Fantasy Fallout: Raptors, Clippers reportedly finalize Kawhi Leonard trade

Fantasy Fallout: Raptors, Clippers reportedly finalize Kawhi Leonard trade

After seven seasons in Los Angeles, Kawhi Leonard is headed back to the city where he won his second NBA title. The Raptors initially agreed to this trade in late June, but paused it while the NBA investigated Leonard’s contract with the Clippers. That investigation has since been completed, with Leonard receiving a $700,000 fine and the Clippers being fined $30 million and losing five first-round picks.

Team governor Steve Ballmer was suspended for one year, while lead executive Lawrence Frank was suspended for six months. Despite needing to finalize their front office structure for the upcoming season, the Clippers have reportedly finalized a deal that sends Leonard to Toronto in exchange for Brandon Ingram, Gradey Dick, and future draft capital.

With Miami (Giannis Antetokounmpo) and Philadelphia (LeBron James and Jaylen Brown) making major moves to improve their rosters this summer, bringing Leonard back into the fold is Toronto’s “big swing.” Meanwhile, the Clippers will move forward with a core likely to be led by Ingram and Darius Garland. Let’s take a look at the fantasy fallout from the most recent major trade in the NBA.

Toronto receives:

Kawhi Leonard

When healthy, Leonard is one of the best all-around players in the NBA. However, since leaving Toronto after the 2019 NBA championship, staying on the floor has been a challenge. He played 57 games or fewer in four of his seven seasons in Los Angeles, including missing the entire 2021-22 campaign with a knee injury.

However, he has played at least 65 games in two of his last three seasons. 2025-26 ranked among the best of Leonard’s career, as he averaged 27.9 points, 6.4 rebounds, 3.6 assists, 1.9 steals and 2.6 three-pointers while shooting 50.5 percent from the field and 89.2 percent from the foul line. Add in a 38.7 percent mark from three, and Leonard was not far off from a 50/40/90 season.

His production from a season ago is likely to boost Leonard’s ADP considerably, after many managers waited until the third or fourth round in standard league drafts to select him last fall.

As for how his return to Toronto affects the other fantasy mainstays on the roster, Leonard had a considerably higher usage (33.5) than Ingram did with the Raptors last season (26.9). That may not significantly affect Scottie Barnes, who remains a cornerstone, but Immanuel Quickley and RJ Barrett bear watching.

Quickley’s superior three-point shooting to Barrett may give him a better chance of preserving his fantasy value next season. Also, does Ja’Kobe Walter see his opportunities take a hit after a promising end to his second NBA season? That won’t change much in how he’s viewed in dynasty leagues, but his redraft-league value may take a hit.

LA Clippers receive:

Brandon Ingram
Gradey Dick
Two unprotected first-round picks (2031 and 2033)
One pick swap (2027)
Two second-round picks (2030 and 2033)

In the short term, Ingram finds himself in a situation where he should be an offensive focal point alongside Darius Garland. However, given his injury history and current contract, it’s fair to question Ingram’s long-term fit with the Clippers. He’s coming off a season in which he surpassed 70 regular-season games for the second time in his career, but heel surgery sidelined him for most of the playoff series against the Cavaliers.

In 77 games, Ingram averaged 21.5 points, 5.6 rebounds, 3.7 assists and 1.8 three-pointers while shooting 47.7 percent from the field and 82.0 percent from the foul line. In eight-cat formats, his production aligned with his ADP (61), so there wasn’t much for fantasy managers to complain about. However, while the move to Los Angeles and last season’s production may convince some to reach for Ingram earlier in drafts, the injury history may prevent others from doing the same.

Leonard’s exit raises Garland’s fantasy ceiling, provided he remains healthy. As for Gradey Dick, a change of scenery may do him some good after he offered limited production for most of his three seasons in Toronto. His best year in Toronto, 2024-25, was one in which the Raptors were hit hard by injuries. Unless he has a monster preseason, the trade won’t change his outlook in fantasy drafts, even with the Clippers losing Bennedict Mathurin in free agency.

The biggest long-term winner in this deal may be rookie Keaton Wagler, whether he projects to play on or off the ball as his career progresses. The Clippers may not go all-in on a rebuild right now, but a realistic look at the Western Conference suggests this trade moves them closer to the lottery than to title contention.

And it should be noted that, thanks to the Paul George trade, Oklahoma City can swap 2027 first-round picks with the Clippers.

by Editor

Taj Gibson retiring from the NBA after 17 seasons, reportedly set to join Bulls staff as assistant coach

Taj Gibson retiring from the NBA after 17 seasons, reportedly set to join Bulls staff as assistant coach

Taj Gibson is headed back to the Chicago Bulls, just this time on the other side of things. 

Gibson announced Monday he was retiring from basketball after spending 17 seasons in the NBA. Gibson will now join the staff in Chicago, where he got his NBA start, as an assistant under new head coach Tiago Splitter, according to ESPN’s Shams Charania.

“Today is a very emotional day for me. After 17 seasons in the NBA, I can honestly say I gave this game everything I had,” Gibson wrote on social media. “Basketball gave me the opportunity to live a dream. As a kid from Brooklyn, NY, I was lucky to get a chance to display my talent on the biggest stage. From Fort Greene Projects to USC, to the Chicago Bulls, and every team and city that came after, I’m grateful for every moment, every teammate, every coach, and every person who believed in me.

“I wanted to be the guy my teammates could count on someone who brought toughness, energy, leadership, and heart every time I stepped on the court … After 31 years of basketball, I can walk away with no regrets, knowing I left everything on the floor. God has truly blessed me.”

The Bulls first selected Gibson with the No. 26 overall pick in the 2009 NBA Draft out of USC. He earned All-Rookie honors in Chicago and finished fifth in the Rookie of the Year race. Gibson spent more than seven seasons with the Bulls, and was the runner-up as the Sixth Man of the Year during the 2013-14 campaign while averaging 13 points and 6.8 rebounds per game. 

Gibson jumped around a lot in the back half of his career, and ended up playing for the Oklahoma City Thunder, Minnesota Timberwolves, New York Knicks, Washington Wizards, Detroit Pistons, Charlotte Hornets and most recently the Memphis Grizzlies. Gibson appeared in 10 games for the Grizzlies last season, and became just the 35th player in history to make an NBA appearance while in his 40s.

Gibson was actually traded earlier this month to the New Orleans Pelicans, too. But at 41, Gibson opted to call it a career instead of fighting for an 18th season.

Gibson will now join Splitter’s staff in Chicago. The Bulls hired Splitter earlier this summer to replace Billy Donovan after a front office shakeup that saw both general manager Marc Eversley and vice president of basketball operations Artūras Karnišovas fired. Splitter spent last season as the Portland Trail Blazers’ interim head coach after Chauncey Billups was placed on leave and arrested for his alleged involvement in rigged poker games. Splitter led the team to the playoffs for the first time since 2021.

Splitter and Gibson are tasked with turning the Bulls around, which has been a tough task over the last decade or so. The Bulls went just 31-51 last season, and they’ve only been to the playoffs twice in the past 11 seasons. They’ve not won a playoff series since 2015, and have had only two winning campaigns over that span.

While it’s been a struggle in Chicago lately, it’s hard to argue there’s a better place for Gibson to start his coaching career.

by Editor

Kawhi Leonard trade to Toronto, agreed to in June, finally going through

Kawhi Leonard trade to Toronto, agreed to in June, finally going through

After being on hold for months awaiting a resolution in the Clippers salary cap circumvention investigation, the trade of Kawhi Leonard to the Toronto Raptors — agreed to back on June 30 — is finally going through, reports Shams Charania of ESPN.

This comes one day after Clippers owner Steve Ballmer released a statement saying he and the franchise would not fight the harsh penalties handed down by Commissioner Adam Silver and the NBA.

While the sides agreed to this trade in June, the Raptors put finalizing the deal on hold, waiting to see the outcome and punishments from the NBA’s investigation (they would have been on the hook if Leonard were suspended). Now that the report is done, the punishments have been handed down and accepted, and the Clippers have figured out who is heading basketball operations (though they haven’t officially announced it), the trade can and will move forward, as expected.

As a reminder, the trade details are:

• Toronto receives: Kawhi Leonard
• The LA Clippers receive: Brandon Ingram, Gradey Dick, two unprotected first-round picks (2031 and 2033), a 2027 first-round pick swap, two second-round picks (2030 and 2033).

This is a win for Leonard, who gets out of the glare of the Los Angeles spotlight and lands in a city where he helped win a title and is beloved. Leonard is expected to reach terms for an extension with the Raptors, although the timing is unclear.

While some pundits wanted to stir up the idea that the Clippers might try to hold up or change the trade — as punishment to Leonard, who got off with a slap on the wrist in all this — league sources had told NBC Sports (and we consistently reported) the deal was going to go through. Beyond the damage to reputations there would be for backing out of an agreed-to deal, this trade also works for both sides.

The Raptors get Leonard, an All-NBA player last year, averaging 27.9 points and 6.4 rebounds a night in 65 games. Putting Leonard at forward with Scottie Barnes (almost an All-NBA player last year, 18th in voting), RJ Barrett and Immanuel Quickley in what is a potentially dynamic and dangerous roster (if Leonard can stay healthy).

While the Clippers get a quality player in Ingram, the real draw here is the picks — Los Angeles lost five first-round picks in the punishment from the NBA, this brings a couple in the door. Whatever internal frustrations they may have with Leonard, the Clippers needed those picks and with that needed this trade.

by Editor

Taj Gibson retires after 17-year NBA career, joining Bulls as assistant coach

Taj Gibson retires after 17-year NBA career, joining Bulls as assistant coach

Taj Gibson has decided it was time to retire as a player after 17 seasons — but he is not stepping away from the NBA.

Gibson has announced his retirement on social media and will join the Chicago Bulls as an assistant coach under Tiago Splitter.

“I wanted to be the guy my teammates could count on someone who brought toughness, energy, leadership, and heart every time I stepped on the court.”

Gibson certainly was that.

Gibson was drafted in the first round in 2009 by the Chicago Bulls and played eight seasons for the franchise, finishing fifth in Rookie of the Year voting and being top-10 in Sixth Man of the Year voting three times (including second in 2014). With the Bulls he averaged 9.4 points and 6.4 rebounds a game.

After leaving Chicago he played in New York, Minnesota, Washington, Charlotte, Oklahoma City, Memphis and Detroit. This summer, the Grizzlies traded Gibson to the Pelicans, who then waived him.

Now he returns to Chicago, where he is beloved. Gibson made his mark in Bulls history and ranks fifth all-time in blocks (695), sixth in offensive rebounds (1,336), 10th in defensive rebounds (2,250), 10th in games played (562) and 12th in total rebounds (3,586).

Gibson has always had the basketball IQ and demeanor of a coach, and now he will learn under another former NBA big man turned coach in Tiago Splitter.

by Editor

Deshaun Watson’s awful interception on Browns’ first 2026 drive is a bad but predictable sign

Deshaun Watson’s awful interception on Browns’ first 2026 drive is a bad but predictable sign

Deshaun Watson won the Cleveland Browns’ starting QB job by default even after a terrible training camp filled with interceptions and a combative preseason press conference where he chastised the home fans for booing him. Expectations are extremely low for both Watson and the Browns entering the season, especially with a tough Week 1 matchup on the road against the rising Jacksonville Jaguars. Watson really needed a strong start to create some positive momentum, and big surprise, it didn’t happen.

On the Browns’ first offensive possession of the season, Watson threw an absolutely atrocious interception straight into the waiting arms of Jaguars defensive back Foyesade Oluokun. Some interceptions are excusable, but this one wasn’t. How did Watson not see Oluokun lurking to break up the route? A bad decision and a bad throw for Watson was not the way he wanted to begin the season.

Watch Watson’s interception here:

Watson’s interception came on the fifth play of the season for the Browns. I already feel bad for Cleveland fans if this is what they have to sit through all year. It’s never too early to start looking ahead to the 2027 NFL Draft, Browns fans.

It sure feels like Watson doesn’t even deserve to be in the league anymore. He definitely isn’t a starting caliber quarterback. It’s going to be a long season for the Browns.

by Editor

NetsDaily Off-Season Report – No. 22

NetsDaily Off-Season Report – No. 22

BROOKLYN, NY – JUNE 29 : Fans outside Brooklyn Basketball Training Center during an introductory Press Conference for the 2026 Brooklyn Nets Draftees on June 29, 2026 in Brooklyn, New York. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2026 NBAE (Photo by David L. Nemec/NBAE via Getty Images) | NBAE via Getty Images

Albert Ghim writes for No Ceilings, one of the more sophisticated NBA sites, and last week, he got a rare chance to check up on veteran players working out on the West Coast, particularly those charges of personal trainer Zach Gonzalez. Among those who he’s been focusing on in Gonzalez workouts and the runs at the NBPL’s new training facility in Playa Vista, an L.A. suburb. has been Egor Demin. To say Ghim is enthusiastic about the Nets second year guard would be an understatement. He just raves about him!

Ghim described how the 20-year-old has been working out in L.A.

“He is absolutely locked in, laser-focused, a man on a mission,” Ghim began. “He is so hard and ferocious on himself. I asked him what is your day-to-day look like right now. He’s working out with Zach in the morning, he playing the pro-runs at the new NBPA facility, getting in a lift. He’s doing extra workouts at night when possible.

“He’s going so hard. He is truly a man on a mission. This is a guy who knows where he needs to grow, spending a ton of time on his ball-handling, a ton of time on physicality, his jumpers, different types of jumpers — jumpers off movement, jumpers off the dribble. jumpers from the mid-range, from the outside, playing through physicality, embracing physicality. Initiating physicality is a big one to watch as well.

Ghim also spoke about how Demin has bulked up.

“For Brooklyn Nets fans who are watching this right now, I want you to know that Yegor’s body is absolutely destroyed. It is beaten. He is so hard on himself. He does not care if he’s hurt or if he’s slightly hurt or not feeling well, he is looking himself in that gym and to watch him work.”

And like Ben Saraf in an interview with the Jerusalem Post last week and Julius Randle’s Q-and-A at the Brooklyn Basketball Training Center Saturday, Demin told Ghim he and his teammates are dismissing the naysayers. Ghim recounted what Demin told him about how commentary about last season

“He said, ‘look we get it. We’re not idiots. We hear what people are saying on TV, saying we don’t want to win, we don’t care. We care,” Ghim quoted Demin.

Ghim also relayed what may have been the most interesting point of his 12 and a half minute commentary, how veterans are respecting Demin in the pro runs.

“Initially, early on, some of the veterans didn’t want him to play. They were like ‘he’s too young. we want to keep the younger guys off, keep it to veterans.‘ Then, he got in and he absolutely started torching guys. Guys like Norman Powell and Kyrie Irving have had a lot of praise for Egor. And in one of the games, he was playing with Norman Powell and he went off for like 30 plus and they won. And as he walked off the floor and they were all saying, ‘this kid is going to be an absolute problem’ and they are very, very impressed with him…

“He looks like a guy who absolutely wants to turn the narrative of the Brooklyn Nets. He’s already spent time in Texas with Julius Randle, working out with him, building that rapport, that relationship and he is a man on a mission that wants to bring Brooklyn back to winning basketball.” Ghim added. “He wants to be a leader. He wants to be a leader by example.

Finally, Ghim offered a little intel on the relationship between Demin and Mikel Brown Jr. who’s only a month younger than Demin.

“He’s telling me about Mikel and he’s saying, ‘Mikel is a freak.’ And the stuff Mikel cares about — his intel, his knowledge, his IQ of the game is extremely, extremely high. He feels like the fit between him and Mikel is going to be like a glove.

“It’s going to be a perfect pairing between the two and he’s talking about how Mikel has so much ability, on and off ball, which makes their pairing so interesting as Egor continues to grow as a ball-handler, as a creator himself. If I was a Brooklyn Nets fan, I’d be absolutely through the moon with the young core they’re building over there … Egor looks like a man on a mission and he’s coming for blood.”

Ghim’s No Ceilings colleague, Corey Tulaba, added that there’s other aspects of what’s going on with Brooklyn that need to be understood like the addition of Julius Randle who, despite Michael Porter Jr.‘s jump last year, is something the Nets — and Demin — didn’t have last year: an established NBA star.

“This is an all-NBA player who can make an impact on winning and has done that at multiple stops,” Tulaba argued. “So now, you’ve got a chance to go other there not just with a bunch of guys who are maybe learning how to play together or guys who are playing for themselves. You’re going to play with veterans who know what to do. They’re really building something cool in Brooklyn and it feels organic.”

To that point, Ghim noted that Demin shouted out other members of the Flatbush5, specifically Nolan Traore and Ben Saraf moving forward.

The two writers agreed that there’s not much likelihood that things in Brooklyn will take a big leap this year but as Ghim concluded, continuity should be a big help as they move along their NBA careers.

“The team feels they are building out a team of guys that can do stuff,” he noted. “Bring different layers, different styles as a team and them being so young as they are and building together and them really believing in themselves and the group that they have, obviously it won’t be this year, but in the next couple of years this may be a real team to watch in the East.”

But, wait, there was more!!

David Thorpe of True Hoop this week did a list of Ten guys who might make a big difference and he raved about the possibility that the Nets eighth youngest player, barely 22-year-old Noah Clowney, could have a breakout season. (We’ve written about Clowney several times this summer, most recently in these pages just a week ago but Thorpe’s analysis is new.)

The take has one fun fact we were unaware of which we highlighted as well as a possibility we hadn’t thought much about. Thorpe starts off by noting that he thought Clowney may have made a mistake declaring for the 2023 NBA Draft where the Nets took him with the 21st pick, making him the fourth youngest player in the NBA. He was also their first return on the Kevin Durant trade with Phoenix. But as he also notes, that’s what over the dam:

I thought it odd that Clowney left a terrific program at Alabama, fresh off a Final Four appearance, after one season. He was probably too young to succeed in the NBA, and could have made a ton in NIL money!

So last season he entered this tier of players from whom I had no idea what to expect. And out of those players … he impressed me more than anyone when I got to see him play in games. Only three players 21 or younger averaged at least 12 points and took at least 3.4 or more free throws per game: Clowney, Cooper Flagg, and Stephon Castle And he did that in only 27 minutes per game.

He is not a good shooter. But at 33 percent from 3, where he’s been for his two seasons, he’s not bad and there’s every reason to think he is due for a big improvement. He has a lot of game cutting, driving, slashing, and drawing fouls off those attacks. If his shot improves, I doubt it’ll be too long before he gets a chance to start ahead of Julius Randle. His defense will have to keep improving, but to me Clowney has the look of a starting level power forward who might even play some small ball five.

For the record, Clowney averaged 12.3 points on 40/33/80 shooting to go along with 4.3 boards, 0.8 steals and 0.7 blocks. As every Nets fan knows, there have been games or series of games where he’s gotten us all excited, like the final week of the 2023-24 season when he had games of seven and four blocks and the 14 games last season where had four or more 3-pointers go in, including games of seven and six in a 10-day, five-game stretch.

He does that consistently and his restricted free agency will be interesting come July. The Nets can match any offer he might get (and there were rumblings last season that the San Antonio Spurs might have interest.) Still, it was good to see the Thorpe analysis. He did not include rookies or second year players, it should be noted.

That’s your weekly dose of optimism. Now you can read what Channing Frye has to say about the Nets being “straight garbage.” We won’t. We’ve been inundated with the negative. We trying for balance.

Hair style updates

Combing the Internet this week, we found video of both Mikel Brown Jr. and Grant Nelson in barber chairs. No, nothing escapes the ND Dragnet…

We found the first on HoopChina…

And the second onFargo, N.D. barber Landon Lopez’s Instagram account…

Are these the final cuts? What you think?

Final Note

You won’t see Pooch’s byline on ND for a while. He and his new wife, Gabrielle Galluzzi, are on a honeymoon in the Caribbean! Anthony and Gabrielle were married Saturday afternoon at St. Francis de Chantal R.C. Church in Wantagh, N.Y.

The happy couple have known each other since childhood, attending the same schools.

We like all their friends wish the couple all the best! So congratulations!

by Editor

Nick Smith Jr, Real Madrid Nearing Deal

Nick Smith Jr, Real Madrid Nearing Deal

Nick Smith Jr. is nearing a deal with Spanish club Real Madrid. Smith played last season in the NBA for the Los Angeles Lakers. The 6-foot-2 guard had his free agent rights renounced as the Lakers made over a large portion of the roster this offseason.

Smith started his career with the Charlotte Hornets, after being a first-round pick in the 2023 NBA Draft. Smith was waived by Charlotte after two seasons. He originally started last season on a two-way deal with the Lakers before being promoted to a standard contract in mid-April.

by Editor

NBA Board Of Governors Expected To Discuss Clippers, Domestic And International Expansion

NBA Board Of Governors Expected To Discuss Clippers, Domestic And International Expansion

The NBA’s Board of Governors are expected to meet this coming Monday and Tuesday. The group of 30 team owners have no shortage of important topics to discuss.

In the wake of the massive punishments levied against the LA Clippers for their role in cap circumvention involving Kawhi Leonard, many owners are likely to have questions. Many are still unclear as to who will be the team’s acting governor and who is running the front office, with Steve Ballmer and Lawrence Frank both suspended. There are also open-ended questions about what the league’s mandated monitoring policy with the Clippers will entail. And, finally, the previously agreed-to trade between LA and the Toronto Raptors remains uncompleted.

On the expansion front, there are expected to be two different sets of discussions. One involves whether or not to move forward with expansion in Seattle and Las Vegas on the domestic front.

Internationally, there are expected to be updates, and possible decisions, on moving forward with NBA Europe. There is also the question of if the NBA will work with the existing EuroLeague, or if NBA Europe will be a direct competitor to the competition.

by Editor

NBA Offseason News/Rumors 2026: Devin Carter waived by Atlanta, may end up in Boston

NBA Offseason News/Rumors 2026: Devin Carter waived by Atlanta, may end up in Boston

In the slowest point of the offseason — at least until the NBA Board of Governors’ meeting next week — here is a quick weekend update on a few topics.

Derrick Jones Jr. not seeking trade

After the NBA brought the hammer down on the Clippers, fans across the league scurried to trade machines, thinking LA’s players would scramble to abandon a sinking ship. Nowhere is that truer than among the fans of that other franchise in Los Angeles, which did not land Jonathan Kuminga. Said fans are scrambling to come up with ways they think Rob Pelinka should upgrade their roster — often in ways not grounded in reality.

Enter Derrick Jones Jr. A solid veteran two-way forward, he could help 29 other teams around the league, so speculation started flying. One small problem: He hasn’t asked for a trade, nor is he expected to, notes plugged-in Clippers writer Tomer Azarly of Clutch Points.

As Azarly and others have noted recently, agents are constantly looking for ways to get their players paid more, or moved into a position where they get more playing time or a chance to chase a ring. It’s an agent’s job to think that way. However, it’s another couple of steps from there to a player pushing for a trade. Jones is in the final year of his contract at $10.5 million and could hit the free agent market next summer, but that always comes with risk. He could extend with the Clippers — clearly a team in a transition phase but a place Jones likes playing — on a tradable contract, then work with them when other teams come calling. Or, he could let the Clippers know he doesn’t intend to re-sign and that they should trade him at the deadline. Jones has options. A smart agent keeps all of those in play while working to get the client what he wants.

In this case, that does not mean a trade from the Clippers in the short term.

Hawks waive Devin Carter, Celtics interested

Back in June, Atlanta picked up a second-round pick from Sacramento for taking on Devin Carter’s $5.1 million salary. However, the Hawks have a roster crunch so they have officially waived Carter, who will become a free agent once he clears waivers.

Boston is interested in Carter, a point guard, reports NBA insider Jake Fischer. The Celtics have an open roster spot and the money to sign a player to a minimum contract (or slightly more), but Carter also has two-way eligibility, so Boston could be thinking about that if they want to keep that final roster spot open for flexibility.

Carter played two seasons in Sacramento, totaling 74 games, and last season averaged 8.9 points per game when he did get in, but he is not a floor-spacing guard and shot just 26.3% from beyond the arc. Would that be different in 3-happy Boston?

Worth nothing: Atlanta still has 16 players on guaranteed contracts and has to make one more move — a trade or waiving another player — before the start of the season.

Board of Governors meeting

Next Monday and Tuesday, the NBA owners convene in New York for a Board of Governors meeting, and this one should be interesting. On the docket:

• The Clippers findings and punishments. It’s unclear as of now who, if anyone, will represent the Clippers at this meeting. Also unknown is whether they plan to take this to court and fight the stiff punishments handed down by the league. One thing teams are asking about, according to Brian Windhorst at ESPN:

One topic rival front offices have discussed is the less-talked-about but draconian-sounding “compliance and monitoring program by the league office for a period of five years” penalty that was also leveled on the Clippers. The terms were nebulous, probably for a reason, and the devil will surely be in the details.

• Expansion. The NBA is in the process of vetting potential ownership groups for both Las Vegas and Seattle. What we know is there are more bidders for Vegas, the price tag is expected to be higher and it is expected to be approved first, with Seattle to follow. One interesting note about this from ESPN’s Windhorst:

Some teams have been projecting the per-team payout for expansion to be $500 million to $600 million, which would put the combined expansion fee at around $15 billion to $18 billion.

• NBA Europe. This is the one owners appear to care more about than domestic expansion, and the league is still on track to open NBA Europe in October of 2027. That said, there are still a lot of questions that remain.

Those start with a potential partnership with EuroLeague, the current peak of European basketball. EuroLeague team owners are meeting in Italy on Oct. 5, and there will be more clarity about that partnership (or lack thereof) after that, Windhorst notes.

The league will have 12 permanent members and another four teams that will play their way in. Exactly what that will look like and who the permanent members may be will come into focus in the coming weeks.

by Editor

NBA Franchise Net Revenue Lag Behind Soaring Valuations

NBA Franchise Net Revenue Lag Behind Soaring Valuations

League and ownership sources do not expect the recent surge in NBA franchise valuations to slow down anytime soon, suggesting the wave of team sales and ownership changes could continue at a similar pace going forward. The Los Angeles Lakers, Minnesota Timberwolves, Boston Celtics and Portland Trail Blazers have each been sold since the start of 2025.

“In any business where valuations rise at that level, there will be people who are attracted to the price and return,” said one ownership source.

Sources described a challenging financial reality facing many franchise owners despite soaring valuations. One ownership source in a smaller market characterized the disconnect between a team’s valuation on paper and its actual profitability.

“The problem with owning a team is you have something that’s worth an [expletive], and you don’t understand why it is, and it makes you little to no money all the time,” said one source. “And you’ve got to spend money, because if you don’t spend, the fans won’t come.”

The Lakers highlight the complicated math involved in team ownership. One source told The Ringer that the Lakers’ recent $12.5 billion valuation amounts to a price roughly 125 times the team’s approximate $100 million in annual profit, a return of less than 1 percent.

“You could put it in treasury bills and make 5 percent,” the source said.

While not referenced by The Ringer, sports owners significantly benefit from writing off the contracts of players as depreciating assets.

Profit margins are considerably tighter in smaller NBA markets, according to ownership sources. Under the league’s collective bargaining agreement, 51 percent of all basketball-related income is allocated to players. In some markets, sources said, the dollar amount spent on player salaries to meet that threshold actually exceeds 51 percent of the team’s total revenue.

Mark Cuban, who sold his controlling stake in the Dallas Mavericks in 2023 at a $3.5 billion valuation, said the day-to-day experience of NBA ownership has shifted dramatically as valuations have climbed.

“Running a team is a completely different beast now,” said Cuban. “Like I told Adam when I sold, the board of governors meetings went from being all about basketball and me bitching about the officiating to everything being about team valuations. It’s just different than it was. When I came in, it was like: All I care about is winning.”

by Editor