The National Basketball Association is a business. As much as it is both a job and teams are a brotherhood for players, and as much as it is both a sport and an exciting form of entertainment for fans; for all intents and purposes, the league is a multi-billion dollar business. With league revenue reaching $5 billion, franchise valuations escalating and teams selling for anything from $550M to $2B, the proof is in the pudding. NBA athletes often talk about the bonds of
Amnesty Day: Heat waive Miller, Raptors drop Kleiza
After saying he would not use his amnesty provision, Heat president Pat Riley changed his mind and used the one-time clause on Mike Miller, saving owner Micky Arison millions in luxury tax. Tuesday was the last day for teams to waive a player via the amnesty provision, and Riley chose to let go of Miller and his $6.2 million salary. In a statement, he indicated that he tried to find a taker for Miller in a trade but was unsuccessful. “After many
Bernucca: How the Knicks Can (or Can’t) Get Metta World Peace
Metta World Peace says he wants to play for the New York Knicks, and nobody else. Yeah, and I want to sleep with supermodels. That’s likely not happening, either. The Los Angeles Lakers are going to use their amnesty provision on World Peace and do something they really don’t do very often – make a conscious decision to save money. By letting go of the hero of their last NBA championship – who also happens to be a certified wingnut – the
Bernucca: Kobe Bryant is the ideal amnesty candidate
There is a sneaky, devious way that the Los Angeles Lakers can re-sign Dwight Howard, continue to pay Kobe Bryant the NBA’s highest salary and create even more cap room for this summer and next summer. Use the amnesty provision on Bryant. Yes, Lakers GM Mitch Kupchak said in the days after Bryant tore his Achilles tendon that using the one-time provision – which 15 teams still have at their disposal – on the face of the franchise was not under consideration.
Bernucca: Small Market Dilemma is the NBA’s Big Lie
This summer, when your favorite team’s owner or GM tells you a certain player is financially out of reach, here’s how you know he is lying. His lips are moving. NBA business is booming, folks. And not just for the so-called big markets. Take a quick look at the conference finals, which feature four teams from middle to small markets collecting millions for every home playoff game. Take a look at the Sacramento Kings, who were just sold for a record $525 million
Sheridan: Why Did Mark Cuban Suggest Amnesty For Kobe?
Mark Cuban was speaking the truth when he asked whether the Los Angeles Lakers should give serious thought to using the amnesty clause on Kobe Bryant next season. Not that the Lakers would ever do it, but there is some sound financial reasoning behind Cuban’s statement. [Read more…]