Every morning, we compile the links of the day and dump them here… highlighting the big storyline. Because there’s nothing quite as satisfying as a good morning dump.
Mr. Ellison, who routinely ditched schoolwork for basketball practice during his high-school years in Chicago, has yet to break into a major American sport.
His top sporting accomplishment has come in the America’s Cup, the world’s most famous yachting competition. He owns Oracle Team USA, the racing squad that lost the contest in 2003 and 2007 before winning in 2010 and 2013. Mr. Ellison, with an estimated wealth of more than $40 billion, lavished his own money on those campaigns; the head of Oracle Team USA estimated last year that the sailing squad’s budget for the 2013 America’s Cup was at least $115 million, though part of that came from corporate sponsors.
The Oracle chief has had basketball courts on at least two of his yachts, said Tom Ehman, who handles America’s Cup matters for Mr. Ellison. He said Mr. Ellison liked to relax by shooting hoops on these courts, and has had someone in a powerboat following the yacht to retrieve balls that go overboard.
I want this life so badly. Here’s a shot of one of his yachts, the “Rising Sun”
According to Wikipedia, the court doubles as a helipad. You know, when you want to fly Magic Johnson in for a little game of 1-on-1.
And what about the guy shagging the basketballs in the powerboat. I can’t even get Chuck to bend over to pick up the pen that rolled under his desk, and this guy’s got someone in a motorboat and a fishing net shagging errant jumpers.
As for the “potential Clippers owner” part, the owners took the first step in making the Clippers available yesterday:
The 10-member committee, which includes Celtics co-owner Wyc Grousbeck, met via teleconference call on Thursday.
“The Committee unanimously agreed to move forward as expeditiously as possible and will reconvene next week,” said Mike Bass, the NBA’s Executive Vice President of Communications.
Here’s the fun (sarcasm alert) part: Aside from being super-racist, Donald Sterling is super-litigious, and he’ll sue to keep the team for as long as he can. And he’s got $300 million reasons to fight this thing, literally, until he dies (which could be any day now, but still).
Sterling reportedly purchased the Clippers for $12.5 million in 1981. If he sold the team today, it would be worth at least $600 million, perhaps closer to $1 billion. Between federal and state capital gains taxes, Sterling would pay an approximately 33 percent tax rate on the difference between what he paid for the team and what he sold it for. For instance, if he sold the Clippers today for $1 billion, Sterling would pay capital gain taxes of 33 percent on a gain of $987.5 million. As a result, Sterling would owe Federal & state capital gain taxes of approximately $329 million.
if the family inherited the Clippers and then sold it, they would only pay a capitals gain tax on the difference between the value of the team when they inherited it and the value of it when sold. For instance, if the family inherited the team and it was worth $700 million and then they sold it for $800 million, they would only pay capital gain taxes on a gain of $100 million. In that instance, there would be a comparatively modest tax bill of $33 million.
I know… you’ve been waiting for some hot capital gains tax talk. You’re welcome.
But I think this illustrates that there is a massive incentive for Sterling to fight this thing. And knowing his history, he will until he croaks. Which could be soon.
Los Angeles Clippers owner Donald Sterling is battling cancer, sources have confirmed to ESPN.com.
The news was first reported by the New York Post.
The Post, citing sources, reported that the 80-year-old Sterling has been battling prostate cancer for an extended period of time.
Page 2: The Pacers MIGHT lose Paul George for Game 7
The NBA will review a second-quarter altercation between the Hawks’ Mike Scott and the Pacers’ George Hill in Thursday’s Game 6 of the Eastern Conference playoff series, the Atlanta Journal-Constitution has learned.
The incident could lead to suspensions for several Pacers, including All-Star Paul George, who appeared to leave the bench and step onto the court. The league will also look into whether Hill poked Scott in the eye.
During the fracas, replays also showed Pacers players George and Rasual Butler stepping onto the court. According to NBA rules a player faces suspension for leaving the bench in the vicinity of an on-court altercation. There is precedent for a suspension in past postseasons.
Here’s the play:
I don’t think anyone on the Pacers did enough to warrant a suspension. He barely stepped forward and he didn’t really didn’t make an attempt to join in anything or escalate anything. But the league is looking at it.
I’m sure people will want to make a comparison to 2007 when the Suns lost Amar’e Stoudemire and Boris Diaw to suspension for leaving the bench after Robert Horry hip-checked Steve Nash. But in that one, Stoudemire and Diaw were almost at half court, and they made it way too easy to enforce the “leave the bench area” automatic suspension. This wasn’t even close to that.
The Pacers have problems, but they won last night (after finally figuring out Roy Hibbert was a liability) and they forced a Game 7. They won’t win it without George, though, so they’d better hope the NBA doesn’t have a stick up its ass about this.
The rest of the links