City council vote and latest news, rumors, etc.
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I see no other choice but to put all my faith into KJ. I don't think he would put his faith in Mastrov if he was the only guy bidding on the kings. Mastrov has to have someone else behind him.
Grant Napier just said he's gonna assume that Burkle will be part of the investment group. He didn't elaborate any further.
Grant Napier just said he's gonna assume that Burkle will be part of the investment group. He didn't elaborate any further.
Being reported Burkle will have a stake in the team.
Also, I personally doubt Mastrov/Burkle would have made it this far without being told exactly how much they should come up with by Stern. I'd assume KJ/Stern have talked at length about exactly how much a Sac bid would need to be and Martov/Burkle met that number.
Also, I personally doubt Mastrov/Burkle would have made it this far without being told exactly how much they should come up with by Stern. I'd assume KJ/Stern have talked at length about exactly how much a Sac bid would need to be and Martov/Burkle met that number.
Exactly.
Kevin Johnson wouldn't be backing this deal if he wasn't convinced it was a winner. I'm pretty sure he's thoroughly vetted all concerned, if for no other reason than he's pretty much staked his entire political future on this succeeding.
Are there still questions? Oh yeah, but I'm willing to bet KJ has all the answers. This was as masterful a presentation tonight as I have ever seen.
Kevin Johnson wouldn't be backing this deal if he wasn't convinced it was a winner. I'm pretty sure he's thoroughly vetted all concerned, if for no other reason than he's pretty much staked his entire political future on this succeeding.
Are there still questions? Oh yeah, but I'm willing to bet KJ has all the answers. This was as masterful a presentation tonight as I have ever seen.
Congrats everyone, its a wrap! Its not like Sacramento and seattle are both bidding over getting an expansion team. The two cities are bidding on the Kings and the Kings are ALREADY IN SACRAMENTO. Add this to the fact that there are multiple billionairs involved in buying the team and this thing is done and over.
I try to guard against being overly optimistic, but I tend to agree here. I think that with both sides having wealthy bidders and arena plans, the pressure is on Seattle to convince the BOG that they should be allowed to take the team and move it. I'm not sure it matters about the binding agreement or what the Maloofs want. If the sales agreement or the Maloofs mattered, then this would have been over a long time ago and KJ wouldn't have been encouraged to put together this ownership team. If you add to the equation that Sac intends to have a term sheet for an arena by the BOG meeting, I think we're in the drivers seat.
The March 1 deadline was self-imposed by KJ. I'm guessing that the meeting Burkle had with Stern a while back was to address issues on the potential arena project. Since that part of the deal will require approval by the City Council, it won't be available. I'm also guessing that Mastrov will include a basic overview of the arena proposal, with details to follow before the BoG meeting in April.
Since Seattle doesn't have an ironclad arena deal in place either, I don't think this will be an insurmountable problem.
Since Seattle doesn't have an ironclad arena deal in place either, I don't think this will be an insurmountable problem.
What is the Hansen/Balmer group's next move? How do they convince the NBA to allow them to uproot an NBA franchise and move it to seattle, given these circumstances? The only reasoning that can be used to make the case for seattle is that they made their offer first. Its well documented that the Maloofs went around panhandling the team to every city not named Sacramento. The group of people that will make the ultimate decision on where the Kings will be located arent going to say to themselves," Well, Seattle made the bid for the team first and thats all that matters despite the fact that the owners never gave Sacramento a chance to make a bid." Not happening.
Right on all counts? 
Whales announced.
Former player as minority owner.
Arena location and basic division of proposed ownership/division of responsibility from whales.
$50 million bomb on local businesses kicking up for sponsorship.
WNBA return.
Under-promise and over-deliver. Just the way to play it.
And it was fun being there! Crown Downtown started all the "Sacramento" chants tonight. Had to bail before the group photo at the end to get home to family.
Whales announced.
Former player as minority owner.
Arena location and basic division of proposed ownership/division of responsibility from whales.
$50 million bomb on local businesses kicking up for sponsorship.
WNBA return.
Under-promise and over-deliver. Just the way to play it.
And it was fun being there! Crown Downtown started all the "Sacramento" chants tonight. Had to bail before the group photo at the end to get home to family.
According to Yahoo Sports:
"Mastrov and the local investors' bid is "slightly lower," than the $341 million that the Chris Hansen-Steve Ballmer group has agreed to pay for the available 65 percent of the Kings".
http://sports.yahoo.com/news/nba--s...bid-to-challenge-seattle-group-042956900.html
Hope the 'slightly lower' bid isn't a hindrance..
"Mastrov and the local investors' bid is "slightly lower," than the $341 million that the Chris Hansen-Steve Ballmer group has agreed to pay for the available 65 percent of the Kings".
http://sports.yahoo.com/news/nba--s...bid-to-challenge-seattle-group-042956900.html
Hope the 'slightly lower' bid isn't a hindrance..
Really hoping this comes in as close to the Seattle bid as possible. I've always thought one of the most compelling pieces (even if the league/owners are too polite to mention it) of a counter was how an equal offer for a less attractive market would be compelling for how it would impact market values moving forward. There are plenty of legitimate reasons why a sac offer should be less but I'd like to see them remove any easy answer for why they would go with the Seattle deal. Nothing easier than claiming they weren't going to force owners to accept a smaller offer, even if the math doesn't support it.
One thing to consider is that if the Mastrov team bids something like $320 million for the Maloof/Heinrich 65% then the Maloofs still come out ahead if they get to keep the $30 million non-refundable payment that has been reported. I wouldn't assume that's what is meant by "lower" in that article, but it might factor in.
Also remember that the BOG isn't really looking at the size of the bid other than not wanting to start a precedent of forcing a team to be sold to a lower bidder. Their main concerns are regarding allowing a team to move when a viable option is available at their current location, and regarding rejecting a sale that is perfectly valid and good for the league in its own right. I think they have to weigh those two concerns if both offers are good ones.
Also remember that the BOG isn't really looking at the size of the bid other than not wanting to start a precedent of forcing a team to be sold to a lower bidder. Their main concerns are regarding allowing a team to move when a viable option is available at their current location, and regarding rejecting a sale that is perfectly valid and good for the league in its own right. I think they have to weigh those two concerns if both offers are good ones.
That's actually very cute -- normally just the sort of devious little twist I think of myself. Hats off to you. Send it to the BOG.
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