Deal in place!!
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News10 said something quite different. They said it would be $340 mil to buy the Kings and $190 mil to pay for the arena. That's the amount Burkle/Mastrove/Ranadive will spend. The difference between that sum and $1 bil would be used to build up the downtown area around the arena. Unless my mind has gone daft, that's an extra $470 million that the investment group is going to spend in Sacramento. I think the smoke needs to clear before we can say what exactly the three are going to spend.
Thank you Livingthedream. This is a BIG deal for Sacramento. Far bigger than originally thought.
Thank you Livingthedream. This is a BIG deal for Sacramento. Far bigger than originally thought.
Yes, roughly 500-600 million to buy the team and build the arena. Maybe at least $400 million to put into development around the arena and K Street. A total of a billion into the team + arena+ development around arena/K Street. I'm so excited I can't stand it. Will certainly be celebrating this tomorrow!
And @#$! Sonics fans, who don't have a clue. They put down OKC fans for not understanding the facts of Seattle and the Sonics and now they are guuily of exactly that as regards Sacramento. They get most of the actual facts wrong.
Awww, gee. Thank you for the compliment. I know all of Crown Downtown will certainly be at the opening of a new arena. We can all party hearty together when that day arrives!
And @#$! Sonics fans, who don't have a clue. They put down OKC fans for not understanding the facts of Seattle and the Sonics and now they are guuily of exactly that as regards Sacramento. They get most of the actual facts wrong.
Awww, gee. Thank you for the compliment. I know all of Crown Downtown will certainly be at the opening of a new arena. We can all party hearty together when that day arrives!
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To say that I am absolutely pumped about this would be an understatement! I am seeing a strong light at the end of the talent and no it is NOT an oncoming train!
Less than a month to go until we keep our Kings and a free of the Maloofs for good! This is such an exciting day for us fans, no matter where we are in the world.
Not long to go now until this whole drama is over but all the pain and the ups and downs of the last few years will be worth it! Its a great day to be a fan of the Sacramento Kings!
Less than a month to go until we keep our Kings and a free of the Maloofs for good! This is such an exciting day for us fans, no matter where we are in the world.
Not long to go now until this whole drama is over but all the pain and the ups and downs of the last few years will be worth it! Its a great day to be a fan of the Sacramento Kings!
Well, the investors are talking about building a new high-rise hotel on the plaza site. Sacramento has actually added quite a few high quality hotels downtown in recent years (all received public assistance ) The Hyatt Regency, the first, recently underwent renovation. Now we also have Embassy Suites on the river front, Citizens Hotel and the Sheraton Grand. All beautiful. The Citizens and Sheraton actually saved historic buildings. So you add a another hotel next to the new arena, we'd be doing pretty well. And there are hotels/motels that are not that quality, but are more affordable. Also, West Sacramento is proposing to build a huge high-rise hotel on their waterfront. Just a short walk to the new arena location.
I'm so happy, and my cat and dog are here to hug, but they get nervous if I scream and jump around.
) The Hyatt Regency, the first, recently underwent renovation. Now we also have Embassy Suites on the river front, Citizens Hotel and the Sheraton Grand. All beautiful. The Citizens and Sheraton actually saved historic buildings. So you add a another hotel next to the new arena, we'd be doing pretty well. And there are hotels/motels that are not that quality, but are more affordable. Also, West Sacramento is proposing to build a huge high-rise hotel on their waterfront. Just a short walk to the new arena location.I'm so happy, and my cat and dog are here to hug, but they get nervous if I scream and jump around.
Awesome news and I am VERY excited about this term sheet. Much better than last time and obviously with much better ownership involved!
Just to state the obvious:
Hopefully the City Council takes a vote on Tuesday and approves this term sheet. I suspect it will.
The ownership group has to make a revised (equivalent) bid to the NBA BOG for the team itself. I am sure they will.
Then comes the lobbying of the NBA committee by Sacramento and Seattle on April 3rd. Then comes the vote on the 18th-19th or so after evaluation of the proposals.
If the above two things on Sacramento's side are met (and the lobbying goes well), (and I think they will be), basically it will come down to what the BOG feels about MSE's treatment of Sacramento (and the NBA's assistance to Sacramento over the years), the precedence of an owner agreeing to sell and move the team vs. the NBA not wanting teams to move from viable locations, the strength of both markets, past support for the team at the current location, anticipated support of the team at the new location, strength of the two bidding parties, current arena situation, feasibility and strength of arena proposals at both locations, and potentially the possibility of expansion in the next few years. There may be more topics as well.
Politics may trump all, as there are factors like wanting Burkle as an owner or wanting a new team owner that can help open up a market like India. Hoisting the WNBA banner again over a city that won a championship a few years ago is also attractive. As is the politics of a city stepping up to help finance an arena (multiple times!) for an NBA team - they do NOT want to set a precedent of rejecting such an offer and moving a team that has had pretty strong support over most of it's tenure.
There are a lot of topics to cover for the committee......
Just to state the obvious:
Hopefully the City Council takes a vote on Tuesday and approves this term sheet. I suspect it will.
The ownership group has to make a revised (equivalent) bid to the NBA BOG for the team itself. I am sure they will.
Then comes the lobbying of the NBA committee by Sacramento and Seattle on April 3rd. Then comes the vote on the 18th-19th or so after evaluation of the proposals.
If the above two things on Sacramento's side are met (and the lobbying goes well), (and I think they will be), basically it will come down to what the BOG feels about MSE's treatment of Sacramento (and the NBA's assistance to Sacramento over the years), the precedence of an owner agreeing to sell and move the team vs. the NBA not wanting teams to move from viable locations, the strength of both markets, past support for the team at the current location, anticipated support of the team at the new location, strength of the two bidding parties, current arena situation, feasibility and strength of arena proposals at both locations, and potentially the possibility of expansion in the next few years. There may be more topics as well.
Politics may trump all, as there are factors like wanting Burkle as an owner or wanting a new team owner that can help open up a market like India. Hoisting the WNBA banner again over a city that won a championship a few years ago is also attractive. As is the politics of a city stepping up to help finance an arena (multiple times!) for an NBA team - they do NOT want to set a precedent of rejecting such an offer and moving a team that has had pretty strong support over most of it's tenure.
There are a lot of topics to cover for the committee......
Kings Vs Lakers....Always a huge contingency of Laker fans show up to games out here. Not sure how our fanbase turnout is in LA, as I have never been to any Kings-Lakers games at Staples....
Warriors Vs Lakers......Kings fans ALWAYS show up in big numbers in Oak-Town
in-state rivals...makes for a great story line going into games...
Warriors Vs Lakers......Kings fans ALWAYS show up in big numbers in Oak-Town
in-state rivals...makes for a great story line going into games...
Not to mention that the new owner coming into the mix is a part owner of GSW (which he will have to sell before owning the Kings) so there is one CA in the bag. I have no doubt the other two will be ours as well. I am sure they were on the bandwagon for keeping us out of Anaheim, and I am sure they will be on the bandwagon for keeping us right where we belong..
We also have to factor in the owners disgust for the Maloofs and how basically they didn't file for relocation because the owners weren't going to allow it. I am sure a lot of them are thinking "not these schmucks again".
I wouldn't be surprised if Seattle were to back out before the meetings and make a play for an expansion team once Stern is out of office.
We also have to factor in the owners disgust for the Maloofs and how basically they didn't file for relocation because the owners weren't going to allow it. I am sure a lot of them are thinking "not these schmucks again".
I wouldn't be surprised if Seattle were to back out before the meetings and make a play for an expansion team once Stern is out of office.
I'm not trying to **** on anyone's parade, but from my understanding, if the BOG reject the move to Seattle, then ownership will belong to the maloofs, am I right? If so, how could we all be sure that the maloofs will sell to Burkle and co.? I know it's the most logical thing, but the last thing these douche bags are logical. My biggest fear is that the maloofs would be so spiteful that they will try to find a way to screw the town once again.
I wonder if the NBA can take over a team if the owners are insolvent like MLB did to the Dodgers? If the NBA can do this, then I would feel alot more relieved.
I wonder if the NBA can take over a team if the owners are insolvent like MLB did to the Dodgers? If the NBA can do this, then I would feel alot more relieved.
The Maloofs cannot do that. The league has that "what's good for the league clause" and this will definitely fall under that after the Maloofs have tried to move the team god knows how many times and has went into talks with everyone BUT investors to keep the team here. Basically they are trying to screw Sac out of our team. What's best for the league is if they just left.
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