City council vote and latest news, rumors, etc.

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fansinceday1 said:
Thats also what ive read. $350 million net worth is nothing in NBA terms. I hope there is more to this.
Your right that if this is it the BOG will hold this against us. Why wouldn't they? They don't want another potential maloof situation.
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Well I don't think a person put his whole net worth into buying a team, so I'm not convinced he's only worth 350 mil. The other thing that people seemed to miss is that KJ referred to the "Mastrov team." So there are other investors. Mastrov is just the face and main equity partner.
 
I see no other choice but to put all my faith into KJ. I don't think he would put his faith in Mastrov if he was the only guy bidding on the kings. Mastrov has to have someone else behind him.

Grant Napier just said he's gonna assume that Burkle will be part of the investment group. He didn't elaborate any further.
 
Ken Berger ‏@KBergCBS
As mentioned in my piece, Burkle is taking lead on arena but also will have stake in team if Sacramento bid is successful.
 
Being reported Burkle will have a stake in the team.

Also, I personally doubt Mastrov/Burkle would have made it this far without being told exactly how much they should come up with by Stern. I'd assume KJ/Stern have talked at length about exactly how much a Sac bid would need to be and Martov/Burkle met that number.
 
Livinthedream said:
Well I don't think a person put his whole net worth into buying a team, so I'm not convinced he's only worth 350 mil. The other thing that people seemed to miss is that KJ referred to the "Mastrov team." So there are other investors. Mastrov is just the face and main equity partner.
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Exactly.

Kevin Johnson wouldn't be backing this deal if he wasn't convinced it was a winner. I'm pretty sure he's thoroughly vetted all concerned, if for no other reason than he's pretty much staked his entire political future on this succeeding.

Are there still questions? Oh yeah, but I'm willing to bet KJ has all the answers. This was as masterful a presentation tonight as I have ever seen.
 
with Burkle's billions behind this deal i don't see how the BOG can deny sacramento. It would be horrible horrible business if they did allow a move. Think of the bad press. If they thought Seattle getting screwed was bad how would the kings leaving stain the NBA?
 
sdballer said:
I'd heard he was worth 350 M which is obviously a ton of cash but not by owner standards and very little compared to the Seattle guys. As a fan, I think the plan looks amazing. As a business man, there is a big hole I'm concerned the BOG will fixate on
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News 10 had him at $1.8 billion.
 
KJ said that Mastrov will present his proposal to buy the Kings tomorrow to the NBA. What about Burkle presenting his proposal about the arena? I thought the NBA wanted a comprehensive proposal on both tomorrow. Yes? No?
 
Congrats everyone, its a wrap! Its not like Sacramento and seattle are both bidding over getting an expansion team. The two cities are bidding on the Kings and the Kings are ALREADY IN SACRAMENTO. Add this to the fact that there are multiple billionairs involved in buying the team and this thing is done and over.
 
Section 101 said:
People are missing the point. He never said Burkle wasn't going to be part owner of the Kings, but that could be due to buying AEG etc. It also removes the Maloofs from saying we won't sell to Burkle.
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You’re so perceptive. Your post is spot on. Many people here are bringing things up from left field. Let's let it play out. The big thing is KJ has done his due diligence and it looks good from my seat. Richmond being one of the 20 was sweet!
 
hrdboild said:
My question at this point would be how the revenue for games at the arena is going to be divided if Burkle is commiting the capital to build the arena but isn't a part of the ownership group for the Kings. But that's something for the relevant parties to discuss and agree on. I would guess that the arena deal KJ and the city planners previously negotiated with the NBA would be used as a model there for what's appropriate.
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Burkle is buying into the mall too and building the arena there. They will be doing other things around it too like more buildings, hotels etc.
 
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Chupacabra said:
Congrats everyone, its a wrap! Its not like Sacramento and seattle are both bidding over getting an expansion team. The two cities are bidding on the Kings and the Kings are ALREADY IN SACRAMENTO. Add this to the fact that there are multiple billionairs involved in buying the team and this thing is done and over.
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I try to guard against being overly optimistic, but I tend to agree here. I think that with both sides having wealthy bidders and arena plans, the pressure is on Seattle to convince the BOG that they should be allowed to take the team and move it. I'm not sure it matters about the binding agreement or what the Maloofs want. If the sales agreement or the Maloofs mattered, then this would have been over a long time ago and KJ wouldn't have been encouraged to put together this ownership team. If you add to the equation that Sac intends to have a term sheet for an arena by the BOG meeting, I think we're in the drivers seat.
 
Kingster said:
KJ said that Mastrov will present his proposal to buy the Kings tomorrow to the NBA. What about Burkle presenting his proposal about the arena? I thought the NBA wanted a comprehensive proposal on both tomorrow. Yes? No?
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The March 1 deadline was self-imposed by KJ. I'm guessing that the meeting Burkle had with Stern a while back was to address issues on the potential arena project. Since that part of the deal will require approval by the City Council, it won't be available. I'm also guessing that Mastrov will include a basic overview of the arena proposal, with details to follow before the BoG meeting in April.

Since Seattle doesn't have an ironclad arena deal in place either, I don't think this will be an insurmountable problem.
 
VF21 said:
The March 1 deadline was self-imposed by KJ. I'm guessing that the meeting Burkle had with Stern a while back was to address issues on the potential arena project. Since that part of the deal will require approval by the City Council, it won't be available. I'm also guessing that Mastrov will include a basic overview of the arena proposal, with details to follow before the BoG meeting in April.

Since Seattle doesn't have an ironclad arena deal in place either, I don't think this will be an insurmountable problem.
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Thanks for the info, VF21.
 
With the rocks presence it makes Webber's absence notable. Not condemning but any stretch but based on some of his words I am surprised he is not there.
 
Heuge said:
With the rocks presence it makes Webber's absence notable. Not condemning but any stretch but based on some of his words I am surprised he is not there.
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Just because Webb hasn't been publicly acknowledged I wouldn't jump to the conclusion that he's not involved. He may be somewhat precluded from an active public role because of his contractual obligations with TNT.
 
Kingster said:
KJ said that Mastrov will present his proposal to buy the Kings tomorrow to the NBA. What about Burkle presenting his proposal about the arena? I thought the NBA wanted a comprehensive proposal on both tomorrow. Yes? No?
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Don't know exactly, but didn't KJ say he'll be there too or did I screw that up? Presumably he's well clued in as to what the plans are as well as Burkle.
 
Livinthedream said:
I try to guard against being overly optimistic, but I tend to agree here. I think that with both sides having wealthy bidders and arena plans, the pressure is on Seattle to convince the BOG that they should be allowed to take the team and move it. I'm not sure it matters about the binding agreement or what the Maloofs want. If the sales agreement or the Maloofs mattered, then this would have been over a long time ago and KJ wouldn't have been encouraged to put together this ownership team. If you add to the equation that Sac intends to have a term sheet for an arena by the BOG meeting, I think we're in the drivers seat.
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What is the Hansen/Balmer group's next move? How do they convince the NBA to allow them to uproot an NBA franchise and move it to seattle, given these circumstances? The only reasoning that can be used to make the case for seattle is that they made their offer first. Its well documented that the Maloofs went around panhandling the team to every city not named Sacramento. The group of people that will make the ultimate decision on where the Kings will be located arent going to say to themselves," Well, Seattle made the bid for the team first and thats all that matters despite the fact that the owners never gave Sacramento a chance to make a bid." Not happening.
 
Just chiming in from New York, I want to say congrats to Sac-Town for a great offer and an even better mayor. You guys are lucky to have him leading the charge. I hope it all works out and that the Kings end up in Sacramento, where they belong.
 
Warhawk said:
Agreed. In general, I think he will announce the whales tonight.

He tends to under-promise and over-deliver, so i wonder if there may be others involved announced tonight? Maybe a Webber or other former player to be a minority owner? Maybe the basics of the arena plan to be proposed? Obviously all of this is just speculation on my part, but I kinda hope there is a little surprise to tonight as well as the expected.
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Right on all counts? ;)

Whales announced.
Former player as minority owner.
Arena location and basic division of proposed ownership/division of responsibility from whales.
$50 million bomb on local businesses kicking up for sponsorship.
WNBA return.

Under-promise and over-deliver. Just the way to play it.

And it was fun being there! Crown Downtown started all the "Sacramento" chants tonight. Had to bail before the group photo at the end to get home to family.
 
Brac-o-matic said:
According to Yahoo Sports:

"Mastrov and the local investors' bid is "slightly lower," than the $341 million that the Chris Hansen-Steve Ballmer group has agreed to pay for the available 65 percent of the Kings".

http://sports.yahoo.com/news/nba--s...bid-to-challenge-seattle-group-042956900.html

Hope the 'slightly lower' bid isn't a hindrance..
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Have not checked the link yet, but hopefully the slight lower bid is because we don't have to factor in relocation costs.
 
Brac-o-matic said:
According to Yahoo Sports:

"Mastrov and the local investors' bid is "slightly lower," than the $341 million that the Chris Hansen-Steve Ballmer group has agreed to pay for the available 65 percent of the Kings".

http://sports.yahoo.com/news/nba--s...bid-to-challenge-seattle-group-042956900.html

Hope the 'slightly lower' bid isn't a hindrance..
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Really hoping this comes in as close to the Seattle bid as possible. I've always thought one of the most compelling pieces (even if the league/owners are too polite to mention it) of a counter was how an equal offer for a less attractive market would be compelling for how it would impact market values moving forward. There are plenty of legitimate reasons why a sac offer should be less but I'd like to see them remove any easy answer for why they would go with the Seattle deal. Nothing easier than claiming they weren't going to force owners to accept a smaller offer, even if the math doesn't support it.
 
sdballer said:
I've always thought one of the most compelling pieces (even if the league/owners are too polite to mention it) of a counter was how an equal offer for a less attractive market would be compelling for how it would impact market values moving forward.
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That's actually very cute -- normally just the sort of devious little twist I think of myself. Hats off to you. Send it to the BOG. :)
 
One thing to consider is that if the Mastrov team bids something like $320 million for the Maloof/Heinrich 65% then the Maloofs still come out ahead if they get to keep the $30 million non-refundable payment that has been reported. I wouldn't assume that's what is meant by "lower" in that article, but it might factor in.

Also remember that the BOG isn't really looking at the size of the bid other than not wanting to start a precedent of forcing a team to be sold to a lower bidder. Their main concerns are regarding allowing a team to move when a viable option is available at their current location, and regarding rejecting a sale that is perfectly valid and good for the league in its own right. I think they have to weigh those two concerns if both offers are good ones.
 
Bricklayer said:
That's actually very cute -- normally just the sort of devious little twist I think of myself. Hats off to you. Send it to the BOG. :)
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Sadly, too many years sitting at negotiating tables trying to find all the angles. And these guys will look at it from every side that benefits their own financial realities. They will never focus the story around it but the opportunities and costs are all tied to how this all comes together.
 
If this was addressed somewhere else in the thread ignore it, but why again did KJ ask the audience to give an applause for the Maloofs?
 
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