|Irish Coffee: Celtics less valuable than Lakers||01.27.11 at 12:10 pm ET|
Wake up with the Celtics and your daily dose of Irish Coffee …
According to Forbes Magazine’s latest valuations of all 30 NBA franchises, 17 teams hemorrhaged money over the last year — the highest number since the 1998-99 lockout — despite the fact that 24 of those 30 clubs generated at least $100 million in revenue.
Based on the numbers, the Celtics are the fourth most valuable franchise in the NBA. They generated $151 million in revenue while the franchise’s value rose 5 percent over the past year, yet they made just $4.2 million.
When the magazine released the same figures just over a year ago, the Celtics ranked as the eighth-most valuable franchise, generating less revenue but taking home almost $9 million more in income.
Despite the state of the U.S. economy, the average value of all 30 NBA franchises rose 1 percent since the magazine’s last valuations. However, the average team’s operating income fell 22 percent — to $6.1 million — “the lowest figure since the 2002-03 season.”
In the offseason, Amar’e Stoudemire and LeBron James altered the balance of NBA financial power. The Knicks’ worth increased 12 percent, dethroning the Lakers as the league’s most valuable franchise. Meanwhile, the Heat’s worth rose 17 percent, while the Cavaliers’ value fell 26 percent.
Here are the top five most valuable NBA franchises:
- 1. New York Knicks ($655 million)
- 2. Los Angeles Lakers ($643 million)
- 3. Chicago Bulls ($511 million)
- 4. Boston Celtics ($452 million)
- 5. Houston Rockets ($443 million)
After noting the surprising fact that the Pistons, who haven’t been able to find a proper suitor, are valued 13th, here are the five least valuable NBA franchises:
|Ricky Rubio reportedly has interest in Celtics||01.23.11 at 7:39 pm ET|
Ricky Rubio was drafted by the Timberwolves in 2009, but the Spanish guard has yet to sign a contract and come to the NBA. Rubio faces an interesting choice this summer. If he signs before June 30, his contract would be on the current rookie scale. If he waits and stays in Europe for another season he could negotiate a deal that isn’t bound by the rookie scale.
Complicating the matter further is the pending lockout, which could go into effect on June 30 once the current collective bargaining agreement ends and would muddle his options further.
But Rubio has never shown an interest in playing for Minnesota, and in a piece in The New York Times, one of his representatives is quoted as saying that Rubio would rather play for an East Coast team, citing New York, Miami and Boston as his preferred destinations.
The takeaway from Rubio’s interest isn’t that he wants to come to Boston so much as it appears that he doesn’t want to go to Minnesota. It’s not really his choice right now because Rubio doesn’t have a lot of leverage. The Timberwolves own his rights, regardless of how long it takes for him to sign a contract. Even if he did want to play for the Celtics, they are already set at point guard with Rajon Rondo, who is in the first year of a five-year, $65 million contract.
While it is interesting that he has Boston on his list, the specter of a work stoppage and a new collective bargaining agreement makes any future plans impossible to predict. That’s one of the reasons the Celtics went all-in for this season. Their future is an open question as the only players signed beyond next season are Rondo and Paul Pierce. (Rookies Avery Bradley, Semih Erden and Luke Harangody also are more or less bound to the team.)
|Report: Rubio to sign with Barcelona||08.26.09 at 11:50 am ET|
Two months after being drafted by the Minnesota Timberwolves with the fifth pick in the NBA Draft, Ricky Rubio finally knows where he is playing basketball next season.
The DKV Joventut guard will sign a six-year contract with FC Barcelona, according to Marca.com (via HoopsHype). According to the report, Rubio’s buyout to play for Regal Barcelona will be a record-breaking 3.7 million euros, the largest in European basketball history.
This doesn’t mean Rubio will spend his entire career in Europe. The report notes that his contract will also have an opt-out clause which would allow him to leave for the NBA. The buyout would decrease after every season and would reportedly be low enough for Rubio to enter the pros in the Summer of 2011.
Rubio garnered attention as one of the most highly touted players in this year’s draft. However the complications of his buyout and questions surrounding his NBA-readiness raised eyebrows around the league.
“I don’t see Rubio being that dynamic player now,” Celtics GM Danny Ainge said on WEEI’s Dennis & Callahan Show earlier this summer. “I think he’s got a lot of potential. He’s a very flashy player. He has a great mind for the game, and he’s a terrific passer. I don’t see him, just physically, and because he doesn’t shoot the ball very well, I don’t see him having an impact as a rookie. I think he’s more of a project – a build-around franchise point guard – so I would put him down there below those other guys.”
Rubio turns 19 in October.
UPDATE: The Timberwolves issued the following statement from General Manager David Kahn on their site: “Based on the information I have attained today, no team in any league has reached a deal with DKV Joventut concerning Ricky’s buyout, which must be accomplished before Ricky is released from his contract with DKV Joventut.”
|Rubio to stay in Spain?||06.25.09 at 11:50 pm ET|
Leading up the Draft Night there was chatter of Ricky Rubio’s preference to play in a big market. Minnesota certainly isn’t one, and now the flashy point guard may return to Spain.
Rubio’s father, Esteve, told the MARCA.com in Spanish, “With this pick, it is possible that Ricky will play a year or two more in Europe.”
He added, “He can still go, he can stay a year … and until two. Everything is open, although the most probable is continuing in Europe for some time. We have to talk with the people in Minnesota … and to see what happens, because, at this time, we can be in Minnesota or in another place.”
The Timberwolves selected Rubio with the fifth overall pick in Thursday’s draft. They took another point guard, Jonny Flynn, with the following pick.
Rubio noted on his Twitter page, “Ser el #5 del draft es increíble. ¡Estoy muy contento! Be the 5th pick in the NBA draft is incredible. ¡I’m very happy!”
|Report: Celtics expressed interest in second pick||06.09.09 at 11:58 am ET|
The Memphis Commercial Appeal has reported the Boston Celtics have expressed interest in acquiring the second pick in the 2009 NBA Draft from the Memphis Grizzlies. No word on what, if anything, had been offered in exchange. The Houston Rockets and New York Knicks have also approached the Grizzlies regarding the pick, according to the report.
Spanish guard Ricky Rubio is the projected second pick behind Oklahoma forward Blake Griffin. Once the Grizzlies drew their pick in the Draft Lottery, buzz began surrounding Rubio’s disinterest in playing in Memphis. However Grizzlies GM Chris Wallace met with Rubio’s agent, Dan Fegan, and had a “cordial meeting,” according to the Commercial Appeal.
Rubio is not the guaranteed second pick, though. To start, the Grizzlies already have a young point guard in Mike Conley Jr. and have not committed to drafting Rubio. Secondly, Rubio still has to pay a multi-million dollar buyout from DVK Joventut before he plays anywhere in the NBA. And there are still other attractive prospects out there. According to several mock drafts, center Hasheem Thabeet (UConn), guard James Harden (Arizona State), and forward Jordan Hill (Arizona) round out the top five projected picks.
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