Another Sign Points to Kings Desire to Leave Sacramento

[Superman]

Please tell me exactly what the fans have done that consitutes doing their best to keep the Kings? Bash the Maloofs constantly, like they are devils incarnate? Turn their back on the team by providing the worst attendance in the league? Have fans been organizing, holding rallies and participating in writing campaigns to counter the outspoken naysayers and anti-arena folks. Nope, none of it. We couldn't even get more than a few (5) people on this site to take an interest in working on a campaign to get an arena and keep the Kings.

Fourteen years the fans have had to get behind a new arena for this team. Just how long do you think the Maloofs should wait and not be able to have a competitive team?

Exactly. How long should they wait? A(nother) developer says "wait, we're gonna get this done," so MSE just kills all plans they have? Again?

I don't know why the Maloofs haven't provided whatever documents they're being asked for, but I'm in an office that moves a lot of documents back and forth, and it's not hard for me to imagine that the developer already has whatever it is that they're asking for. As a matter of fact, when I originally read the comment from the Maloofs that they would provide all the studies and research they've collected for the past 11 years, as the article recalls, I thought it was more a comment of "what else can we show you to prove that we need a new arena? We've been doing this for years now..." than "yes, we'll sit down and collaborate with you while you pour over these same numbers ... again." That horse is dead.

I don't know whether the Maloofs have already made their mind up or not, but if they have, it's certainly not been a cavalier decision. If Taylor and ICON are going to put together a proposal to build an arena, I'm pretty sure they can do so without a portfolio of documents from the Maloofs.

 

[bajaden]

Then why aren't they giving ICON the data?

They have never been "excited" about the recent ICON develpments - never issued a shred of pr about it.

IMO, they have decided to file weeks (if not months) ago.

What I don't get is how they plan on pulling this off without becoming even more bankrupt than they already are. They fail at almost everything they touch. They sold daddy's business last year (the only real profitable revenue stream they had). I fail to see how 150m in fees to relocate the team to a different area is going to save the Kings and the Palms.

They have cried about not getting a new arena, but then want to move (borrowing more money they don't have) to a "non-new" arena and fan base?

Makes zero sense...

Of the 100 million they would borrow, 70 million would go toward paying off their debt to the city. So essentially they wouldn't be taking on 70 million dollars of new debt, only moving it to another city and another debt holder. The remaining 30 million would go toward their relocation fee's. In the deal they get a new venue in which to play, along with the possibility of corporate sponsers.

For the record they haven't failed in everything they touch. Only one of their businesses is a problem, and its a big problem. Thats the Palms. And thats mostly due to the economy going down the drain. They expanded at the wrong time. Mostly bad luck with the timing, but it is what it is, and thats why they sold a very sucessful dristributer business. I know none of this means anything to you, because you don't care. Because you, in your infinite wisdom thats backed with superior intelligence, look at the Maloofs as idiots and bungling fools. The view must be great from up there.

 

[Showtime]

Of the 100 million they would borrow, 70 million would go toward paying off their debt to the city. So essentially they wouldn't be taking on 70 million dollars of new debt, only moving it to another city and another debt holder. The remaining 30 million would go toward their relocation fee's. In the deal they get a new venue in which to play, along with the possibility of corporate sponsers.

For the record they haven't failed in everything they touch. Only one of their businesses is a problem, and its a big problem. Thats the Palms. And thats mostly due to the economy going down the drain. They expanded at the wrong time. Mostly bad luck with the timing, but it is what it is, and thats why they sold a very sucessful dristributer business. I know none of this means anything to you, because you don't care. Because you, in your infinite wisdom thats backed with superior intelligence, look at the Maloofs as idiots and bungling fools. The view must be great from up there.

They don't have to pay off the loan in one payment. They can continue to make payments as usual, unless there's a stipulation of the initial loan that says otherwise. So you don't have to assume they lose 70 mil right off the bat. Also, relocation fees are discretionary, and can be waved entirely by a vote from the NBA.

Another factor: now that the lakers have that new 3 billion network deal, that leaves an entirely new prospect for the kings to get a lucrative tv deal, since they won't have to compete with the lakers.

 

[bajaden]

They don't have to pay off the loan in one payment. They can continue to make payments as usual, unless there's a stipulation of the initial loan that says otherwise. So you don't have to assume they lose 70 mil right off the bat. Also, relocation fees are discretionary, and can be waved entirely by a vote from the NBA.

Another factor: now that the lakers have that new 3 billion network deal, that leaves an entirely new prospect for the kings to get a lucrative tv deal, since they won't have to compete with the lakers.

I agree on the loan, but it would be wise to pay it off and not have two loans they have to pay off. They've always stated that they don't mix money from one business with the money from another. So one would have to believe that they wouldn't use any of the 100 mil to help with their problems on the Palms. And if not, then what would they use the money for?

 

[twosomeca]

I am really sad to see this. I live in Orange County and work up and down the west coast. I've been a non-posting member here for a long time. My wife is from Sacramento with family there and in Roseville. I have been in your city several times per year for the last 14 years. While I am one of those people who almost never drives up to L.A. to watch an NBA game and have always thought the Clippers should move to Anaheim, I am not in favor of the Kings moving to the Pond (Honda Center). The NBA fan base here is largely apathetic, and to the extent that there are NBA fans here, they are Laker fans. Recently, I was cruising a neighborhood in South OC where new houses are going in (can't really sell, though). Dude is putting in a Lakers sports court right next to his putting green overlooking Saddleback. Really nice. Of course, I hate the Lakers and just rolled my eyes. Most other people that live in this well-heeled neighborhood could give the first cr*p about the NBA, and they won't care about the Kings in OC. Of course, these same people may sometimes attend a game on rare occasions because of their kids pulling them there. It's a lot easier to cruise up the 5 to the 57 to catch a (NHL) Ducks game than to drive all the way into downtown L.A., especially on school nights.

I was here when the Seahawks tried to move from Seattle. I was against that as well. Oddly enough, I am very pro-OC, even though I am not a native of the state. And while I do want to see an NBA tenant at the Pond and have wanted to see that since the building opened in 1993, I don't want to see it this way. I hope you guys are able to get this settled and keep the team in the Sac Valley. I like eating at the Rubios in Natomas and then cruising to your arena for a game. Simple, yes, but doable and practical. Good luck with it.

 

[Section 101]

If you own a business, and I have. The only thing that matters is making a profit. If you don't make a profit, you go broke and then you don't have a business. They're not running a charity orginization. What don't you understand about that. Has everyone bought into this give away mentality? That you don't have to earn anything anymore? Do you think the people of sacramento deserve a team just because they want one. Wishing or wanting doesn't accomplish anything.

This is very simple. ARCO will soon become an arena that will be good for only one thing, and thats being torn down. The city, and yes, the Kings need a new arena. Why? Because thats where the Kings play their games, and thats where other events are put on display. Now if you can no longer play your games in ARCO, and you don't have another arena in place, then your only option is to go somewhere they do have an arena. Comprende? The Maloofs have been very patient, but all good things come to an end. Their finances are being stretched, and regardless of what loyality they might have to sacramento, their own self preservation is going to come first.

From your remarks, its obvious that you don't give a damm about them or their problems. So you tell me why they should give a damm about you. Its your type of attitude thats the problem in sacramento. And yes, I realize that your in Yuba City.

Ya know it's kinda of ironic that all they would be doing is moving about 10 years into the past. The Honda center isnt that much better off than the current arco. They maybe only buying a few years before being in the same situation. The seating capacity is basically the same. It does have more suites, but no idea how many more actual seats for the suites.

Parking Arco 11,000 spaces
Honda Center 4500 spaces

Big difference in parking.

Oh, and if OC and the Honda center is such a great market then why hasnt Sterling moved the Clippers there? Since he is big on making money more than winning you would think if it were such a good market he would be there already.

http://www.hondacenter.com/HondaCenter.aspx?page=AboutUs.aspx

Building Facts
· Construction start date: June 1991

· Opening date: June 19, 1993

· Building original cost: $103 million

· Building final cost: $123 million

· Architect: Hellmuth, Obata & Kassabaum (HOK)

· Building owner: City of Anaheim

· Management: Anaheim Arena Management, LLC

Seating/Configuration/Parking/Function Room Capacities

· Hockey Capacity = 17,174

· Basketball Capacity = 17,608

· · Total Number of Suites = 83

· Function Rooms include the Vista Rooms and Board Room.

· The Jack Daniel’s Old No. 7 Club is located on the Private Club level.

· There are a total of 4,500 parking spaces at Honda Center

 

[twosomeca]

Ya know it's kinda of ironic that all they would be doing is moving about 10 years into the past. The Honda center isnt that much better off than the current arco. They maybe only buying a few years before being in the same situation. The seating capacity is basically the same. It does have more suites, but no idea how many more actual seats for the suites.

Parking Arco 11,000 spaces
Honda Center 4500 spaces

Big difference in parking.

Oh, and if OC and the Honda center is such a great market then why hasnt Sterling moved the Clippers there? Since he is big on making money more than winning you would think if it were such a good market he would be there already.

http://www.hondacenter.com/HondaCenter.aspx?page=AboutUs.aspx

Building Facts
· Construction start date: June 1991

· Opening date: June 19, 1993

· Building original cost: $103 million

· Building final cost: $123 million

· Architect: Hellmuth, Obata & Kassabaum (HOK)

· Building owner: City of Anaheim

· Management: Anaheim Arena Management, LLC

Seating/Configuration/Parking/Function Room Capacities

· Hockey Capacity = 17,174

· Basketball Capacity = 17,608

· · Total Number of Suites = 83

· Function Rooms include the Vista Rooms and Board Room.

· The Jack Daniel’s Old No. 7 Club is located on the Private Club level.

· There are a total of 4,500 parking spaces at Honda Center

You can park across the street and begin access to Angels parking areas, so the parking number is a misnomer. Sterling is Mr. L.A. He is an L.A. developer. He doesn't want to drive to Orange County to watch his team. This is well-chronicled about him, which you can easily find on the web. I have been saying for years that the Clips should move to OC. They are the THIRD tenant at Staples, THIRD. And he is satisfied with that. A few years ago when they did the lease, Staples made it difficult for him in the hopes of getting him out such that the building would be shared between the Lakers and Kings (NHL). Nope. The Don would not budge. Took a poor deal just to stay in "L.A.". I hate that guy. As for The Pond (HC) itself, it was awesome when it opened, but I agree it is starting to show it's age and is not a long-term solution for the Kings, but in this economy, what is? The only arena out there that is truly better is the new Sprint Center in KC. Obviously, the Maloofs don't want to take the Kings back there.

 

[Kingster]

No city has "the money" to be paying for a new arena. That is not how it works. Unless you are in LA or NY, a private financing solution probably won't pencil out. It's largely done with a combination of things like specific taxes, redevelopment funds, etc. Property is also one of those things that can be used. But it's misleading to think that Sacramento is unique because they are poor. There isn't a city general fund on the planet that can build one. And yet somehow cities smaller than Sacramento can manage to put together these deals all the time. Where Sacramento doesn't seem to be able to perform is not in money, it's in the area of cooperation and organization. This area is governmentally dysfunctional to the point of near paralysis on just about any big issue. They have had this problem in good economic times as well.

When I refer to the city not having "the money" I mean the taxpayers aren't willing to have their taxes increased (because they don't have the money). I agree about the systemic governmental dysfunction. If we had a regional government (that was shot down years ago by the electorate), then we probably wouldn't have this problem. Economy of scale would have made it palatable to the regional electorate.

 

[JB_kings]

I would really like to know what Samueli is offering the Maloofs. He owns the LLC that manages the Honda Center. How much was he willing to give up in order to attract the team? Frankly he would probably rather own an NBA team and maintain control. This is where I would be very careful if I was a Maloof. He may be setting the family up to grab control of the team.

 

[Kingster]

The Maloofs can't get financning in their current state, and its hard to see them wanting to float another couple hunder mil in loans while the ones they took out on th Palms are threatening to bankrupt them.

But the general approach you suggest is actually what all fo the arena plans of recent vitnage have depended upon -- basically 5 years ago the people of Sac shot down directly using current taxes to build an arena, so to close the duning gap the city and other proposals have mostly focused on land swap deals -- instead of giving somebody money to build an arena, its been about giving somebody land in exhcange for them building an arena. Developers though, not the Maloofs.

In a normal economy the Maloofs could double-escrow the non-arena land to other developers and could potentially get a large amount of capital for their arena. Unfortunately, this is the worst possible economy to do that right now; the commercial real estate market sucks.

 

[Section 101]

You can park across the street and begin access to Angels parking areas, so the parking number is a misnomer.

But who gets that money? If the maloofs are to get parking money from games do they get money from the Angels parking area's too or is that the Angels money?

 

[Superman]

But who gets that money? If the maloofs are to get parking money from games do they get money from the Angels parking area's too or is that the Angels money?

That would be in the fine print. I would assume they'd split it somehow. The Angels get a cut of the profit, the staff is paid out of the receipts, the rest goes to the ownership of the Kings (which I would assume would come to include Samueli).

Edit: It's $8 to park at Angels Stadium, so you figure 6,000 cars in that lot on game day (because the Honda Center has 4,500 spots), and that's $48,000 in receipts from the Angels lot alone. Figure 25% of that goes to employee costs, they pay the Angels another 25%, and that's potentially $24,000 in parking revenue, 41 nights a year. Just shy of $1 million annually, assuming sell-outs, just from the auxiliary lot.

The problem might be that baseball and basketball season overlap for about two weeks in April, plus the playoffs, and then maybe three games for the World Series. So there would have to be some creative scheduling, which would be a bigger issue for the spring baseball games than anything else.

 

[Rockmeister]

Right now I am watching KCRA and News10 and have heard that K. Johnson is even less optimistic that the Kings will stay.

 

[ArcoKings]

This really sucks for the Kings fans up there. I always had hope that something would get done. We'll have to wait and see if the filing comes on March 1st... or before.

 

[Warhawk]

This really sucks for the Kings fans up there. I always had hope that something would get done. We'll have to wait and see if the filing comes on March 1st... or before.

Or not at all. I think everyone is treating this as a foregone conclusion when it, as of right now, isn't.

 

[Circa_1985_Fan]

As far as I'm concerned just get it over with...so the healing process can start. If there's a savior out there, I doubt they'd wait this long to let themselves be known. It's over...the NBA is dead to me right now. Please just tear down Arco Arena the day after the season is over, that will make it easier if we don't see a big part of what once was.

 

[IfAt1st]

Don Geronimo started his show with a "Kings News Watch", and has been insinuating that there is big news coming in regards to the Kings and a change of location.
He specifically said they had a staff meeting and were told NOT to say anything on air about the Kings until the news was broken by some other specific source.

 

[Amaranth]

Don Geronimo started his show with a "Kings News Watch", and has been insinuating that there is big news coming in regards to the Kings and a change of location.
He specifically said they had a staff meeting and were told NOT to say anything on air about the Kings until the news was broken by some other specific source.

Did he sound happy or upset?

 

[Circa_1985_Fan]

Did he sound happy or upset?

Just get it over with already...make the stupid announcement!

 

[IfAt1st]

as if I can guess the mind of Don (I hate what he does on his show).

But he certainly was eager to want to talk about the news, making countless "any news yet? .... Not yet, Don" comments.

It certainly seems like he wants to talk about the Kings moving to another city, since he's been riffing on "The Cairo Kings" and "The Kings playing on Mars" most of the show as far as I could tell...

 

[Amaranth]

as if I can guess the mind of Don (I hate what he does on his show).

But he certainly was eager to want to talk about the news, making countless "any news yet? .... Not yet, Don" comments.

It certainly seems like he wants to talk about the Kings moving to another city, since he's been riffing on "The Cairo Kings" and "The Kings playing on Mars" most of the show as far as I could tell...

Wait, so he actually wants them to move? And he sounded excited?

 

[IfAt1st]

Wait, so he actually wants them to move? And he sounded excited?

How am I supposed to know if Don wants them to move?
It gives him something to fill up his meandering endless talk-radio time with.....

This is a "man" who gets excited talking about a scat-porn site, for hours, on the radio - what goes on in his mind is anyones guess.

 

[swisshh]

Don is likely trolling

 

[bibbinator]

I've seen this coming for a long time. Sac doesn't have the money or will for a new stadium and the Maloofs have much of their net worth tied up in the Kings. However they feel about Sacramento they aren't going to martyr themselves for it.

The NBA needs to fix itself if it wants to foster serious competition and not just have 5 super teams and 25 designated losers.

So Kings are building with great players. Feels safe to assume that guys like Reke and Cousins pay their dues here and end up on a super team at the end of their contracts. LBJ showed the way.

 

[swisshh]

The NBPA reportedly suggested a change to the draft where the playoff teams don't get first round picks and the lottery teams get two first rounders. There has been some talk of adjusting this to a less extreme proposal, but it's an interesting proposal. It could create parity UNLESS they don't throw in something like a franchise tag for NBA owners. Without that, it just turns the bad teams into farm teams for the glamor teams and you have a MLB problem.

 

[Fireplug]

KHTK, as the voice of the Kings, probably has some sort of contract riders that request that the station not say things detrimental to the team (which makes sense because the radio station's fortunes are tightly linked with the team.) My take on the show today is that they were told it is OK to comment on facts already reported, but to limit the speculation on behalf of perhaps a request from the team. Don doesn't have the ties to the team as a newcomer to the area, but Carmichael Dave, Don's sidekick, has been as fierce a supporter as the Kings have ever had. He got his start in radio as a regular caller in to the post game shows forever ago, after all. They are definitely talking about the team move and not the Landry trade when they are joking about "not spilling anything." And they are cracking jokes because, at least in Dave's case, he would be crying otherwise.

 

[funkykingston]

My guess is that the Maloofs are announcing that they've filed for relocation.

They can still withdraw it and I think they'll listen to the last ditch effort from Taylor & ICON, but I think this train is leaving the station.

 

[Circa_1985_Fan]

Wait, so he actually wants them to move? And he sounded excited?

He and his former partner in crime used to dog on Sac alot on their show...basically calling us all retards, so it wouldn't surprise me if he isn't excited about this because he knows bleeding heart fans like ourselves will be butt hurt with them leaving...makes for good radio, ya know.

 

[Circa_1985_Fan]

My guess is that the Maloofs are announcing that they've filed for relocation.

They can still withdraw it and I think they'll listen to the last ditch effort from Taylor & ICON, but I think this train is leaving the station.

Yessir, I do believe you're right. They can save the drama as far as I'm concerned...

 

[Fireplug]

Grant Napear, who is also an employee of KHTK, is currently on twitter posting pictures of the arena in Orlando (which looks amazing) and just now said, "Let's get it done Sacramento." I'd like to think that he would have also known of the staff meeting at his own station if it were regarding the arena and wouldn't still be endorsing us to build an arena after the fact. What he did tweet, right after Don's "announcement" was "Carl Landry on his way to Nola." I'm still going with my bet.

I'm not sure if you have been listening, but it has all been based around the arena talk. Who knows what really was said, but if I was forced to guess I would say that Maloofs would prefer to be involved with any final announcement, and spin job, when and if it comes whether in is an actual announcement of a move or an ultimatum that they have filed and will go if a last ditch effort doesn't appear. I think they definitely would have preferred if the original news hadn't got out so early and were blindsided a bit (thus their silence) and nothing good can come from the people of Sacramento having to decide to throw money at tickets for a lame duck team for the rest of the year.

On another note, I went to Ticketmaster to try to buy tickets to the possible last game for my family of 5 and available tickets even in the very last row for that game are $100 a piece with the surcharges. I love and want to support the team but I just can't justify spending $500 for a couple hours of entertainment in this economy and trying to send kids to college. I am truly sorry that I can't do that, Maloofs.