Carmichael Dave going HAM on twitter about the Magoofs

[fansinceday1]

I do. And some people doing this isn't a big deal. When a lot of people take your position, it hurts the odds the team stays. IMO, if you want this team to stay badly enough, you should stay away.

Heck, stay away for a month or two. When the Kings are playing in front of A's crowds a lot of nights for a month, the point will be proven and the Maloofs might sell. You can cheer the guys on in 2013. By that point, a lot of fans will get what's going on. They can stay home and you can go. Win win.

Totally agree with you Larry. The Oakland A's made the national news during the beginning of the baseball season because they drew 4-5,000 + for a couple of games. It was an embarrassment for baseball. The same could be done here. The Kings playing in front of an empty arena is news.

 

[fansinceday1]

If you don't want to go to the games, don't go. But please do not try and convince me to stay away. It's not gonna happen. I don't root for lins and I don't punish the players of the team I've loved since 1985 because the current owners are bozos.

The Maloofs are playing hard ball? So far, they look like they're playing Keystone Cops. You can hit them in the wallet in a lot of ways without actually giving up on the team. And I don't care what you say - staying away is an insult to the guys who are playing the game and I won't be a part of it.

I respect your right to your opinion and your choice, whatever it might be, but it does not mean I agree with it. I would ask for the same in return.

I respect your opinion VF but I also hope that your in the minority. I agree with Larry. If you wanna support the team, don't show up. It will make a difference.

 

[Mike0476]

Mike. KJ has to say that. If he's out there saying, let's cut the Maloofs off at the knees, the other owners aren't going to help us. He was also talking about the end of last season. At this point, you are either helping the Maloofs keep the team and move it out or helping Stern or KJ with your money.

The place is often 75% full with a lot of tickets marked down or given away. It's all about leverage at this point. The Maloofs have to try to make the case that Sacramento isn't an NBA market any more. Stern can't get rid of the Maloofs until he can make the case that they are hurting the NBA's market.

Because of the black friday press conference, there aren't enough fans to make a case to the BOG by pushing the attendance number up. No matter what, it's going down. The only issue is how big of a drop. If it's just a little worse, the Maloofs case gets better. Nobody cares. Because Sac steped up last season with ticket sales, made a fair arena deal, and the Maloofs threw dirt on the league and the city Friday, and most fans stay away, Stern gets a lot of leverage to step in. There are fans here, they are just done with the owners, who failed the city.

I respectfully disagree.

Below is just one reason why. Yes, that was published on June 1, 2010. I will post more reasons later. When? Stay tuned.

http://www.cnbc.com/id/37447169/One_on_One_With_Joe_Maloof

Darren: A lot of NBA teams lost money this year. You drew on 13,200 fans a game this past year. What's the state of business with the Kings?

Maloof: We had years where we made money and we had years where we lost more than $20 million. We reduced expenses enough this year so that no matter how many fans showed up, we'd have a chance to make a profit. Do I love doing that? No. I hate it. I want to compete. I want to fill the building.

Just for the fun of it here's a bonus quote from the same article.

Darren: Speaking of the building, you guys have been lobbying to get out of Arco, which was built in 1988, for a long time. But things have changed in the business landscape. The reason for wanting to get out of Arco was to enjoy all the luxury suite revenue that all the new arenas provided teams. That revenue isn't what it used to be. Does that change things?

Maloof: That's true. It's a lot different from two or three years ago when franchises were depending on selling out those suites or club suites or bunker suites. So the truth is that we don't need a new building as much as we did a couple years ago. If we can't fill the suites now, what's a new arena going to do? They won't automatically fill up. We have to go back to customer, we have to do a great job with group ticketing and we have build a team that will win.

 

[Section 101]

Mike. KJ has to say that. If he's out there saying, let's cut the Maloofs off at the knees, the other owners aren't going to help us. He was also talking about the end of last season. At this point, you are either helping the Maloofs keep the team and move it out or helping Stern or KJ with your money.

The place is often 75% full with a lot of tickets marked down or given away. It's all about leverage at this point. The Maloofs have to try to make the case that Sacramento isn't an NBA market any more. Stern can't get rid of the Maloofs until he can make the case that they are hurting the NBA's market.

Because of the black friday press conference, there aren't enough fans to make a case to the BOG by pushing the attendance number up. No matter what, it's going down. The only issue is how big of a drop. If it's just a little worse, the Maloofs case gets better. Nobody cares. Because Sac steped up last season with ticket sales, made a fair arena deal, and the Maloofs threw dirt on the league and the city Friday, and most fans stay away, Stern gets a lot of leverage to step in. There are fans here, they are just done with the owners, who failed the city.

I disagee. Super lower attendance and big losses improve their chances of having relocation approved. While staying around the break even point reduces the chances of relocation. If your counting on them selling the team from losing money there is a greater risk they move then sell.

 

[Larry David]

Mike, you're talking about if a team would want to stay based upon whether they can make a profit here. That ship has sailed my friend. When they not only tore up the arena deal, but used an Anaheim economist to publicly crap on the region, it became all about trying to force a majority of the other owners to permit them to move.

They wanted to leave a year ago. Now, they've burned every bridge in town to move forward and they can hang on here forever.

Thier conduct was so poor attendance will stink, the only question is how bad.

Vf is saying, I still want to go. That's a fair opinion. You seem to be saying that buying tickets will help keep the team here. That's not true. They want to force a move, we need to force a sale

 

[Larry David]

Section, a few more years of break even attendance with bottom payroll and no arena progress and the team will certainly be gone. A majority of the owners are going to be shaking their heads, but won't leave a frachise in a city that didn't produce an arena after 15 years and didn't draw well for 8. You can say things like Stern will save us or the owners are pissed. Yes they are, but they arent going to strand the Maloofs here with no road forward for more than two or three years. This team is already slowly headed out of town.

They only stay if the Maloofs feel pressure to sell or Stern has a case to force a sell. Break even attendance won't cause either. If people stay home after rallying to the Kings last season, Stern can make the case the Maloofs broke the Nba's market in the spring.

My position has a lot of risk. But the team is already on the way out after the stink wears off to the other owners in a year or two. I think fans need to vote with their wallets

 

[PurpleHaze]

I agree with Larry David take.

As I said earlier in this thread Maloofs have now crapped all over their so-called "serving the customer first" mantra, so it's time for paying customers to stop blindly serving them. The options to attain a positive result for Kings fans may be limited but there are some. Contacting MSE corporate sponsers to protest continued lining of Maloofs wallet and boycotting those businesses that refuse cooperation is a real option. If attending Kings games, not parking in paid parking lot, refusing to buy team merchandise or attend any non-Kings events at PBP is another set of protests. They all add up to fans rebuke that will surely get noticed and is better than doing nothing. Otherwise, it's more slaps to fans face by George "Stinky" Maloof and slimey clan as they plot their exit from Sacramento laughing all the way to the bank - but dwindling their Wells Fargo Bank account as we slap back.

Perhaps organized wearing of black shirts to all games next season that instead of promoting Maloofs "Black Out" boldly proclaim on our own shirt - "Sell The Team!" Some local entreprenuer might be able to make a mint selling them if Kings fan protest takes off as it could and should.



My previous post in this thread:

I wholeheartedly agree that we as Kings fans must NOW put our foot down squarely on Maloofs neck and not continue to routinely "serve them." It starts with corporate sponsers. Perhaps someone could list biggest and most lucrative supporting MSE - so we can contact them with direct protest and prepare an organized boycott. Folsom Lake Ford, VSP Vision Care, Thunder Valley Casino, all come to mind. Then there's ones like Petkus Brothers who Napear pitches relentlessly on his KHTK sports radio show. I for one may still attend a few Kings games next season but will not park in their lot and will not buy a single concession item. But my cheering and yelling will definitely be as loud as ever for "our" Sacramento Kings team.

 

[Section 101]

Section, a few more years of break even attendance with bottom payroll and no arena progress and the team will certainly be gone. A majority of the owners are going to be shaking their heads, but won't leave a frachise in a city that didn't produce an arena after 15 years and didn't draw well for 8. You can say things like Stern will save us or the owners are pissed. Yes they are, but they arent going to strand the Maloofs here with no road forward for more than two or three years. This team is already slowly headed out of town.

They only stay if the Maloofs feel pressure to sell or Stern has a case to force a sell. Break even attendance won't cause either. If people stay home after rallying to the Kings last season, Stern can make the case the Maloofs broke the Nba's market in the spring.

My position has a lot of risk. But the team is already on the way out after the stink wears off to the other owners in a year or two. I think fans need to vote with their wallets

The city has the plan for the ESC. It's the Maloofs balking. The other owners know this. If they want money from their cities they need the Maloofs to take the deal otherwise they will start pointing to the Warriors new arena as the new model.

Breaking the market means nothing as long as they make payroll. I don't see them not making payroll even with low attendance. They will cut everything else first, arena staff, assistant coaches etc.

Basically, not showing up is not going to force them to sell. They have already had an offer above market value according to KJ.

The team staying is the first priority, new owners is second. The relocation committee is the first line of defense for them staying.

 

[Larry David]

The city has the plan for the ESC. It's the Maloofs balking. The other owners know this. If they want money from their cities they need the Maloofs to take the deal otherwise they will start pointing to the Warriors new arena as the new model.

Breaking the market means nothing as long as they make payroll. I don't see them not making payroll even with low attendance. They will cut everything else first, arena staff, assistant coaches etc.

Basically, not showing up is not going to force them to sell. They have already had an offer above market value according to KJ.

The team staying is the first priority, new owners is second. The relocation committee is the first line of defense for them staying.

The current owners have no intention of staying here, keeping the team here and keeping the same owners for more than two seasons don’t equal.

It’s a 15 year battle between the city and the owners. The Maloofs are idiots and committed the worst and most recent foul. But you really think that after the national coverage and shock of their move wears off in two years, 16 other owners are going to side with a city that’s no longer negotiating with the team and no prospects other than, “Make them take the Orlando deal” going forward? That isn’t going to happen. When the stink wears off, a majority owners are going to back owners.

You are starting with the proposition of “How does the team stay here” and managing the facts and your assumptions to get to that conclusion.

The fact is the Maloofs, while stupid, are not being managed on this issue by an anti-trust attorney with the goal of moving the team out of town. Odds favor they bide their time for two years, falsely pushing for a remodel, and they apply for relocation after two seasons. With a completely outdated arena and no prospects to replace one, I think the NBA owners reluctantly allow the Maloofs to move somewhere – maybe not Anaheim, but somewhere.

Also, it makes no sense to claim that, the NBA owners are going to save the Sacramento market and simultaneously argue that Stern’s “best interest” in the league clause argument isn’t bolstered when the Maloofs drive attendance down from 13,000 to 7,500 based upon their conduct in April. Stern is the only savior, not the owners.

Finally, you are saying you don’t think they can meet payroll anyhow and slashing their revenue isn’t going to force them to sell.

Your kinda all over the board here.

 

[Section 101]

The current owners have no intention of staying here, keeping the team here and keeping the same owners for more than two seasons don’t equal.

It’s a 15 year battle between the city and the owners. The Maloofs are idiots and committed the worst and most recent foul. But you really think that after the national coverage and shock of their move wears off in two years, 16 other owners are going to side with a city that’s no longer negotiating with the team and no prospects other than, “Make them take the Orlando deal” going forward? That isn’t going to happen. When the stink wears off, a majority owners are going to back owners.

You are starting with the proposition of “How does the team stay here” and managing the facts and your assumptions to get to that conclusion.

The fact is the Maloofs, while stupid, are not being managed on this issue by an anti-trust attorney with the goal of moving the team out of town. Odds favor they bide their time for two years, falsely pushing for a remodel, and they apply for relocation after two seasons. With a completely outdated arena and no prospects to replace one, I think the NBA owners reluctantly allow the Maloofs to move somewhere – maybe not Anaheim, but somewhere.

Also, it makes no sense to claim that, the NBA owners are going to save the Sacramento market and simultaneously argue that Stern’s “best interest” in the league clause argument isn’t bolstered when the Maloofs drive attendance down from 13,000 to 7,500 based upon their conduct in April. Stern is the only savior, not the owners.

Finally, you are saying you don’t think they can meet payroll anyhow and slashing their revenue isn’t going to force them to sell.

Your kinda all over the board here.

I guess we find out in the next few weeks if KJ has a new arena plan w/o the Maloofs. I don't see Stern changing his tune now after what happened. Both the league and city put out money for the ESC and the Maloofs showed they had no intention of taking the deal from the start. They wasted the cities and the leagues time. The relocation committee wont approve a move within the next 2 years. The only way the Maloofs have a shot at a committee approval is if they can show they can't make money here.

I didn't say they can't make payroll. I said if it comes down to it they will start cutting everything to make payroll. And by payroll I mean player salaries.

 

[Livinthedream]

IMHO, the sponsors staying away is the first way to hit the Maloofs pockets. I also agree that going to the games is more helpful to the Maloofs than it is for our chances at an arena. The Maloofs want to leave and we can only stop that by fighting back. Not by begging. However, if you choose to boycott the Maloofs, you have to make sure everyone knows that you're doing it. Can't let the Maloofs spin the story. It would have to be a unified effort to get the message across, and the city couldn't have any hands in it.

 

[hoops4kings]

An empty arena every home game would send a huge message about these deadbeats!

 

[VF21]

The ONLY reason we're even still talking about this is because we, the fans, have shown our overwhelming loyalty TO THE TEAM despite the actions of the Maloofs. Time and time again it has been made abundantly clear to the NBA, including Stern and the BOG, that Sacramento is full of support for the Kings. One of the main examples of this has been the enthusiasm and atmosphere at Kings games.

Be very, very, very careful what you suggest as a message to the Maloofs. Supporting the team but not attending the games may be intended to send a message about poor ownership but what it will also say is that, for whatever reason, the Sacramento area is no longer supportive of the local NBA franchise. It won't reflect solely on the owners, even though it will be widely known. It could easily give the Maloofs the small tilt they need to get the BOG to allow them to move. We all know how well, as Livinthedream says, the Maloofs can spin just about anything.

An empty arena would be a self-fulfilling prophecy. If you don't go, you make it much easier for them to leave.

You don't have to eliminate their total revenue stream to make your point. One of the main assets the Maloofs count on is the parking revenue. Remember how adamant they've been all along about that revenue. If people don't park inside, the Maloofs don't get the revenue. If you don't shop at the Team Store, the Maloofs don't get that revenue. If you don't eat at the arena, the Maloofs don't get that revenue. Support the merchants around the arena and eat before or after the game.

Do not buy into the idea that boycotting games will force the Maloof's hand. It won't. It will just give them ammunition, especially with those who aren't really familiar with the situation. The ONLY way a boycott would actually work is if it was well orchestrated and publicized long before the actual game. That way, the local news would be talking about fan action and protest instead of commenting on fan apathy. (I'm sure most of you remember the apathy comments from before, when the local news accused fans of being disloyal and fickle instead of talking about the drastic decline in product quality MS&E was putting on the court.

Sponsors are another issue altogether. The letter from various business owners was a step in the right direction, although it could have been handled much better. The fact that KJ was able to garner so much sponsor support after the Maloofs cried that it just wasn't out there was a clear indication to the league and the BOG that it's not the region. Those kinds of things need to continue in some manner.

In the meantime, the players are stuck in the middle. Do you guys really think any of them want to be in this position? The number of times various players thanked us, the fans, for our loyalty and support speaks volumes. As long as they're here, I will continue to support THEM as much as I possibly can.

All I'm saying is think this stuff through. Don't cut off your nose to spite your face, so to speak, and please do not make it easier for the Maloofs to blame us for their own inadequacies, failings, lies and deceits.

GO KINGS!

EDIT: This post does not mean in any way to reduce or minimize the incredible effort Mayor Kevin Johnson has put into retaining the Kings. I didn't mention him for the sole reason that this seems to be about fan actions and not those of the City Council or any other organized movements.

 

[Larry David]

In Spring 2011, KJ sold the NBA that Sacramento is a viable and important NBA market. For a horrible team, sponsors and fans stepped up.

The attendance issue only matters at the outset of next season. Those figures will either lead the owners to conclude: (1) oh man, this is a mess. It’s Charlotte all over again. We have to do something here one way or the other; (2) I guess the die hards have moved on from Spring 2012 and are still willing to attend games. We’re back to the status quo, hopefully the Maloofs and the city can figure something out in a year or two.

At which point, the primary issue for the owners is not attendance. It’s the facility. Because even if Sacramento sells the place out for another 8 years, at some point without a building, the league lets them go. The NBA can’t make the Kings take an arena deal here. The Maloofs are never going to make a deal here. Based upon the history of the four major sports, there is no reason to believe their fellow owners will continue block several relocations requests to move away from an outdated facility that isn’t going to be replaced. (The Twolves attempt to move to New Orleans is too dissimilar – facility wasn’t this outdated and the negotiations weren’t as prolonged.)

Fans have one chance and one wrench to throw into the gears of this train that is already starting to leave town. I understand why you’d be worried about that blowing up and expediting the end of the franchise in this city, but maintaining the status quo is an absolute death sentence to the Kings future here.

VF the course you propose merely slows the Maloofs efforts to slowly push this team out of Sacramento. If you would rather go to games, fine. That’s your right. But your argument that mediocre attendance (and that’s all it can be at this point), improves the odds of the Kings saying here long term is wrong. Just wrong.

Nobody can see what’s going on if you are eating across the street and walking in. Fans see the place 3/4 full and the attendance in the box score looks ok. Bad attendance and people saying why they are staying home is the only way to raise the profile and make a difference.

 

[kennadog]

An empty arena every home game would send a huge message about these deadbeats!

Yeah, a message to the BOG that the team can't survive financially in Sacramento, especially at a crappy, old arena. Making it easier to vote approval on a Maloof request to move.

I hate to say it, but the league/other owners can't make an owner sell, if said owner doesn't want to sell. Remember they are all almost universally super rich. They are far more likely to vote for a move out of sympathy for the Maloofs position, if their financial situation in Sacramento deteriorates even further. After all, there are places ready and willing to take our Kings.

That's besides the point to me. I don't get to go to a lot of games, but I will go. I won't let my team's players play in front of an empty arena and I will go to support the employees, who are likely to get laid off, if revenues drop.

Maybe we organize a fan protest at a nationally televised game. Maybe everybody shows up in a T-shirt that says something like, "Stern-We Want Owners Worthy of Us" or something more creative. Maybe signs, too.

 

[VF21]

In Spring 2011, KJ sold the NBA that Sacramento is a viable and important NBA market. For a horrible team, sponsors and fans stepped up.

The attendance issue only matters at the outset of next season. Those figures will either lead the owners to conclude: (1) oh man, this is a mess. It’s Charlotte all over again. We have to do something here one way or the other; (2) I guess the die hards have moved on from Spring 2012 and are still willing to attend games. We’re back to the status quo, hopefully the Maloofs and the city can figure something out in a year or two.

At which point, the primary issue for the owners is not attendance. It’s the facility. Because even if Sacramento sells the place out for another 8 years, at some point without a building, the league lets them go. The NBA can’t make the Kings take an arena deal here. The Maloofs are never going to make a deal here. Based upon the history of the four major sports, there is no reason to believe their fellow owners will continue block several relocations requests to move away from an outdated facility that isn’t going to be replaced. (The Twolves attempt to move to New Orleans is too dissimilar – facility wasn’t this outdated and the negotiations weren’t as prolonged.)

Fans have one chance and one wrench to throw into the gears of this train that is already starting to leave town. I understand why you’d be worried about that blowing up and expediting the end of the franchise in this city, but maintaining the status quo is an absolute death sentence to the Kings future here.

VF the course you propose merely slows the Maloofs efforts to slowly push this team out of Sacramento. If you would rather go to games, fine. That’s your right. But your argument that mediocre attendance (and that’s all it can be at this point), improves the odds of the Kings saying here long term is wrong. Just wrong.

Nobody can see what’s going on if you are eating across the street and walking in. Fans see the place 3/4 full and the attendance in the box score looks ok. Bad attendance and people saying why they are staying home is the only way to raise the profile and make a difference.

I actually think we're more in agreement than it may seem. My primary concern is making sure that IF a boycott occurs the message is clear as to why. You seem to be mixing a couple of different things under a common heading. If the purpose is to hurt the Maloofs financially, the things I suggested above would work.

For the record, I never said that mediocre attendance improves the odds of the Kings staying here. Your assertion that I did so is wrong. I said that poor attendance alone (at least on its face) could easily help the Maloofs make their case for a move. I think that's a pretty significant difference.

Let's face it. Our attendance is going to depend on what happens with the draft and other trades. If there isn't a significant improvement in the overall quality of the product, I don't see attendance breaking any records - unless the Maloofs start giving the tickets away, in which case going there on the Maloof's dime and then NOT BUYING anything while there could be a significant hit to their bottom line.

If there were easy answers, we wouldn't have pages and pages and pages of discussions and rehashes of the same old arguments and concerns. We're trying to solve a jigsaw puzzle without all the pieces and unless we can get access to the Maloof's financial records and all their communications with Anaheim we most likely will never see some of them.

 

[VF21]

Oops. Forgot one thing:

You assert that the NBA will not force the Maloofs to stay with an antiquated arena. While true on its face, I think their ability to use that as ammunition suffered drastically when they (Maloofs) turned down a deal on shady rationale that would have gotten them a new facility with NO INITIAL OUTLAY on their part. You can't get out of a lease because your house hasn't been painted if a legitimate offer to paint your house was proffered and you turned it down.

 

[Larry David]

The Maloofs want to move. After 2-3 years, unless a deal somehow gets done here, the other NBA owners will let them move. Owners are going to back owners and their own right to move and play hardball with a city.

The Maloofs are family of 6, who are set up with equal shares to 300 million in stock and they don't want to sell all of it. The only way Sacramento keeps the Kings is with losses that are big enough that George, Joe, and Gavin can't get the rest of the family to agree to sell off chunks of stock to pay for two years of losses.

Otherwise, the Kings are in another city and Sacramento should start brushing up on hockey.

 

[Larry David]

Oops. Forgot one thing:

You assert that the NBA will not force the Maloofs to stay with an antiquated arena. While true on its face, I think their ability to use that as ammunition suffered drastically when they (Maloofs) turned down a deal on shady rationale that would have gotten them a new facility with NO INITIAL OUTLAY on their part. You can't get out of a lease because your house hasn't been painted if a legitimate offer to paint your house was proffered and you turned it down.

Nobody would expect somebody a business to try to go forward without a key part they needed. Arco is all but done as an NBA arena. It's not going to get replaced while they are here. Even if a fellow owner is being really dumb about an offer on a arena, owners aren't going to back a city over an owners right to move in this fight in two year. Right now, they'd say no. Next year, maybe. Two years from now, they let the Maloofs go.

No shot the Kings are forced to say here 3 seasons or more with, "You can't move. You can take the Orlando deal or stay in Arco." If the NBA did that, the Kings will win in court and force the move.

This has nothing to do with paint on a house you can otherwise live in.

 

[Section 101]

Owners are going to back owners and their own right to move and play hardball with a city.

No they aren't. Last year proves it. And with what happened with the ESC this year it will only reinforce the BoG against the Maloofs even more. Are you forgetting the city came through with a plan for the ESC? If anything this gives cities more leverage against teams because they will want the teams to front more money.

Your assuming that stock isn't collateral on a loan in which case if they sell it the loan comes due. I think this is the very reason they don't want to sell the Kings. There is some loan out there (Samueli) that comes due if they sell. They can't cover the loan with the liquid money they have saved.

 

[VF21]

...The Maloofs are family of 6, who are set up with equal shares to 300 million in stock and they don't want to sell all of it. The only way Sacramento keeps the Kings is with losses that are big enough that George, Joe, and Gavin can't get the rest of the family to agree to sell off chunks of stock to pay for two years of losses.

Otherwise, the Kings are in another city and Sacramento should start brushing up on hockey.

Do you have any documentation to prove that is the way the stock is allocated?

 

[Larry David]

Do you have any documentation to prove that is the way the stock is allocated?

Yes, I have George Sr.'s will in my desk. Should I walk a copy over to you?

Really? If it's not equal my point is stronger. $330 is a lot. But when you cut it up six says, want to live large on it now, and pass a lot of it along, selling a chunk to play out the string in Sacramento may seem like a good idea to Phil, mom, and the House Wife. If they say no, the three dummies might not be prepared to sell off a bigger share of their stock.

 

[Section 101]

Yes, I have George Sr.'s will in my desk. Should I walk a copy over to you?

Really? If it's not equal my point is stronger. $330 is a lot. But when you cut it up six says, want to live large on it now, and pass a lot of it along, selling a chunk to play out the string in Sacramento may seem like a good idea to Phil, mom, and the House Wife. If they say no, the three dummies might not be prepared to sell off a bigger share of their stock.

I'm pretty sure it would set up in a trust. I doubt they even consider it a 6 way split, but a single family. I wouldn't be surprised if George was the trustee and has already screwed them over.

 

[Capt. Factorial]

If it's not equal my point is stronger. $330 is a lot. But when you cut it up six says...

I can't imagine that they have $330M worth of stock in the Kings, though. The franchise value should be in the $300-400M range, and the Maloofs only own a bit north of 50% of it. Where do you get $330M?

 

[Larry David]

I can't imagine that they have $330M worth of stock in the Kings, though. The franchise value should be in the $300-400M range, and the Maloofs only own a bit north of 50% of it. Where do you get $330M?

That's the value of the Fargo stock my friend. Another tangent here. The point is this. They've thrown that number out to Grant and the Bee to make it seem like the family is stocked to ride this out. That might not be true. There are out of NBA credit. Everything else is gone. If the family isn't ready to sell chunks of the stocks to cover losses, they can't get pounded here for very long.


So, Sac might be able to pry the team away from the owners that don't want to sell.

 

[VF21]

Yes, I have George Sr.'s will in my desk. Should I walk a copy over to you?

No. That's okay. You can just email it to me at VF21@Kingsfans.com

Thanks.

 

[Circa_1985_Fan]

I'm pretty sure it would set up in a trust. I doubt they even consider it a 6 way split, but a single family. I wouldn't be surprised if George was the trustee and has already screwed them over.

Wow, you know what...that's not too hard to believe actually, that Crazy George screwed over his family and sucked all the money his way...sheesh...shady and scheisty. Smh

 

[JB_kings]

They went as far as selling the family beer distributor business to save the Palms. I can see George trying to talk the family into more measures. Who knows, maybe they dipped into the stock or borrowed against. Their moves lately seem more combative than sitting tight for the long haul. Keep an eye out for any funny stuff with trading players for cash and moves send off players who might be up for long term contracts soon.

 

[kennadog]

No they aren't. Last year proves it. And with what happened with the ESC this year it will only reinforce the BoG against the Maloofs even more. Are you forgetting the city came through with a plan for the ESC? If anything this gives cities more leverage against teams because they will want the teams to front more money.

Your assuming that stock isn't collateral on a loan in which case if they sell it the loan comes due. I think this is the very reason they don't want to sell the Kings. There is some loan out there (Samueli) that comes due if they sell. They can't cover the loan with the liquid money they have saved.

Samueli might take WFB stock as collateral for a loan, if he ever makes a loan to the Maloofs. As a loan underwriter for government, I'd never take stock as collateral. Of course, the loan committee would look at me like I was nuts. Way too volatile.

 

[Trueblood]

Samueli might take WFB stock as collateral for a loan, if he ever makes a loan to the Maloofs. As a loan undewriter for government, I'd never take stock as collateral. Of course, the loan committee would look at me like I was nuts. Way too volatile.

Exactly. If the crash of 2008 taught us anything, it's that you can't trust ANY stock. Samueli is way too smart to make that choice. He pretty much has to make the team be the actual collateral and someone on this board said that would be illegal. If that's the case, and assuming Samueli hasn't lost any brain cells, he'd be a fool to give them the same lease that he offered last year.