Deal in place!!

[Warhawk]

I'm not trying to **** on anyone's parade, but from my understanding, if the BOG reject the move to Seattle, then ownership will belong to the maloofs, am I right? If so, how could we all be sure that the maloofs will sell to Burkle and co.? I know it's the most logical thing, but the last thing these douche bags are logical. My biggest fear is that the maloofs would be so spiteful that they will try to find a way to screw the town once again.

I wonder if the NBA can take over a team if the owners are insolvent like MLB did to the Dodgers? If the NBA can do this, then I would feel alot more relieved.

Yes, the NBA can take over a team and then sell it later, if need be.

Yes, the Maloofs would still need to sell the team. But they said they would accept backup offers, and that is what this is.

And if they are losing money now, imagine what it would be like next year when the fans don't show up in protest of them trying this stunt a SECOND time. Empty arenas do not put $$$ in owner's pockets.

 

[PurpleHaze]

Kings Vs Lakers....Always a huge contingency of Laker fans show up to games out here. Not sure how our fanbase turnout is in LA, as I have never been to any Kings-Lakers games at Staples....
Warriors Vs Lakers......Kings fans ALWAYS show up in big numbers in Oak-Town

in-state rivals...makes for a great story line going into games...

I think (in fact I know) NBA would like to see big rivalry develop and flourish between the two Northern California teams - to surpass King-Lakers. With one of Kings new possible owners a current Warriors share holder (poised to sell his stake) this is another plus in making Burkle-Mastrov-Ravadive investment bid the winning proposal before BoGs next month.

 

[JB_kings]

I'm not trying to **** on anyone's parade, but from my understanding, if the BOG reject the move to Seattle, then ownership will belong to the maloofs, am I right? If so, how could we all be sure that the maloofs will sell to Burkle and co.? I know it's the most logical thing, but the last thing these douche bags are logical. My biggest fear is that the maloofs would be so spiteful that they will try to find a way to screw the town once again.

I wonder if the NBA can take over a team if the owners are insolvent like MLB did to the Dodgers? If the NBA can do this, then I would feel alot more relieved.

Assuming the BOG rejects Hansen. We have to assume that the money is the same or close enough to not matter. The NBA would not open itself to trying to force them to take less money. The Maloofs can show real damages in court. So with the money the same, they take that and go. Because if they don't, they run a risk of losing a serious amount of money.

Why? Because if they try to run the team one more year, they lose a lot of money in a yet another lame duck year again. They can't afford that and would be stupid to even try. They have no plan B move to another city, so they stay put in ST Arena and lose money they don't have.

Even these dummies know the party is over. They've resigned to selling and probably have been making plans for their money. So they are done.

 

[Bibby10AZ]

What a great day! First wildcats win now this. Go kings!

 

[pdizo916]

Assuming the BOG rejects Hansen. We have to assume that the money is the same or close enough to not matter. The NBA would not open itself to trying to force them to take less money. The Maloofs can show real damages in court. So with the money the same, they take that and go. Because if they don't, they run a risk of losing a serious amount of money.

Why? Because if they try to run the team one more year, they lose a lot of money in a yet another lame duck year again. They can't afford that and would be stupid to even try. They have no plan B move to another city, so they stay put in ST Arena and lose money they don't have.

Even these dummies know the party is over. They've resigned to selling and probably have been making plans for their money. So they are done.

I hope you're right, bros; the Maloofs are REAL IDIOTS AND SPITEFUL PEOPLE. Anytime that the Maloofs still has possession of the Kings, ANYTHING can happen.


With this said, this is a very good day for Kings fans. I wonder if the design of the arena going to change?

 

[Livinthedream]

I'm not trying to **** on anyone's parade, but from my understanding, if the BOG reject the move to Seattle, then ownership will belong to the maloofs, am I right? If so, how could we all be sure that the maloofs will sell to Burkle and co.? I know it's the most logical thing, but the last thing these douche bags are logical. My biggest fear is that the maloofs would be so spiteful that they will try to find a way to screw the town once again.

I wonder if the NBA can take over a team if the owners are insolvent like MLB did to the Dodgers? If the NBA can do this, then I would feel alot more relieved.

David Stern specifically addressed this in his Oakland press conference. He said that at the end of the day, it is for the BOG to make the ultimate decision as to who the team will be sold to and where it will be located. Stern seemed irritated at even the thought that the Maloofs would have a say in any of this.

 

[pdizo916]

David Stern specifically addressed this in his Oakland press conference. He said that at the end of the day, it is for the BOG to make the ultimate decision as to who the team will be sold to and where it will be located. Stern seemed irritated at even the thought that the Maloofs would have a say in any of this.

If that's the case, then that's a HUGE relief.

 

[ParniValjak]

I just finished reading the term sheet and I can say its a lot better one for the city and the Kings than last year's version and this is made so much easier and fairer deal to broker because of having a stronger potetnial partner in Burkle/Mastrov/Viv!

By cutting out AEG, there is more of the pie to go around. The only way I see this not getting the votes is if the small minded complex is strong amongs council members. I am confident it's not and I expect this to pass quite easily. Preedicting 8-1 vote, at worst 7-2 which is a home run for us!

We the 3 musketeers just need to up the offer for the team and it's game on!

 

[ParniValjak]

If that's the case, then that's a HUGE relief.

He certainly did! He even said that he spent a lot of time and effort over the years to make sure that BOG had that power and so that when the ownership group decides to live the NBa they do not have the right to tell them who they are selling to and where the team will be located!

I don't think it is a non-issue for us. The issue is beating the Seattle bid and I am not talking in money terms only!

 

[Fear the Putin]

Been helping my buddy move all day, so come home exhausted, check my kings news and see this amazing bit about having a term sheet finalized. Helps soothe a lot of muscle pain.

Oh and please everybody, dont even bother reading sonics websites. They make me nauseas.

 

[Gary]

Been helping my buddy move all day, so come home exhausted, check my kings news and see this amazing bit about having a term sheet finalized. Helps soothe a lot of muscle pain.

Oh and please everybody, dont even bother reading sonics websites. They make me nauseas.

It's comedy relief for me. They are like lost puppies. They try to pick apart everything that we have done with their tripe that's laden with mistakes and things that aren't even true. They are basically lying to themselves to make them feel better.

Hey Seattle, We have been through this before, like you, but we have people in powerful places that won't allow our team to move, unlike you whiny b-stards. Go make another "Sonicsgate" sequel. Wear those new sonics shirts you all had printed up and whine to the camera about how the NBA hates you. Sell me some so that I have nice rags to wash my car with.

 

[kennadog]

This deal is so much better for the city than last year's deal. What a difference people with real money make!

 

[Warhawk]

This deal is so much better for the city than last year's deal. What a difference people with real money make!

Yep. This deal is a LOT better for the City. VERY excited for Tuesday and then to see what happens with KJ in NY!

 

[Warhawk]

Something else to keep in mind - the NBA has been with us at each step we take in trying to keep the team:

Aaron Bruski‏@aaronbruski 19m
SAC ACM Dangberg on term sheet: We've coordinated with and have reviewed the key terms with the NBA's outside counsel & staff

 

[Kingsfan23]

We still have to wait for the competing offer but once that's in I would give us about a 99% chance. That 1% is if the rest of the owners are as assholish as the Maloofs.

We have probably have 4-6 votes in the bag. 3 from CA teams, and Houston and Dallas and there is one I am forgetting...

I have to disagree... I don't see any reason why other CA teams would automatically vote for us, particularly GSW which would very much like our market.

As for the deal, I expected the arena to be put together, now lets see what to me is the toughest part - someone matching 525

 

[ParniValjak]

Something else to keep in mind - the NBA has been with us at each step we take in trying to keep the team:

I think people that cannot see the fingerprint's of NBA guidance here are either living under a rock or are die hard pessimists! This whole thing has NBA written all over it and NBA has been guiding us as much as they posibbly could given the restrictions. I am sure they have done similar things with Seattle but for NBA to let the team leave would be a big PR disaster for the league!

 

[Tetsujin]

I have to disagree... I don't see any reason why other CA teams would automatically vote for us, particularly GSW which would very much like our market.

As for the deal, I expected the arena to be put together, now lets see what to me is the toughest part - someone matching 525

Dear lord. Three months in and you're still of the impression that it's 525 million?

I know being a Negative Nancy is the hip thing these days but come on.

 

[Mike0476]

Yes, roughly 500-600 million to buy the team and build the arena. Maybe at least $400 million to put into development around the arena and K Street. A total of a billion into the team + arena+ development around arena/K Street. I'm so excited I can't stand it. Will certainly be celebrating this tomorrow

Yes, we will celebrate tomorrow and for some of us it will be a little more special before the game. If you're inside the arena before tip off you will see what I am talking about. Then we have more work to do on Tuesday.

And @#$! Sonics fans, who don't have a clue. They put down OKC fans for not understanding the facts of Seattle and the Sonics and now they are guuily of exactly that as regards Sacramento. They get most of the actual facts wrong.

That made me laugh.

Awww, gee. Thank you for the compliment. I know all of Crown Downtown will certainly be at the opening of a new arena. We can all party hearty together when that day arrives!

Looking forward to it.

 

[Tetsujin]

Doing some late night term sheet reading. Couldn't help but (darkly) laugh at this:

Naming Rights
Any name proposed to be associated with the ESC shall be tasteful and not to be
a cause for embarrassment to the City

So I take it that Zing! Vodka Arena won't be a viable name for the new ESC?

 

[lwc]

doing some late night term sheet reading. Couldn't help but (darkly) laugh at this:


So i take it that zing! Vodka arena won't be a viable name for the new esc?

lol!

 

[Tetsujin]

Opposition claiming that four days isn't enough to read the termsheet, which is stupid considering it took me a whopping thirty minutes to plow through the thing. Are they functionally illiterate or something?

 

[Warhawk]

Opposition claiming that four days isn't enough to read the termsheet, which is stupid considering it took me a whopping thirty minutes to plow through the thing. Are they functionally illiterate or something?

Based on the questions they ask, yes. Like you, I plowed through it pretty quickly last night.

 

[matthew76]

Went to the Seattle Sonics forums just to see what they are saying.... They're a cocky breed, aren't they.

 

[Elektrik]

Assuming the BOG rejects Hansen. We have to assume that the money is the same or close enough to not matter. The NBA would not open itself to trying to force them to take less money. The Maloofs can show real damages in court. So with the money the same, they take that and go. Because if they don't, they run a risk of losing a serious amount of money.

Why? Because if they try to run the team one more year, they lose a lot of money in a yet another lame duck year again. They can't afford that and would be stupid to even try. They have no plan B move to another city, so they stay put in ST Arena and lose money they don't have.

Even these dummies know the party is over. They've resigned to selling and probably have been making plans for their money. So they are done.

Probably going to try and open a 3rd tower at the Palms. After all, 3rd time is a charm.

 

[Tetsujin]

Probably going to try and open a 3rd tower at the Palms. After all, 3rd time is a charm.

I don't think the owners of the Palms would appreciate that.

 

[Elektrik]

I don't think the owners of the Palms would appreciate that.

Exactly! My point being that the magoofs wouldn't know a sound business decision if it walked up to them and slapped them in the face.

 

[Brac-o-matic]

Went to the Seattle Sonics forums just to see what they are saying.... They're a cocky breed, aren't they.

Not as cocky as the creepy lot who hang in the Sac Bee Comments section. I expect Seattle citizens to feel the way those on the forums do, and believe the lies. They are about to miss out on the Sonics AGAIN. They love their city, and it hurts them. When the same rhetoric comes from Sacramento, it is disturbing.

So, that's why I ignore both forums, and just get excited about the future potential here...

 

[Glenn]

Opposition claiming that four days isn't enough to read the termsheet, which is stupid considering it took me a whopping thirty minutes to plow through the thing. Are they functionally illiterate or something?

Yes, is the short answer. As a person who has read two term sheets in my entire life, I found that having read the first made it a lot easier to read the 2nd. I hate politics especially when people lie.

 

[TyFreak Evans]

Opposition claiming that four days isn't enough to read the termsheet, which is stupid considering it took me a whopping thirty minutes to plow through the thing. Are they functionally illiterate or something?

They're all politicians. What the heck did you expect them to say? Give them a 1/2 page term sheet, they'll still stick to their claim...

 

[JB_kings]

Opposition claiming that four days isn't enough to read the termsheet, which is stupid considering it took me a whopping thirty minutes to plow through the thing. Are they functionally illiterate or something?

Steve Hansen has been sort of using this as his talking point. He's a newbie trying to earn points with the public. I think privately he's ok with voting on this thing Tuesday. And I'm pretty darn sure that Hansen would vote for it as well if he was pushed into voting. Because he would go down the dumbest politician of all time to be voting against private investors ready to pour 1 billion dollars of investment into his district.

As long as the it doesn't hurt the NBA deadlines for consideration and does nothing to weaken our offer, they can postpone it until 4/2 if it makes the council happy. It's a pretty good deal this week and it will be next week. The NBA got their copy of the term sheet yesterday, so I don't think it matters as long as before 4/3 they have a council vote. That is unless one of the council starts playing around starts amending the thing to include other stuff, then we are good. And yes that newbie is probably loopy enough to try and change the wording of something just to make it look like he's paying attention.