NBA says NYTimes.com blog was based on inaccurate info

The following is an official release from the NBA:

The information from Forbes that serves as the basis for this article is inaccurate and we do not know how they do their calculations. Forbes does not have the financial data for our teams and the magazine’s estimates do not reflect reality.

Precisely to avoid this issue, the NBA and its teams shared their complete league and team audited financials as well as our state and Federal tax returns with the Players Union. Those financials demonstrate the substantial and indisputable losses the league has incurred over the past several years.

The analysis that was posted this afternoon has several significant factual inaccuracies, including:

“(The NBA) is a fundamentally healthy and profitable business”

• The league lost money every year of the just expiring CBA. During these years, the league has never had positive Net Income, EBITDA or Operating Income.

“Many of the purported losses result from an unusual accounting treatment related to depreciation and amortization when a team is sold.”

• We use the conventional and generally accepted accounting (GAAP) approach and include in our financial reporting the depreciation of the capital expenditures made in the normal course of business by the teams as they are a substantial and necessary cost of doing business.

We do not include purchase price amortization from when a team is sold or under any circumstances in any of our reported losses. Put simply, none of the league losses are related to team purchase or sale accounting.

“Another trick…moving income from the team’s balance sheet to that of a related business like a cable network…”

• All revenues included in Basketball Related Income (“BRI”) and reported in our financial statements have been audited by an accounting firm jointly engaged by the players’ union and the league. They include basketball revenues reported on related entities’ books.

“Ticket revenues… are up 22% compared to 1999-2000 season”

• Ticket revenues have increased 12% over the 10 year period, not the 22% reported.

“17 teams lost money according to Forbes … Most of these losses were small…”

• Forbes’ claim is inaccurate. In 2009-10, 23 teams had net income losses. The losses were in no way “small” as 11 teams lost more than $20M each on a net income basis.

“The profits made by the Knicks, Bulls and Lakers alone would be enough to cover the losses of all 17 unprofitable teams.”

• The Knicks, Bulls and Lakers combined net income for 2009-10 does not cover the losses of the 23 unprofitable teams. Our net loss for that year, including the gains from the seven profitable teams, was -$340 million.

“Forbes’s estimates — a $183 million profit for the NBA in 2009-10, and those issued by the league, which claim a $370M loss…”

• Forbes’s data is inaccurate. Our losses for 2009-10 were -$340 million, not -$370 million as the article states.

“The leaked financial statements for one team, the New Orleans Hornets, closely matched the Forbes data…”

• This is not an accurate statement as operating income in the latest Forbes data (2009-10) is $5M greater than what is reported in the Hornets audited financials.

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Serge Ibaka would consider playing in Europe during lockout

Darnell Mayberry of the Oklahoman reports:

Serge Ibaka

Thunder forward Serge Ibaka is considering playing in Europe if the NBA’s lockout drags on.

While vacationing in Spain, Ibaka recently told a radio station that he would be open to returning to Spain, where he played for two seasons prior to officially joining the Thunder.

“If there is a lockout, and there are not many complications to play in the CBA, I would like to return here to play,” Ibaka is quoted as saying.

Ibaka is the latest in a long line of NBA players who have expressed an interest in playing overseas in the event of a prolonged lockout. Former Thunder center Nenad Krstic, who was traded to Boston at the deadline, recently signed a deal with CSKA Moscow in Russia. But Krstic’s contract had expired.

InsideHoops.com editor says: It’s safe to say that almost every player in the league “would consider” playing somewhere overseas if the lockout was to go on for an extended period of time. I expect lots of articles like this to emerge over the next week or two. Pretty logical for players to consider all their options. But of course, almost all of them would prefer for the NBA to be in its usual active state.

Celtics extend qualifying offer to Jeff Green

jeff green

The Boston Celtics announced today that they have extended a qualifying offer to forward Jeff Green, making him a restricted free agent. The qualifying offer allows the Celtics to match any off he receives from another team.

Green, a 6’9” forward, averaged 13.3 points, 4.8 rebounds, and 1.4 assists in 32.4 minutes per game split between Oklahoma City and Boston during the 2010-11 season.  In his 26 games with the Celtics, Green shot 48.5 percent from the field.  The fourth year pro also shot 43.4 percent from three-point territory in nine games during the playoffs.  In his first Celtic start against the Wizards on April 11, Green recorded 20 points and a career-high tying 15 rebounds.  Green, a member of the 2008 All-Rookie First Team, has posted career averages of 13.9 points and 5.5 rebounds in 315 games.

OKC Thunder sign Nazr Mohammed to contract extension

nazr mohammed

The Oklahoma City Thunder have signed center Nazr Mohammed to a contract extension, it was announced today by Executive Vice President and General Manager Sam Presti. We’ll post contract details here later on Wednesday.

“We are pleased to be able to keep Nazr in the Thunder family,” said Presti. “He is a valuable part of our organization both on and off the floor. His professionalism, experience, and on-court play have had a positive impact on our young and evolving roster.”

Mohammed (6-10, 250) owns career averages of 6.9 points, 5.4 rebounds in 17.9 minutes in 771 career NBA games. He appeared in 24 games (seven starts) for the Thunder after being acquired from the Bobcats on February 24th. Mohammed averaged 6.9 points and 4.8 rebounds in 17.9 minutes per game with Oklahoma City.

Originally selected in the first round (29th overall) of the 1998 NBA Draft by the Utah Jazz, Mohammed has appeared in 58 NBA Playoff games during his 13-year career. Mohammed’s career has been highlighted by winning two NCAA Championships (University of Kentucky 1996 and 1998) and an NBA Championship (San Antonio Spurs, 2005).

OKC Thunder exercise options on Harden, Ibaka, Maynor, Mullens and Aldrich

James Harden

The Oklahoma City Thunder has exercised contract options on five players Executive Vice President and General Manager Sam Presti announced today.

The Thunder exercised its fourth-year options on guard James Harden, forward Serge Ibaka, guard Eric Maynor and center Byron Mullens, as well as its third-year option on center Cole Aldrich.

Harden, who was selected third overall by the Thunder in the 2009 NBA Draft, averaged 12.2 points, 3.1 rebounds and 2.1 assists per game in his second season. Harden appeared in all 82 games for the Thunder and was selected to the 2011 T-Mobile Rookie Challenge and Youth Jam Sophomore Team.

serge ibaka

Ibaka, the 24th overall selection in the 2008 NBA Draft, appeared in all 82 games (44 starts) for the Thunder during the 2010-11 season. The Republic of Congo native averaged 9.9 points, 7.6 rebounds and 2.4 blocks (3rd in the NBA) per contest.

Maynor, who was acquired by the Thunder via trade on December 22, 2009, appeared in all 82 games for the team this season. The VCU product averaged 4.2 points and 2.9 assists in 14.6 minutes per game.

Mullens, the 24th overall selection in the 2009 NBA Draft, appeared in 13 games for the Thunder during the 2010-11 season. Mullens made 14 appearances (14 starts) for the Tulsa 66ers, the Thunder’s D-League affiliate, where he averaged 14.9 points and 6.8 rebounds in 27.7 minutes per contest.

Aldrich, the 11th pick in the 2010 NBA Draft, appeared in 18 games for the Thunder. The Kansas product appeared in 21 games (21 starts) for the Tulsa 66ers where he averaged 10.3 points and 8.6 rebounds in 29.3 minutes per game.

OKC Thunder extend qualifying offer to Daequan Cook

daequan cook

Oklahoma City Thunder Executive Vice President and General Manager Sam Presti announced today that the team has extended a qualifying offer to guard Daequan Cook, making him a restricted free agent.

Cook appeared in 43 games in his first season with the Thunder. The Ohio State product averaged 5.6 points and 1.7 rebounds in 13.9 minutes per contest. Cook, who ranked 11th in the NBA in three-point field goal shooting,  made 65 of 154 three-point attempts (.422) this season.

Rumor: Thunder open to trading Eric Maynor

Chad Ford of ESPN reports:

Is Thunder point guard Eric Maynor worth a lottery pick? Sources say the Thunder have been quietly gauging interest in Maynor over the last few days in an attempt to move up into the top half of the draft. They’ve spoken to the Kings (No. 7) and Bobcats (No. 9) in particular in the last few days.

Maynor was the 20th pick in the 2009 draft, which was one of the most loaded point guard drafts ever.

Spain picks Serge Ibaka for European championship

The AP reports:

serge ibaka

Defending champion Spain included Oklahoma City Thunder forward Serge Ibaka in its preliminary team on Tuesday for the European championship.

Ibaka, who was born in the Republic of the Congo, is still waiting to become nationalized by Spain before the championship begins on Aug. 31 in Lithuania.

“We hope he can play, even though we are not sure that he will be able to,” Spain coach Sergio Scariolo said. “We are in the phase of waiting for the paperwork to go through.”

Ibaka played for Spanish clubs for three years before moving to the NBA in 2009. According to Spanish media reports, he maintains a residence in Barcelona.

NBA heads to 2011 offseason of uncertainty

The AP reports:

“It’s an odd position, when the game is the best it’s ever been, when the ratings are the highest they’ve ever been, when the excitement is the greatest it’s ever (been),” Players Association attorney Jeffrey Kessler said last week. “It’s sort of odd to see the owners say we’re going to destroy this game unless you change this whole system. Players just want to play.”

Nobody can predict when they’ll get that chance again. When the Dallas Mavericks finished off the Miami Heat on Sunday night in Game 6, it sent the NBA into a most uncertain offseason.

Owners and players are nowhere close on a new collective bargaining agreement to replace the one that expires June 30. Without a new deal, players say they have been told by the owners they will be locked out.

The NBA was reduced to a 50-game season by a work stoppage in 1998-99, and the loss of games is a threat now. Citing leaguewide losses of about $300 million this season, the league hasn’t budged on its desire for significant changes to the financial structure, ranging from reductions in the length of contracts and the amount of guarantees, to an overhaul of the salary cap system that would prevent teams from being able to exceed it, as they can now under certain exceptions.

And Stern said the record TV ratings and all the other positive attention the league has received doesn’t make him any more motivated to get this settled, since he’d want to do it anyway.

“I don’t need any external prod to want to be able to make a deal,” he said…

The sides are scheduled to meet twice this week and say they hope for frequent discussions before the end of the month. Should those fail, the NBA could follow the NFL’s labor situation right into the court system, which both sides say they want to avoid. So although a work stoppage in July wouldn’t seem to have much effect since games aren’t going on, Stern insists “we very much feel the weight of the deadline.”

Nate Robinson charged with public urination

Richard Liebson of Lohud.com reports:

nate robinson

NBA point guard Nate Robinson made quite a splash on Main Street early Friday when police said he was spotted urinating on the sidewalk outside the City Center.

The 5-foot-9 member of the Oklahoma City Thunder, who has also played for the New York Knicks and Boston Celtics, was arrested shortly before 2 a.m. after cops said he was seen doing his business outside the Barnes & Noble store at 230 Main St.

He was taken Police Headquarters where he was issued a ticket charging him with a public urination violation.

InsideHoops.com editor says: At least he wasn’t jumping 28 feet in the air and trying to dunk while doing it. Because then bystanders might have gotten an unwanted souvenir from the experience.