Arena deal dead

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Big Cuz 15

Big Cuz 15

All-Star
#31
#31
Jose said:
Just as I predicted on the other thread... stalling things until after the last game to avoid fan uproar / demonstrations at the games.

Now let's see if they have the guts to bring in the moving vans without the NBA approval. It wouldn't surprise me, given their tone in the press conference where they pointed out, multiple times, that the agreement was that they could move if there was no new arena.
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is there a replay or a transcript of it?
 
Section 101

Section 101

All-Star
#32
#32
Warhawk said:
Everyone local needs to show up at the May 8 CC meeting if they can. Coordinate with Mike, if necessary, but wear white shirts. Make sure the City knows we still want an arena built! There is NO way the NBA would let MSE move if a new facility is available. Hopefully MSE would be forced to sell (internal pressures, etc., not NBA telling them to) if it came to that.
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This would be a big mess. The city already said if they build an arena it could void the city loan to the Kings. My guess it would be a long drawn out court battle.

Best bet for the city is to find a way for the loan to come due the second they file for relocation.
 
Bricklayer

Bricklayer

Don't Make Me Use The Bat
#34
#34
Warhawk said:
Everyone local needs to show up at the May 8 CC meeting if they can. Coordinate with Mike, if necessary, but wear white shirts. Make sure the City knows we still want an arena built! There is NO way the NBA would let MSE move if a new facility is available. Hopefully MSE would be forced to sell (internal pressures, etc., not NBA telling them to) if it came to that.
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I think that is the ticket. The Maloof/NBA's big contribution was $75 mil right? Of course its possible the parking vendors won't pay as much wihtout the NBA team there as an anchor tenant, but point would be that IF you in Sacramento can make up that $75 mil from the NBA/Maloofs and build the arena anyway, then not only is there no way in hell the NBA would allow the Maloofs to move with a brand new arena just across town, but the brand new areans should easily crush out the last of Arco's non-Kings business, thus driving the Maloofs into more distress and forcing them to cave or sell.

If you build it, they won't go. They can't. It be a farce for them to still be playing in the old building wiht a new one across town. Adn the NBA is very aware of the implications for other small markets, and would never let the Maloofs screw all the other small market owners by showing that even if you build the arena we demand, we may move the team anyway.
 
J

JB_kings

Starter
#35
#35
Section 101 said:
This would be a big mess. The city already said if they build an arena it could void the city loan to the Kings. My guess it would be a long drawn out court battle.

Best bet for the city is to find a way for the loan to come due the second they file for relocation.
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Given what we've witnessed over the last year, is there any doubt that Maloofs were/are willing to leave town without paying back the loan and letting it default?

And what Jose said about the Maloofs little press conference was spot on. They made reference to thinking they had the right to move if no arena. I really think George is going to challenge the NBA on this and move the team soon.

It's walking and quacking like a duck.
 
gunks

gunks

Hall of Famer
#36
#36




Well...Apparently the internet (or my message board skills) suck as much as the Maloofs.

The X is a pretty sweet meme of Comic Book Guy saying the Maloofs are the worst owners ever. I thought it was clever.
 
J

Jose

Bench
#37
#37
Bricklayer said:
If you build it, they won't go. They can't. It be a farce for them to still be playing in the old building wiht a new one across town. Adn the NBA is very aware of the implications for other small markets, and would never let the Maloofs screw all the other small market owners by showing that even if you build the arena we demand, we may move the team anyway.
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There's been many references to a clause in the loan that stipulates that we cannot build a competing facility. If that is true, then we're screwed - unless the maloofs are willing to waive that... which we know they won't.
 
Warhawk

Warhawk

Give blood and save a life!
Staff member
#39
#39
Jose said:
There's been many references to a clause in the loan that stipulates that we cannot build a competing facility. If that is true, then we're screwed - unless the maloofs are willing to waive that... which we know they won't.
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ARCO isn't bringing in the big music acts now, so how can it be "competition" if we build a facility that does? ;)
 
VF21

VF21

Super Moderator Emeritus
SME
#43
#43
Capt. Factorial said:
Did anybody expect anything different? Honestly?

The Maloofs still won't put up collateral for a re-fi, and they still won't agree to a 30-year lease. These are not unreasonable demands by the city - they're merely arbitrary points that the Maloofs knew the city wouldn't give in on. Now our idiot owners can say that they "tried".

They won't sell barring desperation or a force-out. They can't move (this year) without fighting an anti-trust battle they will probably lose. But beyond next year...who knows? Ain't it great rooting for a franchise with the worst, brokest, most lyingest owners in the league whose very future is in limbo for years at a time?
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Agreed.

I promise one thing. I will NOT support any activity at PBP between now and opening night of the 2012-2013 NBA season. It might not be much, but I don't think I'll be the only one keeping my hard earned money away from the Maloof pockets.
 
Warhawk

Warhawk

Give blood and save a life!
Staff member
#45
#45
VF21 said:
Agreed.

I promise one thing. I will NOT support any activity at PBP between now and opening night of the 2012-2013 NBA season. It might not be much, but I don't think I'll be the only one keeping my hard earned money away from the Maloof pockets.
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I think this is an important point. I will be doing likewise. Of course with so few events scheduled, that won't be difficult.
 
Ryle

Ryle

Starter
#47
#47
Maloofs own about 3.5 million shares of Wells Fargo stock which at todays closing is worth about 120 million give or take a few million so they technically aren't broke(thanks Dad). It seems to me that the Maloofs only source of actual income right now is a neglible amount from the Palms and the salaries I assume every family member gets paid from the Kings. I hate to get inside their heads but it sounds to me like they are content drawing income from the Kings and staying at PBP instead of actually taking a risk with the new arena deal. They have always mentioned that the new CBA wil allow them to be profitable and compete but if they continue to play at the arena and don't put a better product on the floor they will suffer.

Time to sell boys......take the money that you make(after paying off all your debts) and move back to Vegas and go be a failure at another business you might want to start up.
 
VF21

VF21

Super Moderator Emeritus
SME
#48
#48
Ryle said:
Maloofs own about 3.5 million shares of Wells Fargo stock which at todays closing is worth about 120 million give or take a few million so they technically aren't broke(thanks Dad). It seems to me that the Maloofs only source of actual income right now is a neglible amount from the Palms and the salaries I assume every family member gets paid from the Kings. I hate to get inside their heads but it sounds to me like they are content drawing income from the Kings and staying at PBP instead of actually taking a risk with the new arena deal. They have always mentioned that the new CBA wil allow them to be profitable and compete but if they continue to play at the arena and don't put a better product on the floor they will suffer.

Time to sell boys......take the money that you make(after paying off all your debts) and move back to Vegas and go be a failure at another business you might want to start up.
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One thing that has to be considered is that while the Maloofs may own tons of Wells Fargo stock, do we know if that stock is already being held as collateral somewhere else?
 
Kingsfan23

Kingsfan23

All-Star
#50
#50
Sorry, but this entire situation is disgusting. Some of the best fans in the league don't deserve to have slimebag owners covertly trying to relocate the team from them, at all. You just hope that there are other powers out there that will rectify this situation.

These talks were a smokescreen from the get-go, put on by the slimebags attempt at looking like a party that would like to resolve this issue. They were not willing to move on basic, fair principals like 30 year lease and proper collateral on the loan from the jump.

Numb is the word used by some fellow Kings fans, disassociated is the word I'm starting to use. This situation isn't psychologically healthy, looking in the paper every day rooting for the path of these slimeballs to take this team out of this city to be further impeded. I don't have much more to give
 
Big Cuz 15

Big Cuz 15

All-Star
#52
#52
Bricklayer said:
I think that is the ticket. The Maloof/NBA's big contribution was $75 mil right? Of course its possible the parking vendors won't pay as much wihtout the NBA team there as an anchor tenant, but point would be that IF you in Sacramento can make up that $75 mil from the NBA/Maloofs and build the arena anyway, then not only is there no way in hell the NBA would allow the Maloofs to move with a brand new arena just across town, but the brand new areans should easily crush out the last of Arco's non-Kings business, thus driving the Maloofs into more distress and forcing them to cave or sell.

If you build it, they won't go. They can't. It be a farce for them to still be playing in the old building wiht a new one across town. Adn the NBA is very aware of the implications for other small markets, and would never let the Maloofs screw all the other small market owners by showing that even if you build the arena we demand, we may move the team anyway.
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for some reason, i think the maloofs will challenge that and move w/o the nba blessing anyway
 
VF21

VF21

Super Moderator Emeritus
SME
#55
#55
Big Cuz 15 said:
for some reason, i think the maloofs will challenge that and move w/o the nba blessing anyway
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David Stern made it very clear where the NBA stands, when he said: The games for 2012-2013 are scheduled to be played at Power Balance Pavilion. What that means, if you think about it, is that if the Maloofs were to try and move the team to Anaheim - or anywhere else - they would not be on the schedule for that season at any location other than PBP.
 
ParniValjak

ParniValjak

All-Star
#56
#56
kingsnation said:
Great timing as well, given that we won't be seeing them at a game anytime soon.

What a shame.
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That was SO predictable though! Maloofs were NEVER going to agree but they wanted a perception out there that they are trying! Its also predictable that the deal is officially dead a day after our season is finished!

Maloofs are like reading a book that you have read a few times before...its predictable as you know what will happen next!

Ticket abd sponsorship renewals will be down and they will want out! Bookmark it!
 
gatoradeSD

gatoradeSD

G-League
#57
#57
"We are disappointed for the city, its businesses and the supportive fans of the Kings, as well as team ownership , that this transaction, which we thought was fair has been abandoned. The Kings had the right to do that, as well as the right to continue at Power Balance Arena."

David Stern via J. Michael of USA Today
 
PurpleHaze

PurpleHaze

All-Star
#58
#58
gatoradeSD said:
"We are disappointed for the city, its businesses and the supportive fans of the Kings, as well as team ownership , that this transaction, which we thought was fair has been abandoned. The Kings had the right to do that, as well as the right to continue at Power Balance Arena."

David Stern via J. Michael of USA Today
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Those could definitely be interpreted as fighting words. "Fair..." There's got to be more rounds left in this fight Kings Fans.
 
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