HndsmCelt
Hall of Famer
My understanding is that the Hansen offer linked the two, in that with out permission to move the team the offer is not valid.
Bid too low and other latest news, rumors, etc.
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Section 101
All-Star
Correct. And the Maloofs have no arena deal anywhere.
Glenn
Hall of Famer
I understand but what I was saying was different and I don't mean this to be taken terribly seriously as I am sure that what I am to write will not happen. It is easier to move the team. The Maloofs have asked for the team to be moved. I assume Hansen has no standing to make that request. What if the Maloofs get the 50% vote to move but not the 75% vote to sell?
The reason I don't think this is likely is because the BOG will link the two requests and it is an all or nothing vote linking both requests. The arena problem better be an issue with Seattle as I don't think the BOG can authorize a move to a city that can't provide an arena. Sacramento has to get the arena deal nailed down waiting for an owner's signature.
Kingsfan23
All-Star
Thanks for clearing that up. I had always wondered the opposite of what Glenn was saying. That if the BOG could approve the sale but NOT the relocation, forcing Hansen/Balmer to make a good faith effort here, that this would be a positive instead of outright losing the team.
ParniValjak
All-Star
Probably because Burkle will likely put in the money that AEG was going to put in. Then Burkle and the city can go out and look for the arena operator and get return on their investments that way as well as getting bigger share of the revenue than they would have under the railyards deal!
This was mentioned as likely being the case as soon as downtown mall was mentioned as Burkle's preference!
Its probably a better deal overall for Mastrov/Burkle and the city of Sacramento as it means they get more revenue from the arena! I would not be worried about this. The only reason AEG was brought in last time is because the Maloofs could not contrinue more than about a quarter of the cost. With Mastrov and Burkle, they could probably build the whole damn thing on their own!
Carmichael Dave is NOT the only face of fan support. If you haven't noticed, CrownDowntown has been in the forefront of a majority of the action the past few months. They're not quitting, they're not giving up and they're still representing us in a way no one else has been able to do.
There is NO new credible information, which is probably why it's not being talked about on this forum. There's speculation, there's rumor and there's unsubstantiated guesswork. That's about it.
EVERY SINGLE MOVE Mayor Johnson has made so far has been the right move. His timing has been right on, he hasn't done anything without a good reason. He's got some of the best political strategy minds in the country working with him, and I trust them to continue to do the right things for all of us.
If Keriotis makes a big move, he has to have the $$$ and arena deal behind him for the NBA to approve, and there's no indication thus far that he has it.
If you want to be a part of all this, help CrownDowntown to keep putting out the message. And what's the importance of the message? It's pretty simple actually. The BoG consists of team owners, all of whom are attuned to the actions and reactions of the fans who support their teams day in and day out, through thick and thin. There's absolutely no doubt in my mind that having CrownDowntown out there and up front WITH THE MAYOR has made an impact on those owners and will continue to do so. Mike and the CrownDowntown folks have finally started getting the recognition of the local news media and you can expect more of the same. These folks are putting it all out there for the rest of us, and for everyone in Sacramento who will benefit from keeping the Kings and getting a new arena in a revitalized downtown.
ParniValjak
All-Star
As Stern said this is avery unique situation. In normal circumstances, there is no way that the sale to Hansen/Ballmer group is not approved. That ownership group ticks all the boxes! The sticking point is the relocation. The NBA does not like to move teams from places where it works but the Seattle ownership group is so good and the market is so good it needs strong consideration and Sacramento coming with the goods to keep the team.
As much as this is frustrating, I've got to believe that Kj is right in saying that it would be impossible for NBA to allow the relocation if there is an advanced arena plan, support in terms of sponsorships and season tickets an political support. Sacramento has all that. It needs to deliver on all of that AND Mastrov/Burkle ownership group MATCHING Seattle's financial offer for the team.
Section 101
All-Star
They have to ask for a specific location in the relocation request. They have no arena deal in seattle without Hansen owning the team.
Section 101
All-Star
They were not part of this one from the start. That doesn't mean they won't be running the arena if they decide to farm that part out.
This idea is torquing me because of his stated goal to build in Natomas. Problem is, you CAN'T. There is a building moratorium due to the levee situation, and that won't be solved for YEARS. The NBA is looking at several factors, and one is speed of new arena construction!
Am I glad folks are stepping up to try to keep the Kings? D*** stratght. I just don't want to see folks at cross-purposes here, with the ultimate effect that we don't have a united front and lose the team because of it.
kennadog
Dog On It!
Ditto to all of this, but the bolded part is the critical problem with Natomas as a site.
kennadog
Dog On It!
Don't feel bad. I saw one news report that had it backwards, too. Made me question what I thought I knew. 75% for sale; 51% for more. is correct.
AEG was going to be an equity investor in last year's deal. I think all Burkle meant was AEG won't be part of the financing package this time, which, to me, means the arena financing scenario this time doesn't need a financial contribution from AEG. My understanding is they could still be in the running as the eventual operator/manager of a new arena. I think this is good, having a separation between the interests of the ultimate operator/manager and the financial interest of the owners.
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Burkle will probably run this the same way he runs the Consol Energy Center. He has AEG manage the arena operations and works with both AEG and Live Nation to book events. Burkle will develop the arena and be responsible for cost overruns. The city or an authority will own or lease the property and own the arena.
So the team via Mastrov and Burkle will likely have a much larger role than the Maloofs.
With the numbers I've heard mentioned, it would be the city contributing 255 million again. Made up of land sales of non-Plaza properties and transfer of K street properties to Burkle. IMO for the rest, they will go with lease revenue bonds backed with city parking revenue. Perhaps managed by a new parking authority. I think the revenue bond route based on parking is more flexible and has better potential than leasing the parking out to an outside vendor.
The Burkle/Mastrov partnership on the Kings end will be coming with perhaps 150 million. A percentage of that is upfront lease for the team (same deal as Maloofs without NBA fronting), possibly arena land and cash. All of which AEG, the NBA was kicking in last year.
We should know what this looks like on Thursday. I've heard Shirey comment that this time the term sheet will be twice as large as last year's 22 page agreement. So we'll have a lot to chew on soon.
So you're saying that work on Friday morning is going to be a real b**** for me, is that what you're saying?
I was actually under the impression that despite the talk last time around of leasing out the parking that the City was leaning toward a Parking Authority, so this one may look pretty similar to last year when it's all said and done. I don't remember a whole lot of value in land sale last year, though. A rumor here or there but not more than a few million, if I remember.
Looking forward to not sleeping on Thursday...
Elektrik
Starter
Wow! Sorry I posted this. Yes I have been following Crown Downtown and Mike and all the rest who have been doing a phenomenal job, as has Mayor Johnson and John Shirey. As far as me wanting to be a part of this, I have been, by attending Kings games, buying Kings gear since 1989, and I have attended a couple of city hall meetings as well as HWBN 1 and will probably attend #2. I have made a committment to purchase season tickets assuming the new arena gets built. Have you? You seem to assume that you you are the all knowing and all seeing of all things Kings. Well you're not. You dont know the first thing about me and my involvement or passion in being a part of keeping the Kings here and I don't appreciate you nasty condescending tone. I merely stated something that was "out there". If you don't choose to accept that information as something that may be going on behind the scenes then fine. You don't have to get all sanctimonious about it. As you sometimes say....Sheesh
Trueblood
Bench
Don't feel bad. I saw one news report that had it backwards, too. Made me question what I thought I knew. 75% for sale; 51% for more. is correct.
AEG was going to be an equity investor in last year's deal. I think all Burkle meant was AEG won't be part of the financing package this time, which, to me, means the arena financing scenario this time doesn't need a financial contribution from AEG. My understanding is they could still be in the running as the eventual operator/manager of a new arena. I think this is good, having a separation between the interests of the ultimate operator/manager and the financial interest of the owners.
Exactly. While I've been trumpeting AEG for a long time, it's been because their connections were so much better than MSE's. Better connections means more events which means a more profitable building or a means to bridge the funding gap.
With the Maloofs out of the picture, a deep pocketed whale doesn't need AEG bridging any gaps. If anything, they want to invest their own money to get in on the 200 events a year action.
I apologize sincerely for any misunderstanding,. I had just finished reading some of the comments lambasting CrownDowntown at sacbee, and I should probably have taken a deep breath or six before responding to you. My response kind of took on a life of its own and turned into more of a general statement in defense of the good being done by people who I personally think have done so much without a lot of recognition anywhere else but here on KF.
My whole goal in all of this has been to help get the word out about what's really happening as far as we know it, as opposed to all the rumors, etc. that have been floating around without any substance in fact. Those are the kinds of things the anti-arena crowd feast on and use both at city council meetings and in the social media to try and derail the whole deal.
Again, if my tone offended you, I am sincerely sorry. It was not my intent.
Yeah, this makes Kehriotis look like funny uncle: everybody knows about the problem, but he continues to stick to the idea.
We need to give the nbA A BID FOR THE FRANCHISE AND a planandd financing for an arena.
The bid has been submitted but is not competitive. We need anew bid.
A financed arena plan is in the works.
Time is of the essence regarding both.
The first may be easy to accomplish if money is available. Probably won't be done until an arena deal is submitted.
Aren deal is probably a very complex and difficult task to get done particularly in the time available.
If both tasks get done nd are satisfactory Sacramento will probably keep its team, maybe under new ownership.
Let's hope the arena deal gets figured out in time.
The bid has been submitted but is not competitive. We need anew bid.
A financed arena plan is in the works.
Time is of the essence regarding both.
The first may be easy to accomplish if money is available. Probably won't be done until an arena deal is submitted.
Aren deal is probably a very complex and difficult task to get done particularly in the time available.
If both tasks get done nd are satisfactory Sacramento will probably keep its team, maybe under new ownership.
Let's hope the arena deal gets figured out in time.
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Brac-o-matic
G-League
Elektrik
Starter
no worries. Perhaps I am too sensitive sometimes.
kennadog
Dog On It!
Last year they left open the possibility of the city retaining operations and management of the parking. No final decision was made, because the Maloofs killed the baby arena in its crib.So you're saying that work on Friday morning is going to be a real b**** for me, is that what you're saying?
I was actually under the impression that despite the talk last time around of leasing out the parking that the City was leaning toward a Parking Authority, so this one may look pretty similar to last year when it's all said and done. I don't remember a whole lot of value in land sale last year, though. A rumor here or there but not more than a few million, if I remember.
Looking forward to not sleeping on Thursday...
I try not to read much from the anti folks in the Bee. But if some of you other Crown Downtown are being paid and getting bused to events, then I want get paid, too. And I want to get reimbursed for all the gas money I've spent.
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Mike0476
Starter
Last year they left open the possibility of the city retaining operations and management of the parking. No final decision was made, because the Maloofs killed the baby arena in its crib.
I try not to read much from the anti folks in the Bee. But if some of you other Crown Downtown are being paid and getting bused to events, then I want get paid, too. And I want to get reimbursed for all the gas money I've spent.
I have to admit a year ago when we were known as #FANS, our shirts were paid for by Think Big.
We also got limo rides to the March 6th vote.
OK sarcasm mode off.
I think it's funny the opposition are quick to point the finger at us about being paid off yet they never complained about how Sandy Sheedy (active council member at the time) funded $15,000 to STOP. Good to know STOP used that $15,000 on a BBQ which had about 10 people out of 2,000 volunteers show up.
Watch the video as the chairman of STOP said they have 2,000 volunteers at the 2:35 mark. Fortunately the working man's $40 was spent wisely...on hot dogs.
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Tetsujin
The Game Thread Dude
Which really begs to question where the rest of most of that 15000 dollars went. Sure as hell didn't go to recruitment.
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Mike0476
Starter
You mean it didn't all go to hot dogs, hot dog buns, sodas, chips, etc.?
kennadog
Dog On It!
Me too!
Me too!
Same here!
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