Deal announced - latest rumors, etc.
- Thread starter Mojo
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Yeah, you're right. It is a bit odd.
Thinking ahead a bit, IF this current deal is matched by a local ownership group and approved by the BOG's, will the Maloofs still want to retain the small bit of ownership the Seattle group has given them? I highly doubt they would want to show up courtside at a new Arena here in town. How completely inappropriate and out-of-place would that be??
Thinking ahead a bit, IF this current deal is matched by a local ownership group and approved by the BOG's, will the Maloofs still want to retain the small bit of ownership the Seattle group has given them? I highly doubt they would want to show up courtside at a new Arena here in town. How completely inappropriate and out-of-place would that be??
A lot of you really need to calm down and stop the fear from running down your leg.
This isn't over by any means. As others have stated, it is hard for a local team to negotiate with MSE when their door is shut to negotiations. But, the dirty little secret that Seattle is trying to gloss over with it's strongly-worded press release is that it is no longer up to Seattle or MSE. It is up to the NBA - you know, the ones who "convinced" MSE not to move to Anaheim when they wanted to and negotiated the arena deal here in Sacramento that MSE shot down in glorious flames to the distress of Stern and the NBA.
Chill out and let the process move forward. This isn't a sprint to be won this week. It will be decided in a couple months time and no press release from Seattle is going to change that.
The deal submitted is like an opening salvo with terms and a price to sell something, terms and a price that can no longer be negotiated by MSE. Except now we have a chance to meet those and keep the team.
So, everyone take a deep breath, follow Crown Downtown in our efforts to get a new arena constructed (we will be going to the Sacramento City Council again, etc. - so get your a**es down there and be heard!), pledge at HereWeBuy if you can, show support for KJ, and have some faith. KJ is assembling a team (that should be revealed soon) to present a counter-offer to keep the team.
The hard part has been to get MSE to agree to sell the team! We are now at the point where MSE is irrelevant and lacks any control over the outcome. Quit crying about a lack of information at this point because things are still developing and we will hopefully soon know the details of how to match the deal that was just submitted to the NBA.
This isn't over by any means. As others have stated, it is hard for a local team to negotiate with MSE when their door is shut to negotiations. But, the dirty little secret that Seattle is trying to gloss over with it's strongly-worded press release is that it is no longer up to Seattle or MSE. It is up to the NBA - you know, the ones who "convinced" MSE not to move to Anaheim when they wanted to and negotiated the arena deal here in Sacramento that MSE shot down in glorious flames to the distress of Stern and the NBA.
Chill out and let the process move forward. This isn't a sprint to be won this week. It will be decided in a couple months time and no press release from Seattle is going to change that.
The deal submitted is like an opening salvo with terms and a price to sell something, terms and a price that can no longer be negotiated by MSE. Except now we have a chance to meet those and keep the team.
So, everyone take a deep breath, follow Crown Downtown in our efforts to get a new arena constructed (we will be going to the Sacramento City Council again, etc. - so get your a**es down there and be heard!), pledge at HereWeBuy if you can, show support for KJ, and have some faith. KJ is assembling a team (that should be revealed soon) to present a counter-offer to keep the team.
The hard part has been to get MSE to agree to sell the team! We are now at the point where MSE is irrelevant and lacks any control over the outcome. Quit crying about a lack of information at this point because things are still developing and we will hopefully soon know the details of how to match the deal that was just submitted to the NBA.
This may have been necessary due the emerging reality that once they start a sale toe Seattle there is no longer an option to keep the team and if they can't move the team they will pretty much have to sell to someone who will keep the team local. Given the debt load the Maloofs carry on their 53% I think they needed assurances that they would come away with something.
now HERE is an interesting development. the minority owners have the right to refuse the sale and come up with the money themselves.....
http://aroyalpain.com/2013/01/21/might-sacramento-kings-minority-owners-be-the-roadblock-to-seattle/
http://aroyalpain.com/2013/01/21/might-sacramento-kings-minority-owners-be-the-roadblock-to-seattle/
Rarely post and have lurked for the better part of the last 12 years but yes yes yes. This ^ exactly. Seattle has not won anything yet and the real battle is going to begin in April. Rejoice the Maloofs are gone!!! Let that sink in for a moment and breathe the free air fellow Kings fans. The only question i'm focused on is can KJ come up with a competitive offer and get the arena package done in time for the B.O.G. meeting? If yes my belief is that this is game over and we all get what we've dreamed of for years. The Kings free of the Maloofs and new owners able to put competitive teams on the floor that is OURS with a new arena in the works. With the Maloofs this outcome is the only way we as Sacramentans and the rest of you around the globe were going to get our team back from these hijackers. I believer in Mayor KJ, I believe the Maloofs spit in the face of the NBA and the city of Sacramento and this is something that won't will not go unnoticed and I believe we will come out victorious.
Yeah, I didn't think that was correct. I also think its the longest of long shots to keep the team. I haven't lived in sacramento for over 15 years and this still really sucks. I'm glad some people are still optimistic and I do think there is still a chance. It just is extremely unlikely and a lot of the hope is based on shaky logic
Well, it seems like it would open a HUGE can of worms if the Maloofs decided to just sell the shares without honoring the right of first refusal. Are the Maloofs that dumb? Apparently minority owner Kehriotis is surprised to hear about the sale. If he had right of first refusal, I feel like he should have known (Or else the Maloofs did something very illegal). The article is here, but it is behind a paywall and I can't read it:
http://www.morganhilltimes.com/arti...cle_65bc6352-795a-5781-a56b-3469d716c133.html
R.E. Graswich goes on to double-down on his rumor:
http://www.morganhilltimes.com/arti...cle_65bc6352-795a-5781-a56b-3469d716c133.html
R.E. Graswich goes on to double-down on his rumor:
The $30 million deposit is also conjecture I'd say since the actual details of the deal haven't been released. Given that the NBA actually has to approve all sales I can't imagine that the Maloofs would get $30 million from Hansen regardless of whether the deal goes through. Now, $30 million in liquid assets held in trust and given to the Maloofs upon the league's approval? That I could see.
But it doesn't matter anyway. Ellison put in the biggest bid on the Warriors and didn't get the team. I still believe that if Kevin Johnson assembles a group that matches what the Maloofs would get from the deal they just signed AND shows that the arena deal is still very much alive and possible that the team will remain in Sacramento.
Look closely at David Stern's language when discussing the Kings and Kevin Johnson. That's more than token praise, ESPECIALLY telling AEG to start up arena talks. This isn't over.
But it doesn't matter anyway. Ellison put in the biggest bid on the Warriors and didn't get the team. I still believe that if Kevin Johnson assembles a group that matches what the Maloofs would get from the deal they just signed AND shows that the arena deal is still very much alive and possible that the team will remain in Sacramento.
Look closely at David Stern's language when discussing the Kings and Kevin Johnson. That's more than token praise, ESPECIALLY telling AEG to start up arena talks. This isn't over.
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