Sports

Cavaliers Break the Bank on Day 1 of Free Agency

Published

11 years ago

July 2, 2015

In this April 19, 2015, file photo, Cleveland Cavaliers head coach David Blatt, left, talks with Kevin Love (0) during an NBA playoff basketball game in Cleveland. A person familiar with the decision says Love has opted out of the final year of his contract and will be a free agent on July 1. (AP Photo/Mark Duncan, File)

JON KRAWCZYNSKI, AP Basketball Writer

Cleveland Cavaliers owner Dan Gilbert promised LeBron James he would do whatever it took financially to surround him with a team capable of ending the city’s 51-year championship drought.

On the first day of free agency, Gilbert spent nearly a quarter of a billion dollars to back that up. All without addressing James’ contract yet.

The Cavaliers agreed to terms with Kevin Love on a maximum contract of five years and more than $110 million and gave swingman Iman Shumpert a four-year, $40 million deal, two people with knowledge of the negotiations told The Associated Press on Wednesday. The people requested anonymity because the deals had not been announced.

It was also reported by several outlets, first by ESPN, that forward Tristan Thompson will sign a five-year, $80 million deal, bringing Gilbert’s financial outlay to a whopping $230 million before the NBA’s fiscal year was even 24 hours old.

The contracts cannot be signed until July 9, when the salary cap is established and it becomes clearer just how steep a tax bill Gilbert will be facing. But that was all part of the plan when James decided to return home last summer. He made it clear what his expectations were, and Gilbert didn’t hesitate to oblige.

After James carried the injury-plagued Cavaliers through the playoffs to a six-game loss to Golden State in the finals, he chose not to exercise the option on his contract for next season and become a free agent. He never intended to leave, but the message was clear: make it happen.

Gilbert and GM David Griffin certainly did on Day 1.

The day started with Love announcing in The Players Tribune that he was coming back to the Cavaliers after a few weeks of speculation that he could head somewhere else after one year with the Cavs. Love’s season ended with a dislocated left shoulder in the first round of the playoffs and he had some testy moments with James in their first season together, but he made it clear on Wednesday that Cleveland is where he wanted to be.

“We’re all on the same page and we’re all in,” Love wrote. “We have unfinished business and now it’s time to get back to work.”

The Lakers, Celtics and Suns were among the teams believed to be interested in Love, who was viewed by many across the league as gettable after he struggled at times to find his place with James and Kyrie Irving. But he was spotted at a pool meeting with James and other teammates earlier this week, a meeting he alluded to in the piece he published on Wednesday.

“Yeah, of course I’ve heard the free agency rumors,” Love wrote. “But at the end of the day, and after meeting with my teammates (it turns out pools are great meeting places) and with the front office, it was clear Cleveland was the place for me.”

After being the face of the Timberwolves franchise for six seasons, Love had a difficult time adapting to his new role as the third wheel in Cleveland. His averages of 17.5 points, 10.4 rebounds and 13.5 shots per game were all the lowest since he came off the bench as a rookie in Minnesota, and every tweet and quote between him and James was heavily scrutinized and dissected to try to decipher how the two All-Stars were getting along.

Love said all along that he just wanted to win, and the Cavs turned a worrisome 19-20 start into a blazing 34-9 finish to surge to the No. 2 seed in the Eastern Conference. Just as Love was figuring out how best to play with James and Irving and his team entered the postseason for the first time in his seven-year career, it all came to an end.

Celtics forward Kelly Olynyk pulled Love’s shoulder out of its socket during their tense first-round series, ending Love’s season.

Irving was injured in Game 1 of the NBA Finals, and James carried the Cavaliers the rest of the way. Watching from behind the bench made Love even more determined to return healthy and give James the help he needs.

“After Game 1 of the NBA Finals, that’s when it really struck me,” Love wrote. “Sitting on the sidelines, I never wanted to play in a game more than that one. I had dreamed of playing in the NBA Finals and I just wanted to help my guys win. I couldn’t have been prouder of them as they poured their blood, sweat and tears onto the court.”

While Love was the scorer from outside and the flashy outlet passer, Thompson provided the toughness and hustle in the paint. He averaged 9.6 points and 10.8 rebounds in the playoffs and James said in the postseason that the rugged Thompson, who is represented by the same agency as James, should be a Cavalier for life.

Shumpert was a key addition midseason, coming over with J.R. Smith in a trade with the New York Knicks to give the Cavaliers some perimeter defense. The fourth year of his deal is a player option.

“You don’t buy jewelry in this league, you earn it,” Shumpert posted on Instagram while shouting out his agency, Relativity Sports. “Be back soon Cleveland.”

So, too, will King James.

Now that Gilbert has spoken with his wallet and kept the team together, the path is cleared for James to sign another contract.

Oakland Post

Posts by Oakland Post

Up Next

Wimbledon Lookahead: 1 Win Apiece Sets Up All-Williams Match

Don't Miss

Warriors Reportedly Keep Draymond Green with Five-Year, $85 Million Deal

Oakland Post

Click to comment

Business

Sale of Coliseum to African American Developers Moves Toward Completion

The deal includes the sale of the Oakland Arena to an unidentified third-party buyer for no less than $100 million, which Bobbitt said was one of the most important aspects of the site’s future redevelopment.

Published

2 weeks ago

June 16, 2026

bpusa-syndication

The deal includes the sale of the Oakland Arena to an unidentified third-party buyer for no less than $100 million, which Bobbitt said was one of the most important aspects of the site’s future redevelopment.

‘This is on the precipice of actually occurring,’ said Ray Bobbitt, buyers’ representative

By Post Staff

After many months of complex negotiations, the Oakland Coliseum development deal is finally nearing an agreement that will open the way for new owners – the African Americans Sports and Entertainment Group (AASEG) – to revitalize the sports complex and the Hegenberger Corridor in East Oakland.

On May 28, the Alameda County Board of Supervisors unanimously approved a non-binding agreement to dispose of the County’s portion of the complex for $115 million in a deal with AASEG, with a closing date set for June 30.

“People are seeing that this is on the precipice of actually occurring,” said Ray Bobbitt, founder of the AASEG and an East Oakland native. “People feel that this needs to happen for Oakland, for East Oakland in particular,” Bobbitt said, as reported in the East Bay Times.

The agreement would transfer ownership of the 112-acre Coliseum complex property, which was owned 50-50 by Alameda County and the City of Oakland, to Oakland Acquisition Company, which is AASEG’s real estate wing.

The County’s approval marks an important step in the sale of the property, even though concerns about environmental liability remain. Under the terms of the non-binding agreement, the county will pay $115 million to Coliseum Way Partners, the corporate entity of the Oakland Athletics that had previously purchased the county’s half of the property for $85 million.

AASEG will then pay $115 million to the County in three annual payments, with 5% annual interest paid on any outstanding balance, according to the term sheet.

AASEG already negotiated a purchase of the city’s half of the property for $125 million in 2025, awaiting the sale of the county’s half.

A strong supporter of the sale, Supervisor Nate Miley said he was not “breaking out the champagne” until the sale was final. This is not perfect, but it is good.

“It’s good because the County ends up with more money,” Miley continued. “It’s good because an African American team takes ownership of the property, and they’ve got a lot of potential in terms of what they want to do with the property.”

A remaining disagreement between Alameda County and the AASEG involves environmental concerns.

AASEG wanted a “carve-out” for environmental concerns so that it would not face liability for the release of groundwater into San Francisco Bay without a permit. Obtaining a permit could be time-consuming and expensive, requiring the need for consultants, studies, and an oversight process by the San Francisco Bay Regional Water Quality Control Board.

County supervisors unanimously supported the non-binding agreement without the carve-out, though Bobbitt said delaying or excluding the carve-out creates timing risks for the project.

“The motion is to accept the terms as presented, excluding the carve-out,” Board of Supervisors President David Haubert said. “Noting that it’s a non-binding term sheet and terms can always be discussed going forward. It’s been pointed out that that could affect the deal, timing, which we’ve been at this for nine years, but what’s a little more time?”

“The arena represents an anchor of the site,” said Babbitt. “This arena … has become a pop culture mecca, and the opportunity to enhance that and expand that is critical to the overall process.”

Speaking at the Board of Supervisors meeting, Miley explained the County’s reasoning behind some of the complex negotiations. He asked interim County Counsel Andrea Weddle:

“In layman’s term’s who’s on the hook for the environmental (cleanup)” under the current deal with the Oakland A’s?

“When the county with a former board entered in the deal with the (A’s), we took on all of the environmental obligations,” Miley said. “Since then, we’ve learned a lot more about the environmental conditions of the Coliseum.”

“If we do a deal with Coliseum Way Partners (the A’s), we remain on the hook,” she said. “If we do a deal as we’ve currently structured with OAC (AASEG), we have eliminated some or hopefully all (or) as much as we can of that liability and aligned our deal with the terms of the city.”

Bobbitt, despite his concerns, supported the nonbinding agreement. He said the public has waited nearly a decade to come to this point.

“The community support has been overwhelming,” he said. “We’ve used a lot of P-words: patience, perseverance, persistence. And we’ve just had to do it, and we understand how complex this has been.”

bpusa-syndication

Posts by bpusa-syndication

Alameda County

Seth Curry Makes Impressive Debut with the Golden State Warriors

Seth looked comfortable in his new uniform, seamlessly fitting into the Warriors’ offensive and defensive system. He finished the night with an impressive 14 points, becoming one of the team’s top scorers for the game. Seth’s points came in a variety of ways – floaters, spot-up three-pointers, mid-range jumpers, and a handful of aggressive drives that kept the Oklahoma City Thunder defense on its heels.

Published

7 months ago

December 4, 2025

Oakland Post

Seth Curry is a point guard on the GSW team.Photo courtesy of the Golden State Warriors.

By Y’Anad Burrell

Tuesday night was anything but ordinary for fans in San Francisco as Seth Curry made his highly anticipated debut as a new member of the Golden State Warriors. Seth didn’t disappoint, delivering a performance that not only showcased his scoring ability but also demonstrated his added value to the team.

At 35, the 12-year NBA veteran on Monday signed a contract to play with the Warriors for the rest of the season.

One of the most memorable moments of the evening came before Seth even scored his first points. As he checked into the game, the Chase Center erupted into applause, with fans rising to their feet to give the newest Warrior a standing ovation.

The crowd’s reaction was a testament not only to Seth’s reputation as a sharpshooter but also to the excitement he brings to the Warriors. It was clear that fans quickly embraced Seth as one of their own, eager to see what he could bring to the team’s championship aspirations.

Warriors’ superstar Steph Curry – Seth’s brother – did not play due to an injury. One could only imagine what it would be like if the Curry brothers were on the court together. Magic in the making.

Seth’s debut proved to be a turning point for the Warriors. Not only did he contribute on the scoreboard, but he also brought a sense of confidence and composure to the floor.

While their loss last night, OKC 124 – GSW 112, Seth’s impact was a game-changer and there’s more yet to come. Beyond statistics, it was clear that Seth’s presence elevated the team’s performance, giving the Warriors a new force as they look to make a deep playoff run.

Oakland Post

Posts by Oakland Post

Barbara Lee

WNBA’s Golden State Valkyries Kick Off Season with Community Programs in Oakland

“The Golden State Valkyries are more than a team—they’re a movement,” said Oakland Interim-Mayor Kevin Jenkins. “Their touchdown in Oakland marks a new era of opportunity, inspiration, and equity in sports. This partnership reflects our city’s deep commitment to uplifting women, investing in youth, and building a community where every dream has a place to grow. We’re proud to welcome the Valkyries to The Town.”

Published

1 year ago

May 18, 2025

Oakland Post

The Valkyries came to Oakland City Hall with a “Hoopbus.” Present were (from left to right): City Councilmembers Noel Gallo, Rebecca Kaplan, Zac Unger and Rowena Brown; Oakland Mayor-elect Barbara Lee, Valkyries President Jess Smith, a Valkyries team representative and Deputy Mayor LaNiece Jones. Photo courtesy Rebecca Kaplan’s office.

Team installs new nets at playgrounds, holds flag-raisings at City Halls in Oakland and S.F.

Special to The Post

The Golden State Valkyries brought the excitement of their inaugural season to every corner of the Bay Area with a full slate of community celebrations leading up to their historic home-opener against the Los Angeles Sparks at the Chase Center in San Francisco on Friday.

The week featured flag-raising ceremonies at city halls in Oakland and San Francisco, three “Violet Net” installation days at Oakland parks to encourage basketball play, fun “Hoopbus” takeovers at multiple schools presented by Kaiser Permanente, and player appearances.

In total, 90 violet nets were installed on 45 basketball courts across 34 public parks throughout Oakland this week. A list of the parks receiving violet nets can be found at Valkyries.com.

About the Golden State Valkyries

The Golden State Valkyries, the WNBA affiliate of the seven-time NBA Champion Golden State Warriors, were announced as the 13th WNBA franchise on Oct. 5, 2023. According to Norse mythology, Valkyries are a host of warrior women who are fearless and unwavering – flying through air and sea alike.

This brand is Golden State’s modern interpretation of Valkyries: strong, bold, and fierce. Tipping off during the 2025 WNBA season, the team is headquartered in Oakland and will play home games at Chase Center in San Francisco. For Golden State Valkyries’ assets, including team logos, visit valkyries.com.