Connect with us

Indiana

How The Indiana Pacers Used Their Salary Cap Space To Get Better In Free Agency

Published

on

How The Indiana Pacers Used Their Salary Cap Space To Get Better In Free Agency


The Indiana Pacers were set up for a busy offseason before it even started. After a pair of draft trades moved them back a spot in the lottery and sent the 29th pick to the Denver Nuggets, the Pacers were set to have over $32 million in salary cap space to use in free agency.

That’s a ton, and with the new Collective Bargaining Agreement (CBA) being implemented on July 1, teams are strongly incentivized to reach the minimum team salary prior to the start of the regular season. That meant the Pacers needed to spend about $19 million in free agency on something. The hope for the team was that they could get something valuable.

Advertisement

“The team will look different next year. There’s no question about that,” Pacers head coach Rick Carlisle said during his exit interview back in April. “We’ve got some unrestricted free agents that may or may not be back.”

The Pacers needed to spend, and they were looking for upgrades. Improvement is a goal for the franchise in the 2023-24 season, and they needed to add talent. Grabbing one of the better free agents was a priority for the team.

Soon after the negotiation period for free agents opened up, it was revealed that the blue and gold had come to terms on a two-year agreement with guard/wing Bruce Brown. Brown, 26, won a championship with the Nuggets last season and averaged 11.5 points per game while playing excellent defense for the club.

The multi-year agreement is for $45 million in total, which looked like a high number at first. But with the salary cap rising — it’s over $136 million now — and the importance of quality play on the wing rising for competitive teams, it was a price that Indiana was more than willing to pay.

Advertisement

Indiana likely had to pay more to get a team option on the second year of the contract, but they were successful. If things go poorly this year for Brown, the team can decline his option and make him a free agent next year, which would open up cap space. If the partnership is successful, then they could keep the wing for another year. The team option is great for the Pacers, but it played a part in the higher average annual value of the deal.

“It really came out of nowhere,” Brown said of the agreement on Theo Pinson’s Run Your Race podcast. He thought he might get offers closer to the Non-Taxpayer Mid-Level Exception (MLE) at around $12.4 million over multiple years. “Sign it right away. Tell them right away, I’m coming,” Brown recalled telling his agent.

Instead of multiple years at the MLE, Brown got one guaranteed year at $22 million, and he has the potential to make more with Indiana. It’s a win-win deal, especially since the blue and gold had to spend their money somewhere.

The following day, it was reported that the Pacers were acquiring power forward Obi Toppin from the New York Knicks in a trade. In exchange, they sent a 2028 second-round pick (the worst of Indiana’s and Phoenix’s) and a 2029 second-round pick (the worst of Indiana’s and Washington’s) to the Knicks.

New York needed to clear a bit of money, and Toppin was not in their long-term plans. Indiana benefitted from that situation and were able to swoop in and grab Toppin for a low price. They took the forward into their remaining cap space without sending any salary away.

“I feel like this fresh start for me is going to be great… I can’t wait to get started,” Toppin said about being traded a few weeks ago.

Toppin is set to make $6.8 million in the 2023-24 season, the final year of his rookie-scale contract. He will be a restricted free agent in 2024 if the Pacers send him a qualifying offer next summer. Indiana has needed depth at the power forward position for a few campaigns.

Between Brown and Toppin, the Pacers used $28.8 million of their $32.2 million in space early in free agency. They would have left them with about $3.3 million of cap space remaining. But they made one more move.

Advertisement

Indiana traded Chris Duarte, and his $4.1 million in salary for the coming season, to the Sacramento Kings for two second-round draft picks (one from Dallas in 2028 and the other from Sacramento in 2030).

“I go wherever God takes me. If this is where he wants me to be, I’m happy,” Duarte said of being traded.

No salary came back to the Pacers in that trade, so it pushed the blue and gold to nearly $7.5 million in room. That’s where they sit right now.

When considering cap holds for James Johnson and George Hill, technically Indiana has about $3.45 million in cap space right now and going forward. But those can be renounced at any time and have very little value, so it’s more appropriate to say that the team has about $7.5 million to play with.

That could be used for many different things, such as renegotiations and extensions, signings, or taking in a player via trade. There are many directions the Pacers could decide to go with their cap room, and they could even carry it into the season.

Indiana’s offseason could slow down now that their roster is essentially filled out, but they were savvy with how they used their cap space in free agency. It will behoove them this season and beyond.





Source link

Advertisement

Indiana

Pornhub ‘ban’ in Indiana blocked by judge

Published

on

Pornhub ‘ban’ in Indiana blocked by judge


INDIANAPOLIS (WXIN) — A judge has blocked a new Indiana law from going into effect which would have effectively cut off Hoosiers from accessing adult content websites, such as Pornhub. In his decision, the judge called the law “likely facially unconstitutional.”

Previously, Indiana lawmakers passed Senate Bill 17 which was signed into law by Governor Eric Holcomb and set to go into effect on July 1. Under the restrictive bill, websites hosting “material harmful to minors” would have required Hoosiers to upload sensitive documents, such as driver’s licenses, in order to prove their age.

While proponents of the law argued the age-verification law was meant to protect minors from accessing explicit material, such as pornography, critics pointed out that the law was not only a potential violation of the First Amendment but also opened up Hoosiers to substantial risk of having their sensitive information and documents stolen.

Screenshot of the warning displayed on Pornhub’s page for Indiana users. (WXIN)

While Indiana Attorney General Todd Rokita defended the age-verification law as a “shield” to protect children from “the psychological and emotional consequences associated with viewing porn,” the Free Speech Coalition filed a lawsuit to stop the law from going into effect.

Advertisement

“We will continue to fight for the rights of adults to access the internet free of shame and surveillance,” said Alison Boden, executive director of Free Speech Coalition. “While they may sound reasonable on their face, laws like SB17 have effectively functioned as state censorship.”

On Friday, a judge with the United States District Court of Southern Indiana issued a preliminary injunction blocking the law from going into effect on July 1. In his decision, the judge concluded that the law “likely violates the First Amendment” and echoed many of its critics such as pointing out how the law could be easily circumvented with technology and the broad, vague scope of the law.

The vagueness of the law was previously called out by the ACLU of Indiana who sounded the alarm against the age-verification law and its vague use of “material harmful to minors,” which the ACLU speculated could go beyond just blocking pornography and be used to also block “age-appropriate LGBTQ+” or be used to censor sex education content.

The ACLU also pointed out how the law could be easily circumvented, needlessly putting Hoosiers’ sensitive information at risk.

“The worst part, the law won’t even work,” said the ACLU of Indiana. “Minors will just go to sites that aren’t regulated by Indiana law or use technology to bypass the verification method. A @CommonSenseMedia report found 6 in 10 older teenagers already use VPNs to browse the internet.”

Advertisement

As part of his decision, the judge wrote in defense of his injunction by stating, “Indiana’s legislature chose an ineffective and more broad method to protect minors from harmful materials than other alternatives. The First Amendment does not allow such imprecision.”

The injunction will remain in effect until a final judgment is made or a higher court dissolves the injunction.



Source link

Advertisement
Continue Reading

Indiana

Arby’s franchisee Miracle Restaurant Group files Chapter 11 bankruptcy. Are stores closing?

Published

on

Arby’s franchisee Miracle Restaurant Group files Chapter 11 bankruptcy. Are stores closing?


play

Arby’s franchisee Miracle Restaurant Group has once again filed for Chapter 11 bankruptcy and could sell multiple stores in three states, according to court documents.

Advertisement

Court documents show Chapter 11 bankruptcy was filed by Miracle Restaurant Group on June 20, 2024. The business was formed in 2005 and currently own and operates 25 Arby’s restaurants across Illinois, Indiana, Louisiana, Mississippi and Texas.

Several restaurants have been filing for Chapter 11 bankruptcy or closing stores in 2024, including Red Lobster, Hooters, Tijuana Flats and Alamo Drafthouse to name a few.

Hooters closing 2024: Locations are closing; 2 restaurants near Louisville among dozens closed

The court documents for Miracle Restaurant Group state:

“In September 2023, the Debtor sold three of its stores located in Indiana and used the proceeds to pay down its notes with First Franchise Capital Corporation (“FFCC”), the LH Mortgage, and the U.S. Small Business Administration (“SBA”). The Debtor’s remaining two stores in Indiana remain operating.”

Advertisement

Additionally, stores in other states are also being impacted:

“The Debtor intends to continue to market and sell its seven Texas Stores, eight Illinois Stores and two remaining Indiana Stores through the Bankruptcy Process, and to focus on its Louisiana and Mississippi Stores. To accomplish this, the Debtor has retained Peak Franchise Capital, LLC as financial advisor to assist in marketing the Debtor’s stores.”

CEO Donald Moore declined to answer questions about the bankruptcy when contacted by phone. In the filing, Moore notes he has “experience in senior officer roles at public and private restaurants since 1990.”

Red Lobster closing 2024: Red Lobster lists 99 restaurants closed in 28 states: See locations closing in your state

Advertisement

Here’s what to know:

Is Arby’s filing for Chapter 11 bankruptcy?

No. Franchise operator Miracle Restaurant Group is filing for bankruptcy and owns 25 Arby’s locations in Illinois, Indiana, Louisiana, Mississippi and Texas.

Who owns Arby’s?

Arby’s is owned by Inspire Brands. They own several restaurants including Baskin Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s and SONIC.

Are Arby’s restaurant locations closing via Miracle Restaurant Group’s Chapter 11 bankruptcy?

No. Miracle Restaurant Group is attempting to sell the remaining locations in Illinois (8), Indiana (2) and Texas (7), according to court documents.

Has Miracle Restaurant Group filed for Chapter 11 bankruptcy previously?

Yes, this is Miracle Restaurant Group’s second Chapter 11 filing. The franchisee used to own 60 Arby’s franchise locations before filing for Chapter 11 bankruptcy in 2010, according to court documents. A number of stores were closed after the plan was confirmed and all creditors were paid in full under the plan.

Advertisement

What Arby’s restaurant locations could be closing in Illinois, Indiana and Texas?

Miracle Restaurant Group has not confirmed a list of store closings or which restaurants are being sold. Below is a list of locations posted on the website at mrgarbys.com/locations.htm. Three Indiana locations were sold in September 2023, but which stores were sold is unclear.

Arby’s restaurants in Illinois related to Miracle Restaurant Group

  • 6000 Northwest Highway, Crystal Lake, IL 60014
  • 1169 Dundee Ave., Elgin, IL 60120 – CLOSED
  • 340 North York Road, Elmhurst, IL 60126
  • 1874 E. Belvidere Road, Grayslake, IL 60030
  • 2307 Jefferson, Joliet, IL 60435 – CLOSED
  • 9550 W. 179th St., Tinley Park, IL 60477
  • 1800 N. Richmond Road, McHenry, IL 60050 – CLOSED
  • 520 Townline Road, Mundelein, IL 60060 – CLOSED
  • 7001 W. Dempster Ave., Niles, IL 60714
  • 2539 Greenbay Road, North Chicago, IL 60064
  • 139 N. Northwest Highway, Palatine, IL 60067 – CLOSED
  • 1331 Golf Road, Rolling Meadows, IL 60008 – CLOSED
  • 776 Rollins Road, Round Lake Beach, IL 60073

Arby’s restaurants in Indiana related to Miracle Restaurant Group

Arby’s restaurants in Louisiana related to Miracle Restaurant Group

Arby’s restaurants in Mississippi related to Miracle Restaurant Group

Arby’s restaurants in Texas related to Miracle Restaurant Group

  • 7222 I-40 W., Amarillo, TX 79108
  • 4020 82nd St., Lubbock, TX 79423
  • 5052 Frankford Ave., Lubbock, TX 79424 – CLOSED
  • 5711 19th St., Lubbock, TX 79407
  • 7701 I-40 W., Suite No. 208, Amarillo, TX 79109 – CLOSED
  • 5214 S. Western St., Amarillo, TX 79109
  • 2422 19th St., Lubbock, TX 79401 – CLOSED

Chris Sims is a digital content producer for Midwest Connect Gannett. Follow him on Twitter: @ChrisFSims.





Source link

Continue Reading

Indiana

Your nature-themed photos and art could land on an Indiana hunting or fishing license

Published

on

Your nature-themed photos and art could land on an Indiana hunting or fishing license


Indiana residents can submit their photographs and art to serve as a new background for state licenses with a new contest.

To aid Hoosiers purchasing Indiana hunting, trapping, and fishing licenses, starting early next year, Indiana will offer an option to purchase a durable card that withstands harsh outdoor conditions.

In conjunction with the project, the Indiana Department of Natural Resources has launched an art and photo contest that highlights nature and wildlife-themed art from state residents.

Advertisement

From July 1 through Aug. 2, Hoosiers can to submit up to two pieces of their Indiana-based, nature- and wildlife-themed artwork to DFWcontests@dnr.IN.gov. All 2-D art mediums including photography, painting, drawing, graphic design and more are eligible. Art generated by artificial intelligence is not allowed.

Four artists’ works will be chosen and the artist’s name and city will be credited on the cards and e-gift certificates. The full list of contest guidelines is at events.IN.gov/event/DFWCardContest.

The new durable license cards will be an extra cost compared to the current printable licenses that will continue to be available for free.



Source link

Advertisement
Continue Reading

Trending