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Tag:Larry Ellison
Posted on: March 11, 2011 3:02 pm
 

Hornets to San Jose talk picks up again

Could the Hornets wind up in San Jose? Could the Warriors help the Kings stay in Sacramento? The complex web of NBA ownership and relocation continues. 
Posted by Matt Moore

While Kings fans wait with fearful baited breath for the likely upcoming announcement of the King's application for relocation, the Hornets have settled into peaceful quiet after the uproar of the NBA's acquisition of their ownership last fall.  But the San Jose Mercury News reports that it's possible that Larry Ellison, who has reportedly made multiple bids for both the Warriors and Hornets, who may make yet another push to purchase the Hornets, and in the event of doing so, relocate them to San Jose, California. From the Mercury News


But the prospect of Ellison buying a struggling franchise and moving it to HP Pavilion is real enough to have spawned interested conversation at very high levels.

And if things break a certain way over the next year or two, this theoretically could happen in a relative snap -- and a flood of Ellison money.

The NBA/San Jose advantages: Ellison's billions, the handful of teams in financial distress, and the existence of HP Pavilion, which is NBA-ready.

In January, Ellison, one of the richest men in the world, confirmed that he bid on the New Orleans Hornets, but the league chose to take the team over at that time and said it was seeking local ownership.

On Thursday, a spokeswoman for Ellison had no comment on the matter.

But it's probably safe to assume the NBA will wait until after this summer's labor negotiations, then put the Hornets back up for sale.

In that scenario, would anybody expect Ellison quietly to end his efforts to own a sports franchise after he was surprisingly outbid for the Warriors last July?
via Kawakami: Larry Ellison buying and moving New Orleans Hornets to San Jose plausible and possible - San Jose Mercury News.

Kawakami goes on to say that the league considers such a move hypothetical, but all the elements are there. A ready arena, aggressive ownership, and a franchise which if local ownership does not step up to acquire it, will be put on the open market. The other NBA owners who are in possession of the Hornets won't allow the NBA to throw good money after bad. And in that case, Ellison looks very attractive. 

Additionally intriguing is a scenario mentioned by Kawakami in which Warriors ownership votes against approving relocation for the Kings to Anaheim, in an attempt to set a precedent against relocation in order to protect their market from a prospective competitor in San Jose.  Along with the Lakers and Clippers ownership looking to protect their market against the Kings staking a claim in southern California, and a group of smaller market owners, that might set up the possibility for the Kings to be stranded in Sacramento, buying time for local officials to come up with a new arena plan. It's a complicated scenario of big and small market politics, but one that definitely seems plausible from where we're at. 

Could Ellison's interest in the Hornets be what keeps the Kings in Sacramento? This whole situation continues to get stranger and stranger by the second as NBA ownership finances take a bigger role on the public stage. 
Posted on: January 28, 2011 9:12 am
 

Shootaround 1.28.11: Desperately wanting

Grizz searching for White Chocolate, Suns looking to keep Nash in the Valley, and Wade joshing about Phil. All this and more in today's Shootaround. 
Posted by Matt Moore

The Grizzlies are in a rush to try and sign Jason Williams, because they really think he can help the team win. Because they're the Grizzlies. 

Robert Sarver doesn't see the Suns making another trade before the deadline, and definitely doesn't see them trading Steve Nash. Which is a bummer because you'd love to see Nash on a contender rather than feeding Vince Carter in a first round exit at best. 

Deron Williams will have an MRI on his wrist Friday, after hearing it "pop" Wednesday. The word you're looking for is "Yikes."

Dwyane Wade jokes that Phil Jackson just wants to coach the Heat and that's why he's talking up retirement

Were the Cavs close to trading Anderson Varejao to the Thunder before his knee injury?

Well, you can't really blame the Cavs for looking at all options since they're on pace to make history in terms of a downturn year to year. 

Charles Barkley says that the Knicks can never win with Mike D'Antoni's system, which is a popular sentiment. Anything that doesn't prioritize defense and rebounding is going to get shredded by traditional pundits. It would take an overload of talent for the Knicks to get to the promised land with that system, but considering how much matchups rule the NBA playoffs, it's probably a stretch to say they'll never win.  It would take a rare set of circumstances, though.

Julian Wright has to keep shooting, apparently. File under "signs that your team is trouble if you're talking about this."

Tiago Splitter in a cowboy hat. Yee-haw.

Could Larry Ellison be targeting the Kings next? If so, you can kiss Sacramento goodbye. 
Posted on: January 6, 2011 11:10 am
Edited on: January 6, 2011 2:18 pm
 

Larry Ellison tried to buy the Hornets

Posted by Royce Young

You know how the NBA bought the New Orleans Hornets? Well I just assumed that was because there wasn't another buyer out there after Gary Chouest backed off. But really, it was because there wasn't the right buyer.

Larry Eillison told the San Jose Mercury that he put in a $350 million bid to buy the Hornets, but was rebuffed and outbid by the league. David Stern said the league paid "a little over $300 million" for the Hornets.

Eillison, who is a billionaire by way of his company Oracle, also tried to purchase the Golden State Warriors over the summer but didn't win that bid either. Ellison is the world's sixth richest person.

Probably one reason the league "outbid" or just said no to Elllison is that he was in no way committed to keeping the team in New Orleans. He was definitely buying with the intention to move, something the league is not looking at doing at the current moment. So the fact that there was a buyer available but the league pushed him away bodes well for the future of professional basketball in New Orleans.

At least for now. When the NBA starts dropping major money on the franchise and things get too tough to operate, I'm sure they'll be fine selling the team to whoever as long as the buyer's got a big checkbook.

Eillison told the Mercury News in regards to him buying the Hornets, ""I was trying to buy the team first, and then figure out what I was going to do with it." He didn't necessarily have plans to move the team to San Jose, where he currently resides.

Forbes blogger Mike Ozanian said a source suggested Ellison is interested in buying the Hornets for about $300 million and then pay the Warriors an additional $150 million for the legal right to operate a second NBA franchise in the Bay Area. Ellison said those reports were not true.

It's interesting nonetheless that a buyer was at least there. All indications made were that the NBA really didn't have an option outside of Chouest when George Shinn committed to selling. But evidently there was. It's just the prospective owner didn't have the plan in mind the NBA wants. Kind of a conflict of interest, wouldn't you say?
 
 
 
 
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