NBA News – August 11, 2009

Dwyane Wade buys $1.4 million Chicago townhouse

Ex-Nuggets forward Kleiza joining Greek team

Cavs close to signing Powe

Dwyane Wade buys $1.4 million Chicago townhouse

Has Dwyane Wade purchased his Chicago dream house as a prelude to signing a free agent contract with the Bulls next summer?

Or is Wade just a clever real estate speculator at a good time?

Prying eyes want to know. And at least basketball franchises in Chicago and Miami.

ChicagoMag.com’s real estate blog reported Monday that Wade has purchased a four story riverfront townhouse in Kinzie Park, which is just west of the Loop across the river from the East Bank Club. The price is said to be about $1.4 million, which hardly seems like what you’d pay for an occasional getaway place back in your hometown if you are planning to establish roots in Miami by signing a major extension.

Or is it?

You never can say never with NBA players since Wade should be earning at least $17 million a season once he signs an extension or leaves as a free agent. So then what’s a little $1.4 million second (or third) home? The list price was $1.7 million.

http://blogs.bulls.com/chicago_bulls_blog/2009/08/dwyane-wade-buys-14-million-chicago-townhouse.html

Ex-Nuggets forward Kleiza joining Greek team

Chris Dempsey – The Denver Post

Roster losses should be over for the Nuggets, who now need to start adding players.

Linas Kleiza’s departure from the Nuggets to Greek team Olympiakos on Monday for a two-year, $12.2 million contract means the Nuggets have lost six players off their roster from this past season. Steven Hunter, Dahntay Jones, Sonny Weems, Johan Petro and Jason Hart are gone, too, because of trades or free agency.

The Nuggets have added draft pick Ty Lawson and traded for forwards Arron Afflalo and Malik Allen. Some of the team’s recent moves appear to have been done to save money, but the savings are not as much as they might seem.

While $6.1 million in salary is out the door with the loss of Kleiza and Hunter, the Nuggets have just 10 players under contract at about $69 million. Every team must carry at minimum of 13 players. So salary will be added back onto the roster, no matter whom the Nuggets sign.

And there is considerable work to be done. The Nuggets are trying to bring back guard Anthony Carter, who is an unrestricted free agent. Carter was seeking a multiyear deal but may have to sign a one-year contract for the veteran minimum, which for him would be $1.3 million.

"We’re definitively trying to sign A.C.," Nuggets vice president of basketball operations Mark Warkentien said.

http://www.denverpost.com/nuggets/ci_13033913


Cavs close to signing Powe

Free-agent forward Leon Powe will sign a two-year contract for the league minimum with the Cleveland Cavaliers on Tuesday if the team’s doctors are satisfied with the progress of his injured left knee, a league source said.

Powe tore his anterior cruciate ligament and cartilage in his knee during Game 2 of the Boston Celtics’ first-round series against the Chicago Bulls. He had reconstructive surgery on May 5 – his third major knee surgery – and has been rehabilitating in Los Angeles. Powe hopes to be back on the court by this season’s All-Star break, and the Cavaliers are willing to take a low-risk gamble on him pending the results of his physical.

The Cavaliers will hold the option for the contract’s second season.

Powe averaged 7.7 points and 4.9 rebounds last season for the Celtics, but became an unrestricted free agent when Boston didn’t make him a qualifying offer.

http://sports.yahoo.com/nba/news;_ylt=AgAsOShD8fRsaw0C_Iffnu28vLYF?slug=ys-powecavs081009&prov=yhoo&type=lgns

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