Arena Signature drive funds originated by law firm representing Maloof family
- Thread starter Hoovtrain
- Start date
PurpleHaze
All-Star
The only "obstacle" - and it's most likely going to be resolved fairly soon - is the acquisition of the Macy building.
whozit
Starter
I think it was Brenton who indicated that this was just the first of many such bumps along the way.
I'm guessing you mean "Breton"? There are always bumps along the way in a project like this. I haven't seen anything by Breton, though, so I'm not truly sure what you're referring to...
annihilator_33
Starter
I think it was this tweet from Graswich earlier...
R.E. Graswich @REGraswich 11h
Macy's men's problem is just one bump in road. Get ready for many more.
Expand
Kingsfan23
All-Star
Love it... Just when I was apprehensive that the self-reported assertion from "STOP" that they were halfway to the signatures had significance to it.... Would love to know who the scrubs are at the end of this
whozit
Starter
Yes, that is who I was referring to. Was going by memory and that is a sure way for me to get into trouble. As annihilator_33 corrected, it was actually Graswich. I shouldn't have been lazy and should have retrieved the tweet myself.
Kingsfan23
All-Star
Also, why would the Maloofs be bitter about how it played out? ddn't they get their money? I was under the belief that they collected a 535 valuation in addition to keeping HBN's 30 mil non-refundable deposit.. If this is the case the only reason they could be angry with how things turned out is that the team remained here, and if that's the case I'd have to feel sorry for them because of how vile they are
upinsmoke
All-Star
Lmao
Doubt that Loeb and Loeb reveal the source. They'll invoke the attorney-client privilege. And of course pay fines and settle this out of court. With their client paying all the fines of course. But this was a stupid move on their part.
Just for kicks lets say this wasn't the Maloofs who had them wire the money... what sort of judgement does that show taking a risk that if it ever became public? the Maloofs would be suspect #1. Just decline to do the transfer for them because they would lose a high paying client in the Maloofs over such dealings. You can't claim that Loeb is ignorant of this situation. They have spent years working the Maloofs deals from Anaheim to Seattle. And likely many years before that.
And I know Tab Berg didn't get paid what he was supposed to do. But man did he cut and run today in a flash. I think because he knew that this was going to unravel and it was going to be bad for his reputation. Otherwise he would stick it out because he knew the source of the funds wasn't that big of a deal. There is stink here and it's a familiar stink.
So a family who is know to hold grudges and openly detest KJ and would like to see his reputation take a hit? Or do we have another group with a strong desire to see the arena fail? And one who was savvy enough to hire a law firm that was widely associated with the Maloofs.
Which one requires taking the fewest assumptions? I can guess, but Occam's Razor I have found is pretty reliable.
Parting shot, the Maloof angle is the eye catcher of this drama. But at this point it won't make much difference. A lot of damage has piled up on the STOP campaign. Probably too much for them to recover. So the Maloof question is a curiosity more than a game changer now.
Just for kicks lets say this wasn't the Maloofs who had them wire the money... what sort of judgement does that show taking a risk that if it ever became public? the Maloofs would be suspect #1. Just decline to do the transfer for them because they would lose a high paying client in the Maloofs over such dealings. You can't claim that Loeb is ignorant of this situation. They have spent years working the Maloofs deals from Anaheim to Seattle. And likely many years before that.
And I know Tab Berg didn't get paid what he was supposed to do. But man did he cut and run today in a flash. I think because he knew that this was going to unravel and it was going to be bad for his reputation. Otherwise he would stick it out because he knew the source of the funds wasn't that big of a deal. There is stink here and it's a familiar stink.
So a family who is know to hold grudges and openly detest KJ and would like to see his reputation take a hit? Or do we have another group with a strong desire to see the arena fail? And one who was savvy enough to hire a law firm that was widely associated with the Maloofs.
Which one requires taking the fewest assumptions? I can guess, but Occam's Razor I have found is pretty reliable.
Parting shot, the Maloof angle is the eye catcher of this drama. But at this point it won't make much difference. A lot of damage has piled up on the STOP campaign. Probably too much for them to recover. So the Maloof question is a curiosity more than a game changer now.
Darth Divac
Bench
Well paint me blue and call me babe.
Because they're small, petty and vindictive and have a hatred for Kevin Johnson that knows no bounds.
N0tmyfault
Bench
Not that Maloofs ever used sound logic in making their business decisions, but......
Maybe it was an effort to destroy the new arena for they could point and say, "See...it wasn't our fault an arena deal couldn't get done. The people of Sac didn't want it."
Exactly. This is a big deal to the Maloofs. I see some of the media and very few fans discounting their involvement by saying "What's in it for them?". The brothers have always reacted with emotion in business dealings. To them it's a little bit of money to buy back a chance to say their were right about Sacramento.
I think it stops at Loeb & Loeb. They will never reveal whose money it was as that would damage their reputation worse than anything that's happened so far. The worst they can suffer is getting fined. And honestly it doesn't matter. The damage is done to STOP.
Worked out pretty well I would say.
Kingsfan23
All-Star
That sounds like it could be likely. But it would be very negligent on the Maloofs part.. If you have 9 figures in the bank shouldn't you have some people around you to tell you a move like this could be traceable and backfire before you do it?
Trying to figure out what goes on in the minds of the Maloofs is an exercise in madness.
This exactly something the maloof's would do. they're spiteful, vengeful people. They killed every arena deal we came up with. They went behind the backs of everybody in Sacramento, trying to sell the team to any other owner who will move the Kings. Virginia Beach, Anaheim, Seattle, etc. Never once did they give any Sacramento group a chance to compete until Mayor Johnson forced their hand. They hold a grudge and this is exactly what *******s like these would do.
ockingsfan
Starter
You would have to think that Vivek and Co. would have put some type of language in the purchase contract that the Maloofs could not interfere with city negotiations or that would be a breach of contract of some sort.
The Kings lawyers should of had something in writing stating that the Maloofs would no longer interfere with city negotiations, I would hope at least.
It there is such language in the purchase agreement, and the Maloofs did give the money, then hopefully vivek and co can sue the Maloofs for some big money.
kennadog
Dog On It!
While not saying it isn't the Maloofs, we are jumping the gun here. Its an Orange County law firm that probably has a lot of rich clients. Still, maybe we'll know more when the contribution is reported as required.
Not getting the Macy's Men's Store site cannot block arena development. They are all the room they need to build the arena. I think they'd like to use the Macy's MS site, because it would put the arena right next to 5th street. But that's a preference, not a do or die problem for building the arena.
Whether or not they want to use that particular piece of land for the arena or not, they have said they want it for their overall redevelopment of the Downtown Plaza site.
Not getting the Macy's Men's Store site cannot block arena development. They are all the room they need to build the arena. I think they'd like to use the Macy's MS site, because it would put the arena right next to 5th street. But that's a preference, not a do or die problem for building the arena.
Whether or not they want to use that particular piece of land for the arena or not, they have said they want it for their overall redevelopment of the Downtown Plaza site.
There's an old saying in the law that there are no coincidences. How many law firms are there in Southern California? And what are the odds a totally-unrelated party would be using the same legal team as the one that helped the Maloofs torpedo the previous arena deal to try and torpedo the current arena deal?
My thought is still that this is exactly the kind of thing the Maloofs would try to do. Get their money, make their escape and then try to destroy the future of the person they blame for them having to settle for selling to Vivek and Co. I'll never be convinced they didn't have more stuff planned for the Hansen/Ballmer deal, more stuff that would have kept them involved in the spotlight in some way...
Unless somebody talks to save their skin, Loeb & Loeb will never tell. They'll take the hit for the client and pay a fine. Billable to their client of course. They made their decision knowing that there was a chance it could be traced back to them. So I hope they take a lot of heat over this. Wiring money is not a big deal, but hiding the source of the funds and not filing the proper paperwork makes them look like they have dirty hands. I hope this was worth whatever little money they got for their involvement.
Whatever hit the Maloofs are taking right now, they have earned over the years by sandbagging this city. So they've earned the top spot as suspect #1. They have earned the suspicion, but not much else until somebody involved names the source. Although at this point, it's only served to put STOP at the longest odds of success they have yet faced. So wherever the money came from, did more harm than good.
upinsmoke
All-Star
Lol....quite the call. Didn't think Hansen could be so stupid....I stand corrected.
ninjabiscuit
Bench
Amazing. Makes you wonder if he's behind the Macy's thing, and what else he's got out there. He's like our very own white collar super villain.
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