Yeah, something about it stinks. They've got the whole city bending over backwards to make it financially viable for them to stay and yet it still seems like they can't get out of town fast enough. It makes so little sense because I've seen nothing about the Anaheim deal that looks much better than what they can get here. There simply has to be more luring them there than we know about.
For one reason or another, the Maloofs have made their mind up. They clearly want out of Sacramento, regardless of the circumstances.
I think in part that attitude is born out of the frustration of trying to get an arena deal done in Sacramento, and having no faith that it can be done, even now.
But I think the larger issue is that they really are emotion driven optimists who have all bought into the notion that Anaheim and the OC is some panacea that will cure all their ills and fill their pockets. I would wager a large sum that they're even convinced that with a young team poised to break out if things go right, when Kobe declines and ultimately retires that they'll be in prime position to be the best team in Southern California and establish a new legacy etc etc. I really believe that while they have to at least be cognizant of the worst case scenarios, they are the kind of guys that are transfixed by the best outcome and really think it's the most likely one.
As for money troubles, I have no idea. Obviously they are struggling. Is there an under the table personal loan agreement with Samueli? Perhaps. And that would clearly be a big red flag for the NBA.
But obviously there's some huge draw for them. Because there's the NBA relocation fee, the loan via bonds from Anaheim and the repayment to Sacramento. Even if all $50 million from Anaheim goes towards Arco Payments that still leaves them between $20-30 million in debt to Sacramento PLUS the relocation fee which will likely be in the $30-$50 million dollar range and that's not even including the line of credit they already took out with the NBA. I realize Anaheim will likely have a more lucrative TV deal and more corporate seating, but it won't be paying down those debts anytime soon. It makes little sense to me why they wouldn't really try one more shot with Sacramento first.
But the biggest question I have is that if they are not allowed to relocate, what happens then? They clearly don't want to be in Sacramento and are seemingly adamant about not selling.
Obviously the perfect ending in my mind is that they sell to the Burkle/Anderson/Webber group and the ICON/Taylor team helps a new arena get built in the railyards that revitalizes downtown and keeps my team in Sacramento long term.
But as optimistic as I'd like to be, the Maloofs refusal to sell and insistence on moving and NOT working with KJ or anyone else in Sacramento makes me think that it will come down to a BOG vote and they'll allow the Maloofs to leave.
