City council vote and latest news, rumors, etc.

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Section 101

Section 101

All-Star
#31
#31
kennadog said:
I don't mean they would say their plan is to move the team. Clay Bennett purchased the Sonics and said he would keep them in Seattle. If Kehriotis's group says that without involving the city is the proposal up front, I'm just saying we could face another battle to keep the Kings here. I'd just as soon do this once and have the team tied to Sacramento in legal documents. In Kehriotis's proposal the team would not sign any legal documents with the city.
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He's a bay area guy. He built the embassy suite in downtown sacramento. He owns a $3 mill home in granite bay. I used to see him playing JR tennis back in the early 90's. I doubt he has any desire to move the team.

But he does want the city's acreage next to the arena. There could be a binding agreement about the team staying for X years in order to get that property and have a repayment of X dollars to move the team after.
 
J

JB_kings

Starter
#32
#32
Section 101 said:
He's a bay area guy. He built the embassy suite in downtown sacramento. He owns a $3 mill home in granite bay. I used to see him playing JR tennis back in the early 90's. I doubt he has any desire to move the team.

But he does want the city's acreage next to the arena. There could be a binding agreement about the team staying for X years in order to get that property and have a repayment of X dollars to move the team after.
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That is a possibility. But we need to know a lot more about his plan and who his equity investors are. How solid is his money for the arena? Sam Amick stated on Twitter that what he has is not new. So why would the council act like he came out of nowhere? I've heard insider info from a few sources weeks ago that he was in talks with Chris Hansen to join his group. They've been pretty reliable with all their other info so I don't doubt that there was some truth.

Bottom line is that any effort to keep the Kings and build a new arena here is going to have to be vetted out to a point that they are ready to go to the NBA by Friday with most of their ducks lined up. Or at least a verified quacking duck!
 
Ryan

Ryan

I like turtles
#35
#35
Capt. Factorial said:
That says that Hansen didn't ever make the $30M non-refundable payment. Eeeenteresting! (if true)
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WOW. That was a short turnaround.

RL now saying "#NBAKings owner Joe Maloof tells Bee's @dakasler that Hansen made $30 million payment. Orlando report not true."
 
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D

Dreamtiger

G-League
#36
#36
Whatever the truth is, I think that the $30 million deposit will most certainly be a factor in the BOG's decision, but not in the way that Seattle anticipates. Ever since I first heard about the deposit, I thought it would backfire on the Maloofs and the Hansen group. They're basically telling Sacramento and the NBA that it's a done deal, that there will be legal implications if the sale isn't approved. They're attempting to dictate to the NBA what they must decide on the sale and relocation. If I was on the NBA BOG, this would pee me off, almost as if it's an attempt to blackmail the league into moving the team. As if they no longer have a choice in the matter because the $30 million has now changed hands.

My instinct is that this move didn't sit well with Stern and has been one of the factors in helping turn the momentum in Sac's direction. Especially when on the other side you've got dream owners that are a PERFECT match for the NBA, major players in the areas of sports management, politics, fitness, etc. They may not be nearly as wealthy as the Sac group, but they're a better fit. And in the way they've handled themselves, they come across as more honorable business people and more importantly, more deferential to the NBA. Instead of trying to strong arm their way into the league, their using their political, business, and social savvy to win the favor of the other owners. I may be overstating the importance of this aspect, but I don't think so-- if I'm the NBA, no matter how much I want a team back in Seattle, am I going to look more favorable on an underhanded, secret deal with non-refundable deposit between the Maloofs and the Seattle group, or the city that's been fighting tooth and nail to keep its team, doing everything right, with investors behind them that are willing to work WITH the NBA, not against it. I think the Seattle group lost some support with this move, completely unnecessarily. But perhaps it was the only way to get the Maloofs to agree to sell to them, because it meant instant cash in their pockets.
 
whozit

whozit

Starter
#37
#37
Dreamtiger said:
Whatever the truth is, I think that the $30 million deposit will most certainly be a factor in the BOG's decision, but not in the way that Seattle anticipates. Ever since I first heard about the deposit, I thought it would backfire on the Maloofs and the Hansen group. They're basically telling Sacramento and the NBA that it's a done deal, that there will be legal implications if the sale isn't approved. They're attempting to dictate to the NBA what they must decide on the sale and relocation. If I was on the NBA BOG, this would pee me off, almost as if it's an attempt to blackmail the league into moving the team. As if they no longer have a choice in the matter because the $30 million has now changed hands.

My instinct is that this move didn't sit well with Stern and has been one of the factors in helping turn the momentum in Sac's direction. Especially when on the other side you've got dream owners that are a PERFECT match for the NBA, major players in the areas of sports management, politics, fitness, etc. They may not be nearly as wealthy as the Sac group, but they're a better fit. And in the way they've handled themselves, they come across as more honorable business people and more importantly, more deferential to the NBA. Instead of trying to strong arm their way into the league, their using their political, business, and social savvy to win the favor of the other owners. I may be overstating the importance of this aspect, but I don't think so-- if I'm the NBA, no matter how much I want a team back in Seattle, am I going to look more favorable on an underhanded, secret deal with non-refundable deposit between the Maloofs and the Seattle group, or the city that's been fighting tooth and nail to keep its team, doing everything right, with investors behind them that are willing to work WITH the NBA, not against it. I think the Seattle group lost some support with this move, completely unnecessarily. But perhaps it was the only way to get the Maloofs to agree to sell to them, because it meant instant cash in their pockets.
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Depends on perspective, it probably was necessary to lock the Maloofs in and to Seattle that had to be a factor. Their credibility isn't/wasn't at a all time high and they have been known to change the mind on occasion.
 
J

JB_kings

Starter
#38
#38
I plan on being at the State of the City event tomorrow. I'm pretty sure this will be as good as expected. I've trusted in KJ to deliver and I'm more confident than ever that he will. Before not too very long, there will be one unifying effort to save the Kings and build our dream. It's an exciting time!
 
Schmoe

Schmoe

G-League
#39
#39
Ryan said:
WOW. That was a short turnaround.

RL now saying "#NBAKings owner Joe Maloof tells Bee's @dakasler that Hansen made $30 million payment. Orlando report not true."
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So a Maloof said it happened? That confirms the Florida report. Those guys are liars.
 
P

pshn80

Starter
#40
#40
Isit possible that the effect of the $30 million payment is to reducr the amount Saceamento would have to bid to equal the Seattle bid? Seems that way to me. Anyone else think the same?
 
J

JB_kings

Starter
#41
#41
Section 101 said:
He's a bay area guy. He built the embassy suite in downtown sacramento. He owns a $3 mill home in granite bay. I used to see him playing JR tennis back in the early 90's. I doubt he has any desire to move the team.

But he does want the city's acreage next to the arena. There could be a binding agreement about the team staying for X years in order to get that property and have a repayment of X dollars to move the team after.
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Ha! I've hit a golf ball into his back yard.

Seems like a decent guy. But then again if you dig up the infamous George Maloof press conference of 4/13/2012, you just might see him sitting there offering his support to the Maloofs. Just saying.
 
macadocious

macadocious

Starter
#44
#44
JB_kings said:
Ha! I've hit a golf ball into his back yard.

Seems like a decent guy. But then again if you dig up the infamous George Maloof press conference of 4/13/2012, you just might see him sitting there offering his support to the Maloofs. Just saying.
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Heh, just googled him and it actually brought up his house. I live like 2 blocks from him. Had no idea.
 
J

JB_kings

Starter
#53
#53
Livinthedream said:
A little anti climatic since we know who the whales are. It will be a relief to get it out of the way. What I'm anticipating is the plans for dtp and surrounding development. Hope some of that gets leaked today.
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Maybe... maybe not. Might even be another name in there that you haven't even heard before.
 
whozit

whozit

Starter
#54
#54
JB_kings said:
Maybe... maybe not. Might even be another name in there that you haven't even heard before.
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Would be wonderful if it was Eli, if I remember the report correctly, he helped fund the Staples Center development in LA. A Times article linked him with Burkle in some other projects. The article also stated he was now more interested in his legacy now that he is up there in years than the money (ultra rich)
 
J

Jose

Bench
#55
#55
JB_kings said:
Ha! I've hit a golf ball into his back yard.

Seems like a decent guy. But then again if you dig up the infamous George Maloof press conference of 4/13/2012, you just might see him sitting there offering his support to the Maloofs. Just saying.
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This could seal his fate with Stern and the BOG. Especially Stern. Anyone who offered any kind of support to the Clowns killing the deal is going to be in Stern's sh*thouse for a long, long time.
 
uolj

uolj

Starter
#56
#56
UK_King said:
Does anyone think the reveal of the investors could lead the NBA to bring forward the BOG meeting?
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While the BOG meeting is a set date, technically they could make the vote on the sale/move earlier than that. But I don't see why the reveal of the investors would lead to that happening. Stern and the owners have known the mayor's plan for awhile, and it is with that knowledge that they decided to do the voting at the BOG meeting. Mayor Johnson is supposed to give his proposal for a Sacramento group to buy the team by March 1 (tomorrow), then at some point after that (I forget the timing) provide detailed information on the plan to finance and build the new arena. So this timing on announcing the investors publicly is expected and shouldn't change expectations on the flow of events.
 
M

Merdiesel

Starter
#59
#59
Kevin Johnson ‏@KJ_MayorJohnson , 59 mins ago

Tonight’s the night! Pumped for the State of the City. Sacramento has a bright future and I can’t wait to talk about it with all of you!
 
Schmoe

Schmoe

G-League
#60
#60
I really enjoyed the Cowbell Kingdom article today about Kehriotis and Dilution for the minority owners. It really shed some light on things I didn't know.
 
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