Seattle rumors/comments - post them here!
- Thread starter mm16
- Start date
- Status
I have a curious question. Thinks are reportedly moving behind the scenes with references that 'there will be blood spilled,' 'things are going to get interesting' and 'KJ has a back-up plan but was waiting for the triggering mechanism.' My question is regarding the reportedly $127 million owed the league. It appears that it was not used on the team. If the "boys" can't show otherwise and it can be shown that it was used for personal "reasons", whose portion of the pie does that money come out of? Embezzlement charges? If I was a minority owner I think I would be having my lawyers ask some questions.
If this is true, there could be an agreement in writing between the Maloofs and Hansen. However I am sure that any preliminary agreement would be contingent on NBA approval, BOG approval on both the Sale and the relocation of the team.
Why this could be awful is with a written agreement Maloofs may not be able to consider any other offers until NBA pulled its approval of the deal and the move.
Why this could be awful is with a written agreement Maloofs may not be able to consider any other offers until NBA pulled its approval of the deal and the move.
Now, I don't know where you got this info, but if true (and given that the loan was made contingent on the money being used for NBA purposes), then the NBA probably has a pretty big ban hammer in its back pocket. "Oh, you've got an anti-trust lawyer? That's funny, we've got a $100M+ embezzlement charge ready to be filed. Now...if you sell to whom we tell you to sell to, and you pay us back, we might be able to reach a settlement out of court."
That certainly would be a "there will be blood" moment.
That certainly would be a "there will be blood" moment.
I'm coming in late on this, but why wouldn't Mastrov be enough? He sold 24 hour fitness for 1.7 billion dollars, which is certainly more money than the Maloofs have, or probably had at any one time. He put up a bid of 350 million for the Warriors. He certainly has enough money. However, I'm not against him teaming up with other investors to ensure being able to outbid the Hansen group.
I don't know about the rest of the family, but George is all about money. No one is going to convice me that if someone else offers a better deal, they'll turn it down. If they're truely considering selling, then what they want is the most money they can get out of the deal. I've felt from the beginning that what they wanted is a bidding war, and nothing so far has convinced me otherwise. If you want to squeeze the very last dollar available from a local investor, you make him think that a deal is almost done. Here's the part I find intriguing. We've not heard a peep from the Maloofs, and we haven't heard a peep from Hansen. All the info is coming from so called inside spokesmen, or outside spokesmen. As was said in a movie, "Show me the money".
I don't have any information. I was simply going by the product on the floor, the team was cutting expenses (like neglecting maintenance) and it seemed the team was keeping payroll to a minimum the last couple of years. The details would be in the books and we don't have access to them. I seem to remember a discussion on this board where it was brought up that the money didn't appear to have any strings to it and that there was speculation that the money was being used for other purposes (in other words, hearsay).
Legally, I'm talking about the minority owners having a case against the Maloofs when it comes time to divide up the purchase price. Not having to pay off the minority owners if sold locally could then become a BIG bargaining chip.
Legally, I'm talking about the minority owners having a case against the Maloofs when it comes time to divide up the purchase price. Not having to pay off the minority owners if sold locally could then become a BIG bargaining chip.
No, I agree! I'm just saying that he does have the resources on his own to make an offer. The man is a billionaire. However, I have no doubt that he has other investors involved. I think the bigger point is that there are investors with big bucks that would like to buy the team and keep it here. So I think this thing is a long way from being done. I've said from the beginning that a local investor has a big financial edge over someone that wants to buy and move the team. I'm sure that the Maloofs know that. So their going to try and squeeze as much a possible out of the deal.
From the beginning of this leak I have thought this seems an awful lot like an intentional leak. This is especially true for the details of the $525 million figure and the Maloofs retaining no ownership position in Seattle. This feels an awful lot like an effort to push up bidding on an asset they realize they can no longer hold on to. I certainly hope so. I do not doubt there has been an offer and even a formal offer sheet, but it would not surprise me if the details are not a sweet as the stories make out. I wonder if local buyers could just make an offer of 5 million more than any other offer (inducing moving cost)?
Sam Amick @sam_amick
Johnson swears he'll get a shot here, says he's rounding up the money & targeting $425-450 million mark as comparable to $525 in Seattle.
IF the 525 Million is even a real offer, i feel like 425-450 is WAY more in the pocket of the Maloofs than the 525 from seattle due to all the the moving fees and loans factored into that 525. so if the mayor can really come up with that much, i love our chances here
Johnson swears he'll get a shot here, says he's rounding up the money & targeting $425-450 million mark as comparable to $525 in Seattle.
IF the 525 Million is even a real offer, i feel like 425-450 is WAY more in the pocket of the Maloofs than the 525 from seattle due to all the the moving fees and loans factored into that 525. so if the mayor can really come up with that much, i love our chances here
Maybe I'm going in the wrong direction and complete off base on how this works but let me lay out a scenario...
Maloofs agree to sell team to Seattle group.
NBA BOG's blocks sale.
Sacramento group makes offer and gets approved.
Sacramento group takes control of the team and then works two to three years on building the new arena.
But during that time the group would still be in the Maloofs owned arena and practice facility, no? Would the Maloofs, who are known as spiteful, have any way to block the team from using their facilites, considering there is no lease?
Maloofs agree to sell team to Seattle group.
NBA BOG's blocks sale.
Sacramento group makes offer and gets approved.
Sacramento group takes control of the team and then works two to three years on building the new arena.
But during that time the group would still be in the Maloofs owned arena and practice facility, no? Would the Maloofs, who are known as spiteful, have any way to block the team from using their facilites, considering there is no lease?
While the Maloofs would still own the building, there is the matter of the outstanding loan to the city. The Maloofs quite conceivably might use the building as part of a payoff package.
This is all mere speculation, however. Way too many unanswered questions at this point to be trying to dot the i's and cross the t's.
This is all mere speculation, however. Way too many unanswered questions at this point to be trying to dot the i's and cross the t's.
I really don't know why people are taking the 350M bid as meaning that's all he can bid. It isn't.
He bid 350M as part of a three horse race for GS against Lacob and Ellison, and after making that bid was pissed GS was sold to Lacob and finalized without getting a chance at increasing his bid. Ellison was also pissed he didn't get a chance to increase his bid either. GS was sold to Lacob before Mastrov/Ellison got a chance to increase their bids.
Basically, 350M is not his ceiling.
He bid 350M as part of a three horse race for GS against Lacob and Ellison, and after making that bid was pissed GS was sold to Lacob and finalized without getting a chance at increasing his bid. Ellison was also pissed he didn't get a chance to increase his bid either. GS was sold to Lacob before Mastrov/Ellison got a chance to increase their bids.
Basically, 350M is not his ceiling.
Good article.
http://www.usatoday.com/story/sport...amento-save-team-maloofs/1828335/?sf8557950=1
KJ has obviously been planning for this and has been working with investors for this scenario for a little while it seems. Also appears he and Stern are still working together and on the same page.
http://www.usatoday.com/story/sport...amento-save-team-maloofs/1828335/?sf8557950=1
KJ has obviously been planning for this and has been working with investors for this scenario for a little while it seems. Also appears he and Stern are still working together and on the same page.
If there is a Sacramento group that can make an offer that puts the same amount of money in the Maloofs' pocket or even a little more, I think that they'd take it. People think they're trying to move the team out of spite, but I would think Gavin (and maybe Joe) would prefer to sell locally because I think they still like Sacramento. As long as the money is the same or better to make George happy, they might be able to win the argument to choose a local buyer.
It seems to me that they specifically DON'T want to sell to Sacramento. If they did, they would have contacted us about the fact that the team was for sale, and not made a deal with Seattle behind our backs. However, lucky for us, they don't have the final word- the NBA does. And if we can put together a competitive, credible offer to rival Seattle's, then I think it would make it a LOT harder for the NBA to approve the move.
- Status