2-3 potetnial buyers for Kings

[macadocious]

According to Carmichael Dave's twitter, 2-3 people/groups willing to over pay for Kings. Assumed 500MM to keep team here, 750MM to buy and move.

Did not give specifics.

Also said Maloofs are quiet and speculated that they are up to something.

 

[jsmk23]

According to Carmichael Dave's twitter, 2-3 people/groups willing to over pay for Kings. Assumed 500MM to keep team here, 750MM to buy and move.

Did not give specifics.

Also said Maloofs are quiet and speculated that they are up to something.

Did it say anything about keeping or moving them?

 

[Gilles]

Did Christmas finally come?

 

[Mike0476]

This is old news. I suggest everyone follow Aaron Bruski (https://twitter.com/aaronbruski) as he has been on top of this arena saga for a few years now.

Crown Downtown is pretty good about being the first to report on the latest on this arena news by sharing links.

You can like us on Facebook (https://www.facebook.com/CrownDowntown), follow us on Twitter (https://twitter.com/CrownDowntown) and subscribe to us on You Tube (http://www.youtube.com/CrownDowntown).

Published September 11, 2012

http://probasketballtalk.nbcsports....-drastically-overpay-for-the-sacramento-kings

Sources on the city’s side have indicated that they have more than one buyer lined up...

If the Maloofs still don’t want to sell, they’ll continue to play the dating game with other cities and the league will continue to deal with a public relations nuisance. The family will not get a different arena deal in Sacramento, and any talk of renovating the unrenovatable Arco Arena with public funds has been met with collective laughter both inside and outside of the city...

In Sacramento, the framework for a deal exists not just for the Maloofs but for any owner that wants to pick up the ball and run with it...

The deal that was struck between the city, arena giant AEG, and the NBA is still considered a good deal by each of those parties, and the only thing that would theoretically change are the owner contributions. In a concept the Maloofs cannot come to grips with, if a new owner wants to pay more for arena construction they can enjoy more of the profits....Unlike anywhere else in the country, including Seattle, an agreement can be reached in Sacramento under the current terms and design could start within about a month according to sources.

 

[JB_kings]

According to Carmichael Dave's twitter, 2-3 people/groups willing to over pay for Kings. Assumed 500MM to keep team here, 750MM to buy and move.

Did not give specifics.

Also said Maloofs are quiet and speculated that they are up to something.

The $500 million is Dave's guess at what number it would take right now to buy the team. It's not a real number because if someone like Hansen was willing to pay that, then the deal would be done. I think the buyers are waiting out Virginia Beach to see if that deal falls short. Then George has decide whether to sit the Kings yet another year in Sacramento and wait out the next city offer or start listening to more realistic offers for the team.

The fact is that every time a team sells, someone overpays. Just how much is the question. Right now there is only one buyer, Hansen, who has some resources to overpay and move a team to Seattle. There are others like Ellison. But he is locked into San Jose and that is something the NBA has not been endorsed. And with the Warriors trying to get their new arena in SF, it's fairly certain there will be no messing around with the bay area market until that deal completed.

As far as Hansen is concerned. He isn't going deep pockets to overpay until Stern and the NBA BoG emphatically tell him that expansion is off the table for Seattle. As Dave mentioned, there is a huge premium to pay to move the Kings. Perhaps not of 250 million. But we know that the Kings come with a lot of debt to Sacramento and the NBA line of credit. Plus new debt for relocation fees.

 

[Jose]

Also said Maloofs are quiet and speculated that they are up to something.

Of course they are... The DMC drama and a couple of recent wins have turned everyone's attention away from them. Best Christmas present they could have ever wished for!!! They're going to lay low until it's time to file for relocation...

 

[upinsmoke]

Smoke?

 

[Cwebb#4]

Some time time or another, the Maloofs are going to have to realize that they're done for. The have 0% public support, little money, an outdated arena, and a crappy team (no offense to the Kings). There are a bunch of billionaires (like Ron Burkle)willing to seriously overpay for the Kings. Some time or another, they'll sell. All we can do is hope that they don't do something stupid (like move the Kings) first.

 

[ParniValjak]

Some time time or another, the Maloofs are going to have to realize that they're done for. The have 0% public support, little money, an outdated arena, and a crappy team (no offense to the Kings). There are a bunch of billionaires (like Ron Burkle)willing to seriously overpay for the Kings. Some time or another, they'll sell. All we can do is hope that they don't do something stupid (like move the Kings) first.

Very much doubt Burkle would want to overpay. He is moe of a bargain hunter. I do agree that Maloofs will end up selling but I think it will be the case of NBA taking over first.

 

[Circa_1985_Fan]

Very much doubt Burkle would want to overpay. He is moe of a bargain hunter. I do agree that Maloofs will end up selling but I think it will be the case of NBA taking over first.

Very much my thinking too...Georgie loves being in the spotlight, even negatively...so my thinking is he will take the NBA to court after the BOG's vote down his relocation request, then he's forced to sell to a buyer that is willing to keep the team here at the NBA's request...who that would be is the real question. But after all that, I think we'll be tipping off the 2016 season in our shiny new downtown arena in the railyards. The next year or so will be interesting, drama filled, and draining for fans...but all worth it in the end.

 

[ParniValjak]

Very much my thinking too...Georgie loves being in the spotlight, even negatively...so my thinking is he will take the NBA to court after the BOG's vote down his relocation request, then he's forced to sell to a buyer that is willing to keep the team here at the NBA's request...who that would be is the real question. But after all that, I think we'll be tipping off the 2016 season in our shiny new downtown arena in the railyards. The next year or so will be interesting, drama filled, and draining for fans...but all worth it in the end.

I am not sure what leverage does NBA have because of the $100 odd million loan that the Maloofs have taken out from the NBA. Can the NBA restructure that loan or waive part or all of it a trade off for Maloofs to sell to an ownership group that will keep the team in Sacramento.

Interesting times ahead but even I don't think Maloofs are stupid enough to try and take the NBA to court. I don't think they can afford it and I also think they know that they are on the outer with the NBA and the rest of the owners so I doubt they would completely want to burn their bridges completely.

I still reckon that if they do sell, they will do so thinking that at some point, they would want back in when they rebuild their empire. These guys think they can get back to being billionaires and would want to keep some sort of good will (if there is any left) to try and get back into the NBA down the track.

 

[HereWeBoogie]

i think they will end up selling too, especially now that its coming out in reports that they are throwing out numbers. the question will be if its going to be to a buyer who wants to move the team or keep them in Sac

 

[ParniValjak]

i think they will end up selling too, especially now that its coming out in reports that they are throwing out numbers. the question will be if its going to be to a buyer who wants to move the team or keep them in Sac

Don't forget that the NBA has to sign off on any sale for it to be official and I am confident that David Stern and Co. are firmly in Sacramento's corner.

 

[Glenn]

I suspect that the number thrown around, $500 mil., is to pay for the team and all debts. They aren't going to sell unless over paid. I have forgotten what they owe and to whom but they could be starting at $500 mil and come down and walk away happy. Depends on if a buyer wants to pay the Maloof's debts.

I don't think the Kings are as awful as people think. They have some solid (we hope) young people (Cuz, Tyreke, JJ, maybe TRob, JT, IT, MT, and Jimmer who would probably do at least reasonably well with a different (better) coach. The fans still show up although in very low numbers. I think it is reasonable to expect that with a new arena and new owner(s), the place would start sell a LOT more tickets.

Until writing this, I didn't realize we have an 8 man rotation under 25 years of age except for JT. That's pretty young.




Edit: I had to come back and clarify. I don't know if those 8 guys will be solid NBA players but that's a lot of youth and they all don't have to turn out great. I personally think this group is a nice starting place with none being too old. Most if not all can be locked in for the immediate future so we aren't totally dependent on signing free agents, something that we simply can't depend on because of the organization's reputation.

 

[kennadog]

Don't forget that the NBA has to sign off on any sale for it to be official and I am confident that David Stern and Co. are firmly in Sacramento's corner.

I think so, too. I think the league will show their favor to owners willing to keep the team in Sacramento and participate in the deal for a new arena here. Its just far better for the league's image. For a city with a perfectly good financing plan for a new arena and a city that has been among the best NBA fans, it would be a major PR blow for the league to have a team leave Sacramento. This is a case where the city has done everything asked of it by the league.

 

[Brac-o-matic]

This is a case where the city has done everything asked of it by the league.

Exactly. Because this is true, and because we are known for having such a loyal and dedicated fan base, if the NBA lets the painfully inept owners yank the team away from one of the league's better success stories, they will be facing a PR nightmare that will make Seattle look like a happy dream. They have to know this.

 

[VF21]

Interesting, isn't it, that a tweet by Carmichael Dave with a GUESSTIMATE of $500M, has now become the basis for part of an article by Sam Amick published in USAToday. The article is cited elsewhere, but claims unnamed sources. Amazing how a morsel of rumor can become a big bite of "fact".

 

[ParniValjak]

Interesting, isn't it, that a tweet by Carmichael Dave with a GUESSTIMATE of $500M, has now become the basis for part of an article by Sam Amick published in USAToday. The article is cited elsewhere, but claims unnamed sources. Amazing how a morsel of rumor can become a big bite of "fact".

I think Sam Amick has gained reputation as getting his facts straight before he goes public with the story. If it was anyone else that claimed that, I would have had some reservations about it but Amick's history in recent times has proven to be pretty accurate so I am inclined to think that there is more truth behind this than just Carmichael Dave going ape on twitter.

 

[VF21]

I think Sam Amick has gained reputation as getting his facts straight before he goes public with the story. If it was anyone else that claimed that, I would have had some reservations about it but Amick's history in recent times has proven to be pretty accurate so I am inclined to think that there is more truth behind this than just Carmichael Dave going ape on twitter.

Keep it mind that it wasn't the story lead. If Amick knew for certain that a price had been named, he would have devoted a whole story to it and not buried it halfway through a story about Cousins and his difficulties.

Could it be true? Certainly, but I don't want people to get their hopes up. I still think that if a price was being floated around in all the right circles, someone higher up the national food chain of sports writers would already have it. I think it's a combination of wishful thinking, assessment of probable Maloof activity and the social media rumor mill. I'd love to be wrong but I'm not going to get my hopes up yet.

 

[Glenn]

I think Sam Amick has gained reputation as getting his facts straight before he goes public with the story. If it was anyone else that claimed that, I would have had some reservations about it but Amick's history in recent times has proven to be pretty accurate so I am inclined to think that there is more truth behind this than just Carmichael Dave going ape on twitter.

Couple this info with the absolute fact that the sale of the Kings would be a better Christmas gift for me than my two front teeth and the story has legs. Yes, we should be cautious but it's hard not to take the ball and run.

 

[HereWeBoogie]

Interesting, isn't it, that a tweet by Carmichael Dave with a GUESSTIMATE of $500M, has now become the basis for part of an article by Sam Amick published in USAToday. The article is cited elsewhere, but claims unnamed sources. Amazing how a morsel of rumor can become a big bite of "fact".

i get the feeling Dave probably heard the number from Amick before it was reported, and just acted like he was guessing, therefor it was factual information

 

[carmichaeldave]

i get the feeling Dave probably heard the number from Amick before it was reported, and just acted like he was guessing

Hey all!

Just wanted to un-lurk for a moment regarding my dear friend Sam.

I know I can seem a little more breathless than most re:Kings, but I do not pass bad info. Think of Sam as the New York Times or Wall St Journal, and me more of a National Enquirer. I am not bound by the journalistic rules Sam is, therefore I can be a bit more opinionated and emotional.

In regards to the 500 mil, although Sam and I talk frequently, I would NEVER scoop him or put out publicly info received privately. That's a rule I DO follow. Sam works hard for his sources, and spends a great deal of time cultivating those relationships. It's one big reason why he's quite simply the best reporter on all things Kings in the world. All this while working for a national paper.

That also doesn't mean Sam and I don't run in the same circles, and receive some of the same info. I spoke months ago about Hansen offering 425 (and being rejected), and have spoken of the 500 million number before.

Keep in mind 500 mil is also a funny number. For example, to leave the city, a potential buyer could be looking at:

500 million purchase price

70 million to Sacramento

50 million relo fee

100 million in NBA Maloof debt payoff

5-10 million in actual physical move costs

Obviously there are some liberties here. The 100 million from the NBA had never been confirmed, though that number has been spoken numerously from Kings staff off record. And there's also no guarantee the NBA collects some or all upon purchase.

The city loan will be paid. The 50 mil relo fee is a guesstimate, but the fee was 30 for the Thunder years ago.

Potentially, to buy AND MOVE this team, an owner may have to pay 3 quarters of a billion dollars, and a quarter billion above what a local buyer could pay depending on the NBA's mood.

Add into that any owner investment into an arena in the new city, and you're sniffing a billion dollars for the Sacramento Kings.

The math doesn't add up.

No idea why I started rambling there. In conclusion:

Sam rules

I float my own info

Maloofs are being silly.

Hope you are all well, I still read all the time.

 

[sauce-26]

Hey all!

Just wanted to un-lurk for a moment regarding my dear friend Sam.

I know I can seem a little more breathless than most re:Kings, but I do not pass bad info. Think of Sam as the New York Times or Wall St Journal, and me more of a National Enquirer. I am not bound by the journalistic rules Sam is, therefore I can be a bit more opinionated and emotional.

In regards to the 500 mil, although Sam and I talk frequently, I would NEVER scoop him or put out publicly info received privately. That's a rule I DO follow. Sam works hard for his sources, and spends a great deal of time cultivating those relationships. It's one big reason why he's quite simply the best reporter on all things Kings in the world. All this while working for a national paper.

That also doesn't mean Sam and I don't run in the same circles, and receive some of the same info. I spoke months ago about Hansen offering 425 (and being rejected), and have spoken of the 500 million number before.

Keep in mind 500 mil is also a funny number. For example, to leave the city, a potential buyer could be looking at:

500 million purchase price

70 million to Sacramento

50 million relo fee

100 million in NBA Maloof debt payoff

5-10 million in actual physical move costs

Obviously there are some liberties here. The 100 million from the NBA had never been confirmed, though that number has been spoken numerously from Kings staff off record. And there's also no guarantee the NBA collects some or all upon purchase.

The city loan will be paid. The 50 mil relo fee is a guesstimate, but the fee was 30 for the Thunder years ago.

Potentially, to buy AND MOVE this team, an owner may have to pay 3 quarters of a billion dollars, and a quarter billion above what a local buyer could pay depending on the NBA's mood.

Add into that any owner investment into an arena in the new city, and you're sniffing a billion dollars for the Sacramento Kings.

The math doesn't add up.

No idea why I started rambling there. In conclusion:

Sam rules

I float my own info

Maloofs are being silly.

Hope you are all well, I still read all the time.

Thank you for the insight. Is there any word on Burkle's status? Is he still interested?

 

[upinsmoke]

Dave I miss your show I used to listen to it everyday from beginning to end and always payed extra attention to arena update thursdays lol. Got a podcast or something going these days? FTM

 

[carmichaeldave]

Dave I miss your show I used to listen to it everyday from beginning to end and always payed extra attention to arena update thursdays lol. Got a podcast or something going these days? FTM

Thecdnetworks.com

 

[Proof21]

Thecdnetworks.com

Do you have $500M to buy the team? Do it for us!

 

[JB_kings]

Can the Maloofs afford to continue to play the crack whore searching for a fix endlessly? After VB falls by the wayside, they probably don't have another city lined up in time for a March relo filing. Will they try again with another city? What sort of city would want to do business with these clowns?

The $500 million number sounds like they might be ready to sell and that is their stretch goal number. Given that they turned down 425 million... well it's going to take 450-475 to make them go away.

The big question I think is whether the league is ready to work with Hansen on an expansion team starting in say 2015. As Dave points out, it's very costly to buy and move the team. I think Hansen takes the expansion route if he's offered that. If that takes Hansen out of the potential bidding, I think the playing field is a bit more level with buyers willing to keep the team in Sac.

 

[HereWeBoogie]

thanks for the info Dave. we could definitely use your insider knowledge on this forum more often!

 

[KevinSalvadori]

Dave, you rule. Miss you bud. And D'Millers BBQ is class. That is all.