Bid too low and other latest news, rumors, etc.

[Livinthedream]

really bad news, i think stern may be trying to turn kjs PR the other way.why else would say in a press conference that the sacramento bid was not competitive. he could have said that behind closed doors, i dunno i pray im wrong and mastrov comes back stronger but i dunno anymore, after being so confident.

Put it out in public so Mastrov/Burkle have to up the bid, or risk embarrassment. That's how I see it. He also gave Mastrov an excuse by essentially saying the Maloofs set it up for it to be difficult for Sac to get a deal done. If Stern wanted the team in Seattle, this would have been the perfect opportunity to end the whole process. Instead, Stern is giving Sac pointers, extra time and opportunity to increase their bid.

 

[Kingsfan23]

Looking forward to seeing if Kehriotis is going to have the wherewithall to make a competitive bid here

 

[hoops4kings]

Carmichael Dave seems confident that this is all part of the process. Read his twitter.

 

[Gary]

It's like calling a bet which you have no chance at winning (which means you basically threw money out there knowing you would lose anyway) rather than trying to bluff and have a chance.

Mastrov better do much better than that or we have bid on the wrong horse. Nothing good tonight unless you call Stern letting Mastrov know he has to bid higher good news?

Ugh, there goes my Friday night.

 

[John Galt]

Stern and Mastrov at the Warriors game tonight. Looks like two guys who are gonna work something out!!!

 

[Gary]

Carmichael Dave seems confident that this is all part of the process. Read his twitter.

ehhh.. I can see him doing that if there weren't any other bidders but I cannot see that as being any good when he knows the number he has to match/beat.


It's like walking into a car dealership and seeing another person bid on the car you want and then offering less than him. Do you think they are going to take you seriously?

EDIT: He might have flubbed the numbers in the terms of loan/relocation cost or something? But if he did you would have to be worried that he doesn't have the right people doing this deal for him.

 

[Livinthedream]

Looking forward to seeing if Kehriotis is going to have the wherewithall to make a competitive bid here

The whole Kehriotis thing makes me nervous. Need him to bow out. This deal doesn't get done without an arena. Saying you have money for an arena like Kehriotis is trying to say and having a term sheet signed, like the city of Sac will have are worlds apart. Need to have a solid arena plan ready to go. Not a promise.

 

[Kingsfan23]

ehhh.. I can see him doing that if there weren't any other bidders but I cannot see that as being any good when he knows the number he has to match/beat.


It's like walking into a car dealership and seeing another person bid on the car you want and then offering less than him. Do you think they are going to take you seriously?

EDIT: He might have flubbed the numbers in the terms of loan/relocation cost or something? But if he did you would have to be worried that he doesn't have the right people doing this deal for him.

Carmichael Dave seems a lot like homer Bruski, in that they would find something positive in pretty much anything that happens

 

[Fear the Putin]

going from what stern said, Mastrov/Burkle were shooting in the dark because of the Maloofs making sure to put soot in the train tracks.

"In SAC we have a somewhat labored process that has been setup by Maloofs as to how we'd get into an agreement w/ a SAC purchaser."

It's pretty telling that Stern came out publicly to let everyone know that the bid had to be upped and was sure it was going to be upped.

It looks like KJ and Mastrov/Burkle were either going off the publicly known price that was released and were subtracting loans/relo fees/etc from that price, or they knew the low offer would be rejected in an effort to not come away looking like they knew exactly what they had to bid, to beat out Hansen/Ballmer.

Interesting to know HOW exactly the clown magoofs threw wrenches in the plans, as Stern was pointing at.

 

[hrdboild]

I seriously don't think this is anything to be alarmed about. Seattle fans are going to take this as one more opportunity to gloat, but we don't know how long the Maloofs were negotiating with Hansen and Ballmer before they came to an agreement. The important thing for us is that communication with the league is ongoing. Stern has told them they need to up the offer to get the league's consideration and if they were ever serious about owning the team, they're going to continue adjusting the figures until they get an indication that the offer is sufficient. Guys like Burkle and Mastrov are not going to back out of a likely billion dollar development plan (once you include the new arena and whatever Downtown Plaza plans are associated with that) over 70 or 80 million dollars. Again it really is going to come down to the vote in April and everything else being worked on behind the scenes right now -- the arena deals in both cities, corporate sponsorship agreements, market analysis, etc.

The quote at the end of the ESPN article is the best indication I've seen yet that there will be no extra consideration given to Seattle in this instance because they were granted exclusive right of negotiation and subsequently signed an agreement with the current ownership.

"If an ownership group has decided to exit our league," Stern said, "it doesn't retain the ultimate right to tell us where it's going to be located."

That pretty much says it all. The league owners will decide based on each proposal what is in the best interest of their league. We know we have a strong offer on our end. There's no way to know of course, but I'm optimistic we'll get the decision we all want at the end of the day.

 

[HndsmCelt]

Again I think way too many people are too focused on the money end of this. If the BOG is willing to only consider money then what is to stop an Alaskan gold miner from offering a billion dollars for the Lakers or the Celtics and moving them to Anchorage? I suspect Masotv knew that he would get more than one bite at the apple and lets face it smart businessmen typically don't over pay. Relax, the waters are tested and the wind checked.

 

[John Galt]

Again I think way too many people are too focused on the money end of this. If the BOG is willing to only consider money then what is to stop an Alaskan gold miner from offering a billion dollars for the Lakers or the Celtics and moving them to Anchorage? I suspect Masotv knew that he would get more than one bite at the apple and lets face it smart businessmen typically don't over pay. Relax, the waters are tested and the wind checked.

I've never felt this confident that Sac is in the driver's seat. Stern is walking Mastrov up the aisle. Seriously if NBA was not engineering a way to keep the Kings in Sac they would have let the first light bid fail, and there would be no blood on NBA hands - they would just shrug and say "the counter was not competitive"... simple as that. But no... Stern said "raise the offer" and he also said in no uncertain terms that it is NOT up to the Maloofs. I feel great - we are going to keep the Kings... holy crap!!

 

[Warhawk]

I've never felt this confident that Sac is in the driver's seat. Stern is walking Mastrov up the aisle. Seriously if NBA was not engineering a way to keep the Kings in Sac they would have let the first light bid fail, and there would be no blood on NBA hands - they would just shrug and say "the counter was not competitive"... simple as that. But no... Stern said "raise the offer" and he also said in no uncertain terms that it is NOT up to the Maloofs. I feel great - we are going to keep the Kings... holy crap!!

Agreed. While disappointing that the initial offer isn't sufficient (for whatever reason it wasn't), We clearly have our way forward. We just have to get there.

 

[Gary]

Again I think way too many people are too focused on the money end of this. If the BOG is willing to only consider money then what is to stop an Alaskan gold miner from offering a billion dollars for the Lakers or the Celtics and moving them to Anchorage? I suspect Masotv knew that he would get more than one bite at the apple and lets face it smart businessmen typically don't over pay. Relax, the waters are tested and the wind checked.

It has me worried because Stern flat out at the All-Star game stated that Money will NOT be the deciding factor but then he came out today and said that the bid wasn't high enough? Makes me worried that the bid was probably "pathetic" in the terms of purchasing a team with a 500mil bid already on it.

 

[Hoovtrain]

I've never felt this confident that Sac is in the driver's seat. Stern is walking Mastrov up the aisle. Seriously if NBA was not engineering a way to keep the Kings in Sac they would have let the first light bid fail, and there would be no blood on NBA hands - they would just shrug and say "the counter was not competitive"... simple as that. But no... Stern said "raise the offer" and he also said in no uncertain terms that it is NOT up to the Maloofs. I feel great - we are going to keep the Kings... holy crap!!

I like your style John Galt

 

[kingwin]

after finally seeing the video, im back on the ground and the sky is not falling, as long as we have a good bid, we stay.. i thought it was pretty clear, the notion that just because seattle has a binding agreement and owners dont like to tell other owners what to do is looking not true in this this situation.bt will we have a good bid??? in mastrov we trust??

 

[Tetsujin]

It has me worried because Stern flat out at the All-Star game stated that Money will NOT be the deciding factor but then he came out today and said that the bid wasn't high enough? Makes me worried that the bid was probably "pathetic" in the terms of purchasing a team with a 500mil bid already on it.

Now that's the Gary we all know and love.

 

[Kingsfan23]

I've never felt this confident that Sac is in the driver's seat. Stern is walking Mastrov up the aisle. Seriously if NBA was not engineering a way to keep the Kings in Sac they would have let the first light bid fail, and there would be no blood on NBA hands - they would just shrug and say "the counter was not competitive"... simple as that. But no... Stern said "raise the offer" and he also said in no uncertain terms that it is NOT up to the Maloofs. I feel great - we are going to keep the Kings... holy crap!!

If there are variables to Seattles bid that the Sacramento investors were not aware of which influenced their low bid, wouldn't it look kind of bad to let the Sac investors just be ambushed with it in April at the BOG meeting which caused the team left? I'm going to miss this arena situation when it is resolved, it is fun to pick it apart

 

[ParniValjak]

It has me worried because Stern flat out at the All-Star game stated that Money will NOT be the deciding factor but then he came out today and said that the bid wasn't high enough? Makes me worried that the bid was probably "pathetic" in the terms of purchasing a team with a 500mil bid already on it.

Money won't be a deciding factor if the offers are close which they obviously are not. There is a significant difference between the two offers as it stands.

Stern's comments that Maloofs have made it difficult for Sacramento to make a bid suggests to me that there is a confidentiality clause somewhere that does not allow Stern or anyone else to disclose the details of the offer so as much as Sterns wants us to succeed, and its pretty obvious he does, he is limited in how much he can help. He can just drop hints which he is doing and doing it at a press conference.

I have always been really nervous when KJ and a lot of people assumed that $525 million includes debt and relocation fee. I can see how it can include debt (though its far fetched) but for the life of me I cannot see how it can include reelocation fee when that is not even set. I have always suspected that the Hansen offer was not as structured as KJ and other believed. I think it doesn't include some, if not all of the things we thought it did and that is now the sticking point.

Stern's comments lead me to believe that we are a fair way off as he labeled it as non-competitive so the big question are Mastrov and Burkle willing to go that high to buy the Kings? If the answer is no, we are screwed! If they are willing to go much higher then it's happy times since it's obvious to anyone paying attention that Stern wants us to win and is guiding us as much as he is allowed to by certain restrictions.

It's definitely a good thing that we are that far off with our bid but the good bits that came out of Stern's press confence today is that he is making us aware that we need to up the offer and by extension hinting that he wants us to win AND his comments that as some of us have suggested, Maloofs are irrelevant in deciding who ends up with the team. Once they are out, they have no say and they are obviously out!

Maloofs are obviously vidictive here and would prefer to sell to Seattle to screw over KJ and Sacramento and it is precisely the reason why I suspect there is a confidentiality clause with the Seattle offer so that Sacramento is taking a stab in the drark. They know that Stern is on Sacramento's side so they did their best to limit his influence here. Hopefully Mastrrov and Burkle are willing to significantly up the offer so that it is competitive with Seattle's.

 

[Tetsujin]

Mastrov interview

Oh noesssss. Mastrov has given up. We're doomed. Doomed.


In more relevant news, his daughter was wearing a Warriors jersey. Booooooooooooooooooooooooooooooooooo

 

[VF21]

I've never felt this confident that Sac is in the driver's seat. Stern is walking Mastrov up the aisle. Seriously if NBA was not engineering a way to keep the Kings in Sac they would have let the first light bid fail, and there would be no blood on NBA hands - they would just shrug and say "the counter was not competitive"... simple as that. But no... Stern said "raise the offer" and he also said in no uncertain terms that it is NOT up to the Maloofs. I feel great - we are going to keep the Kings... holy crap!!

Well said...and not just because I agree with you.

 

[Gilles]

It has me worried because Stern flat out at the All-Star game stated that Money will NOT be the deciding factor but then he came out today and said that the bid wasn't high enough? Makes me worried that the bid was probably "pathetic" in the terms of purchasing a team with a 500mil bid already on it.

Actually he said, there wouldn't be a bidding war as in "match it and you're OK, Seattle won't have a chance to up their offer".

 

[JB_kings]

Actually he said, there wouldn't be a bidding war as in "match it and you're OK, Seattle won't have a chance to up their offer".

Exactly.

There will be no bidding war because the Maloofs signed the Hansen deal already. In order to increase it, both parties have to agree to throw out the old deal and sign another one.

That said, time is getting short and one thing is clear. No hometown discount. They have to up their money offer.

 

[Kingsfan23]

Actually he said, there wouldn't be a bidding war as in "match it and you're OK, Seattle won't have a chance to up their offer".

I viewed it as Gary.. no bidding war meaning even if we don't match that won't equate to Seattle bid being approved, which just means that our bid wasn't in the ballpark to me

 

[Mike0476]

Our objective was to get on the Phoenix Suns broadcast. Mission accomplished.

KJ saw us at the game near the Suns bench and gave us a salute with a smile. He said something but I could not hear what he said.

 

[ParniValjak]

Mastrov interview

Oh noesssss. Mastrov has given up. We're doomed. Doomed.


In more relevant news, his daughter was wearing a Warriors jersey. Booooooooooooooooooooooooooooooooooo

He has got the smirk going which is a good thing. I like that he is playing a straight bat saying he hasn't heard Stern's comments (and I am sure Stern would have told him directly before going public with it).

As for his daughter wearing Warriors jersey, she will proudly put on a Kings jersey when her daddy buys the team in about month and a bit

 

[Bricklayer]

Our objective was to get on the Phoenix Suns broadcast. Mission accomplished.

KJ saw us at the game near the Suns bench and gave us a salute with a smile. He said something but I could not hear what he said.

Grats Mike. Way to represent.

 

[Tetsujin]

After KJ, Sacramento's second most visible ambassador is Mike's hat.

 

[Gilles]

Exactly.
There will be no bidding war because the Maloofs signed the Hansen deal already. In order to increase it, both parties have to agree to throw out the old deal and sign another one. That said, time is getting short and one thing is clear. No hometown discount. They have to up their money offer.

In the end it might be a ploy to make city walk extra mile for new owners. They are not doing all this out of goodness of their hearts.

I viewed it as Gary.. no bidding war meaning even if we don't match that won't equate to Seattle bid being approved, which just means that our bid wasn't in the ballpark to me

This will undoubtedly meet the opposition from 29 other guys - when/if they decide to sell they expect market value for their investment however distorted that value may be.

 

[kennadog]

Well, it makes me nervous, but they made the bid early enough that they have time to change it. Let's face it, nobody knows how the Hansen/Ballmer bid is structured or the actual terms. So Mastrov/Burkle had to make a bid to get some feedback. They got it. We just have to pray that they are willing to up their bid significantly. Plus they are working like mad on the arena term sheet to have it ready by March 26th city council meeting. With the Bog preparing to hear presentations from both sides in April 3rd, I now understand why the city council vote on the arena deal was moved up a week.

All we can do, as fans, is keep showing our support. And remember, we do have a lot of people on our side, including a lot of players, former players, coaches, etc. that have spoken up for Sacramento.