Bucks will sign Andrew Bogut to extension

The Milwaukee Journal-Sentinel (Charles F. Gardner) reports: The Bucks are making a serious commitment to center Andrew Bogut, who will sign a five-year extension with salary and bonuses worth up to $72.5 million, according to agent David Bauman. Today is the first day for NBA free agents and players seeking extensions to sign contracts. The extension does not affect the $6.9 million he is owed for the coming season, the final year of his rookie contract. Sources indicated the guaranteed money in the extension is $60 million.

InsideHoops.com editor says: Bogut emerged last season as a quality center, though I think the Bucks are overpaying by around $10 or $20 million. He’s a good player but I haven’t seen him be a real difference-maker yet. Of course, his teammates didn’t help much in that department last season. Everyone that matters on the Bucks, including guards Mo Williams and Michael Redd, were disappointing. So it’s not Bogut’s fault that his stats mostly came by way of losses. Anyway, even if they’re paying a bit more than they should, the Bucks are making the right move. But let’s see if Bogut keeps improving once he signs the contract. Lots of guys, by total coincidence, seem to level off the season after they suddenly become zillionaires.

Steve and Barry`s chain declares for bankruptcy

Business Journal of Milwaukee reports: The men’s and women’s clothing store chain Steve & Barry’s will file for Chapter 11 bankruptcy protection, according to a release from the company Wednesday. The Port Washington, N.Y.-based Steve & Barry’s has more than 270 stores across the nation, including nine in Massachusetts. It has one local store at Southridge Mall in Greendale. The company said a number of factors went into the decision, including a liquidity shortfall as a result of credit market volatility and general economic conditions, which, in turn, have impacted the company’s store opening plans and borrowing capacity.

InsideHoops.com editor says: In case you forgot, that’s the chain that sold the Starbury sneakers. Everything at Steve and Barry’s costs around $5-$20 or something like that.  I’ve only been in their stores once, for the Marbury launch party back a few years ago which was held in their midtown Manhattan location, pretty close to Madison Square Garden. Seemed like a good store. I guess the prices were too low.

Zillions of NBA transactions today

WEDNESDAY NBA BASKETBALL NEWS AND FEATURES

Kings sign their second rounders
Grizzlies sign Marc Gasol
Kings re-sign Beno Udrih
Raptors re-sign Jose Calderon		 Mavericks sign DeSagana Diop
Heat sign James Jones
Knicks sign Chris Duhon
Updated NBA depth charts

Hornets sign Chris Paul to contract extension
Pacers trade Jermaine O’Neal to Raptors for T.J. Ford in six-player deal
Blazers trade J.Jack, J.McRoberts, B.Rush to Pacers for J.Bayless, I.Diogu
76ers trade Calvin Booth, Rodney Carney to Timberwolves
WNBA basketball: Taurasi hits 3,000 quicker than any other WNBA’er

Orlando summer league Day 2: The good: Brook Lopez, Russell Westbrook, Jeff Green, Kevin Durant, Courtney Lee, Mario Chalmers. The bad: Michael Beasley, Derrick Rose

Kings sign their second rounders

The Sacramento Kings today signed second round picks Sean Singletary and Patrick Ewing, Jr. to contracts, it was announced by Kings’ President of Basketball Operations Geoff Petrie. Per team policy, terms of the contracts were not disclosed.

Singletary, a 6-0, 185-pound guard out of Virginia, was the Kings’ 42nd overall selection while Ewing, Jr., a 6-8, 240-pound forward from Georgetown, was Sacramento’s 43rd overall pick of the 2008 NBA Draft.

Pacers president and coach speak on deals

“We’re very excited about the trades we made,” said Pacers President of Basketball Larry Bird. “We know we got some good character guys and good players. I just want to help the franchise move forward and we feel with the draft, we know we picked up two good guys that our fans are going to be very supportive of and excited about.”

Added Pacers Coach Jim O’Brien: “I think Larry and (General Manager) David Morway did an outstanding job in changing around our basketball team, both with the trades and the picks. Our team will have a completely different look next year. Overall, the seven new players we have give us a completely different look than we had last year and we have maintained the guys that got the majority of playing time at the end of last season.

“An area of particular concern for us last year was the point guard spot. We certainly feel with Travis (Diener) returning and the addition of T.J. Ford and Jarrett Jack we have solidified that position. We feel getting Maceo, Rasho and Josh really gives us solid depth up front. Brandon gives us a guy who can very quickly impact both ends of the court. Defensively, we think he can be a high-level stopper and we also think Brandon has the potential to create his own shot on a regular basis as well as give us spacing on the court. Roy gives us size and low-post scoring. At the end of every game, he’s still going to be 7-2, which is a real important factor for us.”

The deals:

–  Pacers trade Jermaine O’Neal to Raptors for T.J. Ford in six-player deal

– Blazers trade J.Jack, J.McRoberts, B.Rush to Pacers for J.Bayless, I.Diogu

James Donaldson to run for Seattle City Council

The Seattle Post-Intelligencer (Dan Raley) reports: Unlike his former NBA team, James Donaldson won’t be leaving town soon. The one-time Sonics center is interested only in making a deeper connection to Seattle. On Wednesday, Donaldson, 50, will announce plans to run for Seattle City Council in 2009, describing himself as a made-to-order leader and a person devoted to his hometown of the past 30 years… A California native and Washington State alumnus, Donaldson played 14 seasons with five teams in the NBA, the first three years for the Sonics. Teaming with Jack Sikma and Lonnie Shelton, he was part of a huge Seattle front line that was nicknamed “the Winnebago Wall.” He was an All-Star selection for the Dallas Mavericks.

Lakers raise ticket prices

The Los Angeles Times (Mike Bresnahan) reports: Courtside seats were raised from $2,300 to $2,500 a game, an 8.7% hike that moved beyond the typical annual increase of 4.5%. Seats in six lower-level sections between the baskets — 101, 102, 110, 111, 112 and 119 — were raised from $230 to $245, a 6.5% increase that also topped the team’s normal action on such seats. The league average for ticket-price increases is usually 3% to 4%. Other tickets in the lower bowl at Staples Center will be $210, $147, $110, and $85, increases of 4.8% to 6.3%.

Gerald Green must learn fundamentals

The Dallas Morning News (Eddie Sefko) reports:  Fundamentals were never ingrained in Gerald Green because he could always get by on his outrageous physical talent. Carlisle said Green jumps higher than any player he’s ever seen and that he’s also a good outside shooter. But Green has never learned to translate his physical gifts into great defense or ball-handling ability. “I just didn’t take advantage of my opportunities,” Green said. “I blame myself, nobody else. … I’m a new guy and ready to get after it.” Green averaged better than 10 points with Boston in his second NBA season, which is partly why he was included in the trade that brought Kevin Garnett (and a championship) to Boston.  A struggling Green was traded to Houston, which cut him after one game.

2008-09 Salary Cap set to $58.680 million

The  National  Basketball  Association today announced  that  the  Salary  Cap  for  the  2008-09 season will be $58.680 million.   The  new  Cap  goes  into  effect  immediately  as  the league’s “moratorium  period”  has ended and teams can begin signing free agents and making trades.

The  tax level for the 2008-09 season has been set at $71.150 million.  Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $71.150 million.

The  mid-level  exception  is $5.585 million for the 2008-09 season and the minimum  team  salary,  which  is  set at 75% of the Salary Cap, is $44.010 million.

For  the 2007-08 season, the Salary Cap was set at $55.630 million, the tax level was $67.865 million and the mid-level exception was $5.356 million.

Raptors sign Hassan Adams

The Toronto Raptors announced Tuesday they have signed free-agent guard-forward Hassan Adams to a two-year contract. Per team policy, financial details were not disclosed. Adams attended the Raptors’ free agent camp held June 20-22 at Air Canada Centre.

Adams, 6-foot-4, 220 pounds, played in Italy last season. He signed in November with Ignis Draghi Novara (Lega2), where he averaged 20.0 points, 4.7 rebounds, 2.3 assists and 3.0 steals in 12 games. In March, he moved to Siviglia Wear Teramo (SerieA) and averaged 13.1 points, 4.8 rebounds, 2.0 assists and 2.0 steals in eight games.

Adams was selected 54th overall in the 2006 NBA Draft by the New Jersey Nets. He appeared in 61 games with New Jersey in the 2006-07 season, averaging 2.9 points, 1.3 rebounds and 8.1 minutes. He averaged 4.3 points, 2.9 rebounds and 18.3 minutes in eight starts. He led the Nets in scoring twice, in steals five times and in blocks four times. He posted career highs of 16 points and eight rebounds at Boston on November 29, 2006. He saw action in six postseason games with the Nets.

The native of Los Angeles averaged 14.0 points and 5.4 rebounds during his four years at the University of Arizona. He earned first-team All-Pac-10 honours as a senior, averaging a career-best 17.5 points. He finished his collegiate career as the only player in Pac-10 history to record 1,800 points, 700 rebounds and 200 steals.

Adams will participate for the Raptors’ entry in the Las Vegas Summer League (July 11-19).