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☆ Michael Jordan is selling his majority stake in the Charlotte Hornets
▼ + stars: | 2023-06-16 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Charlotte Hornets owner Michael Jordan responds to a question during a news conference at Spectrum Center in Charlotte, North Carolina, Oct. 28, 2014. Basketball legend Michael Jordan has agreed to sell his majority stake in the National Basketball Association's Charlotte Hornets to wealthy investors Gabe Plotkin and Rick Schnall, a representative for Jordan confirmed Friday. Jordan took a majority stake in the Hornets in 2010 for $275 million. Under the ownership of the six-time NBA champion Jordan, the Hornets have struggled, only making the playoffs two times. Plotkin acquired a minority stake in the Hornets in 2019 and has served as an alternate governor on the NBA Board of Governors.

Persons: Charlotte, Michael Jordan, Basketball Association's Charlotte, Gabe Plotkin, Rick Schnall, Jordan, Plotkin, Schnall, Clayton, Dan Sundheim, J, Cole, Eric Church Organizations: Charlotte Hornets, Spectrum Center, Basketball Association's, Basketball Association's Charlotte Hornets, Hornets, NBA, of Governors, Tallwoods, NBA's Atlanta Hawks, Hawks, D1, North Carolina, Hornets Sports & Entertainment, G League, Greensboro Swarm, Spectrum, Forbes Locations: Charlotte , North Carolina, Dubilier

☆ Grizzlies star Ja Morant suspended for 25 games after latest gun video
▼ + stars: | 2023-06-16 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +2 min

The National Basketball Association suspended Ja Morant for 25 games after the Memphis Grizzlies star brandished a gun on a live video for the second time, the league said Friday. Morant, a 23-year-old NBA All-Star, first waved a gun in a livestream from a night club in March, prompting an eight-game suspension. He then displayed a firearm in a car with friends during a second video stream last month. In a statement to ESPN on Friday, Morant apologized and promised he is "going to be better." Morant is endorsed by Nike and Coca-Cola 's Powerade, but the drink company has pulled an ad featuring the NBA star and scrubbed him from social media.

Persons: Ja Morant, Morant, Adam Silver, Silver Organizations: Memphis Grizzlies, Los Angeles Lakers, Western, FedExForum, National Basketball Association, NBA, ESPN, Nike, CNBC, YouTube Locations: Memphis , Tennessee

☆ NFL looks to give a boost to Black- and minority-owned banks
▼ + stars: | 2023-06-15 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +3 min

The league is borrowing $78 million from a syndicate of Black- and minority-owned banks and community development financial institutions. The loan deal will generate "tier 1 capital" for the banks and CDFIs. According to the National Black Bank Foundation, it will boost their lending power by millions through banking fees and interest. "These community banks sometimes have difficulty navigating down economic times. "These banks loan money to people and businesses that need it without being predatory.

Persons: Joe Siclare, Siclare, Ashley Bell, Martin Luther King, Bell, you'll, Dominik Mjartan Organizations: National Football League, National Black Bank Foundation, CNBC, NFL, National Basketball, Atlanta Hawks, Major League Soccer, Black, Bank of America, Silicon Valley Bank, Optus Bank Locations: Silicon, Columbia , South Carolina

CNN —A string of sports games and practices have been postponed as smoke from Canadian wildfires continues to choke the Midwest, Northeast and Southeast parts of the United States. Around 75 million people are under air quality alerts as wildfire smoke shrouds major US cities, with Major League Baseball (MLB), the Women’s National Basketball Association (WNBA) and the National Women’s Soccer League (NWSL) forced to postpone games due to concerns over dangerous air quality. Zack Wheeler of the Philadelphia Phillies warms up at Citizens Bank Park on Wednesday. Following consultation with the NWSL Medical and Operations staff, it was determined that the match could not be safely conducted based on the projected air quality index,” the NWSL said in a statement. Smoke from Canada’s fires has periodically affected the Northeast and Mid-Atlantic for more than a week, raising concerns over the harms of persistent poor air quality.

Persons: Zack Wheeler, Mitchell Leff Organizations: CNN, Major League Baseball, National Basketball Association, National Women’s Soccer League, MLB, Detroit Tigers, Philadelphia Phillies, Citizens Bank, Chicago White Sox, New York Yankees, Yankee, WNBA, New York Liberty, Minnesota Lynx, New York Racing Association, NWSL, Operations, Phillies, Tigers, Yankees, White Sox, Belmont Locations: Northeast, United States, Belmont, New York, New Jersey, Harrison, Canada, Alberta, Elmont , New York

☆ Billionaire Marc Lasry, who sold his stake in the Milwaukee Bucks, says the next "big opportunity" is in women's sports
▼ + stars: | 2023-06-07 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

The former co-owner of the NBA's Milwaukee Bucks is raising money for a sports fund. Lasry said he would like to go out and buy basketball teams in Africa and potentially Asia. "Women's soccer should go from $50 million to $500 million in the next 10 years," he said. This year, the famed distressed-debt investor agreed to sell his 25% stake in the Milwaukee Bucks basketball team. Lasry also said he would like to go out and buy basketball teams in Africa and potentially Asia.

Persons: Marc Lasry, Lasry, Aurelien Meunier, Getty Organizations: Milwaukee Bucks, Billionaire, Capital, Bloomberg Invest, National Women's Soccer League, Milwaukee Bucks basketball, National Basketball Association Locations: Africa, Asia

☆ MLB, WNBA and NWSL games postponed due to poor air quality in U.S.
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

[1/5] Jun 7, 2023; Bronx, New York, USA; Members of the Yankee Stadium grounds crew wait for word on the status of a game against the Chicago White Sox before the game was ultimately rescheduled due to poor air quality. Mandatory Credit: Brad Penner-USA TODAY SportsNEW YORK, June 7 (Reuters) - Poor air quality conditions forced the cancellation of Major League Baseball (MLB), National Women's Soccer League (NWSL) and Women's National Basketball Association (WNBA) games on Wednesday, as smoke from Canadian wildfires drifted south. MLB postponed games in Philadelphia between the Detroit Tigers and the Phillies and in New York between the Chicago White Sox at the Yankees. "These postponements were determined following conversations throughout the day with medical and weather experts and all of the impacted Clubs regarding clearly hazardous air quality conditions in both cities," MLB said in a statement. A WNBA game in Brooklyn between the Minnesota Lynx and the New York Liberty, which was set to tip off at 7 p.m.

Persons: Brad Penner, Amy Tennery, Toby Davis Organizations: Yankee, Chicago White Sox, YORK, Major League Baseball, Women's Soccer League, National Basketball Association, U.S ., MLB, Detroit Tigers, Phillies, Yankees, Washington Nationals, Arizona Diamondbacks, Gotham FC, Orlando Pride, Aviation Administration, Newark Liberty International, WNBA, Minnesota Lynx, New York Liberty, Thomson Locations: Bronx , New York, USA, U.S, U.S . East Coast, Ohio, Kansas, Philadelphia, New York, Harrison , New Jersey, Brooklyn

☆ Billionaire Marc Lasry, who sold his stake in the Milwaukee Bucks, sees pickleball offering a better return than investment in the NBA
▼ + stars: | 2023-05-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Marc Lasry said his investments in pickleball and other upstart sports leagues could offer a higher return than those in NBA teams. The co-founder of Avenue Capital Group bought a pickleball team with tennis star James Blake for $100,000 in 2021. He told Bloomberg TV that the team is now worth $10 million. The co-founder of Avenue Capital Group told Bloomberg Television he believes his investments in pickleball and other upstart sports leagues could offer a higher return than those in NBA teams. This year, the 63-year-old investor agreed to sell his 25% stake in the Milwaukee Bucks basketball team.

☆ Aces lose 2025 first-round pick, Hammon suspended for WNBA rule violations
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - The Women's National Basketball Association (WNBA) stripped defending champions Las Vegas Aces of their 2025 first-round draft pick and suspended head coach Becky Hammon for two games without pay for violating league rules on Tuesday. Hammon, who took the reins last year after eight years as an assistant coach with the NBA's San Antonio Spurs, was found to have committed a "Respect in the Workplace" violation with comments regarding Hamby's recent pregnancy. The investigation, however, was not able to substantiate concerns over the Aces' conduct during the off-season. The Next reported in February that The Aces were under investigation by the WNBA for circumventing the salary cap. "The Aces failed to adhere to league rules and regulations and have been disciplined accordingly.

☆ Griner plays in WNBA for first time since Russia detention
▼ + stars: | 2023-05-13 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

"I didn't think I would be sitting here. I didn't think I would be playing basketball this quickly," Griner told reporters after the Sparks handed them a 90-71 loss. Griner was greeted to roars of celebration at Phoenix's Footprint Center on Friday as she exited the tunnel and strode onto the court. "I didn't feel like I was gassed or dying," said Griner, who offered a withering self-appraisal of her defensive performance. The two-time WNBA scoring champion has been subject to enormous media interest since her return to the United States, using her super-sized platform to champion the cause of other Americans detained abroad.

☆ Toronto rolls out welcome mat for WNBA's first Canada game
▼ + stars: | 2023-05-13 | by ( Frank Pingue | ) www.reuters.com time to read: +3 min

TORONTO, May 13 (Reuters) - The Women's National Basketball Association (WNBA) held a game in Canada for the first time on Saturday in what amounted to a celebration of women's basketball while perhaps planting the seeds for an expansion franchise. The sold-out pre-season game played at the home of the NBA's Toronto Raptors offered the latest sign that there is a growing appetite in Canada's biggest city and financial capital for professional women's basketball. The game aired live on three networks across Canada and the United States, featured an all-women, all-Canadian team for the broadcast and prompted the city to proclaim May 13 as "Welcome WNBA Day" to mark the occasion. "So Toronto is definitely on the list, but we'll continue to work on that through the season and hopefully have something to announce later." Reporting by Frank Pingue in Toronto, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ US bankruptcy judge blocks NBA team Phoenix Suns' new TV deal
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

NEW YORK, May 10 (Reuters) - A U.S. bankruptcy judge on Wednesday blocked the NBA's Phoenix Suns from moving ahead with a television and streaming rights deal for its basketball games, saying the team violated the rights of its current broadcast partner, the bankrupt Diamond Sports Group. The Phoenix Suns last month announced they would broadcast future games to television and online streaming through a partnership with Gray Television Inc (GTN.N) and video technology startup Kiswe. The Suns' attorneys argued that its TV deal with Diamond expired with the end of the 2022-2023 regular season, and that the new deal would not interfere with Diamond's rights under its existing contract. "The Suns are saying one thing outside the court and another thing inside it," Lopez said. Financial terms of the Phoenix Suns' contracts with Diamond Sports and with Gray TV were kept sealed in bankruptcy court.

☆ Embiid hopes 'improbable' path to MVP will inspire
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

May 3 (Reuters) - National Basketball Association (NBA) MVP Joel Embiid hopes to be a role model of perseverance after overcoming extraordinary odds, the Philadelphia 76ers center said on Wednesday. "I felt like it was kind of my fault because I left Cameroon, I left, you know, my family. I felt like I should have been there to do something," said Embiid, who missed the first two seasons of his career with a broken foot. Embiid, who came second in MVP voting to Denver Nuggets center Nikola Jokic in the last two seasons, produced an undeniable MVP campaign this time around, averaging a career-high 33.1 points per game, with 10.2 rebounds and 4.2 assists. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Andrew KellyNEW YORK, May 1 (Reuters) - American basketball star Brittney Griner stepped onto the red carpet at the star-studded Met Gala on Monday, embracing a larger spotlight months after returning home from detention in a Russian penal colony. The twice Olympic champion has pledged to advocate for the release of other Americans detained abroad after she was freed from Russia in a high-profile prisoner exchange after nearly 10 months of detention. "I was able to come home," Griner told Vogue at the gala. "It is everything, to be here with my wife able to be here it means so much," Griner said. Twenty-times Grand Slam winner Roger Federer served as a co-chair of the event while China's twice Olympic champion freestyle skier Eileen Gu was also in attendance.

☆ NBA's Phoenix Suns sign new TV deal after broadcaster bankruptcy
▼ + stars: | 2023-04-28 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

[1/2] Apr 18, 2023; Phoenix, Arizona, USA; Phoenix Suns forward Kevin Durant (35) with guard Devin Booker (1) against the Los Angeles Clippers during game two of the 2023 NBA playoffs at Footprint Center. Mandatory Credit: Mark J. Rebilas-USA TODAY SportsApril 28 (Reuters) - The NBA's Phoenix Suns and WNBA's Phoenix Mercury announced a new television and streaming rights deal for their basketball games on Friday, over the objection of the bankrupt U.S. sports broadcaster that currently televises Suns regular-season games. "Cord cutters, cable subscribers, fans with an antenna – everyone will be able to watch Suns and Mercury games," Ishbia said in a statement. The Phoenix Suns current television broadcast partner Diamond Sports Group said it would oppose the deal. The Suns and Mercury did not disclose financial terms of the new broadcast deal or the terms of the current Diamond Sports contract.

☆ Charles Barkley and Gayle King’s New CNN Show Won’t Be Political, Hosts Say
▼ + stars: | 2023-04-22 | by ( Isabella Simonetti | ) www.wsj.com time to read: 1 min

Charles Barkley and Gayle King. Photo: Cary Edmonson/USA Today Sports; Gage Skidmore/Zuma Press“ CBS Mornings” anchor Gayle King and former National Basketball Association star Charles Barkley will host a weekly prime-time show on CNN starting this fall, the network said Saturday. The new show, “King Charles,” will start this fall and will air on Wednesdays. Ms. King, 68 years old, is a well-known national news figure who will bring broad experience to CNN’s lineup. She will continue her responsibilities at CBS while hosting the CNN show.

☆ Athletics acquire land for Las Vegas ballpark
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

Athletics president Dave Kaval said the team was pushing ahead with plans for a new stadium in Las Vegas after the process to build a waterfront ballpark in Oakland stalled. "We have a pact in Las Vegas that we think can work and has the support from the league, so we are really putting all our focus in Las Vegas and the efforts there." MLB is the latest major sport league eager to get in on the Las Vegas action. "In 2021, given the continued lack of progress, MLB instructed the A's to explore a parallel path plan with Las Vegas. "We support the A’s turning their focus on Las Vegas and look forward to them bringing finality to this process by the end of the year."

☆ ESPN to begin layoffs early next week as part of Disney cost cuts, sources say
▼ + stars: | 2023-04-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

ESPN will begin layoffs early next week as part of parent company Disney 's cost cutting efforts, according to people familiar with the matter. The number of layoffs at ESPN is unclear and the decision process is still fluid. The company will also lay off about 15% of the staff in its entertainment division next week, Bloomberg reported this week. Disney reorganized earlier this year, and ESPN will release its financials as its own division for the first time. WATCH: Disney eliminates metaverse division as part of layoffs plan

☆ Former Hornets forward Bridges suspended 30 games for domestic violence
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - The National Basketball Association (NBA) has suspended former Charlotte Hornets forward Miles Bridges 30 games without pay as a result of a domestic violence incident involving the mother of his children, the league said on Friday. The incident occurred last June in Los Angeles, after which Bridges was arrested and charged with multiple offenses. Bridges entered a plea of no contest to a felony domestic violence charge and the remaining counts against him were dismissed. Following his arrest and plea, Bridges did not sign an NBA contract for the ongoing 2022-23 season, missing all 82 games. The NBA conducted its own investigation, interviewing Bridges, the mother of his children, numerous third-party witnesses and also consulted with domestic violence experts.

☆ NBA fines Mavs $750K for sitting players, undermining 'the integrity of our sport'
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - The National Basketball Association fined the Dallas Mavericks $750,000 on Friday for resting multiple players during a game last week that had draft implications and while they were not mathematically eliminated from playoff contention. The NBA said Dallas violated the player resting policy and demonstrated through actions and public statements a desire to lose the contest in order to improve their chances of keeping their first-round pick in the 2023 NBA Draft. "The Dallas Mavericks' decision to restrict key players from fully participating in an elimination game last Friday against Chicago undermined the integrity of our sport," NBA Executive Vice President Joe Dumars said in a news release. A lottery to determine the final order for the June 22 draft will be held on May 16. Reporting by Frank Pingue in Toronto Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

[1/3] Las Vegas Grand Prix, Inc. CEO Renee Wilm and Terry Miller of Miller Project Management give a tour of the Las Vegas Grand Prix paddock construction site, in Paradise, Nevada, U.S., March 3, 2023. "We think this is going to the biggest sports and entertainment event of the year," Renee Wilm, the CEO of the Las Vegas Grand Prix, told Reuters. "There is no better way for Las Vegas to draw the attention of our international customers than through Formula One," Steve Hill, CEO of Las Vegas Convention and Visitors Authority, told Reuters. JUST THE BEGINNINGAnd the Las Vegas sports bonanza won't stop at the F1 finish line. Reporting by Rory Carroll in Las Vegas Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ YES Launches Streaming Platform Offering Access to Yankees, Nets Games Without Pay-TV Subscription
▼ + stars: | 2023-03-29 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

A New York Yankees spring-training game in Tampa, Fla., this month. The television home of the New York Yankees is launching a streaming service that will allow fans in the region to watch games without needing a cable or satellite subscription, the latest sign of the continued erosion of the traditional pay-TV bundle. The YES Network, which also airs games of the National Basketball Association’s Brooklyn Nets and the WNBA’s New York Liberty, on Wednesday said its new streaming option would cost $24.99 a month or $239.99 annually.

☆ Six Exercises to Keep Knee Pain in Check
▼ + stars: | 2023-03-18 | by ( Jen Murphy | Photographs Larryl Pitts For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Knee pain is a fact of life. It affects about 25% of adults, according to the American Academy of Family Physicians. It can deter us from participating in activities like skiing, tennis and basketball, and affect basic tasks like walking up and down steps. As strength and conditioning coach for the National Basketball Association’s Washington Wizards, Kyle Moschkin constantly helps players manage knee pain.

☆ NBA Player Richaun Holmes Sues Sacramento Bee Parent for Defamation
▼ + stars: | 2023-03-04 | by ( Alexandra Bruell | ) www.wsj.com time to read: 1 min

Richaun Holmes of the Sacramento Kings. Sacramento Kings forward Richaun Holmes sued the Sacramento Bee’s parent company, McClatchy Co., and Bee opinion writer Robin Epley for defamation over articles that included Mr. Holmes’s ex-wife’s allegations of domestic and child abuse. The National Basketball Association player has retained Camille Vasquez, lawyer to actor Johnny Depp and other celebrities, in his fight against McClatchy and other defendants, including Allexis Holmes, whom he divorced in 2019.

☆ Exclusive: Blackstone set to raise as much as $10 billion for tactical opportunities
▼ + stars: | 2023-02-23 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 23 (Reuters) - Blackstone Inc (BX.N), the world's largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters. Blackstone has amassed about $5 billion for the Blackstone Tactical Opportunities Fund IV, which was initially aiming to raise only $4 billion, Reuters previously reported. Blackstone has raised three previous tactical opportunities funds that cumulatively collected about $16.4 billion from investors since the first of them was first launched in 2012. The $6.7 billion Blackstone Tactical Opportunities Fund II and the Tactical Opportunities Fund III, which raised $4.09 billion, had generated a net internal rate of return of 14.1% and 11.7%, respectively, as of June last year, according to the California Public Employees' Retirement System. Blackstone's tactical opportunities division has about $34 billion in assets under management.

NEW YORK, Feb 22 (Reuters) - The creator of a marketplace for National Basketball Association Top Shot non-fungible tokens must face a lawsuit claiming that the tokens are securities, a U.S. judge ruled on Wednesday. U.S. District Judge Victor Marrero in Manhattan rejected Dapper Labs Inc's bid to dismiss a proposed class action by purchasers of NBA Top Shot Moments, which are digital video clips of NBA game highlights. The lawsuit said Dapper should have registered the NFTs as securities because their value was tied to the success of Dapper's blockchain. It says there are more than 1.5 million users of NBA Top Shot, with sales exceeding $1 billion. The case is Friel v. Dapper Labs Inc et al, U.S. District Court, Southern District of New York, No.

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