Headlines
Source: Grizzlies Valued at $1.3-1.4 Billion in Robert Pera Deal
Robert Pera’s deal to retain control of the Memphis Grizzlies under the terms of an unusual buy-sell clause values the team between $1.3 billion and $1.4 billion, a big price tag for a small-market team that has been among the league’s largest revenue-sharing recipients, sources familiar with the process told ESPN.
To buy the Grizzlies in 2012, Pera teamed with two large minority partners — Steve Kaplan and Daniel E. Straus, who owned in the neighborhood of 30 percent of the Grizzlies combined, sources told ESPN.
Source: Zach Lowe of ESPN
For now, Minnesota’s talks with teams around the NBA are mostly dormant, league sources told The Athletic. The Miami Heat have long been the most aggressive team pursuing Butler, having advantages with a young, promising wing in Josh Richardson, being a team not in Minnesota’s conference and holding other assets to add in a package. Yet days before their own season opener Wednesday, Miami president Pat Riley informed his locker room that the team would stick with the current roster to start the season in a show of loyalty the organization has for their current players, league sources said.
Source: Shams Charania of The Athletic
In another rare confirmation of Miami Heat trade negotiations, a team spokesman confirmed shortly before Thursday night’s game that Heat President Pat Riley recently told the team’s players he was “pulling the plug” on trade negotiations regarding disgruntled Minnesota Timberwolves guard Jimmy Butler.
Amid growing speculation of specific Heat players being offered for Butler, Riley, during a recent practice session, lined up the team’s players on the practice court at AmericanAirlines Arena and told them he was standing by them.
Riley, however, did not state that a trade was categorically off the table.
The NBA G League today announced a Select Contract as part of a comprehensive professional path that will be available, beginning with the 2019-20 season, to elite prospects who are eligible to play in the NBA G League but not yet eligible for the NBA. The contracts, which will include robust programmatic opportunities for development, are for elite players who are at least 18 years old and will pay $125,000 for the five-month season.
“Select Contracts are an answer to the basketball community’s call for additional development options for elite players before they are eligible for the NBA,” said NBA G League President Malcolm Turner. “The supporting infrastructure surrounding these newly-created Select Contracts is designed to provide a rich offering of basketball and life skills developmental tools for top young players to grow along their professional paths from high school to the pros.”
Source: NBA
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