"Seattle did not want to have anything to do with building a new arena. They now have a law on their books that prohibits city-financing of any kind or amount in arenas or stadiums. Why anyone thinks they will build one now, I have no idea. Can it be done in the suburbs outside og the city? That's a really big unknown.
Last I read, by the way, the Maloofs own 51% of the Kings. "
When Ballmer offered 150 million to renovate the Key Arena in 2008 it by far met the criteria for I-91 in Seattle and in fact they supported it publicly. The return had to be like 3.5% for the city to contribute tax dollars. I-91 was passed when Howard Schultz wanted 220 million from the city to renovate the Key while contributing only 20 million of his own money. Ballmers contribution was 50% of the arena cost. I-91 isnt even legally enforcable according to many at the time and a little known fact is i-91 has expired, it was only for two years anyway when passed and only applied at the time for the city limits of Seattle with city tax dollars. This would not prohibit a new arena on county owned land within Seattle with county tax dollars. Fast forward to today and the arena rumors are for a privately built arena in Bellevue anyway.
The Maloofs own 43% controlling interest in the Kings.
"I can't honestly think of a team that was sold in the modern sports era without plenty of public speculation that a transaction was imminent. Can you? Sure some come together quickly while others take years, but there's always whispers. A move could come suddenly but even then we're talking about a town that has largely been in denial about its arena shortcomings for over a decade. "
Try Seattle Supersonics in July of 2006, not a soul was aware of impending sale, not one inkling of press regarding it with the exception of an SI article 5 months before while Shultz was in Olympia trying to get legislation for key Arena Tax dollars for expansion was it mentioned he would sell the team. But that was more of a percieved threat than anything for the state to cough up some cash.
"Living in the PacNW I can say for certain that the Sonics move was telegraphed long in advance. Vancouver I also remember was considered a disaster and everyone knew they were getting out though it did happen suddenly."
The Sonics move was telegraphed, AFTER THE SALE of July 06, if you recall they had 4 years left on the lease at the time,so since the sale was announced it was telegraphed, as everyone knew at that point they were gone. Thats a big difference in what you were implying. As for Vancouver, Micheal Heisley bought the team and assurred the city they were staying, again if you recall the prior owners had a deal to sell to a buyer whose intentions were to move the Grizzlies right away, but the NBA denied the sale much to the releif of Vancouverites. Only 6 months later they were sold to Heisley who said they were staying, and they did. For a year!!!!!!!!!!! and he moved. That was a shock as well, not telegraphed publicly. At the time the canadien dollar was so weak against the US dollar he couldnt compete. Today it would be different and Stern has even said that was his biggest mistake as commish. That market had pretty damn good attendance for a woeful team. I beleive their last year it dipped to around 13.5k,(i dont have the figures exactly,not as bad you would think though)
"The Maloofs have said before in rather personal tones that selling the Rockets was one of the greatest regrets they ever had and that now that they owned the Kings they weren't going to let an NBA franchise go easily. That to me is worth a lot more than the standard non-denial denial that you get out of families shopping their team. "
thats a quote from several years ago, at the height of their wealth. Things change man. Nows its time to buckle up and pay the piper. Sorry to be a downer but the writing is most definetly on the wall.
