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Monday Madness: The Latest NBA News

Since the dawn of time, the NBA news and rumors have fascinated fans worldwide. The world of the NBA league is constantly evolving. One day a shocking trade happens, and the other, a top player gets injured. The NBA brings along some shocking news and rumors that keep fans on their toes. This article will shed light on some of the latest NBA news and rumors that have been recently circulating in the world of basketball.

The Latest NBA News and Rumors

Below are some of the latest NBA sports news and updates:

Ex-NBA Guard Terrence Williams Sentenced to 10 Years

Brown Wooden Gavel on a Wooden Table

Since the beginning of the year, NBA fans have been eager to learn more about the rumors circulating Terrence Williams. Williams is a renowned player among black athletes in sports. He gained fame when he was first drafted 11th overall in the NBA draft by the Brooklyn Nets in 2009. However, his glory days ended when he was accused of defrauding the Health and Welfare Benefit Plan by the NBA.

The authorities believed that Williams had stolen $5 million from the NBA. He was incarcerated in 2022 for allegedly sending threatening text messages to a witness. Unfortunately, the world stood a standstill for all Williams fans when the NBA player was sentenced to 10 years for healthcare fraud.

Before reading the verdict out loud, the judge said that Terrence Williams had used his people skills to trick others into a $5 million health care fraud. He accused Williams of abusing the Health and Welfare Benefit Plan by the NBA. Before his hearing, the authorities had been working on securing proof of how Terrence Williams had ripped off the Health and Welfare Benefit Plan with help from a California-based dentist and doctors from both Washington State and California.

The investigators found proof of how Williams had carried out his plans by submitting fraudulent invoices to the NBA. The court held the healthcare professionals working with the NBA star for creating these invoices. The judge handling Williams’s case spoke about how the NBA player had earned substantial earnings during his time playing for the NBA.

He expressed his disappointment on how the NBA star was set for life and still felt the need to steal money from the organization that helped him achieve success and fame. He ordered Williams to forfeit over $650,000 and pay approximately 2.5 million in restitution.

Wyc Grousbeck Not Interested In Selling the Celtics

The rumors of Wyc Grousbeck selling the Boston Celtics have been circulating the world of NBA news and rumors for quite some time. Grousbeck bought the Celtics for a whopping $260 million in 2002. As the years progressed, the NBA franchises climbed to unthinkable values. Michael Jordan’s over $3 billion profit after selling his stake in the Charlotte Hornets is a great example of the value of NBA franchises today.

According to Forbes, the Celtics are worth at least $4 billion and stand fifth in the list of the most valuable NBA franchises. However, Grousbeck recently put the rumors of his plans to sell the Celtics to a rest. After he was questioned about his long-term plans for the franchise, he expressed his love for the Celtics and explained how he is in this for the game and not for the money.

Portrait of Michael Jordan on a Wall

Michael Jordan Makes a Cool 2.7 Billion

The NBA star Michael Jordan has earned around $94 million in NBA contracts in his career. However, he continued to expand his net worth even after retiring in 2003. Recently, the basketball legend earned $2.7 million after trading his stake in the Bobcats (Charlotte Hornets).

This sale now makes Clayton private equity firm co-president and Tall Woods Capital LLC’s chief investment officer Gabe Plotkin the new Charlotte Hornets owner. However, Michael Jordan will continue to have a minority stake in the team. According to reports, Schnall and Plotkin were immediately given the controlling interest in the team after the approval of the sale by the NBA.

The deal hit the world of sports news and updates in June. However, it was not until this month that it received approval. The new owners paid $3bn for the franchise, which stood at $1.7bn at the beginning of 2023. Jordan had paid approximately $275 in 2010 for a controlling stake in the Charlotte Hornets. However, his decision to sell the stake earned him a profit of $1.7bn in 2023. Hence, it is safe to say that he cashed out.

A Basketball Ring in the Dark

Ben McLemore Signs a One-Year Deal with the AEK Athens

On Aug 7, 2023 Ben McLemore announced his one-year deal with AEK Athens. The player last played for the NBA in the 2021-2022 NBA season. He played over 64 games with the Rip City (Portland Trail Blazers). Later, McLemore signed with Shandong Hi-Speed Kirin at the beginning of 2023.

He played over nine games in China after failing to land an opportunity in the NBA. He also organized a private workout in July 2023 in Las Vegas and worked alongside several renowned teams like the Knicks. The player has played for several teams, including the Lakers, Grizzlies, and Kinds, from 2013 to 2022.

His decision to head to Europe and play alongside AEK Athens can be instrumental in his professional career. The AEK Athens has been a part of the Greek Basketball League dominated by Panathinaikos and Olympiacos for the last 30 years. The team also competes in every Basketball Champions League.

NBA news and rumors

Los Angeles Lakers and Miami Heat Not Considering Sign-and-trade Candidates for Christian Wood

According to sources, the Lakers have shown interest in signing Christian Wood. However, they have made their intentions clear by keeping their offer limited to the veteran minimum for the league. Nevertheless, Dallas is open to a sign-and-trade for Christian Wood in case the Mavericks get a player of their liking. That being said, neither the Heat nor the Lakers consider Christian Wood a potential sign-and-trade candidate.

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