David Stern and Kevin Johnson continue communication

[rainmaker]

The head shake is still there. The disbelief has yet to fade. Weeks have passed since the arena deal fell apart and Sacramento Mayor Kevin Johnson still has a hard time comprehending how the whole thing collapsed.

“This is still just mind boggling.”

Johnson and Sacramento Kings fans are not alone. In a one-on-one interview with the former NBA star, it appears the league’s commissioner is just as befuddled.

“As ticked off as the community and I are, David Stern is not one to take lightly what happened,” Johnson added from the mayor’s private conference room on the fifth floor of city hall. “(Stern) is very disappointed and disheartened.”


The two speak almost weekly regarding the latest arena developments. Johnson said he gives Stern developments on building a new complex, but admits that the Maloofs “hold all the cards.”

The Kings owners have mostly kept quiet about their intentions moving forward since balking over the $391 million project in which they would’ve contributed a $73 million portion. George, Joe and Gavin have maintained they do not want to sell the team and privately, they even turned down offers that came in higher than the franchise’s worth, which according to Forbes Magazine stands close to $300 million.

“I have brought a buyer to them, and would like to keep bringing another one to them until they eventually say ‘yes’,” Johnson said.

The Sacramento native has maintained the city is working to get a new building without the Kings owners, but constructing a new downtown arena will be nearly impossible minus the NBA.

Until there is an ownership change, Stern and Johnson will be left to head shaking and weekly chats of what could have been.

http://www.cowbellkingdom.com/2012/...nicating-in-wake-of-deal-collapse/#more-12842

The part in bold in confirmation we have not heard yet, that KJ and probably Stern behind the scenes, are working to find a deal to sell the team the Maloofs will accept. It's been quite, but I'd think we'll hear more after the finals about this.

This is good news in my mind, that offers have been presented which are above the market value for the team, and KJ appears to have more, presumably better offers lined up.

 

[Section 101]

The only explination is they have used the Kings as collateral on something that was not allowed. They expected the value to be higher by now and it has dropped. Selling the Kings would call in the loan that they cant pay.

 

[Glenn]

The only explination is they have used the Kings as collateral on something that was not allowed. They expected the value to be higher by now and it has dropped. Selling the Kings would call in the loan that they cant pay.

The Maloofs must need a certain amount of money above the market value of the team. Who knows what. If they expect to sell the team above market value and the alternative is that they run the team into the ground, they are disgusting. Nothing new there, I guess. It's a very childlike attitude. Perhaps they think if they are obnoxious enough, the NBA will kick in the extra amount they need. I wonder why these perspective buyers don't buy out the minority owners and buy a few more percentage from the Maloofs to take controlling interest? Monetarily this should mean next to nothing to the Maloofs.

They must want controlling interest very badly. I guess the problem is that a multi-billionaire would want to buy out all the partners to run the team the way he/she wants. Meanwhile the minority partners own 48% and go down the tubes with the Maloofs. The Maloofs are hurting far more than just themselves.

BTW, have they posted any full page ads to offer condolences for Benvenutti's passing?

 

[VF21]

I suspect the Maloofs may have been waiting to see if the team got the #1 pick. Having a lock on Anthony Davis would have undoubtedly brought up the market value. I still have the firm belief that they will eventually be made an offer they just cannot refuse. I'm just praying it's sooner rather than later.

 

[BMiller52]

I suspect the Maloofs may have been waiting to see if the team got the #1 pick. Having a lock on Anthony Davis would have undoubtedly brought up the market value. I still have the firm belief that they will eventually be made an offer they just cannot refuse. I'm just praying it's sooner rather than later.

Agreed. I hope we get a new owner ASAP, but it sounds like it might take a while. Atleast we have hope though.

 

[Kingsfan23]

They are disgusting, and they do hold all the cards, a nauseating combo for the fan of this franchise.

The problem is I don't see what is forcing their hands to sell? With the new agreement/revenue sharing, they can basically not lose money if they don't want to if I'm not mistaken.

Aside from dealing with a fanbase that disdains them (which theyve proven they dont care about), they can wait for the perfect situation to relocate, or play in an arena where they dont have to put up suitable funds.

The more I think about this situation, the more distasteful the current NBA structure becomes, allowing owners to get out of hand like this

 

[Livinthedream]

The good news about this is that I don't think KJ and Stern have time to waste. So if they're still communicating about he Kings and the sale of the team, there must be a good reason. KJ and Stern are working towards something. Whether it pans out in the end, we will see. But I don't think they are just hoping at this point.

 

[Krunker]

They are disgusting, and they do hold all the cards, a nauseating combo for the fan of this franchise.

The problem is I don't see what is forcing their hands to sell? With the new agreement/revenue sharing, they can basically not lose money if they don't want to if I'm not mistaken.

Aside from dealing with a fanbase that disdains them (which theyve proven they dont care about), they can wait for the perfect situation to relocate, or play in an arena where they dont have to put up suitable funds.

The more I think about this situation, the more distasteful the current NBA structure becomes, allowing owners to get out of hand like this

Stern did make a veiled threat a while back that the owners could vote to change the revenue sharing agreement if it is abused.

 

[kennadog]

George, Joe and Gavin have maintained they do not want to sell the team and privately, they even turned down offers that came in higher than the franchise’s worth, which according to Forbes Magazine stands close to $300 million.

I am not sure to what depths my loathing can go.

 

[Section 101]

The Maloofs must need a certain amount of money above the market value of the team. Who knows what. If they expect to sell the team above market value and the alternative is that they run the team into the ground, they are disgusting. Nothing new there, I guess. It's a very childlike attitude. Perhaps they think if they are obnoxious enough, the NBA will kick in the extra amount they need. I wonder why these perspective buyers don't buy out the minority owners and buy a few more percentage from the Maloofs to take controlling interest? Monetarily this should mean next to nothing to the Maloofs.

They must want controlling interest very badly. I guess the problem is that a multi-billionaire would want to buy out all the partners to run the team the way he/she wants. Meanwhile the minority partners own 48% and go down the tubes with the Maloofs. The Maloofs are hurting far more than just themselves.

BTW, have they posted any full page ads to offer condolences for Benvenutti's passing?

I think the Maloofs may have some control over who can have the minority shares. This is why Cook bought them on the downlow. The Maloofs may have the right to buy them first or something.

 

[Glenn]

I think the Maloofs may have some control over who can have the minority shares. This is why Cook bought them on the downlow. The Maloofs may have the right to buy them first or something.

Could be. Partnership agreements can be written in any way that is agreable to all. The most extreme agreement, not applicable here, is that the managing partner invests no money but is paid a salary. Kind of makes you wonder if the Maloofs 52% is written as "any member of the Maloof family" or what. Adrienne was annnounced as being an owner of the Maloofs. If I wwere a minority owner, I wouldn't give up my right to sell but these guys seem locked in. It's like a dictatorship with all the bad aspects of it coming together in one organization.

 

[ParniValjak]

I don't think anything would make me happier when it comes to Kings is to see the end of Maloofs' reign as the owners of the team.

I am not sure how Stern and KJ do it but I firmly believe that you don't stab Stern in the back and get away with it. It might take time but it will happen. I just hope the team does not get decimated by their shallow pockets.

Hopefully we get something more concrete once the play-offs are over as I don't see NBA getting into an ugly battle while the play-offs are on. It takes a while to finalise the sale of the team but I am willing to put up with another ****ty season provided that the end result is new ownership and a #1 pick of course

 

[Circa_1985_Fan]

I don't think anything would make me happier when it comes to Kings is to see the end of Maloofs' reign as the owners of the team.

I am not sure how Stern and KJ do it but I firmly believe that you don't stab Stern in the back and get away with it. It might take time but it will happen. I just hope the team does not get decimated by their shallow pockets.

Hopefully we get something more concrete once the play-offs are over as I don't see NBA getting into an ugly battle while the play-offs are on. It takes a while to finalise the sale of the team but I am willing to put up with another ****ty season provided that the end result is new ownership and a #1 pick of course

The more the Maloofs field a team on the cheap that sucks is more fodder for the 'they're broke' cannon, and I'm sure Stern cares for that about as much as he does being stabbed in the back by those same greedy/broke owners. Me thinks we'll hear more about this whole situation from Stern after.the playoffs.

 

[ParniValjak]

The more the Maloofs field a team on the cheap that sucks is more fodder for the 'they're broke' cannon, and I'm sure Stern cares for that about as much as he does being stabbed in the back by those same greedy/broke owners. Me thinks we'll hear more about this whole situation from Stern after.the playoffs.

I tend to agree with this. Stern is not going to rock the boat while the playoffs are in progress. Once the games are done and dusted, I suspect there will be more action from Stern and the NBA to put more pressure on the Maloofs to the point where they crumble under pressure.

I just hope that by the start of the season, the Sacramento Kings are taken over by the NBA and by the all-star break or play offs next year, we have a new owner / ownership group which is committed to staying in Sacramento in a new arena and putting a contender on the floor.

 

[Circa_1985_Fan]

I tend to agree with this. Stern is not going to rock the boat while the playoffs are in progress. Once the games are done and dusted, I suspect there will be more action from Stern and the NBA to put more pressure on the Maloofs to the point where they crumble under pressure.

I just hope that by the start of the season, the Sacramento Kings are taken over by the NBA and by the all-star break or play offs next year, we have a new owner / ownership group which is committed to staying in Sacramento in a new arena and putting a contender on the floor.