In Detroit, Vince Ellis reports Tom Gores and "not Platinum Equity, the private equity fund founded by Gores," will be the next Pistons owner. Gores' deal with current Pistons Owner Karen Davidson “does include a minority investment from one of Platinum's private equity funds -- along with financing from Comerica -- but Gores is putting up the majority of the capital and will be the owner.” The NBA “insists on a single owner who controls the team, and that will be Gores.” The financing structure of the deal was the “one thing the league vetted to make sure Gores and Platinum wouldn't seek to flip the franchise in five years if things were going better” (DETROIT FREE PRESS, 4/15). Also in Detroit, Vincent Goodwill notes though the NBA BOG expects to approve Gores' acquisition “before June 30, it appears May 30 is a more realistic deadline for Gores” (DETROIT NEWS, 4/15).
RETURN TO FORM: In San Jose, Marcus Thompson II notes the Warriors extending GM Larry Riley’s contract and hiring Wasserman Media Group agent Bob Myers as Assistant GM “not only hints at the out-of-the-box thinking” the new ownership under Joe Lacob and Peter Guber “has been trumpeting, but also that Lacob has reinstated the power structure that existed under Chris Mullin, Riley’s predecessor as head basketball honcho.” Riley’s retention, which sources indicated “came in the form of a multiyear contract,” also “included a promotion to executive vice president of basketball operations, the title Mullin held before he was fired in May 2009” (SAN JOSE MERCURY NEWS, 4/15).
DRAFT PREPARATIONS: SI.com's Sam Amick cited sources as saying that the Nets, Rockets and Knicks will partner to “host a workout for approximately 40 prospects on May 7 and 8 that could significantly impact the draft landscape.” The workout “will serve as a solution to the problems created by the NCAA’s May 8 deadline by which underclassmen must withdraw to retain eligibility.” With the NBA’s early-entrant deadline April 24, teams are “faced with a limited amount of time to evaluate underclassmen that might be available” for the June 23 Draft (SI.com, 4/14).
THREE-YEAR PLAN: In Memphis, Ronald Tillery noted Grizzlies Owner Michael Heisley in '08 said that the franchise “would be a playoff team by 2011.” Heisley “called it a ‘three-year plan’ to become competitive -- and now the much-discussed, oft-mocked prediction has come true.” Heisley said, "When you've got a broken business, you've got to be realistic. You're not going to fix it in six months or a year. You have to pick enough time. Generally speaking, when we take over a company, if we haven't shown great progress in three years, then we look at it and decide to do something else." He added, "If you make a lot of decisions, you don't have to worry about making a bad decision. Because if it's bad you just make another one and make it good. But if you're scared to make decisions, you're paralyzed” (Memphis COMMERCIAL APPEAL, 4/14).
TURNOVER COMPLETE? In Minneapolis, Patrick Reusse noted T'Wolves President of Basketball Operations David Kahn held a news conference on Wednesday at Target Center to cap the team’s 17-65 season. Kahn said, “I think the feeling around the league -- putting aside the customer base, the fan base -- is that this is a team on the come.” He added, “We’re done turning over. … We no doubt have a lot of fine-tuning to do this summer, but I don’t want to mistake fine-tuning with an overhaul. We’re done with that.” Reusse noted it was “clear Wednesday that a major element of the tuneup will be the departure of coach Kurt Rambis” (Minneapolis STAR TRIBUNE, 4/14).
