By John Schuhmann, NBA.com
Posted Oct 22 2009 10:53AM
In the space of a day, the fortunes of the New Jersey Nets changed dramatically.
With an agreement for Russian oligarch Mikhail Prokhorov to purchase controlling interest of the team, the Nets have gone from the franchise with the biggest debt in the league to the franchise with the richest owner (or second richest, depending on how Paul Allen’s investments are doing these days).
With Prokhorov in charge, close to $30 million in cap space (and perhaps the Barclays Center under construction), New Jersey’s future should be brighter. The young core needs another star, and the Nets should have the means to bring one (or two) to Brooklyn
September 18, 2009. (AP) UPPER MARLBORO, Md. — Cleveland Cavaliers guard Delonte West was arrested Thursday after officers pulled him over for speeding on a motorcycle while carrying two loaded handguns and a loaded shotgun in a guitar case. Prince George’s County police spokeswoman Sgt. Michelle Reedy said Friday the Cleveland Cavaliers player was arrested about 10 p.m. Thursday.
Brian Windhorst of the Plain Dealer wrote,
“With that in mind, here’s something else: ESPN obtained a memo this week that the league office distributed to all teams, which warned that the salary cap next summer may decrease between $4 million and $7 million. Of the most interest is the New York Knicks. It had been Knicks’ dream to sign two max players next summer and they began a two-year implosion process on their roster in 2008 to try to get that cap space.
The cap rules and the Knicks’ current salary commitments make it appear that it will be nearly impossible to sign two max players. A major part of the Knicks’ strategy is to lure James by signing another megastar to play with him.
All of this comes with the caveat that the NBA, like most things in the business world, is fluid. But the spreadsheets continue to indicate James’ will remain a Cav for the foreseeable future.“
Sept 3, 2009
Tom Withers, AP: “The Cavaliers offered [LeBron] James a contract extension on July 18. James, who can become a free agent after next season, also holds a one-year player option he can exercise anytime before June 30, 2010. He has options, and he’ll use them. The Cavaliers will always be able to offer James more money than other teams, but his endorsement deals minimize that as an advantage for Cleveland. Over the past few years, owner Dan Gilbert has invested millions to keep his icon happy. The team built a dazzling practice facility near his house, and this summer Cleveland added O’Neal, free agents Anthony Parker(notes), Leon Power(notes) and Jamario Moon(notes) and re-signed Anderson Viejo(notes). James has more reasons to stay than ever. He holds all the cards. He’s not showing them. ‘I’m excited about the upcoming season and I have never given any indication that I’m leaving Cleveland,’ he said. ‘I’ve been happy with what the franchise has done for me and my family. It’s been great. Hopefully everything goes right and hopefully I can sign a big contract to stay in Cleveland.’ Might he sign a smaller one to stay? ‘That’s possible,’ he said. ‘We’ll see.’”
