I have a hunch that I agree with all of this.
I also concur. This would make the Maloofs the sole reason for failure in Seattle's attempted acquisition. Justice. Sweet Justice.
I have a hunch that I agree with all of this.
There you go again. Trying to be rational. I hope they have gone past that point that triggers the NBA to take over. Certainly the process in place will be allowed to run it's course by April 18 or so. After that, depending on the results and the Maloofs response to the results, the NBA might very well step in and put the Maloofs down and heal the pain of all of us fans. Let us hope.
Any truth to the Seattle media saying the Mastrov offer is extremely low?
I know I don't know all the behind the scenes details going on between the Maloofs and the NBA, therefore, I know I can't know for sure what forces are moving the Maloofs in regards to the NBA.
However, I do know that the Maloofs owe the NBA approx 100 meeeelllion dollars.
But I don't know how that loan was structured, and if it can be called in at any time by the NBA to force the Maloofs into what the NBA wants.
I don't know if that 100 meeeeelllion dollars needs to be paid off before a sale can happen, or, if the lien created by that loan gives the NBA more power to choose new owners.
I do know that you can't just steal a team and move it cause you're willing to pay more that some other douche.
I have a hunch that M/B would not be messing around with this if they were not essentially informed what kind of bid they needed to submit, and, therefore, perhaps even guaranteed that they would become the new owners (given arena deal comes together).
I also have a hunch that the NBA, and Stern were very clear with M/B and KJ about what needed to get done in order for the team to stay and transfer ownership, just as they were clear about what needed to be done to block the move to Anaheim.
I have a hunch that those at the high levels of this thing are being very clear with each other, and are NOT telling any media people.
This is the information I'm personally working with. Therefore, I am 100% certain the Kings will stay, and M/B will become the new owners.
Is anyone worried that all of the owners don't have all the facts and that all they'll see is that the Maloofs were trying to sell and that Seattle gave them the first offer and base their vote off of that?
I wish there was a way that KJ could speak to each owner individually and advise them what has been going on with the Maloofs over the past 5-7 years up until today. I know KJ will do his best to convince them but I just think there are a few owners that will vote yes soley based on giving Seattle back a team, and not take into account how slimy the Maloofs have been to the city of Sacramento.
If someone can post all the emails of the owners here that would be awesome. I wanted to make sure that we all get emails into them before times up.
Is anyone worried that all of the owners don't have all the facts and that all they'll see is that the Maloofs were trying to sell and that Seattle gave them the first offer and base their vote off of that?
I wish there was a way that KJ could speak to each owner individually and advise them what has been going on with the Maloofs over the past 5-7 years up until today. I know KJ will do his best to convince them but I just think there are a few owners that will vote yes soley based on giving Seattle back a team, and not take into account how slimy the Maloofs have been to the city of Sacramento.
If someone can post all the emails of the owners here that would be awesome. I wanted to make sure that we all get emails into them before times up.
Is anyone worried that all of the owners don't have all the facts and that all they'll see is that the Maloofs were trying to sell and that Seattle gave them the first offer and base their vote off of that?
I wish there was a way that KJ could speak to each owner individually and advise them what has been going on with the Maloofs over the past 5-7 years up until today. I know KJ will do his best to convince them but I just think there are a few owners that will vote yes soley based on giving Seattle back a team, and not take into account how slimy the Maloofs have been to the city of Sacramento.
If someone can post all the emails of the owners here that would be awesome. I wanted to make sure that we all get emails into them before times up.
Is anyone worried that all of the owners don't have all the facts and that all they'll see is that the Maloofs were trying to sell and that Seattle gave them the first offer and base their vote off of that?
I wish there was a way that KJ could speak to each owner individually and advise them what has been going on with the Maloofs over the past 5-7 years up until today. I know KJ will do his best to convince them but I just think there are a few owners that will vote yes soley based on giving Seattle back a team, and not take into account how slimy the Maloofs have been to the city of Sacramento.
If someone can post all the emails of the owners here that would be awesome. I wanted to make sure that we all get emails into them before times up.
Any truth to the Seattle media saying the Mastrov offer is extremely low?
Hansens BID:
525m (EV) = 309m (MVE) + 216m (Debt) - cash(This is a non-factor in both bids)
The above 216m is assuming 140m debt to nba and 76m to Sacramento
Mastrov/Burkle BID:
450m (EV) = 310m (MVE) + 140m (Debt) - cash(This is a non-factor in both bids)
The above 140m is assuming the debt to NBA
As we can see above, Both bids are pretty much the same since the owners of the NBA teams willl ONLY look at the MVE of the team and not the whole EV of the team since the debt doesn't help them at all.
The loan to the city doesn't go away with the Mastrov purchase... So accoring to your numbers Mastrov would really be bidding $517 (310m MVE + 140M NBA debt + 67M city loan, which he would assume so there's no prepayment penalty).
Mastrov wouldn't have to fork over 76m right away like Hansen would. I am assuming that's why Hansens bid is ~75m higher as rumored to be. This is just my guess.
But technically it is part of the cost, as he would be assuming the debt. Hansen doesn't have to fork over $140M to pay the debt to the NBA. But that number is included in the team's valuation. So is the $76M to the city. The city loan also needs to be included in the valuation for the Mastrov bid. Even if he is assuming the loan. So the only difference between the two is really the prepayment penalty associated with the city loan.
The real question is how does the BOG views the debt? I may be wrong but the way I understand the loans are structured is that the NBA would be paid off first, then Sacramento. (I would have to dig but I believe I read it here when the NBA was offering league loans.) Is this done prior to changing hands or through an escrow? When is the NBA loan called in and can it be assumed?
So many questions.
I think people need to let go of the notion that the Maloofs might try to hang on to the team if relocation is denied. Quite frankly I think they are emotionally detached from the team at this point. In their mind they are selling and the primary (and probably sole) motivation is money, not spite. As long as they get the same amount of money either way I can't see them caring. The Thomas Robinson trade was simply about cushioning the financial loss they are apparently going to suffer this season. As much as Joe and Gavin may truly want to keep the Kings they clearly signed off on selling and have made their peace with it. If the BOG says no to Seattle then they'll grab the Sacramento deal and exit stage left, no doubt in my mind.
Besides, in the absolutely unlikely scenario that they don't want to sell to Mastrov/Burkle if the Hansen/Ballmer deal is rejected the NBA would simply step in. This circus has gone on long enough. The endgame would be the "best interest of the league" clause and the fact that Maloofs signed an agreement for a certain amount of money. If need be the NBA ponies up that money itself and sends George and company on their way.
But believe me, that's never going to happen. As much as we might all hate the Maloofs now, they simply want to sell their team at this point and they will, to one group or the other.
On the Sonics Rising board people are talking about the team as if they are fans. I hope they stay fans after the team stays in Sacramento![]()
It will be nice to have Sacramento Kings fans all the way up to the Canadian border.
Sadly though, they are not getting the Kings. They just don't understand that yet.
Gary, I'm loving this new attitude of yours. Awesome.
On the Sonics Rising board people are talking about the team as if they are fans. I hope they stay fans after the team stays in Sacramento![]()
It will be nice to have Sacramento Kings fans all the way up to the Canadian border.
Sadly though, they are not getting the Kings. They just don't understand that yet.
1. The BOG has already said they do not like to move teams, but they will move a team IF
a) There is ongoing issues getting an arena (which Sacramento will already have an arena deal in place and has already been signed off by the NBA)
b) There is no fan support (We don't even need to talk about Sacramento and Kings support do we?)
We have been through this all before with the potential move to Anaheim, and to a lesser extent Las Vegas and Virginia Beach. We are the victims of a-hole owners who tried to do everything to sabotage the team in order to get approved for a move.
Bottom line is that the Kings aren't going to move. There is NO reason to move the team to Seattle when we have an arena ready to be built, and fan support. Sonic fans will say "Well they sold the team to Ballchinboy wahhhhhh and he can do what he wants".... Uhhh.. WRONG! Don't you think if this was the case that teams would be moving all over the place whenever they were sold? Sorry, doesn't happen.
Look at the Warriors for example..
Remember Ellison got all pissy because he bid more than Guber and that he wanted to move the team to San Jose after he bought the Warriors? What happened there? Oh yah, The NBA approved the sale to Guber and the Warriors are in Oakland.
Anyway, bunch of random thoughts for the night after reading up on Sonics Rising. It's funny how confident they are. They are about to fall big time and they don't even realize it. Idiots.
This is certainly interesting especially in conjunction with the interview of Vlade posted elsewhere. The Bee is splattered with Kings related articles today.
Mitch Richmond, a retired Sacramento Kings legend, walked into a midtown bar Thursday to greet a few dozen fans and sign autographs. His goal: to rally fans in the ongoing effort to keep the Kings in Sacramento.
It was a carefully choreographed event, with Richmond escorted into a packed Firestone Public House by two members of the task force leading Mayor Kevin Johnson's public campaign to hold on to the team. Many of the people waiting to meet Richmond were part of Crown Downtown, an organized fan group that has taken to attending City Council meetings and holding rallies at City Hall.
Read more here: http://www.sacbee.com/2013/03/08/5245999/pr-effort-to-save-kings-ratchets.html#storylink=cpy
I am sure it was mentioned before but it takes a 3/4 approval of the BOG to sell a team and simply a majority to move a team. That means to block the sale to Hansen/Ballmer, the Kings need 8 votes. As four NBA owners also are involved in hockey, they already know and respect Burkle. My mind tends to get a bit busy when presented with info like this as the possibilities begin to seem endless.
We have at a minimum 3 NBA stars who owe their career to their time in Sacramento and they are Mitch Richmond, Vlade Divac, and Chris Webber. I leave out Bobby J, Jim Les, etc. only because the three's numbers have been retired and are hanging from the arena. These three guys will have no jersey hanging in any arena if the Kings are sold. Most certainly, Vlade and Chris are in a unique position to tout the team staying in Sacramento. I do not know how the presentation to the BOG works but wouldn't it be interesting if KJ were flanked by Chris and Vlade? I'll leave it at that.
The PR effort is a big time move and even though Seattle supposedly is doing the same thing, they do not have the long time experience of trying to lobby someone, anyone on the idea the Kings stay in Sacramento.
It is interesting to note that Mitch wants a FO job with the Kings. Seems like the great ones are voicing their support if not wanting to come home to roost. That has a huge PR impact. It has to.
Isn't it fun to be part of something unique like being known as a Sacramento Kings fan?
I hope you are right. I was a little greedy/unhappy with the Richmond involvement. I kept thinking, if Richmond was involved financially why not Vlade and Webber? Maybe their business interests don't allow for that type of financial investment (conflict of interest), but it sure would be nice if they were at the BOG to support the effort. And I'd like to see others like Peja and Christie there as well. The more the better. It should be like a freaking Kings reunion at the BOG.
I hope you are right. I was a little greedy/unhappy with the Richmond involvement. I kept thinking, if Richmond was involved financially why not Vlade and Webber? Maybe their business interests don't allow for that type of financial investment (conflict of interest), but it sure would be nice if they were at the BOG to support the effort. And I'd like to see others like Peja and Christie there as well. The more the better. It should be like a freaking Kings reunion at the BOG.
I have no idea, but does chipping in financially preclude them from being employed elsewhere in the nba as far as coaching, front office etc.