Such a Sad day....
- Thread starter EIM86
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The not selling to Burkle comment is interesting, as it seemed last year Stern was high on Burkle and I doubt that changed. If Burkle were to table an equivalent offer to keep the team here, and the Maloofs shot it down for personal reason, I could see Stern overriding it. If we have a local investor table an offer as good as the Hansen group I don't think Stern lets the team go just because of personal beef between George and Burkle.
Yeah, that sure sounds like they've done their homework alright. 
L
I unmuted you! Why do you think Stern cares about Sacramento? He doesn't. He cares about the NBA and increasing the value of each franchise. Having a team in Seattle with a state of the art arena with billionaire owners trumps doing the "right thing" in keeping the Kings in Sac. The truth is....after the Webber era, this city hasn't really supported the team very well. There is more money is Seattle.
I don't live in Sac and am the only one I know that is a Kings fan, so I can't really speak much to the city not supporting them, but it seems the fans have certainly supported them the last few years during this whole ordeal. Gotta count for something?
That said...I agree I think Stern takes the business route over the right thing to do route. Especially since this would be equivalent to putting a steak on the black eye of 2008 to help it go away before he leaves.
That said...I agree I think Stern takes the business route over the right thing to do route. Especially since this would be equivalent to putting a steak on the black eye of 2008 to help it go away before he leaves.
The value of this market isn't lost on Stern or the BOG. Neither is Sea. If a local investor steps up and offers the equivalent of the Hanson group, or more, where if it's true the Maloofs owe the league 219M(per Bruski) which would mean given what we heard today after all the debt is payed off the Maloofs share would be only 281M, minus the minority owners share, which I think almost cuts it in half, which is why Bruski said today a 425M offer from a local investor would put more money in the Maloofs pockets than the Hansen deal, if that's all true and a local investor does pony up a good offer then I think given this market's value(top 20 tv market, sole pro franchise, sold out 19 of 27 seasons), then Stern tries to keep the team here and grants Sea an expansion team.
If no local investor(s) step up then Stern pretty much has to let the team go.
If no local investor(s) step up then Stern pretty much has to let the team go.
Screw the Maloofs, screw Seattle doing the same thing to a city that they had done to them. They already have football and baseball and many college teams, and we got nothing now.
So for anyone in Seattle to say they feel what I feel is just retarded.
OK now for the numbers;
From what I had been hearing that $500 mil number INCLUDED the relocation fee. A buddy of mine who writes for Draftexpress said that it's pretty close to being done and they are only working out the "million here or million there" part of the deal. Basically dotting the "i"s and crossing the "t"s. The major part of the deal is done, and there will be no group we can come up with quick enough to make an offer.
I believe if we DID have a local group try to make a bid the price would NOT start at 500mil, and would NOT include the arena deal (that part would go back to the table). I believe from what my friend said the bidding would start somewhere at about 420-430 mil.
So for anyone in Seattle to say they feel what I feel is just retarded.
OK now for the numbers;
From what I had been hearing that $500 mil number INCLUDED the relocation fee. A buddy of mine who writes for Draftexpress said that it's pretty close to being done and they are only working out the "million here or million there" part of the deal. Basically dotting the "i"s and crossing the "t"s. The major part of the deal is done, and there will be no group we can come up with quick enough to make an offer.
I believe if we DID have a local group try to make a bid the price would NOT start at 500mil, and would NOT include the arena deal (that part would go back to the table). I believe from what my friend said the bidding would start somewhere at about 420-430 mil.
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But it also sets a very dangerous precedence that the NBA would like to avoid. One day somewhere, another team will need a new Arena. Bucks are probably the obvious team and those cities will be sceptical in getting into any sort of public-private partnership with the NBA teams to fund the arena because of what happened in Sacramento.
Seattle lost the Sonics and deserve the NBA team but not at the expense of Sacramento who have gone above and beyond of what was expected from the city. Burning that bridge is a PR disaster for the NBA.
I still have to believe that the NBA want a team in Sacramento and would prefer to sell to a local ownership group committed to long term future of the Sacramento Kings. If the sale price of the team is not close or comparable, I am sure the NBA would back the sale to Seattle.
I do think that if the Kings leave, the chance of Sacramento getting NBA team back as some point is remote. I do believe that this is the final shot that we have in keeping the Kings in Sacramento and hopefully it comes off but its looking dicey!
Seattle lost the Sonics and deserve the NBA team but not at the expense of Sacramento who have gone above and beyond of what was expected from the city. Burning that bridge is a PR disaster for the NBA.
I still have to believe that the NBA want a team in Sacramento and would prefer to sell to a local ownership group committed to long term future of the Sacramento Kings. If the sale price of the team is not close or comparable, I am sure the NBA would back the sale to Seattle.
I do think that if the Kings leave, the chance of Sacramento getting NBA team back as some point is remote. I do believe that this is the final shot that we have in keeping the Kings in Sacramento and hopefully it comes off but its looking dicey!
This is kind of what I'm talking about although the numbers might be slightly off. It won't cost a local investor 500M to keep the team here.
Carmichael Dave @CarmichaelDave
Local buyer could offer 393 to match Hansen, assume city and NBA debt, and take further NBA loan for downtown arena. No relo fee
Carmichael Dave @CarmichaelDave
And you can BET YOUR A** the city would work to renegotiate and stretch current city debt for new owners to ease the pain. Bank on that.
Carmichael Dave @CarmichaelDave
Local buyer could offer 393 to match Hansen, assume city and NBA debt, and take further NBA loan for downtown arena. No relo fee
Carmichael Dave @CarmichaelDave
And you can BET YOUR A** the city would work to renegotiate and stretch current city debt for new owners to ease the pain. Bank on that.
Aaron Bruski @aaronbruski 25m
The Maloofs owe $219M to the NBA according to @largesteve.
Whats with this quick enough? Nothing is done until the BOG'ers approves it. There's plenty of time for someone else to make a bid. I don't think the deal is anywhere close to being done. Its reported that after all the fee's are removed from the $500 million the Maloofs clear somewhere around 345 mil. Which means if a local bidder can offer 350 mil, he can beat Seattles walk away offer. Unless you can tell me that Draftexpress has better infomation than Bruski, who has been on top of this thing from the beginning, I'm not buying any of that.
The Maloofs owe $219M to the NBA according to @largesteve.
Whats with this quick enough? Nothing is done until the BOG'ers approves it. There's plenty of time for someone else to make a bid. I don't think the deal is anywhere close to being done. Its reported that after all the fee's are removed from the $500 million the Maloofs clear somewhere around 345 mil. Which means if a local bidder can offer 350 mil, he can beat Seattles walk away offer. Unless you can tell me that Draftexpress has better infomation than Bruski, who has been on top of this thing from the beginning, I'm not buying any of that.
In the first place, that's easy for you to say, but not everybody who likes basketball likes other sports. "You still have the Seahawks" is a null expression for someone who doesn't like football. That makes as much sense as bashing Kings fans who didn't care about the Monarchs.
And, in the second place, what do you expect Seattle to do? The fact that they got screwed means, what, that they are somehow morally obligated to refuse to accept another city's team? I don't particularly want the Kings to leave Sacramento, but how is Seattle in the wrong?
Didn't the city of Sacramento also vote against public money being spent on a new arena, at least once, or do I have that wrong? And, again, even stipulating that you're right, if the fans in Seattle voted against financing an arena, and then an ownership group pops up in Seattle, and says, "It's cool, we'll spring for the arena," why should Seattle be compelled to say, "Nah, that's okay"?
Okay, so it seems to me that, as a direct consequence of them not spending $200M to keep their team, they had to go five years without a team of their own, and now have to pay $500M+ to get another team. It's not fair to Sacramento, no, but it seems to me, from an out-of-towner's perspective, that that's penance enough from Seattle's side.