News from the NBA BOG meeting - April 2012

[Jose]

Well, I think it is time to go back to what KJ already said way back when the Maloofs already had two feet out the door... He said at that time that, although ideally we want to keep our relationship with the Kings, the city is prepared to build the arena with or without the Kings. I gotta believe that it wasn't all bravado and there must have been some contingency plans at that time if the team left and could still be in place if George has still mentally left. Basically all the Maloofs are contributing toward the arena is $70 mil or so. Chump change for a Burkle. Wonder if they might still build it somehow and let the Maloofs just stew in their old place until they beg to come over. Afterall, AEG built the arena in KC without a team.

^^ This.... partner with AEG (and maybe someone like Burkle) and build a venue that would be great for concerts, NCAA, etc... let the Kings stay at PBP and, when they come crying, treat them as the TENANTS that they want to be.

 

[fansinceday1]

I like how Stern is doing his best to avoid infecting the happiness of Hornets fans with the vitrol of the Maloof failure.

You know he's dreading bringing up the sacto debacle.

 

[fansinceday1]

Well, I think it is time to go back to what KJ already said way back when the Maloofs already had two feet out the door... He said at that time that, although ideally we want to keep our relationship with the Kings, the city is prepared to build the arena with or without the Kings. I gotta believe that it wasn't all bravado and there must have been some contingency plans at that time if the team left and could still be in place if George has still mentally left. Basically all the Maloofs are contributing toward the arena is $70 mil or so. Chump change for a Burkle. Wonder if they might still build it somehow and let the Maloofs just stew in their old place until they beg to come over. Afterall, AEG built the arena in KC without a team.

It's a great idea but if we build minus the maloofs then will the city have to cover their difference? If thats the case I don't see it happening.

 

[Tetsujin]

I didn't think it was possible to make Lew Wolff look like an awesome owner. I was wrong.

 

[Glenn]

No, the NBA has nothing to do with the concerts, Monster Trucks, etc. Those events are strictly up to the arena operator.

I meant doesn't the NBA think PBP is inadequate especially as to footprint. If the NBA thinks PBP is OK for basketball, the Maloofs have a valid argument except I hope they understand they would have to foot the bill themselves. Now I'm mixed up again.

 

[fansinceday1]

NBA's siding with the maloofs. kings are gone. my opinon of course.

 

[Löwenherz]

All right, that's not good

This sounds like a wake

 

[ReinadelosReys]

... =/

 

[Tetsujin]

Son of a *****

 

[Jose]

Not so fast, he's actually praising Sac...

 

[Tetsujin]

****

 

[Löwenherz]

I think I'm done with the NBA

 

[Circa_1985_Fan]

And there we have it...the final knife in the back of Sacramento.

 

[fansinceday1]

I think I'm done with the NBA

I hear you brother. Im not sad, IM PISSED.

 

[Circa_1985_Fan]

I am done...that is all...goodbye NBA.

 

[gunks]

Super pessimistic theory:

Maloofs are told behind closed doors that they cant relocate and can either sell or be contracted/reimbursed by the league.

Being d-bag ****s that they are, they choose contraction out of spite.

No more Kings.



...Or maybe we start rooting for the Supersonics.

 

[ReinadelosReys]

I have no idea what is going on anymore.

 

[Jose]

The way I see it is no deal, but no relocation.

 

[fansinceday1]

whether it's a year from now or 3 years from now the kings will leave. The maloofs will get what they wanted eventually. Move to Anaheim/Seattle and sell the team.

 

[rainmaker]

"Nothing further can be done...."

WTF did I just come home too?

 

[Tetsujin]

Wow. Maloofs were going to get loan from NBA just to pay off their 73 million.

 

[Warhawk]

I still think that the absolute WORST outcome we see is the NBA covering all or part of MSE costs for the arena deal (predevelopment or the whole thing, whatever), and MSE has it tacked onto their loans they already have with the league. Maybe the league agrees to cover the predevelopment costs and if it goes to construction MSE reimburses them at a later time? I see some options like this as a possibility as well.

And I was right. The league offered to pay $7 million out of pocket and finance the other $65 million for MSE.

 

[Jose]

League was gonna advance 65M to maloofs and give 7M ... WOW

 

[ReinadelosReys]

The Maloof's have so much money they were going to borrow 60+ mil from the NBA?

 

[Tetsujin]

How did the Maloofs not take this deal?

 

[gunks]

This is brutal.

Stern is pissed at everyone involved. Now we'll never get Davis.

 

[PurpleHaze]

Stern just said that in Orlando the NBA agreed to advance $67M from their credit line to the Maloofs as well as a direct contribution of $7M to help close the deal. Is this new info? I don't recall hearing this part of the financial terms (ie, Maloofs to come up with total $73.25M).

 

[fansinceday1]

This is brutal.

Stern is pissed at everyone involved. Now we'll never get Davis.

Id say actual basketball is the least of our problems.

 

[ReinadelosReys]

Carmichael Dave ‏ @CarmichaelDave

My math: The NBA was advancing 67 million plus an additional 7 million. 74 million advance. 73.25 Maloof contribution. Hmmm

 

[Tetsujin]

Stern just said that in Orlando the NBA agreed to advance $67M from their credit line to the Maloofs as well as a direct contribution of $7M to help close the deal. Is this new info? I don't recall hearing this part of the financial terms (ie, Maloofs to come up with total $73.25)

Yes. In other words, the Maloofs were paying nothing.