Potential Anaheim Lease For Sacramento Kings Released; Centerpiece Is $50 Million Loa

[Section 101]

I thought the only thing they didn't turn over was some of the financial information. My suspicion is they want no one to know their financial situation. Just guessing about what specifically they didn't turn over.

Correct.

I get the feeling that their financial situation is much worse than reported. I bet they are using the Kings profits to keep the Palms current. So the reason they havent been spending money on the Kings is because of the Palms.

Yes Kennadog they say they are seperate, but we know they dont always tell the truth anymore.

 

[RookieOfTheDay]

Years? Ha, they were opposed to wait one month and provide financials to a serious effort. And it was the most serious effort in over 5 years. I'm sorry but the NBA "help" and the Cal Expo thing was the longest of long shots. Stern and everyone with lick of common sense knew this. So when we all finally got the clue that pubic support would be needed after the last convergence plan, and the city council started talking publicly that they agreed. Then it's time to split town? You got the dang city finally getting real and it's suddenly time to go?

That's what's so bass ackwards about it. The Maloofs have always claimed to want to stay in Sacramento. Well, now they have they best environment and most support yet and they're going to bail out before the clock even winds down? It makes no sense. If they really wanted to keep the team in Sacramento they'd give it one more year at least to see what happens. The fact that they won't do that makes me think they really must be on the verge of bankruptcy. it's just wrong that they can defy the wishes of the other Kings owners and walk out on the city like that. If they can't afford the team they should be required to sell it.

 

[ArcoKings]

I thought the only thing they didn't turn over was some of the financial information. My suspicion is they want no one to know their financial situation. Just guessing about what specifically they didn't turn over.

Probably true. The financial information may get out to the public and God forbid, the internet. The records might indicate poor financial conditions and/or adjusted numbers no one should know about and maybe somehow/someway may be used against them in court in the future. The Maloofs would be showing their financial situation for something that has a long shot of even happening. I'm suspecting their lawyer said NO WAY to turning over the documents. If they were a public entity as opposed to a private one, no problem.

 

[ArcoKings]

correct.

I get the feeling that their financial situation is much worse than reported. I bet they are using the kings profits to keep the palms current. So the reason they havent been spending money on the kings is because of the palms.

Yes kennadog they say they are seperate, but we know they dont always tell the truth anymore.

Bingo.

 

[ParniValjak]

I thought the only thing they didn't turn over was some of the financial information. My suspicion is they want no one to know their financial situation. Just guessing about what specifically they didn't turn over.

That could very well be the case. There is also another side of the coin. Those sort of financial studies that ICON want from the Maloofs would have cost the Maloofs a few million dollars over the years. If they believe that the current effort is no different to any of the previous ones, then why should they be giving millions of dollars worth of information to someone else?!

I love it how everyone says this is the most promising effort yet but if we go back to every other effort, its the same sort of talk we are hearing again. Fact is, if the Arena is to be built in Sacramento it HAS to be majorly funded by public money and the only realistic way to do that is increase the taxes (especially in current financial climate) and we all know how popular that is in Sacramento.

Taylor himself said that his study is a long shot and there is more chance of it failing than succeeding but some people don't get that and blindly dribble out the rubbish that this is the most promising arena push to date.

The chances of it being successful are even more of a long shot that years ago simply because of the financial crisis that has hit both Maloofs and California. People think that Taylor/ICON is like god and can do anything including turn stone into water!

 

[Arena Skeptic]

I've read quite a bit of this document, and I want someone to tell me why the City of Sacramento does not already own Power Balance Pavilion:

http://www.cityofsacramento.org/tre...ease Revenue Bonds Arco Arena Acquisition.pdf

If my interpretation is correct, I think we already own the arena.

 

[pdxKingsFan]

Taylor himself said that his study is a long shot and there is more chance of it failing than succeeding but some people don't get that and blindly dribble out the rubbish that this is the most promising arena push to date.

The primary reason that this is the most promising opportunity is because the city is actually behind it for a change. Every other time there were conditions or strings attached or a block of council members that were holding out for their area to get the arena instead. Now they realize this is the last chance, if they even get it.

 

[ParniValjak]

The primary reason that this is the most promising opportunity is because the city is actually behind it for a change. Every other time there were conditions or strings attached or a block of council members that were holding out for their area to get the arena instead. Now they realize this is the last chance, if they even get it.

But that still doesn't change the fact that there is no money to build the Arena. You can come up with all sorts of plans but unless you have the means there is really not much that can be done. I am extremely keen on owning a beachside mansion but I am a couple of million short but trust me I am more determined than ever before!

Fact is, regardless of genuine want to get there, there is one huge same problem again and that is funding. In a time when the city has no money, Maloofs have no money, people are struggling financially, how exactly are we going to come up with $350 odd million to build a new sports and entertainment complex in Sacramento?!

The current push has the same obstacles that all the previous ones had despite city finally coming around and extracting their digit. Its funding! And with the current financial situation of both the Maloofs and California, the ability to build has never been more difficult.

 

[pdxKingsFan]

Obviously they'd be raising taxes to do it. Plus there are some federal and state funds as part of the railyard development.

 

[ParniValjak]

Obviously they'd be raising taxes to do it. Plus there are some federal and state funds as part of the railyard development.

And when was the last time anything to do with raising taxes has gotten the majority vote?!

There in lies the problem.

 

[pdxKingsFan]

And when was the last time anything to do with raising taxes has gotten the majority vote?!

There in lies the problem.

There are some taxes the city controls without putting it to a vote of the citizenry. Unfortunately the best option needs county buy in (hotel and car rental taxes at airport), but still there are some remedies to explore.

 

[Section 101]

And when was the last time anything to do with raising taxes has gotten the majority vote?!

There in lies the problem.

The majority of the money would come from the lease. The rest would need to be filled in by taxes, most likey tourist type taxes.

 

[mr. moustache]

WTF. There's hot water in the visitors locker room. Where do you come up with this?

I ask the same question again, in your mind how many years is "a few more years"?!



""infinitely better arena", so what?" - Are you for real?!?!?! Ask any NBA player and they would say that Arco arena is arguably the worst in the league because of the inadequate facilities. Its the only arena in the NBA that has no hot water is visitor's locker room?!

Like I said, experts have proclaimed Arco obsolete some time ago but apparently according to you its perfectly good to house a professional basketball team for "a few more years"!

Lets not forget that Maloofs have been approached by other NBA cities where they would be the sole tenant and possibly manage the arena but they are leaning towards Anaheim and one of the main reasons might well be the TV rights deal. They would have some idea of what that would be roughly and its obviously good enough for them to think that it would be better thna staying in Sacramento.

 

[RookieOfTheDay]

WTF. There's hot water in the visitors locker room. Where do you come up with this?

Even funnier than the notion that there's no hot water is the notion that it'd be something that warranted moving to Anaheim over rather than just, you know, putting in some hot water.