mobaz
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Post by mobaz on Jul 1, 2024 11:50:42 GMT -5
White extended!!!! 4/125.9m There is a guy who knows where his butter is breaded. He could have gotten more next year, but he's beloved, necessary, can be The Man at times but doesn't need to be, and now has 4 more swipes at another trophy. Anyone know if this is on top of this season or if it overwrites it? I'm not good at NBA contracts.
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Post by Don Caballero on Jul 1, 2024 11:52:50 GMT -5
3/87m for Hartenstein… lol Don't be like that RJP lol they needed rebounding and they got the best option they could. The absolute BEST option they had was to trade every pick for Lauri Legend, but maybe that wasn't an option!
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Post by rjp313jr on Jul 1, 2024 11:57:12 GMT -5
White extended!!!! 4/125.9m There is a guy who knows where his butter is breaded. He could have gotten more next year, but he's beloved, necessary, can be The Man at times but doesn't need to be, and now has 4 more swipes at another trophy. Anyone know if this is on top of this season or if it overwrites it? I'm not good at NBA contracts. 5 more cracks because it’s an extension that kicks in after this year!! Woot woot
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Post by rjp313jr on Jul 1, 2024 11:59:12 GMT -5
3/87m for Hartenstein… lol Don't be like that RJP lol they needed rebounding and they got the best option they could. The absolute BEST option they had was to trade every pick for Lauri Legend, but maybe that wasn't an option! lol, my bad. They could have just signed Drummond if they just needed rebounding. But anytime you can add a non-shooting, non-play making big who can rebound for $29m a year you should definitely do it lol.
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Post by Don Caballero on Jul 1, 2024 12:03:02 GMT -5
lol, my bad. They could have just signed Drummond if they just needed rebounding. But anytime you can add a non-shooting, non-play making big who can rebound for $29m a year you should definitely do it lol. Drummond is old and sh*t, Hartenstein is still young and actually great defender. They did overpay, but the fit was there!
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Post by rjp313jr on Jul 1, 2024 12:09:39 GMT -5
lol, my bad. They could have just signed Drummond if they just needed rebounding. But anytime you can add a non-shooting, non-play making big who can rebound for $29m a year you should definitely do it lol. Drummond is old and sh*t, Hartenstein is still young and actually great defender. They did overpay, but the fit was there! Ready for this: Drummond is only 30…. Somehow… no idea how, but it’s true
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cdj
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Post by cdj on Jul 1, 2024 12:10:38 GMT -5
Oh boy
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mobaz
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Post by mobaz on Jul 1, 2024 12:14:16 GMT -5
Noooooo
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nomar
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Post by nomar on Jul 1, 2024 12:22:54 GMT -5
Wow that is not something I expected
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Post by rjp313jr on Jul 1, 2024 12:26:12 GMT -5
So all that talk about being paid in banners was BS.
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Post by philarhody on Jul 1, 2024 12:27:50 GMT -5
3/87m for Hartenstein… lol Yeah that's what I mean. They brought back Joe and Aaron Wiggins, and now with $29m/yr to Hartenstein, this is their team until/unless their next picks emerge. It's a good team that will naturally get better, but they had an opportunity with money/picks/Giddey to bust open their window and they are still slowly raising it. The Thunder have no bad assets and a bevy of picks. With moderate growth from their young core they are likely favorites in the West. If they eventually need to consolidate some of their 12 rotation players, they can do so in the future. I am not happy that they signed Hartenstein, even if it is an overpay.
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Post by philarhody on Jul 1, 2024 12:30:15 GMT -5
Guesses on sale? 6.5 billion? It hurts that they don’t have their own stadium. Who owns the stadium? Can that group just buy the team?
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Post by bg23 on Jul 1, 2024 12:33:39 GMT -5
So all that talk about being paid in banners was BS. I think the subtext to the comments about being paid in banners is they knew the valuation was likely to be incredibly high after a run of success, so this is all a part of that. I certainly would have hoped they stayed around for awhile longer, but this was always going to be where their money was made.
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Post by philarhody on Jul 1, 2024 12:35:25 GMT -5
This is all very troubling news right after signing the entire squad for 9 figures over the second apron.
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Post by philarhody on Jul 1, 2024 12:36:17 GMT -5
So all that talk about being paid in banners was BS. I think the subtext to the comments about being paid in banners is they knew the valuation was likely to be incredibly high after a run of success, so this is all a part of that. I certainly would have hoped they stayed around for awhile longer, but this was always going to be where their money was made. Yeah, but they didn’t even really pony up for the team yet.
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cdj
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Post by cdj on Jul 1, 2024 12:40:37 GMT -5
So Wyc is selling his majority stake, I believe the others who own smaller portions are staying on. Wyc will be chairman until 2028 when the final closing happens.
With the team announcing games against Denver in Abu Dhabi a few months ago it wouldn’t shock me to see the Celtics go oil money. Great for spending purposes, not as fun or wholesome as Wyc though that’s for sure
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Post by bg23 on Jul 1, 2024 12:42:33 GMT -5
I think the subtext to the comments about being paid in banners is they knew the valuation was likely to be incredibly high after a run of success, so this is all a part of that. I certainly would have hoped they stayed around for awhile longer, but this was always going to be where their money was made. Yeah, but they didn’t even really pony up for the team yet. Definitely don't agree with it. It comes off as calculated and money hungry, but I guess I have a low enough opinion of owners as a whole that this was very unsurprising.
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Post by jmei on Jul 1, 2024 12:50:49 GMT -5
To be fair to Wyc, he's not independently wealthy to the extent that a lot of other owners are. His VC fund has only $340M in assets under management (relatively small as far as those things go) and the Celtics have not been spinning off a ton of free cash flow.
ADD: to put it slightly differently, Wyc has the vast majority of his net worth tied up in the Celtics, without a lot of other sources of cash flow or liquid assets (again, all only as compared to the average NBA owner). This team is going to need a principal owner who is willing to put in the cash necessary to sustain huge luxury tax bills if they want to stay competitive, and Wyc probably knew he couldn't be that guy, in which case now is a great time to get out.
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Post by jmei on Jul 1, 2024 13:02:29 GMT -5
Also, that White deal is a huge bargain. This core has real dynasty potential. Makes it less fun to play fantasy GM, and the lack of news flow is going to mean less national coverage (the national pundits gravitate to the shiny new thing). But don't get it wrong, they're going to be the team to beat for the foreseeable future.
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Post by philarhody on Jul 1, 2024 13:10:47 GMT -5
To be fair to Wyc, he's not independently wealthy to the extent that a lot of other owners are. His VC fund has only $340M in assets under management (relatively small as far as those things go) and the Celtics have not been spinning off a ton of free cash flow. ADD: to put it slightly differently, Wyc has the vast majority of his net worth tied up in the Celtics, without a lot of other sources of cash flow or liquid assets (again, all only as compared to the average NBA owner). This team is going to need a principal owner who is willing to put in the cash necessary to sustain huge luxury tax bills if they want to stay competitive, and Wyc probably knew he couldn't be that guy, in which case now is a great time to get out. Yeah, there’s no doubt that Wyc and company don’t have the cash of other owners. The doubt is whether this team can remain solvent for a potential dynasty. Wyc’s shallow pockets serve as a canary in the coal mine that this ride might not last as long as we thought it would. *and to clarify the “solvency” of an NBA franchise; obviously, this team is looking at some major losses if they are headed toward $150 million over the second apron territory. But the Warriors were able to withstand smaller losses due to their stadium ownership. We just saw Steve Ballmar, easily the richest owner in basketball, refuse to pay Paul George and enter the second apron. $100 million cash a year is not a small amount for even the world’s richest businessman, whose assets are typically tied up in their positions of equity.
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Post by jmei on Jul 1, 2024 13:21:21 GMT -5
Here's the actual announcement press release. Very carefully worded to suggest that Wyc and his father are driving the process. I wonder if Pags and some of the minority owners will look to buy the whole team.
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nomar
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Post by nomar on Jul 1, 2024 13:41:19 GMT -5
Wow Klay 3/50 to the Mavs that’s less than I thought he’d get
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Post by rjp313jr on Jul 1, 2024 14:04:55 GMT -5
If Wyc sells the team to an Abu Dabi with oil money, I’ll be happy. Need an F U money owner
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Post by Don Caballero on Jul 1, 2024 14:25:32 GMT -5
Ready for this: Drummond is only 30…. Somehow… no idea how, but it’s true Yeah but I feel like that's 30 in dog years you know, dude has that grandpa body. He is, at this point, a backup C while Hartenstein is closer to a starter. OKC did overpay, but I don't hate it and they HAD to do something. And on the topic of Wyc selling the team, PLEASE dear God no circus owner. The Celtics are the most respectable franchise in the NBA. Keep it that way.
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Post by redsoxfan2 on Jul 1, 2024 15:21:25 GMT -5
Come on Fenway Sports Group!
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