This has long been Magic's M.O. he takes on jobs, then when he realizes that they involve heavy time commitments and work beyond the stuff he enjoys (gladhanding, schmoozing, etc.) he quits.
So, he needed more aids?
Really??Nah, the ones he had needed to be more committed to the job. Full-blown aids, if you will.
Unless Boston can find a way to get that Space Jam reboot canceled, AD is going to be a Laker either next year or the year after.The more crummy PR to come out of Laker land the better odds AD is a Celtic.
When asked how Lakers controlling owner Jeanie Buss can turn her franchise around, agents and general managers were succinct with their answers.
“I just don’t see how they do anything going forward with Rob in place,” one agent said. “No one trusts him.”
So how does one do business with Pelinka?
“Obviously you can’t. I can’t,” an agent said. “I haven’t even done any business with him, because either I don’t have something that he wants or he just won’t respond to stuff.”
https://www.latimes.com/sports/lakers/la-sp-lakers-nba-reaction-20190410-story.htmlAnother Eastern Conference GM said an easy parallel is that Pelinka used to be Rich Paul, the agent and friend of LeBron James. Paul’s Klutch Sports agency represents several high-profile players, including Anthony Davis.
“This is how I would describe Rob Pelinka to Jeanie,” the general manager said. “He was Rich Paul when Rob had Kobe. That’s the only way to explain it to her so she can get it a little bit better.”
What could they get for the franchise in a sale, if the Clippers were worth $2 billion? Maybe $2.75 to $3 billion? More? Forbes has them at $3.7 billion but I’m not sure how many people out there will be able to bid for a number that high.Jeannie Buss and Laker ownership are doing a tremendous job making money as their team misses the playoffs, year after year. This year the team has the 27th highest payroll, at $107m. Last year they were 21st, at $103m, and the previous season they were 19th, at $94m. None of those pesky luxtax payments to cut into owner profit.
Each of the six Buss children own 11% of the team, and it was reported in 2017 that each earned $10m a year from the Lakers. Unlike the other NBA owner in LA (ha), they don't have unlimited outside billions, with their net worth is mostly from the team. Low payroll means more profit as their middling team sells out the Staples Center every game, and the local TV money pours in.
If the Buss family wants to really get the right GM to keep their pocketbooks fuller, they should hire Chris Wallace.
I think the Lakers would easily clear $3B in a sale. People will pay a big premium for that market and especially with LeBron in the fold. At some point you figure the Busses will cash out.What could they get for the franchise in a sale, if the Clippers were worth $2 billion? Maybe $2.75 to $3 billion? More? Forbes has them at $3.7 billion but I’m not sure how many people out there will be able to bid for a number that high.
Anyways, I get the cache of owning the Lakers, but wouldn’t 11% of that mountain of cash be better than $10 million per year?
Or Sam Hinkie.If the Buss family wants to really get the right GM to keep their pocketbooks fuller, they should hire Chris Wallace.
If I recall correctly the trust that Dr. Jerry set up makes selling the team somewhat complicated.What could they get for the franchise in a sale, if the Clippers were worth $2 billion? Maybe $2.75 to $3 billion? More? Forbes has them at $3.7 billion but I’m not sure how many people out there will be able to bid for a number that high.
Anyways, I get the cache of owning the Lakers, but wouldn’t 11% of that mountain of cash be better than $10 million per year?
Hey he is from the LA area; and that seems to be the main qualifier in people thinking they may have interest in being GM of the team.Or Marcellus Wallace.
Jerry Buss set aside estate taxes so the team could stay in the Buss family. The family’s interest is probably worth $2 billion, at 66% of ownership, but they’d have to cash out to get at it. They’d probably be looking at $250 m each after taxes. I’d rather have a $10-20m a year cash matchine and still own an appreciating asset.I think the Lakers would easily clear $3B in a sale. People will pay a big premium for that market and especially with LeBron in the fold. At some point you figure the Busses will cash out.
Pride only hurts. It never helps.Hey he is from the LA area; and that seems to be the main qualifier in people thinking they may have interest in being GM of the team.
If Forbes has them at $3.7B then they could probably get $4-5B in a sale. Every team that sells goes at a premium over the Forbes valuation since franchises never come available and the buyer pool is willing to pay a premium over whatever the cash flow would suggest the team is worth. The only potential obstacle would be finding a buyer that has the necessary capital to purchase them at that type of number.What could they get for the franchise in a sale, if the Clippers were worth $2 billion? Maybe $2.75 to $3 billion? More? Forbes has them at $3.7 billion but I’m not sure how many people out there will be able to bid for a number that high.
Anyways, I get the cache of owning the Lakers, but wouldn’t 11% of that mountain of cash be better than $10 million per year?
I suspect that were the Lakers to be made available, there would be no shortage of buyers. Hollywood is an obvious source of demand - if you count in tech money as well as overseas buyers, the potential market is probably huge. And its obviously not limited to individuals - buyers groups as well as corporate entities might have interest as well.If Forbes has them at $3.7B then they could probably get $4-5B in a sale. Every team that sells goes at a premium over the Forbes valuation since franchises never come available and the buyer pool is willing to pay a premium over whatever the cash flow would suggest the team is worth. The only potential obstacle would be finding a buyer that has the necessary capital to purchase them at that type of number.
In context, perhaps that's funny. But without context?South Park reference...
I think he just finished getting medieval on some guy named Zed.Hey he is from the LA area; and that seems to be the main qualifier in people thinking they may have interest in being GM of the team.
Incredible.Adrian Wojnarowski @wojespn 1m1 minute ago
Ty Lue is a strong frontrunner for the Lakers coaching job, league sources tell ESPN.
Wouldn’t having his contract voided potentially be good for Lonzo given all the cap space this year?Monty Williams would be a decent hire.
Behind a paywall so I won't link, but Shams has a Lakers article on the Athletic about Magic and drops the tidbit that Lonzo's business guy (the one he's now suing) and father set up surgery for him with a doctor in Ohio in February and nobody told the Lakers, they found out and between Magic, Pelinka and Lonzo's agent managed to get him back to LA before the surgery (in part by letting him know it would let them void his contract).
Edit- post above came in as I was typing
maybe? Hard to say since he'd be coming off ankle surgery. Also, voidable is the key, so they could wait, see if his ankle was fucked, then cut him loose, in which case he'd be screwed because he'd lose all the injury guaranteed money and how big a contract would he get in camp with a chronic ankle injury bad enough that the Lakers cut him looseWouldn’t having his contract voided potentially be good for Lonzo given all the cap space this year?
Gonna really draw in those big free agents.Adrian Wojnarowski @wojespn 1m1 minute ago
Ty Lue is a strong frontrunner for the Lakers coaching job, league sources tell ESPN.
Just hook this stuff straight into my laker hating veins.Monty Williams would be a decent hire.
Behind a paywall so I won't link, but Shams has a Lakers article on the Athletic about Magic and drops the tidbit that Lonzo's business guy (the one he's now suing) and father set up surgery for him with a doctor in Ohio in February and nobody told the Lakers, they found out and between Magic, Pelinka and Lonzo's agent managed to get him back to LA before the surgery (in part by letting him know it would let them void his contract).
Edit- post above came in as I was typing
Luke Walton, you lucky dog.
In finally getting dumped Friday by the Lakers, their former head coach made his escape like a man staggering up the embankment from a ditch occupied by the twisted metal of steaming wreckage.
Walton gets to walk away from a basketball operation being run by the “backstabbing and whispering” of the widely unpopular and generally unsuccessful Rob Pelinka.
Walton gets to depart a basketball team being run, occasionally, when he feels like it, by distracted Hollywood mogul LeBron James.
Walton gets to separate himself from a franchise being run by a formerly beloved owner who has presided over the sort of off-court drama that has turned the Lakers into the New York Knicks. Nobody, but nobody, has been more disillusioning in this mess than Jeanie Buss.
“I want to thank Jeanie Buss and the Buss family for giving me the opportunity to coach the Lakers,’’ Walton said in a statement. “This franchise and the city will always be special to me and my family.’’
Don’t be surprised if there was a third quote omitted from the press release, something along the lines of, “Yippee!’’
...
All joking aside, the truth is a sad one. A Lakers coach gets pushed out and he’s the lucky one.
Holy shit. I want this for Christmas. I won't ask for anything else.Do you know what would make this story even better? The Lakers hiring Pitino.
Because Bill Simmons pulled that out of his ass while also erroneously claiming that Myers is from LA?Myers, in particular, seems to be a real possibility.
Little late on this but because you seem interested, it appears that terms of Trust prohibit any of the Buss kids from selling their individual shares. It has to be all (4 out of 6 required to approve) or nothing.Jerry Buss set aside estate taxes so the team could stay in the Buss family. The family’s interest is probably worth $2 billion, at 66% of ownership, but they’d have to cash out to get at it. They’d probably be looking at $250 m each after taxes. I’d rather have a $10-20m a year cash matchine and still own an appreciating asset.
I’m sure if a family member wanted to move their 11 percent for $250-330m, there would be takers.
All the more reason for them to not pay luxtax and generate fatter incomes each season. The Buss kids are the low income tenants at the Staples Center, with the Clippers owner Steve Ballmer's $46 billion net worth probably ten times that of the Buss kids combined. Ballmer is the wealthiest owner of any US team in any sport, by at least double, and is the 21st richest person in the world. The Clippers are ascending, while the Lakers are stuck in lottoland.Little late on this but because you seem interested, it appears that terms of Trust prohibit any of the Buss kids from selling their individual shares. It has to be all (4 out of 6 required to approve) or nothing.
http://www.frazierlawhouston.com/blog/2013/02/jerry-buss-visionary-estate-plan.shtml
Also, ANG (which owns 27%) has right of first offer so that would presumably act as a drag on the market price.
Do you have an extra "not" in there?Not only are they interviewing Kidd, but it looks Kurt Rambis has ascended to no. 2 decision maker in that organization. Not exactly going out on a limb here, but I doubt this team is not going to fix their problems this summer.