Bring Your Own Burkle and other latest stuff
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Several posters have voiced the concern that even if the sale to Seattle were blocked there is no assurance that the Mallofs will sell locally or o Burkle. However, this is one of the BIG hopes for the right of first refusal. Assuming the Minority owners do have this right in their contracts and that they were NOT offered the opportunity to buy the Maloof shares BEFORE the deal was inked with Seattle; then they may have opened a Pandora's box. The Minority owners not only could FORCE a sale from the Maloofs to them, but there are clear grounds for a law suite against he Maloofs afterwards if they have to match the Seattle price. The essential argument would be that the team was valued by experts at 350 million but because the Maloofs violated the contract the price became inflated to 525 million. In essence they would calculate the per share price BEFORE the Seattle deal then calculate the difference and of course pursue punitive damages on top of it....
The main point being that while every one assumes the Maloofs will have to sell locally if the Seattle deal collapses, they may have no choice at all if the Minority owners exercise their option, This also becomes a very nice bargaining chip for the Minority owners to steer the deal to someone they prefer the Maloofs sell to.
The main point being that while every one assumes the Maloofs will have to sell locally if the Seattle deal collapses, they may have no choice at all if the Minority owners exercise their option, This also becomes a very nice bargaining chip for the Minority owners to steer the deal to someone they prefer the Maloofs sell to.
As Mayor KJ lines them up, every billionaire in the world wants the Kings
"Who doesn't want to have courtside seats to watch Travis Outlaw," howled an elated Ellison. "All my friends are gonna be jealous as hell when I own this squad."
http://kingstalkingpoints.blogspot.com/2013/01/report-every-billionaire-in-world-wants.html
"Who doesn't want to have courtside seats to watch Travis Outlaw," howled an elated Ellison. "All my friends are gonna be jealous as hell when I own this squad."
http://kingstalkingpoints.blogspot.com/2013/01/report-every-billionaire-in-world-wants.html
As Mayor KJ lines them up, every billionaire in the world wants the Kings
"Who doesn't want to have courtside seats to watch Travis Outlaw," howled an elated Ellison. "All my friends are gonna be jealous as hell when I own this squad."
http://kingstalkingpoints.blogspot.com/2013/01/report-every-billionaire-in-world-wants.html
"Who doesn't want to have courtside seats to watch Travis Outlaw," howled an elated Ellison. "All my friends are gonna be jealous as hell when I own this squad."
http://kingstalkingpoints.blogspot.com/2013/01/report-every-billionaire-in-world-wants.html
Is he still running the operation down there? I was under the impression that he's been squeezed out of the position (wouldn't be the first time I'm wrong). With the drug and prostitution sting that has recently been reported, I would have to wonder if things weren't linked (not sure when the investigation actually happened).
Because the Maloofs have been so so erratic it really is impossible to know what goes on in their collective mind or to predict their actions. That being said it does appear that for a few years now they have been trying to sell the team at an inflated value (presumably because given their current fiscal position that is the only way they can pocket any money). They have turned down offers to keep the team in Sacramento presumably because they were too low, but some speculate that for whatever reasons they actually want to punish either the city or Kevin Johnson or both. Regardless by all accounts the Seattle offer is well above the estimated value of the team. Would they take the same offer to keep the team in Sacramento? again who knows. from my position I just flat do not truts the Maloofs to make their own decisions regarding the team. If the Seattle deal gets nixed by the BOG I could see them acting out of pure spite and trying to sell the team to Frank VanderSloot in Idaho or Sheldon Andelson in Vegas. Or trade it for a gold mine in Alaska so they could join the cast of Alaskan Gold Rush... seriously as someone else has already said we are talking Fredo and his brother Fredo and his other brother Fredo here. This is why I really hope the right of first refusal can FORCE them to sell to the Minority owners.
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This is good to know. I was talking to my friend about it in Seattle and I am going to share it with you and tell me how far off base this is. He wrote that last part after the dots
Sorry but you've run in to a bigger snag by the name of Larry Ellison. No one in Sacramento can compete with the Hansen group cash-wise as of now. Any combination of Burkle, Ellison, and Mastrov can back one of the minority holders and buy the team. The Maloofs knew this and just got a free 30 million from Hansen and are going to sell the team to the Sac investors for the same price and make more money on the deal. Long Live the Kings!!!
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I am going to do something. I am going to look at it from your view. We understand that today Ron Burkle went to the NBA office in NY and talked to David Stern. Now what was talked about was how serious the talk was about keeping the Kings in Sacramento. What was the chance for them to stay in Sacramento? Also he talked to the NBA about moving the arena idea from the railyards to the Crown Plaza in downtown Sacramento.
Then today Larry Ellison was going to meet with your mayor Kevin Johnson about buying the team.
I'll address it for you.....
Look remember the arena deal in March 2012 between City of Sacramento, AEG and the Maloofs were??? It was $250+ from Sacramento City parking lots, AEG was going to give $58.75 million and the Maloofs give $73.25 million at the railyards. Now Burkle says if we build it at Crown Plaza in Sacramento, the price is going to be a lot cheaper than the $391 million dollar arena at the railyards.
So you will have all the money you need plus it would be cheaper for Burkle to buy in. So in the Crown Plaza arena deal, you basically have all the same parties involved still offering the same money ($58.75 from AEG/ $250 million from the City of Sacramento Parking lots and instead of Maloofs there at $58 million, you have Burkle replacing them at a cheaper price. So as Burkle is a billionaire, $58 million is nothing to him. Understand??? So if Burkle agrees to the deal, you now have an arena deal in Sacramento. Don't think that Stern doesnt see this and will do whatever it takes for the deal to go through.
So I am guessing without building a complex there at the railyards, The Crown Plaza arena Burkle's price will be 40+million or less. Lot cheaper than at the railyards! The railyard arena is more expensive because your adding a hotel/ entertainment center and you have to pay a boatload of money to clean the railyards. I mean Enviromental Review costs and all of that is expensive. With the arena at the plaza, you wouldnt have to do that because you just tear down the movie theater and the buildings around there and then you just build the arena. Get me?? So your just building an arena and that is about it because you already have nearby parking garages and no place to build more. You just building an arena.
Now here is your best bet. You need to allow the Kings to come to Seattle because you would get rid of the Maloofs. Secondly, if you dont and the NBA doesnt allow the Kings to leave, the Maloofs are still your owner and they dont like Burkle. So then that would mean the Kings would still be looking to move the team to another city. So you start from page 1 again.
Then the NBA still wants the Seattle #13 market and Steve Ballmer in the NBA, so Seattle would get an expansion team and you get a chance to get nothing. So your best bet is the Kings come to Seattle and get rid of the Maloofs, the NBA with Ellison and Burkle involved with a strong arena agreement plan in place, then NBA BOG will not turn you down and you will get an expansion team that will stay in Sacramento forever. That is really the only choice you have.
See if the NBA BOG turns down the request, the problem is the Maloofs regain ownership and they dont have to stay. So you get a chance of losing the franchise. But if you allow them to leave and you get an agreement from the NBA you will get an expansion team next season or the year after that, you wont have the Maloofs as owners and you will have ellison and Burkle as owners. (There is no way NBA wants Ellison moving the team to San Jose. You already got the Warriors in San Jose market. Territory rights come into play!) So you end up with a new "Kings" and the fans will come out and sell out the place again with the cowbells ringing and all that.
So you end up with a team with new owners that dont want the Kings to leave town and you would have a new arena at crown plaza by co-owner Ron Burkle.
Sorry but you've run in to a bigger snag by the name of Larry Ellison. No one in Sacramento can compete with the Hansen group cash-wise as of now. Any combination of Burkle, Ellison, and Mastrov can back one of the minority holders and buy the team. The Maloofs knew this and just got a free 30 million from Hansen and are going to sell the team to the Sac investors for the same price and make more money on the deal. Long Live the Kings!!!
........................................................
I am going to do something. I am going to look at it from your view. We understand that today Ron Burkle went to the NBA office in NY and talked to David Stern. Now what was talked about was how serious the talk was about keeping the Kings in Sacramento. What was the chance for them to stay in Sacramento? Also he talked to the NBA about moving the arena idea from the railyards to the Crown Plaza in downtown Sacramento.
Then today Larry Ellison was going to meet with your mayor Kevin Johnson about buying the team.
I'll address it for you.....
Look remember the arena deal in March 2012 between City of Sacramento, AEG and the Maloofs were??? It was $250+ from Sacramento City parking lots, AEG was going to give $58.75 million and the Maloofs give $73.25 million at the railyards. Now Burkle says if we build it at Crown Plaza in Sacramento, the price is going to be a lot cheaper than the $391 million dollar arena at the railyards.
So you will have all the money you need plus it would be cheaper for Burkle to buy in. So in the Crown Plaza arena deal, you basically have all the same parties involved still offering the same money ($58.75 from AEG/ $250 million from the City of Sacramento Parking lots and instead of Maloofs there at $58 million, you have Burkle replacing them at a cheaper price. So as Burkle is a billionaire, $58 million is nothing to him. Understand??? So if Burkle agrees to the deal, you now have an arena deal in Sacramento. Don't think that Stern doesnt see this and will do whatever it takes for the deal to go through.
So I am guessing without building a complex there at the railyards, The Crown Plaza arena Burkle's price will be 40+million or less. Lot cheaper than at the railyards! The railyard arena is more expensive because your adding a hotel/ entertainment center and you have to pay a boatload of money to clean the railyards. I mean Enviromental Review costs and all of that is expensive. With the arena at the plaza, you wouldnt have to do that because you just tear down the movie theater and the buildings around there and then you just build the arena. Get me?? So your just building an arena and that is about it because you already have nearby parking garages and no place to build more. You just building an arena.
Now here is your best bet. You need to allow the Kings to come to Seattle because you would get rid of the Maloofs. Secondly, if you dont and the NBA doesnt allow the Kings to leave, the Maloofs are still your owner and they dont like Burkle. So then that would mean the Kings would still be looking to move the team to another city. So you start from page 1 again.
Then the NBA still wants the Seattle #13 market and Steve Ballmer in the NBA, so Seattle would get an expansion team and you get a chance to get nothing. So your best bet is the Kings come to Seattle and get rid of the Maloofs, the NBA with Ellison and Burkle involved with a strong arena agreement plan in place, then NBA BOG will not turn you down and you will get an expansion team that will stay in Sacramento forever. That is really the only choice you have.
See if the NBA BOG turns down the request, the problem is the Maloofs regain ownership and they dont have to stay. So you get a chance of losing the franchise. But if you allow them to leave and you get an agreement from the NBA you will get an expansion team next season or the year after that, you wont have the Maloofs as owners and you will have ellison and Burkle as owners. (There is no way NBA wants Ellison moving the team to San Jose. You already got the Warriors in San Jose market. Territory rights come into play!) So you end up with a new "Kings" and the fans will come out and sell out the place again with the cowbells ringing and all that.
So you end up with a team with new owners that dont want the Kings to leave town and you would have a new arena at crown plaza by co-owner Ron Burkle.
Who knows, the Maloofs may not wish to go down in the history of the NBA as the owner group despised by their city. Who knows, they may have pride and want the people of Sacramento to like them and wish to part on good terms. At one point, they valued their good relationship with Sacramento. Money is money. Burkle/Malov/etc. may be able to pay an extra $10-35 mil and that may be hard to turn down. A sale to a group that keeps the team local is inherently less costly than a sale that involves a move. Advantage: Sacto. Hansen and Ballmer have already locked in their offer. Ooops! Now the local ownership can offer a little more.
There are many reasons why the Maloofs would want to sell locally and I believe they told Cook, a minority partner, that they would sell locally if there move to Seattle turned down. They can keep playing this "let's try to move" game but have already been turned down to go to Anaheim and if they are turned down on a move to Seattle, what on earth would make anyone believe the next move would be authorized? I seriously don't think the whole family is evil.
I think they are losing money in Sacramento and how long does anyone thing that can go on?
There are many reasons why the Maloofs would want to sell locally and I believe they told Cook, a minority partner, that they would sell locally if there move to Seattle turned down. They can keep playing this "let's try to move" game but have already been turned down to go to Anaheim and if they are turned down on a move to Seattle, what on earth would make anyone believe the next move would be authorized? I seriously don't think the whole family is evil.
I think they are losing money in Sacramento and how long does anyone thing that can go on?
This is not the probelm. People keep on acting like its even a possibility they come back. Its not.
The NBA will KICK them out of the league, which they have the power to do, if they don't go now. They are an active embarrassment causing the league damage. They have no money, have agreed to go. They are GONE. The only minor detail left is who they are TOLD to sell to. Because that is the case as well. The Maloofs signed a paper for a certain amount. Packed up their bags and left Sacto. They are no longer NBA owners. Whatever their intent, their sleaze, their backstabbing up until this point, its done now. They are out in 3 months. And its the NBA who gets to decide to whom they sign the team over.
The NBA will KICK them out of the league, which they have the power to do, if they don't go now. They are an active embarrassment causing the league damage. They have no money, have agreed to go. They are GONE. The only minor detail left is who they are TOLD to sell to. Because that is the case as well. The Maloofs signed a paper for a certain amount. Packed up their bags and left Sacto. They are no longer NBA owners. Whatever their intent, their sleaze, their backstabbing up until this point, its done now. They are out in 3 months. And its the NBA who gets to decide to whom they sign the team over.
So I just got done talking to the wife of a radio host who works for 98.5. He is a good friend of whitey from the rise guys.... And whitey told her Chris webber is on board as an investor and that stern is leaving the bid open and on the table until sacramento comes and matches it!!!!! I'm pretty stoked I'm at work and am posting this in the bathroom stall because I just found out!!!
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