Deal in place!!

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Schmoe

Schmoe

G-League
#1
#1
Happy day! Looks like term sheet is finalized. $448M arena cost. $258M from city with same basic terms as last year. Over $1B in total investment downtown. 35-year commitment from new ownership to keep Kings in Sac.

I'll take it!
 
VF21

VF21

Super Moderator Emeritus
SME
#3
#3
Be sure and catch the news at 5 on Ch. 10, followed by a pre-game sports extra at 5:30 and the game itself at 6 p.m. Again, all on News10.

It's a GREAT day to be a Kingsfan!!!!
 
Glenn

Glenn

Hall of Famer
#4
#4
There is an irony here. If the term sheet of a year ago were approved and signed by the Maloofs, the arena would be in the rail yards which I think is far less desirable than downtown.

Does Seattle have an approved term sheet or have the legal entanglements slowed them down? I need a reason to gloat which, yes, I know, is not being a good sport. **** being a good sport!!!!
 
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butteredbiscuit

G-League
#7
#7
VF21 said:
Be sure and catch the news at 5 on Ch. 10, followed by a pre-game sports extra at 5:30 and the game itself at 6 p.m. Again, all on News10.

It's a GREAT day to be a Kingsfan!!!!
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Congrats! I am happy for you! I was listening to this friend of mine and he was against the Kings and wanted them to move. But he came to visited Sacramento and when he got back home, he told me that he changed his mind and is supporting the Kings to stay. I guess he went into the sports bar there and started asking the people there about the Kings and it changed his mind.
 
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Brac-o-matic

G-League
#8
#8
Glenn said:
There is an irony here. If the term sheet of a year ago were approved and signed by the Maloofs, the arena would be in the rail yards which I think is far less desirable than downtown.
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And we'd still be stuck with the dumpy Maloofs.

I was not happy that the Maloofs backed out last year. Now, it could be the best thing that has happened to this city...
 
Glenn

Glenn

Hall of Famer
#9
#9
Brac-o-matic said:
And we'd still be stuck with the dumpy Maloofs.

I was not happy that the Maloofs backed out last year. Now, it could be the best thing that has happened to this city...
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Yup and yup. Bad news morphs into great news. This is big news to Sacramento, even those against the arena. I think this is one of those deals that after the arena is built and Prince no longer bypasses Sacto to go to the Bay Area because of a crappy arena, they will understand how this pumps money and fun into Sacto. The easiest way of viewing this is that the surrounding area will now spend more money in the city itself. I now have a reason to go downtown as Petula Clark would sing.
 
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butteredbiscuit

G-League
#10
#10
Brac-o-matic said:
And we'd still be stuck with the dumpy Maloofs.

I was not happy that the Maloofs backed out last year. Now, it could be the best thing that has happened to this city...
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Question: You see how the deal is for Seattle is where Maloofs still owned 30 some percent of the team. Could you handle that if that deal was with the Mastov group where they get to be still part of the ownership group Just your opinion!
 
Tetsujin

Tetsujin

The Game Thread Dude
#12
#12
butteredbiscuit said:
Question: You see how the deal is for Seattle is where Maloofs still owned 30 some percent of the team. Could you handle that if that deal was with the Mastov group where they get to be still part of the ownership group Just your opinion!
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Where did you get that idea? The Maloofs are only selling 65% of the team because that's all they own. Well technically, they own 53 % but they control a 12% minority interest as well.
 
VF21

VF21

Super Moderator Emeritus
SME
#13
#13
butteredbiscuit said:
Question: You see how the deal is for Seattle is where Maloofs still owned 30 some percent of the team. Could you handle that if that deal was with the Mastov group where they get to be still part of the ownership group Just your opinion!
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Could we please put this off? Allow us to celebrate the news that our heart still beats. Thanks.
 
VF21

VF21

Super Moderator Emeritus
SME
#15
#15
Tetsujin said:
Seattle's getting desperate. Would rather whizz in our Wheaties than let us have our joy.
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NO ONE is going to ruin this day for us. We have gone through too much and waited too long. I have the ability and will not hesitate to delete posts that attempt to do anything to dampen our spirits. They can darned well start a different thread or go somewhere else.

WE ARE SACRAMENTO!!!
 
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butteredbiscuit

G-League
#17
#17
Tetsujin said:
Where did you get that idea? The Maloofs are only selling 65% of the team because that's all they own. Well technically, they own 53 % but they control a 12% minority interest as well.
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I am glad to get that straightened out. Thank you! I thought they would sell 65% of the team and they would hang onto the rest. I was wrong

http://www.usatoday.com/story/sport...oofs-chris-hansen-sonics-supersonics/1850631/

The Maloofs, who have owned majority interest in the team since 1999, will sell the 65% they control for a price based on a $525 million valuation of the franchise (approximately $341 million). The remaining 35% belongs to minority owners and would likely be transferred in the transaction so long as it's approved by the NBA's Board of Governors. As part of the deal, the Maloofs - who will retain a small percentage of ownership in the Sonics but will have no say in personnel or business matters - will also receive a non-refundable $30 million deposit from the Hansen-Ballmer group that they'll keep even in the seemingly-unlikely event that the Maloofs are convinced to instead sell to a Sacramento-based ownership group. The finalizing of the Seattle deal was first reported on Sunday night by NBCSports.com and ESPN.com, and the NBA confirmed it on Monday morning.

So I thought they controlled the 35%.
 
S

Sooty

Prospect
#18
#18
Sacramento!

Hey guys, I want to go tomorrow night to HWB2. It's going to be rocking. Where is the best deal for 4. Much appreciated and a great job.

Very proud to be part of this.
 
Tetsujin

Tetsujin

The Game Thread Dude
#20
#20
Jordan Goins said:
Thought I'd just share from Twitter:

-@AaronRodgers12
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Damn, you beat me to the punch.

Aaron Rodgers voicing his support for the arena situation is probably actually bigger than we think. Having one of the most visible sports stars in America say that is certainly not going to help turn the tide of the national media
 
Tetsujin

Tetsujin

The Game Thread Dude
#22
#22
Meanwhile in the continuing comedy that is Sonics "fan"sites, people are startign to kick it Maloof style.

catdawg on March 23, 2013 at 4:59 pm said:
I know there is no opposition in Sacramento, however, man, that just seems like irresponsible management of a city.

I don’t live there though so maybe when they say the Kings are all they’ve got then truly, they have nothing else — no creativity, no “diversity” in their economy (like that KJ?) and no ability to generate or attract other businesses, just a sort of depressed town with incredibly high unemployment (12% is sad). So hey, let’s build this big entertainment venue for all those working upper income people in Sacramento….
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And/or are glossing over the career of one of the best PGs of the 90s:
Tired of KJ. He’s a pathetic politician who has played harder for this than he did in the NBA.
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And just plain ol' belittling the efforts
We knew this is what we’d be facing. They missed their deadline, so everybody assumed they wouldn’t have an arena deal at all and so when it comes out it’s this huge haymaker surprise blow? Sorry, no.

All along we’ve expected Sac to put forth their pasted together, not as wealthy ownership group with their rushed, potentially legally compromised arena plan. I don’t get why when it actually comes to fruition people worry more. It’d have been nice to have the whole thing tank with no arena deal coming together, it’d have been nice for no ownership to emerge, etc.

We’re still that stronger market with the stronger ownership and the completed arena deal that has been through the rigors of public scrutiny and debate.
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Stay classy Seattle. Why am I even wasting my time reading their drivel? (So you guys don't have to)
 
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AL/kfan

G-League
#24
#24
Wow! The City Council hasn't even voted on the deal yet and News 10 just reported that inquiries are being received wanting to know what vacancies are available at the Downtown Plaza. Nick M saying he feels the vote will pass to accept the plan 7-2 and you know the two Council members who will vote no.
A great day for Sacramento and for Sacramento Kings fans.
 
Tetsujin

Tetsujin

The Game Thread Dude
#25
#25
AL/kfan said:
Wow! The City Council hasn't even voted on the deal yet and News 10 just reported that inquiries are being received wanting to know what vacancies are available at the Downtown Plaza. Nick M saying he feels the vote will pass to accept the plan 7-2 and you know the two Council members who will vote no.
A great day for Sacramento and for Sacramento Kings fans.
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Here's the thing, Fong voted yes the last time around. 8-1 is a definite possibility.
 
Glenn

Glenn

Hall of Famer
#27
#27
Channel 10 is saying the investment group is not only putting in $190 mil for the arena but a total of $1 bil to rebuild the area around the arena. Are they misreading something? Is it a coincidence that the total cost of the Kings and the arena is roughly a billion?
 
VF21

VF21

Super Moderator Emeritus
SME
#29
#29
Glenn said:
Channel 10 is saying the investment group is not only putting in $190 mil for the arena but a total of $1 bil to rebuild the area around the arena. Are they misreading something? Is it a coincidence that the total cost of the Kings and the arena is roughly a billion?
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What I understood was cost of the kings plus the arena PLUS area development around the ESC would approach $1 billion.
 
A

Andriod_KiNg

Starter
#30
#30
Tetsujin said:
Meanwhile in the continuing comedy that is Sonics "fan"sites, people are startign to kick it Maloof style.



And/or are glossing over the career of one of the best PGs of the 90s:


And just plain ol' belittling the efforts



Stay classy Seattle. Why am I even wasting my time reading their drivel? (So you guys don't have to)
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And you wonder how they lost their team to such a "small town" like OKC in the first place ;)
 
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