Deal announced - latest rumors, etc.
- Thread starter Mojo
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The BOG has the right to turn down the deal and the FACT that the Maloofs did not even negotiate with an owner who would keep the team in Sacramento shows their bad faith. Money is money. If it is sold to Hansen they make the same as if it was sold to a local group. They are nasty bastards. Do you reward people like that when you have the final say? We'll see.
Off of NBA.com
"A person familiar with the decision said that Hansen's group will buy 65 percent of the franchise, which is valued at a total price of $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million. The Maloofs will have no stake in the team."
Ok so it looks like they are paying the Maloofs in the neighborhood of 340 million. If anything I suppose thats a much better price to match but they are still ridiculously over inflating the value of the franchise.
"A person familiar with the decision said that Hansen's group will buy 65 percent of the franchise, which is valued at a total price of $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million. The Maloofs will have no stake in the team."
Ok so it looks like they are paying the Maloofs in the neighborhood of 340 million. If anything I suppose thats a much better price to match but they are still ridiculously over inflating the value of the franchise.
The BoG has to vote on the sale. Hansen's deal can be rejected by the BoG. If Sacramento comes up with another offer, then the BoG will look at both offers. In this case they will also be reviewing the relocation request. In the end, the Bog will decide which offer to say yes to and that will also include a decision on relocation, obviously.
So nothing is done until the BoG votes, period. People can say whatever they want in the media and on sports websites, but nothing is absolutely certain, until the BoG votes. I sincerely doubt we'll know the answer at the April BoG meeting, because the league has to have all the information and then analyze all of that information, before making a decision.
So right now, people are just laying odds on the BoG's decision. And I would not bet against KJ or the City of Sacramento. KJ's certainly been ready for this scenario for some time now. You can bet he's had a tentative plan ready to go for some time. Now the details are being put together. I do believe KJ just might get the buzzer beater.
So nothing is done until the BoG votes, period. People can say whatever they want in the media and on sports websites, but nothing is absolutely certain, until the BoG votes. I sincerely doubt we'll know the answer at the April BoG meeting, because the league has to have all the information and then analyze all of that information, before making a decision.
So right now, people are just laying odds on the BoG's decision. And I would not bet against KJ or the City of Sacramento. KJ's certainly been ready for this scenario for some time now. You can bet he's had a tentative plan ready to go for some time. Now the details are being put together. I do believe KJ just might get the buzzer beater.
Not exactly, but they can not allow a sale to take place to a certain group. Just because someone has a higher offer does NOT mean it gets to own the team. What if a drug cartel wanted to own the team and just plunked down a $600 million offer to MSE (with verified cash in the bank) for the hell of it. You think the BOG would look at that and just allow a drug cartel to own a team?
Extreme example, but the BOG can refuse ANY offer if they don't think it is in the best interest of the league. That would essentially force the owners to look to someone else to buy the team.
Extreme example, but the BOG can refuse ANY offer if they don't think it is in the best interest of the league. That would essentially force the owners to look to someone else to buy the team.
The NBA can approve or disapprove any potential ownership group. In short, the Maloof family, or any owner for that matter, doesn't have full authority over to whom the franchise is sold.
In comparison to this situation, look no further than the SF Giants in 1992. They were sold to a group that intended to move the franchise to St. Petersburg, FL. However, a local ownership group emerged at the last minute and the MLB approved sale to them over the Florida group. While that involved a different pro league, the principal is still the same. The NBA is made up franchises controlled by the NBA. They ultimately have authority over who owns their franchises and where they are located.
In this case, they can cite "best interest of the league" as their reasoning for accepting a local ownership group over the group the Maloof family selected. As long as the Maloof family's bottom line isn't affected (they get the same money or more in the approved transaction), they don't have a leg to stand on in regards to a lawsuit over negating the deal with the Seattle group in favor of a local group.
As has been said many times, it really comes down to 2 things:
In comparison to this situation, look no further than the SF Giants in 1992. They were sold to a group that intended to move the franchise to St. Petersburg, FL. However, a local ownership group emerged at the last minute and the MLB approved sale to them over the Florida group. While that involved a different pro league, the principal is still the same. The NBA is made up franchises controlled by the NBA. They ultimately have authority over who owns their franchises and where they are located.
In this case, they can cite "best interest of the league" as their reasoning for accepting a local ownership group over the group the Maloof family selected. As long as the Maloof family's bottom line isn't affected (they get the same money or more in the approved transaction), they don't have a leg to stand on in regards to a lawsuit over negating the deal with the Seattle group in favor of a local group.
As has been said many times, it really comes down to 2 things:
- Is there a viable group (meeting the NBA's ownership guidelines) that is willing to match the current offer AND keep the Kings in Sacramento AND agree to the terms of the downtown arena deal the NBA negotiated with the city of Sacramento (or provide a viable alternative arena deal).
- Contingent upon #1, is the NBA really in Sacramento's corner and do they want to avoid the PR blackeye of moving a franchise from a city that has bent over backwards in order to keep it and has a proven track record of long term support??
Did the Maloof cockroaches give Sacramento enough time to find local buyers?
This is the question that is haunting me. Usually before teams are sold to outside interests, the current owners in good faith actually spend a period of time proactively looking for local buyers to sell the team to. Worst case scenario they at least give the community a heads up as to their plans to sell the team so local buyers can step forth. Unfortunately, it doesn't look like our community was given the heads up at all to come up with local investors, and these guys (Maloofs) went straight from talking to Virginia Beach about relocating there to selling the team to outside interests. I'm trying to find a shred of decency to the MAloofs about this, so I don't have to despise them. How were they so sure that a local investor could not have matched Hansen's offer without there being rumors of the team being up for sale more than a week or two?
This is the question that is haunting me. Usually before teams are sold to outside interests, the current owners in good faith actually spend a period of time proactively looking for local buyers to sell the team to. Worst case scenario they at least give the community a heads up as to their plans to sell the team so local buyers can step forth. Unfortunately, it doesn't look like our community was given the heads up at all to come up with local investors, and these guys (Maloofs) went straight from talking to Virginia Beach about relocating there to selling the team to outside interests. I'm trying to find a shred of decency to the MAloofs about this, so I don't have to despise them. How were they so sure that a local investor could not have matched Hansen's offer without there being rumors of the team being up for sale more than a week or two?
It will be a lot easier to add a new team to the league if that team was to be Seattle rather than Sacramento. With all this lead time the deciders, the Committee and the BOG, have time to be deliberate. Will the winner be jilted former franchise site, current site threatened with a jilt, or terms and conditions of contracts?
KJ knew this would likely be the end game. You're selling him short if you really think he hasn't been in contact with potentially interested local buyers for some time now. We know he's never been out of touch with Burkle, for one.
Now they know the price. Its just a matter of putting together an offer that matches the Seattle offer, paired with a new arena deal. They could even offer a little more. The difficulty will be in establishing that the Sacramento as an NBA market is just as good for the league. There are some positives on Sacramento's side, like only one pro-sports team in town and a proven record of support for the NBA. That's what the owners will want to know.
By the way, stop looking. The Maloofs don't have a scintilla of decency, let alone a whole shred.
Now they know the price. Its just a matter of putting together an offer that matches the Seattle offer, paired with a new arena deal. They could even offer a little more. The difficulty will be in establishing that the Sacramento as an NBA market is just as good for the league. There are some positives on Sacramento's side, like only one pro-sports team in town and a proven record of support for the NBA. That's what the owners will want to know.
By the way, stop looking. The Maloofs don't have a scintilla of decency, let alone a whole shred.
This brings-up an interesting question. Let's say KJ finds an offer to match the Seattle offer. The NBA BOG goes to the Maloofs and says "look, each deal means equal money in your pocket. We prefer that you sell to the Sacramento group. The city and it's fans have been good for the league and they have been good to you."
In this scenerio, do the Maloofs agree and sell to the Sacramento group or do they put up a fight and go against the wishes of the BOG out of spite?
Honestly, I don't think that they are that spiteful. But then again, what the heck do I know.
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Given the league's desire to halt the long-running saga caused by the Kings' uncertain future in Sacramento, as well as its hope of seeing NBA basketball return to Seattle before Stern's scheduled exit from the league office in February 2014, approval of the move by the NBA relocation committee is widely considered a formality.
Per Marc Stein ESPN.com
http://espn.go.com/nba/story/_/id/8864092/kings-owners-reach-agreement-seattle-group-sources-say
Adrian Wojnarowski says in Yahoo.com
The NBA's Board of Governors support this ownership group, want a team back in the Seattle market and will approve the sale at the next league meeting, sources said.
http://sports.yahoo.com/news/nba--sources--kings-to-play-in-seattle-next-season-060233410.html
These type of comments bother me most - wish I knew what sources say the relocation comm and BOG seem to have made up their minds already regardless of what KJ comes up with?
Then you have the 30 Mil deposit and all this talk of Phil Jackson , Larry Bird? as part of front office?
(tons of rumors already at hoopshype.com) not gonna link them all
I am worried all of this talk could put a damper on KJ's momentum with his group
Are KJ's Big money people really gonna put in extensive Time and dollars into a possible offer that really can work if they think that NBA is gonna
politely listen to KJ then go ahead and vote for seattle anyway?
hopefully KJ's "Whale" is gonna be real busy Talking to NBA, BoG owners directly and hopefully get some re-assurance that if a deal is put together that NBA will really consider killing Seattle deal and getting their offer approved.
Per Marc Stein ESPN.com
http://espn.go.com/nba/story/_/id/8864092/kings-owners-reach-agreement-seattle-group-sources-say
Adrian Wojnarowski says in Yahoo.com
The NBA's Board of Governors support this ownership group, want a team back in the Seattle market and will approve the sale at the next league meeting, sources said.
http://sports.yahoo.com/news/nba--sources--kings-to-play-in-seattle-next-season-060233410.html
These type of comments bother me most - wish I knew what sources say the relocation comm and BOG seem to have made up their minds already regardless of what KJ comes up with?
Then you have the 30 Mil deposit and all this talk of Phil Jackson , Larry Bird? as part of front office?
(tons of rumors already at hoopshype.com) not gonna link them all
I am worried all of this talk could put a damper on KJ's momentum with his group
Are KJ's Big money people really gonna put in extensive Time and dollars into a possible offer that really can work if they think that NBA is gonna
politely listen to KJ then go ahead and vote for seattle anyway?
hopefully KJ's "Whale" is gonna be real busy Talking to NBA, BoG owners directly and hopefully get some re-assurance that if a deal is put together that NBA will really consider killing Seattle deal and getting their offer approved.
This is where they have to take "Sonicsgate" into consideration, ...assuming the "whale" materializes soon. Righting a wrong by wronging a franchise known for having one of the best fan bases in the league, a franchise that has done nothing to deserve losing their team, could be a horrific PR move for them. Hopefully they learned from their mistakes, and will give Seattle an expansion franchise to avoid PR disaster.
David Aldridge had some interesting things to say on NBATV.
said once eveything is signed off, its in the hands of the BOG
he said Sacramento does have a chance, but owners dont like to tell other owners no to a sale, so he doesnt think they will say no to the Hansen sale
he also said, the Hansen deal is not contingent on the team being moved to Seattle, so it is convievable that he could own the team in Sacramento and have a new arena built in Sacramento, if the BOG says no you cant move the team out of Sacramento.
said once eveything is signed off, its in the hands of the BOG
he said Sacramento does have a chance, but owners dont like to tell other owners no to a sale, so he doesnt think they will say no to the Hansen sale
he also said, the Hansen deal is not contingent on the team being moved to Seattle, so it is convievable that he could own the team in Sacramento and have a new arena built in Sacramento, if the BOG says no you cant move the team out of Sacramento.
If BOG approves the Sale to Hansen but refuses to allow him to move the team?
A. Hansen would back out of the deal and give up the 30 mil to maloofs ?
B. Hansen would own the team and after refusing to build an arena in sacto would loose so much money
would apply next year to move and be approved
Nope I dont see that at all!!! Would be A.
NBA will either approve deal and move or they wont
Nope Hansen will never be our Sacramento whale - count on it
A. Hansen would back out of the deal and give up the 30 mil to maloofs ?
B. Hansen would own the team and after refusing to build an arena in sacto would loose so much money
would apply next year to move and be approved
Nope I dont see that at all!!! Would be A.
NBA will either approve deal and move or they wont
Nope Hansen will never be our Sacramento whale - count on it
Can the Hansen group match? They submitted their offer to the league. Signed and binding as it's been reported, with a $30 mil nonrefundable deposit. Shouldn't that be it? Sac gets the last shot at besting the deal. If the Maloofs wanted a bidding war, they wouldn't have signed the deal. That $30 mil ended the negotiations as I see it. Am I seeing this wrong?
So why would anyone sign a binding agreement if the league can just approve a better (by even a few million) deal down the road. I have to believe that in the unlikely event that kj finds a better offer and the even less likely deal that the league votes down the Hansen proposal that it will open the offer back up to Hansen. If not, the maloofs could rightly claim that the league prevented them from getting more money from a willing buyer. Can't see the league taking that risk.
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