Local buyer reportedly enters the picture!

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Fear the Putin

Fear the Putin

Starter
#33
#33
The_Jamal said:
Seems like interested buyers are popping out all over the place to keep the team in Sacramento. I don't see how Stern could have any justification for moving the team if we have a competitive offer to the Seattle group. City support, fan support, 20th largest market in the U.S with the Kings as the only pro team.
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see Seattle

they also had interested buyers
 
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Peter_Gibbons

Starter
#35
#35
Section 101 said:
Hansens bid includes paying off the NBA debt too and other relocation expenses like the fee. That's why it's so inflated.
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No one knows that for sure until something comes out from the Maloofs or hansen.

It makes sense that the $500 mil includes the $77 mil loan payment, but I doubt the relocation fee comes from the Maloofs as that is hansen moving the team.
 
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Peter_Gibbons

Starter
#36
#36
Mastrov is worth $350 million.

Hansen is only worth $300 million.


It comes down to the people that they can get in their corner. Hansen has Balmer, billionaire with a lot of connections. I would think their area would become Microsoft arena or something if Balmer doesn't get fired soon. (A lot of Microsoft shareholders have been calling for it).
 
HereWeBoogie

HereWeBoogie

Hall of Famer
#37
#37
Grant and carmichael dave both give me the idea that they know something we don't know. Dave has been tweeting about how KJ is in BeastMode and Grant referred to how many things are going on behind the scenes and this is going to get very interesting
 
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Larry David

Starter
#40
#40
Hoovtrain said:
Well well well, Grant's tune certainly has changed now that this sale is "complete".
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Two words - Kevin Calabro. If the team moves to Seattle, there is no job for Grant. The new ownership brings back the voice of the Sonics. He no longer has to straddle the fence.

At this point, it’s all or nothing: Sacramento either loses the Kings OR we get rid of the Maloofs and for the first time Kings fans have properly funded and professional owners, in a state of the art downtown arena, that kicks off a renaissance in development and economic activity downtown. I have no guess which way that breaks, but I really hope it work out for the city and the team.
 
Tetsujin

Tetsujin

The Game Thread Dude
#41
#41
So reports of Seattle deal being signed on the dotted line. But, and this is a big but:

Aaron Bruski ‏@aaronbruski
If there is more than a handshake deal on paper and minority owners weren't notified, that's probably not going to work.
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Aaron Bruski ‏@aaronbruski
This article from Sept discusses the league's power to tell the Maloofs what to do and the $ picture: http://is.gd/A7D553
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Aaron Bruski ‏@aaronbruski
The league can tell the Maloofs what they can and cannot do, and it would be up to the family to challenge it in court.
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Fear the Putin

Fear the Putin

Starter
#42
#42
Kingsguy881 said:
Clay Bennett bought the team and kept them in Seattle contingent on getting an arena deal done there. When that fell through....
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that was all a smoke screen

Bennett is from OKC, the NBA's Hornets experiment in OKC went a lot better than everyone thought, so it was pretty much set in stone that he was going to move them.
 
Circa_1985_Fan

Circa_1985_Fan

All-Star
#44
#44
Kingsguy881 said:
Clay Bennett bought the team and kept them in Seattle contingent on getting an arena deal done there. When that fell through....
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I think this is obviously different...KJ will get a lease in writing from whoever would buy the team amd keep them here. And I think the arena would get done pretty fast with willing owners, since the plan is already ready to go.
 
Capt. Factorial

Capt. Factorial

ceterum censeo delendum esse Argentum
Staff member
#45
#45
Arco Arena said:
The loan to the city is $64 million with $14 million in interest, so $77 million to the city. It's a loan, they could very well pay off that loan with a loan... so to count that as a $77 million "discount" as others seem to be doing isn't correct.
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The $77M comes due when the team moves out of Sleep Train, which is why there was talk about refinancing under the handshake agreement that got Georged. The difference comes from the fact that the city of Sacramento has already shown a willingness to refinance that $77M at favorable terms (but yes, collateral required) - but that offer is only going to apply to a local owner investing in a downtown arena. Seattle would have to pay that up front (though they can finance it however they wish). A local owner would not have to pay it up front, number one because Sacramento would help finance it, and number two because the team would still be playing in Sleep Train for another 2-3 years while the arena was being built (and they'd be making the same payments on that loan the Maloofs are now). So being a local owner does mean less up front money. It does get paid out eventually, yes, but a local buyer would also have a revenue stream (the team) that would raise the money over time. They don't have to have that $77M in pocket, so they can be a bit less rich and still put in a competitive offer.
 
Tetsujin

Tetsujin

The Game Thread Dude
#46
#46
Capt. Factorial said:
The $77M comes due when the team moves out of Sleep Train, which is why there was talk about refinancing under the handshake agreement that got Georged. The difference comes from the fact that the city of Sacramento has already shown a willingness to refinance that $77M at favorable terms (but yes, collateral required) - but that offer is only going to apply to a local owner investing in a downtown arena. Seattle would have to pay that up front (though they can finance it however they wish). A local owner would not have to pay it up front, number one because Sacramento would help finance it, and number two because the team would still be playing in Sleep Train for another 2-3 years while the arena was being built (and they'd be making the same payments on that loan the Maloofs are now). So being a local owner does mean less up front money. It does get paid out eventually, yes, but a local buyer would also have a revenue stream (the team) that would raise the money over time. They don't have to have that $77M in pocket, so they can be a bit less rich and still put in a competitive offer.
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And, as Ken Berger said earlier in the day, Stern wants to keep the team in Sacramento.
 
VF21

VF21

Super Moderator Emeritus
SME
#47
#47
Peter_Gibbons said:
Mastrov is worth $350 million.

Hansen is only worth $300 million.


It comes down to the people that they can get in their corner. Hansen has Balmer, billionaire with a lot of connections. I would think their area would become Microsoft arena or something if Balmer doesn't get fired soon. (A lot of Microsoft shareholders have been calling for it).
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Mastrov might have Ron Burkle on speed dial. :)
 
K

Kingsguy881

Guest
#48
#48
Circa_1985_Fan said:
I think this is obviously different...KJ will get a lease in writing from whoever would buy the team amd keep them here. And I think the arena would get done pretty fast with willing owners, since the plan is already ready to go.
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Oh I know this. I was just responding to Negative Nancy up there that if there was an arena in Seattle Bennett would have kept the team there. He would have had to.
 
sauce-26

sauce-26

Starter
#49
#49
David‏@Drhilljr

@CarmichaelDave - Did @KJ_MayorJohnson just step out of the Shadows and say.. "I'm your Huckleberry..." #AboutTheReckoning #PlayForBlood



HAHAHAHAHA!!!!!!!!!!
 
K

Kingsguy881

Guest
#50
#50
Fear the Putin said:
that was all a smoke screen

Bennett is from OKC, the NBA's Hornets experiment in OKC went a lot better than everyone thought, so it was pretty much set in stone that he was going to move them.
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Say what you want, but if Bennett had just bought the Kings today with an arena deal sitting on the table that the league had signed off on, irregardless of him wanting to take the Kings to OKC, he would not have been approved by the BOG.
 
Ryan

Ryan

I like turtles
#57
#57
VF21 said:
What did you say? Why didn't you give us a heads up ahead of time? :)
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It was a spur of the moment thing. I mentioned Anthony Bonner coming and reading to my Kindergarden class at St. Michaels and how I was one of the original cows. Main question: I'm in Los Angeles, is there anything I can do, and furthermore is there anything other Kings fans living outside of Sacramento can do?

Grant: Great question. I'll have all of that for you on Monday.

Typical...
 
VF21

VF21

Super Moderator Emeritus
SME
#58
#58
Ryan said:
It was a spur of the moment thing. I mentioned Anthony Bonner coming and reading to my Kindergarden class at St. Michaels and how I was one of the original cows. Main question: I'm in Los Angeles, is there anything I can do, and furthermore is there anything other Kings fans living outside of Sacramento can do?

Grant: Great question. I'll have all of that for you on Monday.

Typical...
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Translation: I don't have a clue.

Believe me, the employees - especially those wearing two hats - of MSE are not in the loop right now. You're better off following Carmichael Dave and Crown Downtown.
 
Ryan

Ryan

I like turtles
#59
#59
VF21 said:
Translation: I don't have a clue.

Believe me, the employees - especially those wearing two hats - of MSE are not in the loop right now. You're better off following Carmichael Dave and Crown Downtown.
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Exactly! But I just wanted his opinion.

On a serious note, is there anything we can do?
 
Tetsujin

Tetsujin

The Game Thread Dude
#60
#60
Via Dave's facebook:
Coming up for a quick breath:

What we are seeing is the very tip of a plan the Mayor has had all along. The trigger mechanism was activated this week with the Seattle news.

Now work is being done around the clock to set in motion the many moving parts necessary to bring home a victory once and for all.

I personally will be rolling out part of that plan in the next day or two, finally a chance for all Kings fans to mobilize and be counted.

I can only tell you that the Mayor is in Beast Mode, and is beyond prepared for this. He has all the ammo he needs.

We are not bringing knives to a gunfight. Just understand one thing above all, no matter WHAT you hear:

We. Will. Win.
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