Hansen agrees to price for Cook's piece of the Kings
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Bucher obviously doesn't pay attention:
"but their level of commitment won't be certified until they make the same non-refundable payment of $30 million to the Maloofs that the group from Seattle already has made"
How would they be able to make a non-refundable deposit on something that's already sold, pending league approval? Now, if the league rejects the Seattle offer and the Clowns want to sell to the new Sacramento ownership group and want a non-refundable deposit, that's a different story.
"Should the league's owners reject the Seattle group in favor of the Sacramento group without meeting that term, the source said, the Maloofs are almost certain to file an anti-trust suit against the league"
All team sales and relocations are subject to league approval. They knew that when they signed up. Again, if they want the new Sacramento ownership group to make a deposit AFTER the Seattle sale is rejected, that's a different story.
"Sacramento group also has to deal with several different entities owning parcels of the land upon which the proposed arena would be built. Working through how much the land is worth and a sale price for each parcel is not a quick process"
Looked to me like that's all ironed out. Otherwise they couldn't commit to a term sheet? And not only that, as stated in the city council meeting, the new ownership group is valuating the Natomas land at its estimated POST-MORATORIUM value which is very generous of them.
"nor is the required cash-out by Warriors part-owner Vivek Ranadive to join the Kings' group. I also have to wonder, considering the potential benefit for the Warriors in having all of Northern California to themselves, how motivated they'll be to expedite the process if doing so enhances the chance of the Kings staying"
Warriors probably don't care... having a team 80+ miles away makes no difference to them. Very few (if any) people from this region would care to go to their games if the Kings are gone. Most likely everyone would be so heartbroken that they wouldn't even care to watch another NBA game. As for Ranadive's shares, I would imagine that in the worse case scenario he could leave his shares in the custody of the NBA until they are sold, effectively removing himself from that organization? Or maybe the Maloofs could be interested in them? LOL
As far as the anti-trust lawsuit - if the Sacramento ownership group is matching Seattle's offer, then the lawsuit would have no teeth. They have no damages and have nothing to claim for the courts to make them "whole". What are they going to sue for, hurt feelings?
"but their level of commitment won't be certified until they make the same non-refundable payment of $30 million to the Maloofs that the group from Seattle already has made"
How would they be able to make a non-refundable deposit on something that's already sold, pending league approval? Now, if the league rejects the Seattle offer and the Clowns want to sell to the new Sacramento ownership group and want a non-refundable deposit, that's a different story.
"Should the league's owners reject the Seattle group in favor of the Sacramento group without meeting that term, the source said, the Maloofs are almost certain to file an anti-trust suit against the league"
All team sales and relocations are subject to league approval. They knew that when they signed up. Again, if they want the new Sacramento ownership group to make a deposit AFTER the Seattle sale is rejected, that's a different story.
"Sacramento group also has to deal with several different entities owning parcels of the land upon which the proposed arena would be built. Working through how much the land is worth and a sale price for each parcel is not a quick process"
Looked to me like that's all ironed out. Otherwise they couldn't commit to a term sheet? And not only that, as stated in the city council meeting, the new ownership group is valuating the Natomas land at its estimated POST-MORATORIUM value which is very generous of them.
"nor is the required cash-out by Warriors part-owner Vivek Ranadive to join the Kings' group. I also have to wonder, considering the potential benefit for the Warriors in having all of Northern California to themselves, how motivated they'll be to expedite the process if doing so enhances the chance of the Kings staying"
Warriors probably don't care... having a team 80+ miles away makes no difference to them. Very few (if any) people from this region would care to go to their games if the Kings are gone. Most likely everyone would be so heartbroken that they wouldn't even care to watch another NBA game. As for Ranadive's shares, I would imagine that in the worse case scenario he could leave his shares in the custody of the NBA until they are sold, effectively removing himself from that organization? Or maybe the Maloofs could be interested in them? LOL
As far as the anti-trust lawsuit - if the Sacramento ownership group is matching Seattle's offer, then the lawsuit would have no teeth. They have no damages and have nothing to claim for the courts to make them "whole". What are they going to sue for, hurt feelings?
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That's nonsensical about the Kings group having to "match" the $30mil non-refundable the Seattle group is paying.
Bucher is an idiot.
Let's just think about this: The Seattle group agrees to pay the Maloofs $520mil or whatever. They then amend the agreement to say that the Maloofs get to keep $30mil even if it doesn't go through. The Maloofs in that scenario earn either $520mil (if the sale goes through) or $30mil (if it does nto). In NO case do they earn more than $520mil.
Now, Kings group steps forward and says we'll match the $520mil. Ok, if the league accepts that, then the Maloofs get $520mil from Kings group., AND $30mil from the Seattle group, or $550mil altogether.
Bucher, you moron, explain to me the basis of the Maloof lawsuit. Idiot. If anything the people with the lawsuit potential are the Seattle group not eager to be paying $30mil. In fact you could argue the Kings would only have to pay the Maloofs $490mil, and let the $30mil they already got from Seattle finish the purchase price, to still be able to match the Maloofs' bounty on the sale. I wouldn't try that as then Seattle is REALLY unhappy at footing part of the bill for the team to stay effectively, but still. Bottomline line Bucher is that the $30mil to the Maloofs is NOT an extra payment. Its part of the overall sale price. If the overall price is matched, the Maloofs have less than no reason to complain -- they actually come out $30mil richer.
Bucher is an idiot.
Let's just think about this: The Seattle group agrees to pay the Maloofs $520mil or whatever. They then amend the agreement to say that the Maloofs get to keep $30mil even if it doesn't go through. The Maloofs in that scenario earn either $520mil (if the sale goes through) or $30mil (if it does nto). In NO case do they earn more than $520mil.
Now, Kings group steps forward and says we'll match the $520mil. Ok, if the league accepts that, then the Maloofs get $520mil from Kings group., AND $30mil from the Seattle group, or $550mil altogether.
Bucher, you moron, explain to me the basis of the Maloof lawsuit. Idiot. If anything the people with the lawsuit potential are the Seattle group not eager to be paying $30mil. In fact you could argue the Kings would only have to pay the Maloofs $490mil, and let the $30mil they already got from Seattle finish the purchase price, to still be able to match the Maloofs' bounty on the sale. I wouldn't try that as then Seattle is REALLY unhappy at footing part of the bill for the team to stay effectively, but still. Bottomline line Bucher is that the $30mil to the Maloofs is NOT an extra payment. Its part of the overall sale price. If the overall price is matched, the Maloofs have less than no reason to complain -- they actually come out $30mil richer.
I agree that bucher's point is moronic. My biggest concern is still that I don't believe sac will match the Hansen purchase price. With most of the tangible monetary arguments leaning in seattle's favor, I really think sac needs that equal value argument. If not we are relying on too many emotional arguments that may not sway the financially motivated BOG.
It's hard for me to have that concern. If you're Vivek, Mastrov, Burkle and the Jacobs family, the last thing in the world you do is put your reputations on the line, only to have all of them demolished because they chinced out on a few million dollars. One thing to keep in mind in all of this is that Mastrov was the front man for Vivek. Vivek has been in the wings for weeks, presumably among other things, analyzing his chances of victory. He didn't want to come out into the limelight as a Warriors' owner vying for ownership of the Kings until he knew the odds were in his favor. He is already in the billionares boy's club of the NBA and has numerous friends/contacts within the league. He's not coming out into the light on this thing until he's talked to his comrades and thinks things are looking peachy-keen. Similarly, he's not going to chince out on a few million dollars when victory is within grasp. That would make no sense whatsoever.
I hope so. I still think they are going to come in 30-40M short which we could justify a bunch of ways but would be an easy explanation for yes votes from the BOG.
Also, I don't really buy the whole mastrov was a front man for Vivek. I don't really see the point for the kings since it made them look a little disorganized or for Mastrov since it made him look like he didn't have the funds to front it. It sounds like nice pr spin but not great business.
Also, I don't really buy the whole mastrov was a front man for Vivek. I don't really see the point for the kings since it made them look a little disorganized or for Mastrov since it made him look like he didn't have the funds to front it. It sounds like nice pr spin but not great business.
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Either because they don't have the funds or more likely because they don't think the team is worth that in this market. Just a hunch but I'd like to hear kj or the whales start talking about matching vs the more vague "close" or "backup" offer. Just put it to bed because its obviously the hottest public/media issue and its a distraction. Make the offers equal and you can focus on other stuff
Agreed. I think they will match or come in slightly over. They are playing to win, remember? Why spend all this money and time pursuing a team to come in short on the offer? I think they know where they need to get and they are not going to reveal themselves (so to speak) as whales this late in the game if they aren't going to at least match.
"Don't have the funds"? REALLY? Man, you are reaching. They have the funds. What the final offer is I don't know, but it won't be from "lack of funds".
"Don't have the funds"? REALLY? Man, you are reaching. They have the funds. What the final offer is I don't know, but it won't be from "lack of funds".
That's some serious comedy right there. We got laughs folks. Big time laughs over here.
What KJ is doing is leaving himself some room to OVER deliver. Controlling the momentum. That's been his consistent strategy all along. It gives you a bigger media punch, and also allows you ANOTHER media punch. So to review, that's an increase in both the quality and quantity of media punches. Pay attention!
I'm curious if you actually think 4 of the wealthiest and savviest businessmen in California would come this far and not finish this thing off. Do you actually think that? Or are you just trying to tell KJ that his strategy is inferior to yours?
Cause he has Hansen ****ting his pants right about now.
What KJ is doing is leaving himself some room to OVER deliver. Controlling the momentum. That's been his consistent strategy all along. It gives you a bigger media punch, and also allows you ANOTHER media punch. So to review, that's an increase in both the quality and quantity of media punches. Pay attention!
I'm curious if you actually think 4 of the wealthiest and savviest businessmen in California would come this far and not finish this thing off. Do you actually think that? Or are you just trying to tell KJ that his strategy is inferior to yours?
Cause he has Hansen ****ting his pants right about now.
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That makes absolutely NO sense in any kind of scenario. Our Fab Four is not going to all this trouble only to come in short on the crucial bid. I cannot conceive of any way that makes sense.
EDIT: About Bucher...please remember he was the genius who swore he was absolutely positive Chris Webber had signed with the Pistons and was just stringing the Sacramento fans along for some never-named reason. As Brick has reminded us, Bucher is an idiot. And my cat has better Kings sources than Bucher does.
EDIT 2: It's reported the Fab Four are going to be spending $1 billion in this project. Them falling short by $30-$40 million, as sdballer is apparently fearing, is akin to not wanting to spend an extra 30 cents on a $10 purchase. It's just not gonna happen.
EDIT: About Bucher...please remember he was the genius who swore he was absolutely positive Chris Webber had signed with the Pistons and was just stringing the Sacramento fans along for some never-named reason. As Brick has reminded us, Bucher is an idiot. And my cat has better Kings sources than Bucher does.
EDIT 2: It's reported the Fab Four are going to be spending $1 billion in this project. Them falling short by $30-$40 million, as sdballer is apparently fearing, is akin to not wanting to spend an extra 30 cents on a $10 purchase. It's just not gonna happen.
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To what end? One guy heads a bid that is way too low only to step aside and unveil someone else that had been a part of the deal the whole time but it now in charge. Again, what's the point besides having another "reveal" that actually didn't really make the process look that buttoned up. I like Vivek and am glad the team had more people but its not like Mastrov stepped aside to reveal the worlds richest man.
He did step aside to reveal a much more desireable owner from Stern's perspective. It's like you really haven't been paying attention. Globalization. India. Yes, more money. Vivek's connection with Jacobs family. Did you know about the Jacobs family?
For all we know, it could have been the Jacobs family that insisted they not go public until it looked good, and that Vivek joined them on that reveal. Strategically, it's very beneficial to keep revealing whales. It continues to further the story in Sac's direction. That's a much greater benefit than possibly appearing disorganized.
According to Vivek, this was the plan all along. So it actually wasn't disorganized.
For all we know, it could have been the Jacobs family that insisted they not go public until it looked good, and that Vivek joined them on that reveal. Strategically, it's very beneficial to keep revealing whales. It continues to further the story in Sac's direction. That's a much greater benefit than possibly appearing disorganized.
According to Vivek, this was the plan all along. So it actually wasn't disorganized.
Everybody has covered this well in their notes. The theme of this team/arena purchase/build process is to come in bigger than expected. What started with one whale trying to bid on a team and build an arena has gradually built to 4 whales going to buy a team and an arena AND and an extra $500 million of construction for good measure. There are the smaller deals where they have let the city off the hook for a few million here and a few million there. I can't remember all the smaller details but there is no indication anywhere that they are going to nickel and dime anyone as was the Maloofs MO.
They aren't going to come up short.
They aren't going to come up short.
Exactly.
I said the same thing about a month ago:
http://www.kingsfans.com/forums/sho...ews-rumors-etc&p=958913&viewfull=1#post958913
I said the same thing about a month ago:
http://www.kingsfans.com/forums/sho...ews-rumors-etc&p=958913&viewfull=1#post958913
An interesting thing that KJ said in a short snippet played tonight in KCRA is that the Sacramento ownership group intends to do everything in their power to match the terms of the Seattle offer. The problem is, they don't know what the Seattle offer is - or whether some of the money in the offer is to pay the city loan or to cover relocation costs. In other words, they are trying to match an offer that they don't fully understand.
I would hope the BoG considers this when they vote. They're willing to match so the Clowns don't lose money. Some transparency would really help!!!
I would hope the BoG considers this when they vote. They're willing to match so the Clowns don't lose money. Some transparency would really help!!!
You need to watch this latest interview...
http://sacramento.cbslocal.com/vide...ew-with-kevin-johnson-about-sacramento-kings/
http://sacramento.cbslocal.com/vide...ew-with-kevin-johnson-about-sacramento-kings/
Not to spend too much time on Bucher, but I watched the Warriors feed of the Kings game the other night. He was the sideline reporter and said some bizarre things about the sale, including that the sale to Hansen had already been approved and only the relocation was left to be voted on by the BOG. I think he even said the Sac ownership group would have to buy from Hansen if the relocation was denied. He obviously does not know what's going on with this situation at all.
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