This team has a history and is in sacramento now.....so what is a good decision for the league???? Chris Webber does not want the Kings Franchise to be eliminated and buried...there are other guys that were very good for the league that played here too and in the team history which is now very strongly tied to sacramento
Bring Your Own Burkle and other latest stuff
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Ask your friend this question:
Say you've been renting a house for a number of years. You've always told the owner that you would buy it if he ever decided to sell. He remained adamant about not selling. Finally, one day you find out he has offered the house for sale to a stranger. Would you be happy? Wouldn't you want first refusal to match the stranger's offer? That's where we're at. We do NOT want an expansion team. We want to keep our team - and the history that goes with it.
Seattle has been without a team for several years. It makes much more sense for them to get the expansion team.
Say you've been renting a house for a number of years. You've always told the owner that you would buy it if he ever decided to sell. He remained adamant about not selling. Finally, one day you find out he has offered the house for sale to a stranger. Would you be happy? Wouldn't you want first refusal to match the stranger's offer? That's where we're at. We do NOT want an expansion team. We want to keep our team - and the history that goes with it.
Seattle has been without a team for several years. It makes much more sense for them to get the expansion team.
And I grapple with this... this agreement with Seattle seemed to happen simultaneously with the end of the Virginia Beach rumors...
1. They vindictively looked to sell the team to an out of market bidder, despite the increase of price they may have received from an open bid
2. The "whales" in Sacramento remained quiet and purposely allowed the sell to Hansen/Balmer to tie themselves up with this contract, so they didn't have to engage in a bidding war with them. This option doesn't seem to make sense and it relies on the BOG denying the sale
I don't know the economics or rules on NBA contracts so I can't comment on number 2, but I don't want to believe number 1 because it would pain me to believe that such evil exists
I think people are missing the point on why the Magoofs sold to the Seattle group, without giving any of the "whales" to get in a bidding war.
Because they are broke and could not make the arena deal last year, which everyone and the NBA BOG knew was a good deal, they didn't want to look stupid and broke by selling to a "whale" and have them agree to the very same Sacramento arena deal that they couldn't afford. Thus, preserving "face", saying that Sacramento did not give a good deal on the arena and they had to sell to a Seattle owner.
They also had a mind of a second grader. Since they could not get what they wanted in moving the team to anaheim, which was blocked by KJ and Burkle, they took their "ball" (The Kings) and "punted" it away to Seattle, since they couldn't afford to play with it, they wanted to make sure no one else (people of Sacramento, KJ, Burkle, Ellison) could.
There is no doubt that if they had established a price from the Seattle group at $525mil, they would had got competing offers at or higher than that to keep them in Sacramento, but hey did not want to give anyone a chance to keep them in Sacramento, because they are cowards and knew everyone in Sacramento hated them for what they did to their beloved kings.
The Magoofs are the NBA version of what Frank McCourt did to the L.A. Dodgers. They turned a rabid fan base into fans that did not want to show up, in fear of helping support a terrible owner line his pockets.
I have been trying to remain positive, but here is the biggest thing that's been bothering me the last couple days.
Burkle met with David Stern in New York on Thursday. KJ had a press conference on Thursday where it seemed like he had a much bigger announcement planned but instead gave no real news and just a statement about moving forward.
The worry I have is that Johnson was planning to announce the Burkle/Mastrov partnership and the goal of a competitive bid but that Burkle did not hear what he wanted to hear from Stern and thus things changed. This is pure speculation on my part, and I am very much hoping to be wrong so I'd loveto hear a major positive announcement next week.
My overall feeling is still that the NBA prefers to accept local bids and keep teams in their cities. Seattle fans obviously have a very different perspective since their team was taken from them under shady circumstances but history had shown that the league generally gives every chance for a local buyer.
Burkle met with David Stern in New York on Thursday. KJ had a press conference on Thursday where it seemed like he had a much bigger announcement planned but instead gave no real news and just a statement about moving forward.
The worry I have is that Johnson was planning to announce the Burkle/Mastrov partnership and the goal of a competitive bid but that Burkle did not hear what he wanted to hear from Stern and thus things changed. This is pure speculation on my part, and I am very much hoping to be wrong so I'd loveto hear a major positive announcement next week.
My overall feeling is still that the NBA prefers to accept local bids and keep teams in their cities. Seattle fans obviously have a very different perspective since their team was taken from them under shady circumstances but history had shown that the league generally gives every chance for a local buyer.
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How I view the press conferences is that KJ has a plan to announce each step in his process separately. The local investors, the state support and the whale. This last press conference was about the state support in the process, which happened to coincide with the day that Stern and Burkle met. The whale will be announced when it's time.
As far as the meeting with Stern and Burkle, both men are rich/powerful and busy. You meet face to face when you are finalizing or coming to an agreement on something. They wouldn't waste each others time with a 2 hour face to face meeting that the NBA themselves acknowledged took place. This public acknowledgment by the NBA is important, as it is not a mistake. The information wasn't "leaked." If Burkle did not want it to be known he was meeting with the NBA, we wouldn't know. If the meeting was negative, Burkle walks away and KJ looks to Ellison or someone else, all behind closed doors.
As far as the meeting with Stern and Burkle, both men are rich/powerful and busy. You meet face to face when you are finalizing or coming to an agreement on something. They wouldn't waste each others time with a 2 hour face to face meeting that the NBA themselves acknowledged took place. This public acknowledgment by the NBA is important, as it is not a mistake. The information wasn't "leaked." If Burkle did not want it to be known he was meeting with the NBA, we wouldn't know. If the meeting was negative, Burkle walks away and KJ looks to Ellison or someone else, all behind closed doors.
When you get that good of a price - yes. And remember their strategy was to not show it was for sale until they did get an offer of their price. When they did get their price they signed a binding agreement knowing that the NBA would let a local group try to match. The league would then assure the Maloofs the would get their high price whether it was for Seattle or "local"- fine either way - no skin off their back. Welcome Sacramento!
But the Maloofs have set the price in stone. As a seller, don't you want the price of your product to go up? Now all KJ has to do is make a comparable offer around the $430-450 mark, and he has a good shot a the BoG rejecting the sale to Hansen. They closed the market to other bidders by not approaching them.
Why bid it when they get top dollar guaranteed AND don't have to decide for or against Sacramento. I don't have the numbers in front of me but the contract for sale to Seattle is half gain more or maybe 75 o/o increase over where iwould have started in a bidding contest before the Seattle group entered.
I think one of the toughest problems is KJ or anyone else bringing THE DEAL together which whale gets in with which other whale or whales and how many and which little fishes and the arena and management control and acceptance of AEG and front man KJ and the City Council and........ , you fill in the rest, oh yea, and on time and in a form and language and terns that satisfy ( justify) a decision for us by the NBA. Tough task but regardless I'm hopeful.
Just got my response back....
"Say you've been renting a house for a number of years. You've always told the owner that you would buy it if he ever decided to sell. He remained adamant about not selling. Finally, one day you find out he has offered the house for sale to a stranger. Would you be happy? Wouldn't you want first refusal to match the stranger's offer? That's where we're at. We do NOT want an expansion team. We want to keep our team - and the history that goes with it."
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That's not an equivalent argument. As a renter you have zero right to purchase the property. There is nothing in real estate law, anywhere, that would even warrant that discussion.
NBA franchises are extremely different. Ownership contracts can vary wildly between teams and the NBA and it's draconian leader, David Stern, ultimately get the final say in the matter.
Everyone should know that pro-sports are businesses. The ONLY chance a pro-sports team has at remaining loyal to a city is the specific ownership group itself that owns the team. That's what failed Seattle. The ownership (the spineless, weasel Howard Schultz) is the reason the Sonics left Seattle. And the Maloof family is the reason the Kings will ultimately leave Sacramento.
I am not so sure there will be two Whales going after the team with separate bids taken to the BOG. It looks to me like there are two different strategies in play here. I think Burkle is putting together a competing bid to be taken to the BOG as an alternative to the Seattle Offer. But it looks to me like Ellison is trying to steal the meat off the hook by getting the Minority owners to buy out the Maloofs. Watch the Thursday bankruptcy hearing for Cook. If I am right Cook will emerge from court out of Bankrupsy with his creditors made whole and new best friend in San Jose. If that happens then look for several key owners to exert their right of first refusal. After the majority ownership is wrested from the Maloofs THEN Mr. Ellis will make a deal with the minority owners to buy up a Majority share. Think of these as Plans A. and B.
This is bizarre. If the NBA has the final say and the NBA has been advocating for the Kings to stay in Sacramento for a few years now, why would they suddenly change their mind and want a franchise to move to another city especially if it wipes out a 60 year franchise history?
Anyway yes, the NBA has final say. They have not weighed in as to a decision yet except they HAVE arranged a meeting with Sacramento's local buyer which took place last Thursday and lasted 2 hours. Unless the Seattle people had a fly on the wall during that meeting, nothing is known about what was discussed although I suspect the possibility of the local buyer actually buying the Kings was the topic. The NBA cannot force the Maloofs to sell to anyone but they CAN prevent the sale to a person or group.
Drifting into rumor territory, one of the local minority owners said that the Maloofs would consider selling to a local group if the sale to Hansen/Ballmer was turned down.
The shame for the fans in Sacramento and Seattle is that the Maloofs are in a position to jerk everyone around. It is announced that the team was sold to Hansen yet missing from that announcement is whether or not the NBA has OK'd the sale. That gets Seattle's fans all excited but perhaps prematurely.
Anyway yes, the NBA has final say. They have not weighed in as to a decision yet except they HAVE arranged a meeting with Sacramento's local buyer which took place last Thursday and lasted 2 hours. Unless the Seattle people had a fly on the wall during that meeting, nothing is known about what was discussed although I suspect the possibility of the local buyer actually buying the Kings was the topic. The NBA cannot force the Maloofs to sell to anyone but they CAN prevent the sale to a person or group.
Drifting into rumor territory, one of the local minority owners said that the Maloofs would consider selling to a local group if the sale to Hansen/Ballmer was turned down.
The shame for the fans in Sacramento and Seattle is that the Maloofs are in a position to jerk everyone around. It is announced that the team was sold to Hansen yet missing from that announcement is whether or not the NBA has OK'd the sale. That gets Seattle's fans all excited but perhaps prematurely.
Tuesday was press conference to announce plan. At Wednesday press conference, he announced he is meeting with stern on Thursday and will announce major equity partners next week. Thursday, KJ spoke with stern and also in person with darrel Steinberg and ted gains- after which they held a brief presser. Burkle was reportedly in Sacramento on Wednesday and is confirmed to have met with stern at some point on Thursday in person.
I don't think it was ever planned for the major equity partner to be appointed last week. KJ said some point next week on Wednesday.
I don't think it was ever planned for the major equity partner to be appointed last week. KJ said some point next week on Wednesday.
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