Staying or going? Latest rumors, thoughts, etc.
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I don't think Burkle was ever as interested as it seemed. I mean if there is a bargain for another big league team, he would buy it. But it just doesn't seem like he is into a bidding war for the Kings. What he did last time by throwing his name out there for KJ was just a favor for Sac politicians and his friend Jerry Buss.
Thats what I've been saying. Simple good cop bad cop tactic thats used in business all the time. Have the bad guy be the "outsider" that normally lives in Vegas. Thats why I always said doubted that the decisions are really all made by George.
They just make it appear that way because Gavin and Joe are the ones that lives or frequents Sactown and need to show their face around the team.
Since Stern had that conference call with the relocation committee about the Seattle offer, I wonder if he has told KJ about the details of that offer. That is the only way Stern can show that he is committed to really helping Sac.
KJ will need to know exactly what he is going up against in order to have 2nd and 3rd offers in case what he brings to the table initially is not up to par.
KJ will need to know exactly what he is going up against in order to have 2nd and 3rd offers in case what he brings to the table initially is not up to par.
I am sure if I sorted through this thread, I would figure out how much a local group has to come up with. Are they buying the Maloofs 53% or the whole team? If it's the whole team, some of the old ownership group might be part of the new ownership group. If it's just the Maloofs part, it's an offer of at least $180 mil if the team is valued at $350 mil. I understand another present owner wants out but the less of the original owners that want out, the better for the whole deal. There must be enough people in the world who would like to own a piece of a team in Sacramento hence my mention of MVP. He wants part ownership and wants a team in California. The fact that this area is almost over run with filipinos (I'm married to one so take no offense) might make this area even a nicer idea for him. He's eager.
It can't be that simple, can it? I think the FACT that there is an arena ready to be built must make this pretty attractive and although I may be one of the few, I think the team has a good future. They just need money and brains in the FO. I'll donate my $100.
In fact it would be cool and, of course, of no use, if KF.com came up with an amount of money and offered to be part owners. Hey, raise a ruckus, right!!!! The fact we are not an organized entity makes no difference as it is the spirit of the thing. We could come up with a $1000 or so and make sure it gets publicized or be part of something that our dear Mike has going.
Edit: Maybe if I read some of the articles it would help me. But I'm lazy. Actually I'm still a bit gassed but this is getting my blood flowing again.
By the way, I am very forgiving of Gavin and Joe.
It can't be that simple, can it? I think the FACT that there is an arena ready to be built must make this pretty attractive and although I may be one of the few, I think the team has a good future. They just need money and brains in the FO. I'll donate my $100.
In fact it would be cool and, of course, of no use, if KF.com came up with an amount of money and offered to be part owners. Hey, raise a ruckus, right!!!! The fact we are not an organized entity makes no difference as it is the spirit of the thing. We could come up with a $1000 or so and make sure it gets publicized or be part of something that our dear Mike has going.Edit: Maybe if I read some of the articles it would help me. But I'm lazy. Actually I'm still a bit gassed but this is getting my blood flowing again.
By the way, I am very forgiving of Gavin and Joe.
I am sure if I sorted through this thread, I would figure out how much a local group has to come up with. Are they buying the Maloofs 53% or the whole team? If it's the whole team, some of the old ownership group might be part of the new ownership group. If it's just the Maloofs part, it's an offer of at least $180 mil if the team is valued at $350 mil. I understand another present owner wants out but the less of the original owners that want out, the better for the whole deal. There must be enough people in the world who would like to own a piece of a team in Sacramento hence my mention of MVP. He wants part ownership and wants a team in California. The fact that this area is almost over run with filipinos (I'm married to one so take no offense) might make this area even a nicer idea for him. He's eager.
It can't be that simple, can it? I think the FACT that there is an arena ready to be built must make this pretty attractive and although I may be one of the few, I think the team has a good future. They just need money and brains in the FO. I'll donate my $100. In fact it would be cool and, of course, of no use, if KF.com came up with an amount of money and offered to be part owners. Hey, raise a ruckus, right!!!! The fact we are not an organized entity makes no difference as it is the spirit of the thing. We could come up with a $1000 or so and make sure it gets publicized or be part of something that our dear Mike has going.
Edit: Maybe if I read some of the articles it would help me. But I'm lazy. Actually I'm still a bit gassed but this is getting my blood flowing again.
By the way, I am very forgiving of Gavin and Joe.
It can't be that simple, can it? I think the FACT that there is an arena ready to be built must make this pretty attractive and although I may be one of the few, I think the team has a good future. They just need money and brains in the FO. I'll donate my $100.
In fact it would be cool and, of course, of no use, if KF.com came up with an amount of money and offered to be part owners. Hey, raise a ruckus, right!!!! The fact we are not an organized entity makes no difference as it is the spirit of the thing. We could come up with a $1000 or so and make sure it gets publicized or be part of something that our dear Mike has going.Edit: Maybe if I read some of the articles it would help me. But I'm lazy. Actually I'm still a bit gassed but this is getting my blood flowing again.
By the way, I am very forgiving of Gavin and Joe.
Not sure if posted:
http://www.grantland.com/blog/the-t...o-kings-fans-from-the-producers-of-sonicsgate
edit: nm missed the bottom of the article
http://www.grantland.com/blog/the-t...o-kings-fans-from-the-producers-of-sonicsgate
edit: nm missed the bottom of the article
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So it is 65% of MY estimated value of $350 mil plus tack on a bit to overpay. I think this team will appreciate in value. That means that roughly $125 mil is already spoken for (the present minority owners minus one) and more owners need to be found. We need to find roughly $225 mil in ownership. If the Maloofs want to keep a minority position yet not run the team (unlikely) there is already money there but it can't be much.
As a slight shift, let us say KJ comes up $25 mil short. I suspect the NBA would chip in either as a loan or as a donation merely to keep the team in Sacramento and not move it. They have already loaned the Maloofs an incredible amount of money and to have that debt wiped off the books makes a $25 mil debt look like nothing.
BTW, I am not saying Seattle doesn't deserve a team but I AM saying they don't deserve OUR team. I feel very confident that this is the NBA's attitude.
I presume potential owners' names will be shared very soon. It will be interesting. I don't understand at all why people think Burkle will not be part of the equation. I understand some people think his name was a bargaining chip but that's getting a bit too devious for me. My worry about him is that he may have moved on.
Another question: assuming that the Kings teams value is around $350, is there more that a local group would need to pay? It would not be much in comparison with a move anywhere which involves paying relocation fees and the like to a not so insignificant amount of roughly an extra $150 mil.
BTW, why don't I have this much money? It's incredible to me how much money we are talking about and this is small potatoes compared to the Yankees, Dodgers, Cowboys and the like.
As a slight shift, let us say KJ comes up $25 mil short. I suspect the NBA would chip in either as a loan or as a donation merely to keep the team in Sacramento and not move it. They have already loaned the Maloofs an incredible amount of money and to have that debt wiped off the books makes a $25 mil debt look like nothing.
BTW, I am not saying Seattle doesn't deserve a team but I AM saying they don't deserve OUR team. I feel very confident that this is the NBA's attitude.
I presume potential owners' names will be shared very soon. It will be interesting. I don't understand at all why people think Burkle will not be part of the equation. I understand some people think his name was a bargaining chip but that's getting a bit too devious for me. My worry about him is that he may have moved on.
Another question: assuming that the Kings teams value is around $350, is there more that a local group would need to pay? It would not be much in comparison with a move anywhere which involves paying relocation fees and the like to a not so insignificant amount of roughly an extra $150 mil.
BTW, why don't I have this much money?
It's incredible to me how much money we are talking about and this is small potatoes compared to the Yankees, Dodgers, Cowboys and the like.
http://www.cowbellkingdom.com/2013/...counter-seattles-offer-to-purchase-the-kings/
Nice wrap-up of the situation, although some of it has already been discussed today. Link also has the audio from the mayor and a q & a.
Nice wrap-up of the situation, although some of it has already been discussed today. Link also has the audio from the mayor and a q & a.
The main hurdles were cleared. The NBA signed off on the plan, AEG was on board, the city had the potential funding for its share and the Maloofs had (at least briefly) agreed to the deal. Assuming a new ownership group is on board with the arena plan as originally laid out it should be full steam ahead. Are there still issues to resolve? Sure. But Seattle's new arena still has to pass environmental studies etc and is similarly "not done" either.
People want to compare the Seattle to OKC debacle to this situation but there are some important differences. Shultz & company sold the Sonics to Clay Bennett after they couldn't reach a deal for a publicly funded revamp of Key Arena. Bennett then tried to swing a deal for a new $500 million arena, almost certainly knowing that it wouldn't happen, before announcing that he was moving the team to OKC and breaking the lease with Key Arena.
I agree that deal was all kinds of shady, but the key difference is that the Sonics were sold and THEN moved. Whether the NBA knew Bennett would do exactly that or not I don't know. But in this case it's very clear. There IS an arena deal in place in Sacramento and there IS an ownership group assembled by KJ that would buy the team and proceed with the arena plan that the NBA itself helped create. Alternately, selling to Hansen/Ballmer is absolutely guaranteeing the Kings disappear so the Sonics can exist again. They aren't the same situation. One was the guy who owned the team moving them under distasteful circumstances and under the (admittedly flimsy) guise of trying to work things out in Seattle first. This is a team being sold and the NBA choosing whether to move them from a city that has done everything it can do to keep them.
In either case the team would play in an outdated arena for a couple years while the all the other steps are taken to work out the details on the new arena and actually build the thing. The Maloofs heading to Virginia Beach would be more like what happened in Seattle. And the Kings becoming the Supersonics would actually be worse (IMO) than what happened to the Sonics. Which is why I have faith in Kevin Johnson's efforts and hopes that the NBA will do the right thing. They certainly don't always, but they should here.
People want to compare the Seattle to OKC debacle to this situation but there are some important differences. Shultz & company sold the Sonics to Clay Bennett after they couldn't reach a deal for a publicly funded revamp of Key Arena. Bennett then tried to swing a deal for a new $500 million arena, almost certainly knowing that it wouldn't happen, before announcing that he was moving the team to OKC and breaking the lease with Key Arena.
I agree that deal was all kinds of shady, but the key difference is that the Sonics were sold and THEN moved. Whether the NBA knew Bennett would do exactly that or not I don't know. But in this case it's very clear. There IS an arena deal in place in Sacramento and there IS an ownership group assembled by KJ that would buy the team and proceed with the arena plan that the NBA itself helped create. Alternately, selling to Hansen/Ballmer is absolutely guaranteeing the Kings disappear so the Sonics can exist again. They aren't the same situation. One was the guy who owned the team moving them under distasteful circumstances and under the (admittedly flimsy) guise of trying to work things out in Seattle first. This is a team being sold and the NBA choosing whether to move them from a city that has done everything it can do to keep them.
In either case the team would play in an outdated arena for a couple years while the all the other steps are taken to work out the details on the new arena and actually build the thing. The Maloofs heading to Virginia Beach would be more like what happened in Seattle. And the Kings becoming the Supersonics would actually be worse (IMO) than what happened to the Sonics. Which is why I have faith in Kevin Johnson's efforts and hopes that the NBA will do the right thing. They certainly don't always, but they should here.
I don't doubt he would've liked to have gotten the team at a bargain basement price. Our economic engine has a built-in predatory nature from the corporate offices all the way down to the individual buyers down at the discount stores in the likes of Tuesday Mornings, Big Lots and the like. Your missteps will be someone else's gain. Nothing wrong with it.
I think you might be being dismissive of his possible motives with 'just a favor for Sac politicians and his friend Jerry Buss.' In the early days, the Maloofs' Kings and their Palms had synergy. Even if the team was losing money, you can't tell me their success on the court along with the image they marketed didn't help the bottom line at the Palms. When the gambling market changed, so did the synergy created. The economy did the rest. Today, Sacramento is the capital of the ninth largest economy in the world. Just a favor for Sac politicians or a favor for his business empire? It's not just what you know, but who you know. He has a reason to be motivated within reason.
I think you might be being dismissive of his possible motives with 'just a favor for Sac politicians and his friend Jerry Buss.' In the early days, the Maloofs' Kings and their Palms had synergy. Even if the team was losing money, you can't tell me their success on the court along with the image they marketed didn't help the bottom line at the Palms. When the gambling market changed, so did the synergy created. The economy did the rest. Today, Sacramento is the capital of the ninth largest economy in the world. Just a favor for Sac politicians or a favor for his business empire? It's not just what you know, but who you know. He has a reason to be motivated within reason.
Great response by Carmichael Dave to the Seattle folk:
Carmichael Dave @CarmichaelDave
Responding on Seattle radio to Sonics fans saying "We feel bad, but if the team is already leaving...." http://pj.sulia.com:9090/my_thoughts/507ef78f-212c-4edb-ab8b-03ce902393b1/?source=twitter …
Carmichael Dave @CarmichaelDave
Responding on Seattle radio to Sonics fans saying "We feel bad, but if the team is already leaving...." http://pj.sulia.com:9090/my_thoughts/507ef78f-212c-4edb-ab8b-03ce902393b1/?source=twitter …
There's no way Stern does that if he doesn't want a team in Sac.
This tells me Stern is still in our corner, in KJ's corner and AEG's corner, not Sea's(although I'm sure he'd be more than happy to give them an expansion team for their arena efforts),nor does he appear to be willing to let the Maloofs get their way if there's anything which can be done about it, and an equal/fair bid from investors to keep the team here would/should be enough to prevent the Maloofs from getting their way.
I wish I could see George's reaction when he hears Stern asked AEG to re-engage with KJ/Sac.
This tells me Stern is still in our corner, in KJ's corner and AEG's corner, not Sea's(although I'm sure he'd be more than happy to give them an expansion team for their arena efforts),nor does he appear to be willing to let the Maloofs get their way if there's anything which can be done about it, and an equal/fair bid from investors to keep the team here would/should be enough to prevent the Maloofs from getting their way.
I wish I could see George's reaction when he hears Stern asked AEG to re-engage with KJ/Sac.
Another interesting point
http://probasketballtalk.nbcsports....son-lays-out-framework-for-kings-to-stay-put/
Hansen does business in SF. Microsoft has a major part of their business in CA. Maybe a little political pressure investigating their finances from the CA dept of finance or AG is in order. We do have some state politicians on our side.
http://probasketballtalk.nbcsports....son-lays-out-framework-for-kings-to-stay-put/
Hansen does business in SF. Microsoft has a major part of their business in CA. Maybe a little political pressure investigating their finances from the CA dept of finance or AG is in order. We do have some state politicians on our side.
and another lawsuit aiming to stop the Seattle arena build
http://www.king5.com/news/arena/New-suit-seeks-to-halt-SODO-arena-Hansen-NBA-187048021.html
http://www.king5.com/news/arena/New-suit-seeks-to-halt-SODO-arena-Hansen-NBA-187048021.html
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