Earlier this week, LeBron James reappeared for the first time since agreeing to his three-year, $100 million deal with the Cleveland Cavaliers to guest-star on Uninterrupted’s “Open Run” podcast and talk about a number of things, including what he sees for his life after basketball.
In that interview, James admitted that when he does retire from the game – likely at some point over the course of the next decade – he’d like to look into at least partial ownership of an NBA team.
“I would love to be a part of a franchise, if not at the top,” James said. “My dream is to actually own a team.”
There won’t be much stopping him, as James is the most prodigious active earner both in terms of annual salary and endorsement contracts, and while he likely never will be able to piece together the $3+ billion he’ll need to buy a team all on his own 10 years from now, he’s got more than enough to buy into a minority stake. Frankly, there aren’t many teams that wouldn’t love to have him as a figurehead of the franchise, and his desire to move into an ownership position is far from unprecedented.
The following are a list of players who have bought teams (or parts of teams, rather) in the years following their retirements. Seeing an NBA player actually own a piece of an NBA team is rare, but plenty of big-name stars have bought franchises in a number of different sports:
LeBron James, Liverpool FC – James may truly long for a piece of NBA ownership somewhere down the road, but his active status as an NBA player hasn’t stopped him from getting into sports team ownership in other arenas. He already owns a small stake of Liverpool FC, one of the most popular soccer clubs in the Champions League.
In April of 2011, James teamed up with Fenway Sports Group, which also owns the Boston Red Sox, after they had purchased the team for $488 million in October of 2010. James got his mitts on a minority stake in the FC, marking the first time that a professional athlete in his prime invested in a sports franchise with the popularity and breadth of Liverpool. He remains a minority owner to this day and is doing quite well with his investment. Getting a stake in an NBA team would only broaden his horizons as a business mogul.
Michael Jordan, Charlotte Hornets – Of course, the king of all basketball business moguls is Michael Jordan, who became majority owner of the then-Charlotte Bobcats for $275 million back in 2010. He had been a minority investor dating back to 2006, but when former owner Bob Johnson couldn’t justify bleeding tens of millions of dollars every year, he sold it to the state of North Carolina’s most famous basketball icon.
Jordan assumed $150 million in debt in the transaction, but considering the most recent Forbes valuation for the team was $750 million, it looks like His Airness already has made a rather significant return on his investment. The Hornets are the fifth-least valuable team in the league, but they’re already exponentially more valuable than they were six years ago when Jordan bought the team.
Shaquille O’Neal, Sacramento Kings – The only other former NBA player to own any part of an NBA team is O’Neal, who threw in a fair chunk of change as part of the investment group that purchased the Sacramento Kings from the Maloofs in 2013. According to Forbes, O’Neal only owns between two-to-four percent of the team. It wasn’t a huge investment, but the value of the team already has jumped from $534 million at the time of sale a few years ago to over $800 million in Forbes’ most recent estimate for the team. The math says that O’Neal has made somewhere in the neighborhood $5 million to $11 million in just a few years without having had to do much, so while some believe his ownership investment was mostly a PR stunt to help get a new arena built in Sacramento, he really has raked in a little easy cash to supplement his TV checks.
Magic Johnson, L.A. Dodgers – Arguably the most successful team owner on this list, Johnson was a major player in the group that purchased the L.A. Dodgers for a record $2.15 billion back in the spring of 2012. Magic “only” put in $50 million of that money, but he’s been a figurehead for the organization and has been vital in recruiting free agents despite his relatively meager stake in the team, which would only equate to about 2.3 percent ownership. Even still, he’s the only former NBA player to ever own any stake in a Major League Baseball team, and for him to further endear himself to the City of Los Angeles will do nothing to hurt his legacy as arguably the most beloved athlete that city has ever known.
Yao Ming, Shanghai Sharks – Occasionally, former players invest in professional teams outside of the United States, as well, which Yao proved when he seized the opportunity to play for his former pro team in China, the Shanghai Sharks. Yao actually grew up in Shanghai, so when news began to leak that a few failing seasons (both financially and on the court) might cause the organization to fold, he stepped in and rescued them from ruin. As of 2008, Yao was ranked as the wealthiest Chinese entertainer with tens of millions of dollars to his name, so purchasing the team that gave him his start as a pro probably felt like as safe an investment as anything. He still spends a lot of time with the team as a figurehead for the organization, and he’s helped bring in big names too. Gilbert Arenas, Michael Beasley, Delonte West and John Lucas III have played for Shanghai since Yao took over.
Tony Parker, ASVEL – Like Yao Ming, Tony Parker decided to become the owner of a team from his home country. Parker first bought a 20 percent stake in ASVEL back in 2009, and then he decided to suit up with the team in 2011 during the NBA lockout. This led to Parker becoming the majority shareholder in 2014 and eventually take on the role of president as well. At 34 years old, Parker is likely nearing the end of his NBA career; however, his shares and role with ASVEL ensure that he stick around the sport for many years to come even when his playing days are over.
Amar’e Stoudemire, Hapoel Jerusalem – One fun fact about Stoudemire is that he’s part Hebrew on his mother’s side, and in 2010 he took a pilgrimage to Israel to get in touch with his roots a little bit and see the extensive religious history there. He was affected enough by his experiences to team up with Ori Allon to purchase a professional basketball team in Jerusalem back in 2013, and it’s something he enjoyed quite a bit until this past summer when he retired from the NBA, sold his shares to Allon, and agreed to actually play for Hapoel Jerusalem in 2016. That means he’s not currently an owner of the team, but one gets the sense that as soon as he’s finished playing Allon will be happy to get him involved once again on the ownership side of things. The more a big name like Stoudemire is present around a small-time team like that, the better it is for business.
Steve Nash, Vancouver Whitecaps, RCD Mallorca – While Nash hasn’t shown much interest for ownership in basketball franchises, he does actually own stakes in not one but two professional soccer clubs. He started with his share of the Vancouver Whitecaps of Major League Soccer back in 2005, which came as part of a group of investors that also included Jeff Mallett, Steve Luczko and Greg Kerfoot.
Then, more recently, he and Phoenix Suns owner Robert Sarver pitched in to purchase Spanish football club Real Mellarco for a shade over $21 million. They had tried to purchase Levante a year earlier but failed, but men driven to spend their money will find a way to do so. Now Nash, a well-known die-hard soccer fan, gets to enjoy ownership of a soccer club not just in his native country but also overseas.
Jamal Mashburn, Ol Memorial Horse Stable – While it’s not quite the same as owning a sports franchise, Mashburn and former University of Kentucky coach Rick Pitino are partners in owning Ol Memorial Stable, which did at one point serve as the home of a Kentucky derby hopeful that went by the name of Buffalo Man.
Mashburn is a great example of how NBA players can have successful entrepreneurial lives after basketball. Today he owns 37 Papa John’s restaurants, 34 Outback Steakhouse restaurants, two car dealerships and a real estate company. Like everyone else on this list, he’s putting his playing checks to good use in life after hoops.
Should James someday earn a small stake in the Cavaliers or some other random franchise for sale, he’ll join the very small ranks of former NBA players that managed to eventually own an NBA team. So far, it’s just Jordan and Shaq, but there’s no reason King James couldn’t join that list as a way to enjoy his retirement.
NBA Daily: Surging HEAT Must Overcome Adversity
The Miami HEAT have been hit with a number of injuries at shooting guard. Can they stay hot?
The Miami HEAT have surged to fourth in the Eastern Conference on the back of a 14-5 stretch since Dec. 9, including a seven-game win streak that ended with Monday’s 119-111 loss to the Bulls in Chicago. In the loss, shooting guard Tyler Johnson got his legs tangled with Robin Lopez and appeared to suffer a serious injury.
“I was scared,” said HEAT small forward Josh Richardson, who joined his teammates in racing down the court to check on Johnson. “You never want to see a guy, whether it’s on your team or the other team, down like that. I talked to him when he was in here [the locker room] and he said he didn’t know what was up.”
Coach Erik Spoelstra told pool reporters after the game that X-rays were negative. It was initially feared to be a knee injury, but Spoelstra said the knee is okay and the ankle is the area of concern. Ira Winderman of the South Florida Sun-Sentinel tweeted that an MRI was not deemed necessary and Johnson will be listed as doubtful for Wednesday’s game in Milwaukee.
Tyler Johnson will be listed as doubtful for Wednesday's game against the Bucks, still with no plans for an MRI on his sprained left ankle sustained Monday in Chicago. He remains with the team, which did not practice Tuesday.
— Ira Winderman (@IraHeatBeat) January 16, 2018
Meanwhile, the HEAT is facing a serious shortage at shooting guard, having lost Dion Waiters to season-ending knee surgery, Rodney McGruder to a left tibia stress fracture that will likely keep him out until February, and now Johnson. Miami has applied for a $5.5 million disabled player exception after losing Waiters, according to the Sun-Sentinel. HEAT power forward James Johnson said the team will be looking for other players to step up.
“I think it’s the next guy’s gonna step up like we always do,” said Johnson. “As we have guys going down we also have guys getting back and getting back in their groove [like] Justise Winslow. Hopefully, it’s going to give another guy a chance to emerge on this team or in this league.”
Johnson added that the loss to Chicago came against a hot team and the HEAT didn’t have the right mental approach or defensive communication to slow them down.
“Our communication was lacking tonight,” said Johnson. “I think our brains rested tonight and that’s not like us. Tilt your hat to Chicago. They’re shooting the hell out the ball. They didn’t let us come back.”
Richardson echoed the theme of communication and the inability to counter a hot-shooting team.
“We weren’t communicating very well and we were not giving them enough static on the three-point line,” said Richardson. “They’ve been the number one three-point shooting team in the league for like 20 games now. They ran some good actions that we were not reacting right to.”
Spoelstra referred to a turnover-riddled close to the first half as “disgusting” basketball and agreed that the defense let his team down.
“I don’t know what our record is in HEAT franchise history when we give up 120-plus,” said Spoelstra. “I would guess that it’s probably not pretty good.”
The good news for Miami is that it can try a combination of Richardson and Winslow at the wings, while Wayne Ellington has been shooting the leather off the ball from three this season (40.5 percent on over seven attempts per game). The HEAT is the latest team to attempt to defy history by making a serious run without a superstar player. To make that a reality and remain in the upper half of the East’s playoff bracket, Miami will have to personify the “next man up” credo.
NBA Daily: Is It Time To Cash Out On Kemba Walker?
Should the Hornets get serious about trading Kemba Walker or risk losing him in 2019 for next to nothing?
Is It Time To Sell?
Every professional sports team at some point has to decide when its time to cash out, especially if they have a star player heading towards free agency. The Charlotte Hornets are a team teetering on this decision with star guard Kemba Walker.
Now, let’s be honest for a moment. The Hornets are getting nothing of meaningful value in a trade for Walker if they decided to put him on the trade market—that’s something that will drive part of the decision. Check out these UK sports books with free bets!
The other part of the decision is evaluating the marketplace. This is where Charlotte may have an advantage that’s easy to overlook, which is the ability to massively overpay.
Looking ahead to the cap situations for the NBA in the summer of 2019, there doesn’t appear to be a lot worth getting excited over. While it’s possible someone unexpected goes into cap clearing mode to get space, the teams that project to have space in 2019 also project to have space in 2018, meaning some of that 2019 money could get spent in July and change the landscape even more.
But for the sake of discussion, let’s assume most of the 2019 cap space teams swing and miss on anything meaningful this summer and have flexibility the following summer. Not only will Walker be a name to watch, but guys like Boston’s Kyrie Irving, Minnesota’s Jimmy Butler, Golden State’s Klay Thompson, Dallas’ Harrison Barnes, Detroit’s Tobias Harris, San Antonio’s Kawhi Leonard and Cleveland’s Kevin Love can all hit unrestricted free agency.
That’s a pretty respectable free agent class.
While most of those names will likely stay where they are, especially if their teams shower them with full max contracts as most would expect, there are a few names that might make the market interesting.
The wrinkle in all of it is the teams projected to have space. Based on what’s guaranteed today, the top of the 2019 cap space board starts with the LA Clippers.
The Clippers currently have just Blake Griffin and Danilo Gallinari under contract going into 2019. They will have qualifying offers on Milos Teodosic and Sam Dekker, but that’s about it. If the Clippers play their cards right, they could be looking at what could be close to $48 million in usable cap space, making them the biggest threat to poach a player because of the LA marketplace. It should be noted, though, that DeAndre Jordan’s situation will have an impact here.
The Chicago Bulls come in second on the 2019 cap space list with just $35.77 million in cap commitments. The problem for the Bulls is they are going to have to start paying their young guys, most notably Zach LaVine. That’s won’t stop the Bulls from getting to cap space, it’s simply a variable the Bulls have to address this summer that could get expensive.
The Philadelphia 76ers could come in third on the 2019 cap space list, although it seems the 76ers may go all in this summer on re-signing guard J.J. Redick and a swing at a big fish or two. If the 76ers miss, they still have an extension for Ben Simmons to consider, but that shouldn’t impact the ability to get to meaningful space.
For the Hornets, those three situations have to be a little scary, as all of themff something Charlotte can’t offer – big markets and rosters (save maybe the Clippers) with potentially higher upside.
The next group of cap space markets might get to real salary cap room, but its more likely they spend this summer like say the Houston Rockets or are equal to less desirable situations like Sacramento (similar), Dallas (has Dennis Smith Jr), Atlanta (similar) or Phoenix (likely drafts a point guard).
That brings us back to the Hornets decision making process.
If the Hornets put Walker on the market, historically, teams get pennies on the dollar for high-level players headed to free agency. If traded, its more likely than not that Walker hits free agency and goes shopping. That’s the scary part of trading for an expiring contract unless you get the player early enough for him to grow attached to the situation, most players explore options. That tends to drive down the potential return.
The Hornets can also start extension discussions with Walker and his camp this summer and it seems more likely than not the Hornets will pay Walker the full max allowed under the collective bargaining agreement, which could be a deal north of $150 million and he could ink that in July.
It’s possible that someone offers the Hornets the moon for Walker. That has happened in the past. The Celtics gave the Cavaliers a pretty solid return for Irving, a player the Cavaliers had to trade. So it’s not out of the question real offers come in, especially with the NBA trade deadline approaching, but what’s far more likely is the Hornets wait out this season and try to extend Walker this summer.
League sources at the G-League Showcase last week, doubted that any traction could be had on Walker while admitting he’s a name to watch, despite however unlikely a trade seemed today.
The challenge for the Hornets isn’t as simple as cashing out of Walker, not just because the return will be low, but also because where would the franchise go from here?
It’s easy to say re-build through the draft, but glance around the NBA today – how many of those rebuild through the draft situations are yielding competitive teams? How many of them have been rebuilding for five years or more?
Rebuilding through the draft is a painfully slow and frustrating process that usually costs you a coach or two and typically a new front office. Rebuilding through the draft is time consuming and usually very expensive.
It’s easier to rebuild around a star already in place and the fact that Walker himself laughs off the notion of him being anywhere but Charlotte is at least a good sign and the Hornets have some time before they have to really make a decision.
At some point, Charlotte has to decide when to cash out. For the Hornets, the time to make that decision on Walker might be the February 8 trade deadline. It might also be July 1, when they’ll know whether Walker would sign a max contract extension.
If he won’t commit then, the Hornets have their answer and can use the summer to try an extract a package similar to what the Cavaliers got for Irving.
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Cavs Woes Reason For Concern, But Not Dismissal
Spencer Davies takes a look at the Cavs’ issues and why we shouldn’t count them out just yet.
The Cleveland Cavaliers are the classic case of Dr. Jekyll and Mr. Hyde.
When they’re on, they look like the defending three-time Eastern Conference Champions. When they’re off, they look like an old team that’s worn down and, at times, disinterested—and it gets ugly.
Take this past three weeks for example. After going on a tear of 18 wins in 19 games, the Cavs have dropped eight of 11 and are falling fast. Two of those three victories in that stretch were decided by four points or less against bottom-of-the-barrel teams in the East.
So what happened? For one, the schedule got significantly tougher. Beyond just the level of competition, Cleveland has been on the road for a long while. Nine of the games in this recent down period have been away games. The only time they’ve been home was for a quick second in mid-December and a short stay for New Years.
You’ve got to think about how that affects a psyche, not only from an on-court standpoint but also in regard to spending time with loved ones and family. LeBron James brought attention to his own homesickness on Christmas Day while he was in the Bay Area instead of in Northeast Ohio to celebrate the holidays. If it gets to him, you know it’s got to get to the other players as well. These guys are human beings with lives, and the rigors of travel can wear differently on people. Luckily for them, seven of their next nine games will be at Quicken Loans Arena.
With that being said, everybody in the NBA goes through it, so it’s no excuse for how flat the Cavs have been. Anybody on the team will tell you that, too. However, when you’re figuring out rotations and re-implementing players who had injuries, it’s not easy. This is exactly why nobody should envy Tyronn Lue.
He’s being asked to make room in his rotations and adjust on the fly as Cleveland gets guys back. When they went on that month-long run, the reason they had success was that the second unit really clicked. Dwyane Wade found his niche as the maestro of the bench bunch along with any mixture of Kyle Korver, Jeff Green, Cedi Osman, Channing Frye, and Jae Crowder. Lue had found the perfect group to spell LeBron James and company.
But then, Tristan Thompson came back and, with all due respect, it messed with their flow. The spacing is no longer there for Wade or Green to penetrate because the paint is clogged. It makes it easier on opposing defenses to just stick to Korver because there aren’t any other threatening shooters on the floor (besides Osman, maybe). Worst of all, the change basically kicked Frye—who has a plus-14 net rating, according to Cleaning The Glass—out of the rotation completely.
Deciding who plays and when is a tough job. Derrick Rose is set to come back soon. Iman Shumpert is coming along as well. Lue likes a 10-man rotation, but there are at least 12 players who deserve to be on that court. We already know Rose is expected to commandeer the second unit in Wade’s absence on back-to-backs. As for if Shumpert remains in Cleveland, who knows? It’ll be interesting to keep an eye on how this situation is managed moving forward.
Isaiah Thomas, on the other hand, is somebody the Cavs have been waiting on to return since the season started. Despite LeBron being LeBron and Kevin Love having as great of an offensive year as he’s ever had on the team, the starting unit lacks an extra punch. Thomas can be that shot in the arm, and he proved that in his debut at home against Portland and on the road in Orlando. There are two snags that both he and the team are going to hit before the 29-year-old returns to his All-Star form: 1) He’s got to get his legs under him to regain the consistency in his game and 2) His teammates are going to have to adjust to playing with him.
These are not easy things to do. Remember, aside from Jae Crowder, there is nobody on Cleveland’s roster that has played with Thomas before. Add in that he’s trying to re-discover his own game and that makes for a pretty bumpy road, at least out of the gate.
Start here—put Thompson in the starting lineup. As poor of a fit he’s been on the bench, he has shown promising signs of a developing chemistry with Thomas. It’s only been four games, but he loves having a partner in the pick-and-roll game. That’s clearly where you’ll get the most production out of him and how he can thrive. He’ll provide hustle, second chance opportunities, and a semi-decent big that can at least bother some of the competition’s drives to the basket. Sliding Love over to the four might change his game a little bit, but you can still get him going in the post before giving him chances as a shooter to work him outside-in.
The resulting effect helps the second unit as well. They’ll get one of either J.R. Smith or Crowder, depending on who would be relegated there. Both of those guys can use a spark to get them going. Because of Crowder’s familiarity with Thomas, let’s say Smith gets kicked out. Maybe that gets him out of the funk he’s in? It also allows for Frye, who hasn’t seen more than 20 minutes in a game since December 4, to get re-acclimated to a group he truly helped on both ends of the floor earlier in the year.
Outside of the need to make a move at the deadline, the Cavs can figure this out. It’s understood that they’re the fourth-worst defensive team in the NBA, but they’ve gone through these kinds of ruts at this time of year, specifically since LeBron came back. There might not be statistical evidence backing up the claim of any improvement, but the track record speaks for itself.
The panic button is being hit, but pump the brakes a bit. This isn’t anything new. The pieces are a little different and things look as bad as they ever have, but in the end, the result will likely be the same.