ASW continued: Day 3 of Arena meetings - DEAL REACHED

ReinadelosReys

ReinadelosReys

Starter
#1
#1
The meetings have just begun:


Ryan Lillis ‏ @Ryan_Lillis

 Joe Maloof asked if everyone working on same goal in #NBAKings #arena talks: 'I hope so.'

@KJ_MayorJohnson on #NBAKings #arena talks: 'Everyone has a good mindset and is ready to problem solve today.'






Rob McAllister ‏ @Rob_McAllister

Joe Maloof before meetings this morning: "Everything has been positive" "Hopefully everything will work out"


Joe Maloof on deal happening today: "I don't know about today," but didn't know if it would go on past today either


Joe Maloof: "We've been through a lot the last few years...so we'd like to see some positive things come out of this"


David Stern currently gathering outside with Clay Bennett and other NBA heads before meetings



Kenny Holmes CBS ‏ @KHOLMESlive

When asked if George Maloof wasn't on the same page as the other brothers, Joe Maloof assured us "No No, he's fine.
 
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Circa_1985_Fan

Circa_1985_Fan

All-Star
#4
#4
"@nickmonacelli: #news10 Joe Maloof says he doesn't expect an arena deal finalized today. @KJ_MayorJohnson is in there with Stern and the Maloofs right now."
 
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BMiller52

All-Star
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I don't get how this can be the third day of talks and still no deal today most likely when they have all day yo negotiate. I kind of wonder if the Maloof bros are just stalling till all the NBA people leave, then they can blow the deal up.
 
Circa_1985_Fan

Circa_1985_Fan

All-Star
#7
#7
BMiller52 said:
I don't get how this can be the third day of talks and still no deal today most likely when they have all day yo negotiate. I kind of wonder if the Maloof bros are just stalling till all the NBA people leave, then they can blow the deal up.
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No, I think its more lowballing by George Maloof, as well as other things such as who gets what revenues from arena...I.e.: city, Maloofs, AEG, etc. And the NBA wont let them blow the deal up because they know Sacramento has done its part and held up their end of the deal. It would be WAY more money to move the team and the NBA knows this.
 
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NoBonus

NoBonus

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#8
#8
Circa_1985_Fan said:
No, I think its more lowballing by George Maloof, as well as other things such as who gets what revenues from arena...I.e.: city, Maloofs, AEG, etc.
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If I were in the Maloofs shoes I would be looking to low-ball, too. Of all the entities involved, they are on the shakiest financial ground and $5 million to them is, suddenly (when I say suddenly, I mean since their businesses have been failing), a big deal to them.
 
ReinadelosReys

ReinadelosReys

Starter
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#11
Rob McAllister ‏ @Rob_McAllister

BREAKING Mayor: We have a frame work for an agreement going forward


Sam Amick ‏ @sam_amick

Kevin Johnson says "framework of an agreement going forward" to keep team in Sacramento. "I want to jump up and down."

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YAAAAAAAAAAAAAAAAAAAAAAAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
ReinadelosReys

ReinadelosReys

Starter
#17
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Ryan Lillis ‏ @Ryan_Lillis

Tearful Gavin Maloof reacts. George Maloof says it's a fair deal, will help team attract better players.

Koula Gianulias ‏ @koula_g

Stern will consider Sac for future all star game
 
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LWP777

Guest
#20
#20
Wow! What a great day! So is this thing going to 100% happen now? Does the city still have to vote on it? Are we totally in the clear?
 
ReinadelosReys

ReinadelosReys

Starter
#21
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Sam Amick ‏ @sam_amick

Joe Maloof tells SI.com the family's contribution the $387 million arena is $73 million, but it doesn't end there.

Starting in 2015, when the arena will open, Maloofs pay a 5 percent surcharge on all tickets that adds more than $60 million more over time.
 
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ReinadelosReys

ReinadelosReys

Starter
#22
#22
LWP777 said:
Wow! What a great day! So is this thing going to 100% happen now? Does the city still have to vote on it? Are we totally in the clear?
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The city and the county still need to vote on thier contributions. The main thing this weekend was getting the Maloof's contribution, but you have to believe KJ has to be confident on the city's contribution.
 
Mass

Mass

Starter
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#23
Wow! I can't believe it! Even if I'm not from the area, I have a strong connection with Sacto, because I've lived there for over a year. I'm so happy and I still can't believe it!

I believe this could be a franchise changing moment. Maybe I'm getting over excited, but I'm really happy for the city of Sacramento!
 
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LWP777

Guest
#24
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ReinadelosReys said:
The city and the county still need to vote on thier contributions. The main thing this weekend was getting the Maloof's contribution, but you have to believe KJ has to be confident on the city's contribution.
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I hope you're right. I just have very little faith in the city. They have made a number of stupid decisions in the past....
 
ReinadelosReys

ReinadelosReys

Starter
#25
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Sam Amick ‏ @sam_amick

Joe Maloof also says contribution did not include any loans from the NBA. Other mechanisms - selling former arena land etc. - down the line.


Ryan Lillis ‏ @Ryan_Lillis

Joe Maloof: "We've always said we wanted to stay in Sacramento and now here's our opportunity." #NBAKings
 
ReinadelosReys

ReinadelosReys

Starter
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Tony Bizjak ‏ @TonyBizjak

I asked Joe Maloof - Is this better than Anaheim deal? He hesitated: "Yes," he said. Then, "We''ll, it's hard to compare the two ....

Joe Maloof: "I'm excited. Sure the fans are excited. We always said we want to stay. It worked out"
 
fansinceday1

fansinceday1

Starter
#28
#28
LWP777 said:
I hope you're right. I just have very little faith in the city. They have made a number of stupid decisions in the past....
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I've tempered my excitement also. I'm a lifelong sacto resident and I know how inept our city govt can be. Forgive me if I feel like this council will find a way to screw this up. I won't get excited till this arena is at least 55% done.
 
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JB_kings

Starter
#29
#29
A big sigh of relief and a very happy day. Enjoy the news today and tomorrow is back on task pushing our city leaders to get the construction started.
 
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