49ers get $200 mil loan from NFL
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PurpleHaze
All-Star
That's about 20% of total needed for the new Niners "billion dollar" stadium. I wonder if NBA will be kicking in at least 20% (or more) in form of a loan for new arena in Sac. I doubt Maloofs are going to be ponying up much if anything for the planned project.
Larry David
Starter
I believe the Maloofs have offered to kick in a box of Palms Place t-shirts.
The NFL does it right.
Fear the Putin
Starter
as well as a "How To" manual in investing.
Well technically this has already happened. The NBA drew several lines of credit for the team's to use how they saw fit. Depending on the source, that number the Maloofs might have tapped into is at least 75 million. How they chose to use that is unclear, but I don't think it went into the Kings as a business. Unless they had to prop themselves up to pay the player salaries.
Funny, Samueli offered another 75 million to help with move expenses to Anaheim. And probably was to loan more that was not so widely revealed to cover actual moving expenses. Which if they defaulted on would have made him about 50-50 ownership of the team along with the NBA. Me thinks the Maloofs planned to default by private agreement with Samueli within a season or two. Samueli was financing the whole move thing and trying to backdoor Stern's role as team ownership turnover facilitator. Then with Stern over the barrel on the default, Samueli would have agreed to assume the 75 million debt from the line of credit.
If my assessment is pretty close, than you have to assume the Maloofs plan B is to sell the team after the arena situation is solidified.
Funny, Samueli offered another 75 million to help with move expenses to Anaheim. And probably was to loan more that was not so widely revealed to cover actual moving expenses. Which if they defaulted on would have made him about 50-50 ownership of the team along with the NBA. Me thinks the Maloofs planned to default by private agreement with Samueli within a season or two. Samueli was financing the whole move thing and trying to backdoor Stern's role as team ownership turnover facilitator. Then with Stern over the barrel on the default, Samueli would have agreed to assume the 75 million debt from the line of credit.
If my assessment is pretty close, than you have to assume the Maloofs plan B is to sell the team after the arena situation is solidified.
Hoovtrain
All-Star
That's pretty much how i took it as well. But the thing is, even if the arena deal falls apart and they keep the team and move, there is no way they are going to get the kind of sweetheart/shady deal that Samueli was offering. That deal was the only thing saving them. Seems to me they are screwed no matter what.
