http://www.interaksyon.com/interaktv/mvp-chot-to-meet-with-david-stern-to-discuss-sacramento-kings
Supposedly he wants to buy the Kings. Anyone know more?
Supposedly he wants to buy the Kings. Anyone know more?
Philipino Buyer Manuell V. Pangilinan to meet with Stern to discuss Kings?
- Thread starter BMiller52
- Start date
I remember this from last year. I think he made a comment that this would pave the way for filipinos to play in the NBA. Seemed pretty naive. I am sure he wishes to buy the Kings but what does he know about the NBA? It would be interesting, that's for sure. Basketball is big time in the Phillipines.
Let me throw in this: he didn't buy the Hornets and I think the large filipino population of Sacramento has something to do with that. He has his sights on one franchise.
In case people are wondering, MVP are the initials of the potential buyer, Manuel V. Pangilinan.
Let me throw in this: he didn't buy the Hornets and I think the large filipino population of Sacramento has something to do with that. He has his sights on one franchise.
In case people are wondering, MVP are the initials of the potential buyer, Manuel V. Pangilinan.
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Here's something from Wikipedia that seems more than partially true:
This guy is rich.
Manny V. Pangilinan wants a majority stake if he finally decides to accept an offer to join a group of investors that will take over the struggling Sacramento Kings in the NBA. “I have to admit, the idea is very titillating,” Pangilinan said during a recent briefing where he confirmed rumors that he had been invited to help keep alive the franchise of the financially strapped Kings. As he does with most of his business ventures, however, he said he would not settle for being a passive investor. “If we proceed, we’ll be seeking a majority stake,” said Pangilinan, who owns the Talk 'N Text Tropang Texters and the Meralco Bolts in the Philippine Basketball Association and heads the Samahang Basketbol ng Pilipinas, the governing body in amateur basketball. “Whether we do it or not, it’s a great idea for a Filipino group to own an NBA team,” he said, adding that this would eventually open up the doors to having Filipino players or team coaches. “It’s a great tribute to the country,” added Pangilinan. He said the group of investors was organized by retired former NBA All-Star Chris Webber, who was part of the Kings from 1998 to 2005. Webber met with Pangilinan, chair of the PLDT—among other firms—during a recent trip to Sacramento, where he visited the Kings’ home stadium, the Arco Arena. He said he would need to invest between $200 million and $260 million for a stake in the Kings, and that this would be done in his personal capacity. “That’s the ballpark figure [involved],” Pangilinan said. If a deal pushes through, this will make him the first Asian to control an NBA franchise. From one of the best teams in the NBA from 2001 to 2003, the Kings slowly lost their vaunted strength, and earlier this year failed to make it into the NBA playoffs. The Kings have been suffering from financial losses in the past few years due to the team’s relatively poor performance. The team is owned by the group of California businessman George Maloof Sr., which, due to its interests in US real estate, has had its own money troubles.
This guy is rich.
Earlier I thought this would be a bad idea, given his stated racial bias towards Filipino players and coaches.
However, if he just wants to win, might not be a bad thing.
As we discussed last time, this guy is inferring there's some kind of color barrier against Filipino players, which is ridiculous. The reason there are no Filipino players or coaches is because they're not good enough.
When he says "It's a great idea to have a Filipino group own an NBA team" what he really means is it's a good idea for the Phillipines to have a Filipino owner of an NBA team. Duh. I suppose there's also some benefit to the NBA expanding into the SE asian market. But good for the Kings? Not if he meddles with the basketball decisions to promote Filipino owners or players. Meritocracy. That's all we ask. No racist bull****.
However, if he just wants to win, might not be a bad thing.
As we discussed last time, this guy is inferring there's some kind of color barrier against Filipino players, which is ridiculous. The reason there are no Filipino players or coaches is because they're not good enough.
When he says "It's a great idea to have a Filipino group own an NBA team" what he really means is it's a good idea for the Phillipines to have a Filipino owner of an NBA team. Duh. I suppose there's also some benefit to the NBA expanding into the SE asian market. But good for the Kings? Not if he meddles with the basketball decisions to promote Filipino owners or players. Meritocracy. That's all we ask. No racist bull****.
This is the kind of guy that could actually have a shot at getting the Maloofs to sell-- meaning that he would be willing to overpay, maybe by a lot, something American investors (like Burkle) probably wouldn't do. If the insinuation is that he would be be willing to pay up to $260 million for the Maloof's share, then the Maloofs would be idiots not to take it. Of course, the Maloofs are indeed idiots.
hm. i vaguely remember mention of this awhile back. and i remain skeptical. i know we, as fans, would like to see the maloofs sell, but this guy's aims seem to have little to do with the nba. nationalism is the stuff of FIBA, and its a little scary to think about a new primary owner taking over with such a nationalistic agenda governing his decisions. of course, the guy's got money. BIG TIME money. so maybe it wouldn't matter. i dunno. at this point, i'm prepared to just sit back and wait. whatever happens, happens. i'm too emotionally exhausted to keep up with it all...
There were some concerns when the Russian guy bought the Nets-- but he seems to be doing good things so far. Having lots of money is the key, and it seems this MVP guy fits the bill. Personally, if the other option is losing the Kings, then I don't care much what his agenda is. He can put the Fillipino lead singer for Journey at point guard, and they can stop the game every few minutes for a "Don't Stop Believin'" karaoke session for all I care. As long as it happens in a new arena, of course. I would also be cool with every snack bar selling Lumpias.
I don't want nationalism to drive any decisions about the team. However, I want someone to buy out the Maloofs, who wants to keep the team in Sacramento and do a downtown arena deal. If he can do that, then fine.
I'd be perfectly happy with Burkle, too. (And lumpia)
In the article at the beginning I found this most interesting:
If the underlined part is in the by-laws, it would appear their is some basis to force an owner to sell. The Maloofs haven't done anything illegal or hugely scandalous, if it has to rise to that level of bad for league owners to invoke this clause, tho.
I'd be perfectly happy with Burkle, too. (And lumpia)
In the article at the beginning I found this most interesting:
If the underlined part is in the by-laws, it would appear their is some basis to force an owner to sell. The Maloofs haven't done anything illegal or hugely scandalous, if it has to rise to that level of bad for league owners to invoke this clause, tho.
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I hope those by-laws exist because if they do I am sure Stern would be plotting a way to get rid of the Maloofs. You don't embarrass the commissioner in the way the Maloofs did when they rejected the arena deal and brought it an anti-trust lawyer to represent them..you just don't because if you do, Stern will find a way to bury you.
If these by-laws exist, its a great thing for us especially considering that NBA has to approve any new owner or ownership group. This would ensure that at least NBA has some control on who buys the team to avoid this nationalistic approach and possibly an owner who wants to buy the team and move it somewhere else.
If these by-laws exist, its a great thing for us especially considering that NBA has to approve any new owner or ownership group. This would ensure that at least NBA has some control on who buys the team to avoid this nationalistic approach and possibly an owner who wants to buy the team and move it somewhere else.
I think that might be a big "if" - we've consistently heard in the U.S. media that no such by-law exists. Yet the Philippine media, who are telling a story with strong nationalistic undertones whose premise happens to rely fairly heavily on the existence of such a clause, seem to know about it. I'm just saying I'm skeptical. I'm not saying it can't be true, but it seems kind of convenient.
Have you heard this anywhere besides Grant and Scott Howard Cooper? Because Grant is broadcasting directly from George Maloof's rectum. Grant brings Scott on to toe the Maloof line on this issue. Not sure if Scott just wants to keep a home base here or why his bread buttered, but he throws out all the arena talking points logic be damned.
In a Bill Simmons podcast, David Stern said that he didn't have the power to take the Clippers away from Sterling short of the conditions of what Grant is saying, but he said the other owners do have that power. I can't point you to the date or the time code, but I'm pretty sure it was during the lockout. But that's what he said.
Grant is a lying hack. The Maloofs want everybody to think they aren't selling and the team can't be taken away for any reason. And Stern is Stern. It's unclear whether Stern has the votes to get this done or if it stands up in Court, but Grant is either misinformed or lying. Probably both.
In a Bill Simmons podcast, David Stern said that he didn't have the power to take the Clippers away from Sterling short of the conditions of what Grant is saying, but he said the other owners do have that power. I can't point you to the date or the time code, but I'm pretty sure it was during the lockout. But that's what he said.
Grant is a lying hack. The Maloofs want everybody to think they aren't selling and the team can't be taken away for any reason. And Stern is Stern. It's unclear whether Stern has the votes to get this done or if it stands up in Court, but Grant is either misinformed or lying. Probably both.
I certainly haven't heard it from Grant - I don't listen to his radio show and he doesn't discuss that sort of business on the telecasts. Scoop? Possibly. I seem to recall Voisin saying such by-laws didn't exist, and though I don't have a specific recollection of where I read it, I feel as if I've read it several times. I don't know the Simmons podcast you're referencing, but I definitely haven't heard U.S. media say that such by-laws DID exist since the whole maloofery started going down. It's the kind of good news I'd certainly like to hear and wouldn't forget.
The Maloofs are pounding that over and over again because this is what they want everybody to believe. Voisin, who talks to the Maloofs, said no at first, but actually went the other way later. She said no express term, but the league could try to use the "best interest of the league clause", which is in the bylaws. I'm only seen two people come out and say "no way" they can force them to sell. Grant and Scoop. Scoops takes in the past month on this are pure Maloofs BS.
The fact is its unclear whether the owners can take the Kings back right now. Grant is laying down - nope, not possible. Don't talk about this. They either have to miss playroll or break the law. It's not that clear, and he's wrong. Of course this is the same man that would not just tell fans it didn't make any sense to remodel arco, but would sometimes slip up and say "the place is falling appart" and imply that soon it won't even be structurally sound. Now, he's selling a 10 year remod. If he gets the talking points, he will repeat them.
I'm sure Grant has never seen the NBA bylaws and he doesn't know anything about anti-trust law or the history of court cases breaking down the "best interest of the league" clause. He's just repeating what the Maloofs are saying. So is Scoop.
Other than these clowns, I haven't seen anybody break down the league's power over the Kings.
The fact is its unclear whether the owners can take the Kings back right now. Grant is laying down - nope, not possible. Don't talk about this. They either have to miss playroll or break the law. It's not that clear, and he's wrong. Of course this is the same man that would not just tell fans it didn't make any sense to remodel arco, but would sometimes slip up and say "the place is falling appart" and imply that soon it won't even be structurally sound. Now, he's selling a 10 year remod. If he gets the talking points, he will repeat them.
I'm sure Grant has never seen the NBA bylaws and he doesn't know anything about anti-trust law or the history of court cases breaking down the "best interest of the league" clause. He's just repeating what the Maloofs are saying. So is Scoop.
Other than these clowns, I haven't seen anybody break down the league's power over the Kings.
