Five Lessons WNBA Players Can Teach You About Business
» Posted on December 21st, 2011 in WNBA | No Comments »
I know what you’re thinking: “What can WNBA players teach me about business?”
Thoughts are running through your head about the league suffering from low attendance, TV viewership and sponsorships. Not to mention you’ve heard countless rumors about the WNBA being a drain on the NBA’s resources.
Let me stop you right there. Those thoughts are far from reality.
The truth is that during the WNBA’s 15th season it experienced an increase in attendance and TV viewership, and the league landed a marquee sponsorship with Boost Mobile. As for resources, several WNBA owners have said that despite the economic downturn their teams are on pace to turn a profit within the next several seasons.
So, what can WNBA players teach you about business? A lot.
It’s a little-known fact that more than 90% of WNBA players are college graduates. For many reasons the concept of “one and done” doesn’t exist in the WNBA. As a result the league is full of players who are not only skilled on the court, but also in the classroom.
WNBA players are not going to college to bide their time until they are eligible for the pros. They’re going to college because they know that life on the basketball court won’t last forever.
Recently, I caught up with four WNBA players (Cappie Pondexter, Tammy Sutton-Brown,Essence Carson, and Asjha Jones) who are all “business” on and off the court.
Here are five lessons that WNBA players can teach you about business:
What A Difference A Year Makes
» Posted on December 11th, 2011 in Uncategorized | 1 Comment »
Today is the one year anniversary of my Achilles Tendon injury. I played competitive sports for years, and I never suffered anything other than a few bumps and bruises. Finally, one day I decided to play a little pick-up basketball and then I heard the unthinkable – a pop in the back of my foot.
After swelling and three doctor’s visits later I found out that my pick-up bball days were done (at least for awhile) and I would need surgery. The first surgeon that I met with was just that – a surgeon. I left his office even more scared than when I entered. After that day I decided that I could find a surgeon who was talented and had a the kindness that I needed. Then I met Arthur Manoli.
Dr. Manoli and his staff guided me through the process and treated me and my family with patience and kindness. Later I found out that Dr. Manoli is a world renowned surgeon who performs surgeries on professional NBA athletes.
Once I had my surgery, I spent three weeks off of my feet. During this time I was encouraged by my sister to productively use my time off. I took her suggestion to heart and started blogging for Forbes.com. Well from there my entire world took off and I consciously decided that the injury would be the best thing that ever happened to me…and it was!
Since then I’ve written 18 stories for Forbes. Covered the WNBA All-Star Game, WNBA Playoffs, and WNBA Finals. Interviewed the WNBA President and three owners.
And while I was off of my feet, I learned that I’m truly blessed (health insurance is awesome) and my family/community really care about me.
Long story short, my entire world took off and I am such a better person for it!
Here’s my foot journey from beginning to end! …
At home right after the rupture. It's swelling already.
My new boot.
Last year all I wanted for Christmas was a good surgeon.
That's my mom telling me everything would be alright. Meanwhile I'm smiling through the fear.
My post surgery cast. It was huge. I didn't go anywhere for 3 weeks.
Finally the stitches came out. Ouch!
Back on my feet again. And my first interview with a Detroit Piston!
Here's my one legged scooter. It looks funny but it is the BEST invention ever!
Fast forward...I ended the year celebrating a WNBA Championship with an old college teammate!
Trade Off: Is It Time For The NBA To Sell The Hornets?
» Posted on December 11th, 2011 in NBA | No Comments »
Yesterday, the NBA announced that its new10-year collective bargaining agreement was ratified by its Board of Governors. The league (entering its 66th year) and will begin its 66-game season on Christmas Day.
At the same time as the announcement, the basketball world was buzzing over the three-team trade deal that would have sent NBA All-Star Chris Paul ($16,359,805 million) to the Los Angeles Lakers.
(Lakers: G Chris Paul; Rockets: F/C Pau Gasol; Hornets: F Lamar Odom, F Luis Scola, G Kevin Martin, G Goran Dragic)
Last week, Paul notified Hornets General Manager, Dell Demps, that he was not interested in signing a long-term extension with the team.
What’s a GM to do?
Find a new home for your young superstar and get quality players in return. Endure a long season with an unhappy star, disrupt the continuity of your team, and probably have no choice but to trade your star anyway (i.e. Denver Nuggets and Carmelo Anthony). Or hope that your star will have second thoughts, but at the same time run the risk of losing everything during free agency (i.e. Cleveland and “The Decision”).
The Hornets front office chose to trade Paul before the start of training camp, because they know what’s coming; and by all accounts this would have been a good deal for the Hornets.
Except of one tiny detail, the NBA owns the Hornets and declined the trade.
The NBA purchased the team last December from founder George Shinn who sold due to heavy debt and wasn’t able to secure a local buyer for the team. Ironically, Shinn moved the team from its long-time home in Charlotte (founded in 1988) to New Orleans in 2002. At the time of the sale last year, the league valued the franchise at over $300 million with hopes to keep the team in New Orleans.
What happened to the trade deal?
Last night, there was speculation that other NBA owners were upset by the trade that would have put two of the top NBA superstars, Paul and Kobe Bryant, together. Although, the league issued a statement that the owners didn’t kill the deal and the trade was declined for “basketball reasons.”
Ultimately, trading Paul could have done a few things: (1) devalued the franchise because we all know that losing a franchise player has that effect; (2) impact the league’s ability to get a proper return on its invest; (3) anger the 10,000 plus season ticket holders who bought ticket not only to cheer for a team that includes Paul, but also as a commitment to keep the franchise in the Big Easy –Yes, a public relations nightmare.
While Paul probably won’t be a Hornet after this season, the league made the right move by not letting him go. In post-Katrina New Orleans there are too many economic, public relations, marketing and basketball reasons to keep Paul at “the point” another season.
Now that the season ticket mark was surpassed and a new CBA is in place, hopefully the league can find the right Bayou buyer and sell the Hornets.
Who knew that one trade could mean so much?
Good Night Sports Fans,
Alana
NBA Inks New Collective Bargaining Agreement
» Posted on December 8th, 2011 in NBA | No Comments »
It’s official! The NBA Board of Governors and players ratified a new 10-year collective bargaining agreement. The 161 day Lockout was very tense and for a moment we all thought that the entire season would be lost.
Now with this new agreement, a 66 game season will begin on Christmas Day and training camp opens tomorrow!
Here’s the official overview of the deal that the NBA announced today via NBA.com…
KEY AGREEMENT POINTS
The following are the key points agreed to by the NBA and the Players Association in their new 10-year collective bargaining agreement:
• Players and owners agreed to a 50/50 split of basketball-related income (BRI). However, depending on BRI, players can receive as high as 51% or as low as 49%.
• The Salary Cap will remain soft and has been set for the 2011-12 season at $58.044 million.
• The maximum length of a player contract will be reduced by one year, from six years for a team’s own players and five years for other players, to five years and four years, respectively.
• Salaries in new player contracts may increase by up to 7.5% per year for a team’s own players and 4.5% per year for other free agents. Read the rest of this entry »
Why The NBA Lockout Wasn’t So Bad After All
» Posted on December 4th, 2011 in NBA | No Comments »
We can all agree that the NBA Lockout didn’t shed the greatest light on professional basketball; and in a perfect world I imagine that NBA Commissioner David Stern and NBAPA Executive Director Billy Hunter would have preferred an uneventful labor negotiation.
Instead, we endured a five-month roller coaster; and in the United States where the median household income is $49,445 per year, it was extremely difficult for most NBA fans to sympathize with millionaires and billionaires arguing over money.
Nevertheless, just when we thought the “Nuclear Winter” was coming and bringing with it irreparable damage to the sport we all love, cooler heads prevailed and the NBA saved Christmas. Now that basketball is here to stay (at least for the next 6-10 years), when I look back at the Lockout I realize that it wasn’t so bad after all.
Here’s why…
ESPN’s Jimmy V Week For Cancer Research
» Posted on December 1st, 2011 in NCAAM | No Comments »
“Don’t give up, don’t ever give up.” – Jimmy V
If you’ve been watching ESPN during the last few days, you’ve probably noticed that it’s Jimmy V Week For Cancer Research.
Just who was Jimmy V and what is the Jimmy V Foundation?
Jimmy V was a dynamic men’s basketball coach. In 1983, his NC State team shocked the basketball world (and the University of Houston) by winning the NCAA Men’s Championship. Most people don’t remember Jimmy V for his coaching, but for his 1993 ESPY award speech when he inspired the audience to support cancer research.
Today, there are 28 million cancer survivors around the world. The Jimmy V Foundations strives each and everyday to raise money and find a cure for cancer. Donating is easy and every little bit helps. Visit www.JimmyV.org
Good Night Sports Fans,
Alana
Steve Smith, Former NBA Player, Talks the ‘Business of Basketball’ and the Lockout
» Posted on October 30th, 2011 in NBA | No Comments »
As the NBA Lockout enters day 122, NBA fans now have a daily reminder that their beloved sport is indeed a business.
I have to admit, I have been “half-following” the lockout. My relationship to the lockout has been similar to occasions when I am “half-listening” to someone who is talking to me while I am intensely watching a basketball game.
Now that 100 regular season games have been cancelled and more games appear to be in jeopardy, I figured that it is time to turn my undivided attention to the NBA. And what better way to start off than to talk one on one with a former NBA veteran.
Recently, I spoke with Steve Smith, who spent 14 seasons in the league and won a championship in 2003 with the San Antonio Spurs. Smith is a proud Michigan State University alumnus, and his 1997 $2.5 million donation to MSU was the largest gift by a professional athlete to an alma mater. He is humble when it comes to his many accomplishments, and he credits former coaches Jud Heathcote, Johnny Goston, and Roy Haywood for being instrumental in his success as a professional athlete.
Here’s more from Smith about the business of basketball, the lockout, and life after the NBA…
How Billionaire Glen Taylor Won A WNBA Championship
» Posted on October 17th, 2011 in WNBA | No Comments »
Glen Taylor, the self-made printing entrepreneur with an estimated net worth of $1.8 billion, is widely known as the majority owner of the NBA’s Minnesota Timberwolves (acquired in 1995).
Early this month, Taylor (Forbes 400 #242) ended Minnesota’s two decade professional sports championship drought by winning the 2011 WNBA Championship with the Minnesota Lynx.
Here’s how he did it…
Patience and commitment to the WNBA. In 1999, Taylor became the operating owner of the Lynx, and subsequently in 2002 he transitioned to majority owner. Throughout the franchise’s history, Taylor was often criticized for financing a team that only made it to the playoffs twice. However, he was known for saying that equal opportunity for women athletes was the right thing to do, and he knew from the beginning it would cost him money. According to the Twin Cities Pioneer Press, the Lynx have been losing about $1 million annually, but after its successful playoff run the team could break even for the first time in its history.
Game 3 WNBA Finals: Win or go home for the Atlanta Dream
» Posted on October 9th, 2011 in WNBA | No Comments »
The following article was originally published on 10/7 via Forbes Sports Money
Tonight is Game 3 of the 2011 WNBA Finals, and it’s “win or go home” for the Atlanta Dream, who are down 0-2 in this best of five series
against the Minnesota Lynx.
The Lynx entered the Finals with the best record in the league, and they used every bit of their home court advantage (which included more than
15,000 cheering fans — the second and third largest crowds in franchise history) to take Games 1 and 2.
But don’t think that the Dream are just going to hand the trophy over to the Lynx. They will have to earn a “W” in the sold-out Philips Arena when
Lindsey Harding, point guard and former No. 1 draft pick, and all-star forward Angel McCoughtry take the court.
McCoughtry, known for her emotional play, must use that to her advantage while continuing to lead the team in scoring (Game 2: 36 points and a Finals record). And all Dream fans are hoping that the return of forward/center, Erika de Souza, (who briefly left to qualify for the Olympics with the Brazilian National Team) will be the difference maker.
Needless to say, Game 3 will be one to watch!!
Here are a few of my highlights from the 2011 WNBA Finals…
Maya Moore channels Dr. J. Yup, the WNBA is a below the rim game, but you better believe that Moore’s amazing reverse lay-up
would make Dr. J proud. Moore wasn’t even born when Dr. J made that move in the 1980 NBA Finals. It’s only her rookie season, and I can’t wait to see what she has in store next year.
Take The Quiz: What Type Of WNBA Fan Are You?
» Posted on October 9th, 2011 in WNBA | No Comments »
- WNBA President Laurel Richie – WNBA Finals Press Conference
The following article was originally published on 10/3 via Forbes Sports Money
Last night was Game 1 of the WNBA Finals (Minnesota 88, Atlanta 74).
The Atlanta Dream and Minnesota Lynx didn’t disappoint the 15,258 fans who rocked the Target Center and those who watched it on ESPN.
Did you catch the game?
Did you see Seimone Augustus’ “smooth as butter” shooting? How about Angel McCoughtry’s quickness and intensity?
If you watched the game, why did you watch? What keeps you coming back for more? If you missed it, what stopped you from watching?
If you’re unsure, take the quiz below. This will give you all of the answers that you’re looking for…. Read the rest of this entry »
