. Forbes valued the team at $315 million seven months earlier, No. 18 in the league. The team had been to the playoffs just once in the prior 15 years and had inconsistent attendance at its 44-year-old arena. No one is questioning the deal now. Today the Warriors are valued at $3.5 billion, the third most valuable team in the NBA behind the New York Knicks ($4 billion) and Los Angeles Lakers ($3.7 billion), a ten-fold appreciation since 2009 that has proven to be the decade’s best team investment in all the major sports leagues, including the NFL, NBA, MLB, NHL and international soccer, on a percentage basis.

Especially among big market owners with …

Especially among big market owners with larger home game financial gates, finances have also been an overriding concern about the league’s in-season tournament idea: Can the NBA promise “revenue-neutral” financial returns to teams for shortening the schedule to 78 regular season games, sources tell ESPN. Teams are reluctant to take short-term losses on losing two home dates to accommodate the tournament, especially when those games can be worth between $3 million and $4 million for the most profitable big market teams, league sources said.