Nets coach Avery Johnson said that he “believes there will be ‘a shifting’ of responsibilities as far as the Nets’ ownership” because of Owner Mikhail Prokhorov’s “political aspirations in Russia.” But Johnson said that Prokhorov “remains as committed as ever to the Nets.” Johnson: “I don’t want to set off a fire alarm or anything, but I’m almost sure there will be a shifting the deeper he gets in this deal. But I think the way we’re set up as an organization, and all of the different moving parts that we have, and everybody understanding their role, I think we’ll be fine” (Newark STAR-LEDGER, 9/14).
INVESTMENT OPTIONS: In Toronto, Doug Smith reports under an NBA mandate, the Raptors are “offering two different repayment plans after they get money for 2011-12 season tickets.” The first guarantees a 5% annual return “on an unused balance of season-ticket money, provided the total amount for the season is paid up front.” The second, a “monthly refund, pays back money owed each month with” a 1% return. Smith writes a “wise idea might be for season-ticket holders to pay up and reap the benefits eventually.” The Investors Group financial consultant Mark Toole said, “If a ticket-holder plans to put their refund back into a bank account for the short term, a 5 per cent interest rate is hard to beat in this current low-interest environment. They might be able to find a savings account or one-year GIC (guaranteed investment certificate) that yields around 2 per cent, but there aren’t any other short-term options out there that will guarantee you much more than that” (TORONTO STAR, 9/14).
OWNER'S BOX: In L.A., Wharton & Pugmire profiled prospective Hawks Owner Alex Meruelo, noting the 48-year-old entrepreneur’s deal to buy the NBA team “would make him the first Latino owner in league history.” His timing “adds to an air of mystery surrounding this Southern California millionaire who for three decades has avoided attention.” Meruelo “made his fortune buying in down markets and taking chances, amassing a chain of pizzerias and a network of real estate holdings, a television station and a casino.” He has “landed in civil court at least two dozen times over the years,” but has “gone about his business in relative anonymity” (L.A. TIMES, 9/12).
