Gavin: Kings Will NOT File For Relocation Next Year

kennadog

kennadog

Dog On It!
#4
#4
A big thank you to the Maloofs for their determination to try and make things work in Sacramento, even after 10 years of no success on the arena issue. I hope you have some idea of how much that is appreciated by this Kings fan. :)
 
Trueblood

Trueblood

Bench
#5
#5
Excellent news. I just hope there isn't more than meets the eye such as this being nothing more than a vote of confidence to KJ in finding a new arena plan and that if it doesn't happen, they'll wind up filing for relocation.
 
Circa_1985_Fan

Circa_1985_Fan

All-Star
#6
#6
Trueblood said:
Excellent news. I just hope there isn't more than meets the eye such as this being nothing more than a vote of confidence to KJ in finding a new arena plan and that if it doesn't happen, they'll wind up filing for relocation.
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Well, this arena issue can't drag on forever, and if in the next year or so there isn't an arena deal done, I wouldn't blame them for at least considering a move, this buys a good chunk of time to get SOMETHING done...it would be nothing personal against us fans, it would be moreso because a business has to have positive direction as to not go bankrupt, and staying in an inadequate arena that's continually in th red isn't condusive of anything remotely positive. This IS great news, as our former NBA All Star mayor now can step in the batter's box! :)
 
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Trueblood

Trueblood

Bench
#9
#9
Circa_1985_Fan said:
Well, this arena issue can't drag on forever, and if in the next year or so there isn't an arena deal done, I wouldn't blame them for at least considering a move, this buys a good chunk of time to get SOMETHING done...it would be nothing personal against us fans, it would be moreso because a business has to have positive direction as to not go bankrupt, and staying in an inadequate arena that's continually in th red isn't condusive of anything remotely positive. This IS great news, as our former NBA All Star mayor now can step in the batter's box! :)
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Agree with all that. I wouldn't blame them if significant progress isn't made within a year or two.

My biggest concern is with the upcoming March relocation deadline. While they may be saying the right things now, who knows what developments will be coming up in the next few months that could sway their opinions of the future of Sacramento.

Again, I'll give them the benefit of the doubt but I won't count my chickens either.
 
Circa_1985_Fan

Circa_1985_Fan

All-Star
#10
#10
Trueblood said:
Agree with all that. I wouldn't blame them if significant progress isn't made within a year or two.

My biggest concern is with the upcoming March relocation deadline. While they may be saying the right things now, who knows what developments will be coming up in the next few months that could sway their opinions of the future of Sacramento.

Again, I'll give them the benefit of the doubt but I won't count my chickens either.
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And it's our mayor's job to make sure that there is positive direction from here on out to get an arena built.
 
Bricklayer

Bricklayer

Don't Make Me Use The Bat
#11
#11
Trueblood said:
My biggest concern is with the upcoming March relocation deadline.
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Well he just said they weren't going to file this March, so it gives an extra year at least. Won't file this March, so will have until March 2011 to have something in place to convince them to stay. In a decent economy, wth a motivated political leader, and a non-deluded citizendom, you could get something going in that time. As it is, I am only sure of the 2nd one, and he's a rookie at his job.

And you know, tragic as it would be, if come March 2011 there still isn't anything in place and the Maloofs leave? I won't blame them. They've been as good as their word on the loyalty to Sacramento bit, and that's with no Sacramento connections beyond the team itself. They started talking about a new arena TEN years ago, and yet here is yet one more extension. They will really owe no apologies to anyone if they are basically forced from town as chunks of the decrepit arena fall down around their heads.
 
Kings Faithful

Kings Faithful

Starter
#12
#12
Bricklayer said:
Well he just said they weren't going to file this March, so it gives an extra year at least. Won't file this March, so will have until March 2011 to have something in place to convince them to stay. In a decent economy, wth a motivated political leader, and a non-deluded citizendom, you could get something going in that time. As it is, I am only sure of the 2nd one, and he's a rookie at his job.

And you know, tragic as it would be, if come March 2011 there still isn't anything in place and the Maloofs leave? I won't blame them. They've been as good as their word on the loyalty to Sacramento bit, and that's with no Sacramento connections beyond the team itself. They started talking about a new arena TEN years ago, and yet here is yet one more extension. They will really owe no apologies to anyone if they are basically forced from town as chunks of the decrepit arena fall down around their heads.
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I agree with not blaming the Maloofs if they leave later on. I don't believe its going to get to that point again where they will consider it. The NCAA snub and increasing news coverage on the arena is going to get the problem out to the public. Fox40 has been pushing pro arena coverage for a while now and I think its going to pay off. LETS GET IT DONE!
 
nickmcclure

nickmcclure

Bench
#13
#13
As a Southern California resident, I wouldn't hate seeing the Kings play in Anaheim but I'm still glad the Kings stay in Sacramento where they belong!
 
kennadog

kennadog

Dog On It!
#14
#14
Personally, I wouldn't blame the Maloofs if they had wanted to file for a move in March 2010. I'm just glad their intention right now is not do that until a t least March 2011. They have been beyond patient with trying to let the public powers-that-be try to come up with something feasible.

Especially after the city misled Stern and the Maloofs on the Q & R proposal and what financing was already comitted to the RR yards infrastructure. Most people don't seem to realize that's why Stern and the Maloofs withdrew from that campaign.
 
Chupacabra

Chupacabra

Starter
#15
#15
Heres something I dont understand about the city of Sacramento. Aside from the past couple years the Kings have had no problem packing arco arena. If so many people are willing to go to the games regardless of the teams success, then what is the big problem with paying some extra taxes to help build a new arena. Sacramentans want to religiously attend the games yet have no interest in helping fund a new arena being built? I dont understand the thought process there. Usually its teams that get little support from their local fan base that have a problem getting a new arena built. For a city like Sacramento to think ANY infrastructure is currently more important than a new arena to keep their sports franchise is feeble minded.
 
kennadog

kennadog

Dog On It!
#17
#17
Chupacabra said:
Heres something I dont understand about the city of Sacramento. Aside from the past couple years the Kings have had no problem packing arco arena. If so many people are willing to go to the games regardless of the teams success, then what is the big problem with paying some extra taxes to help build a new arena. Sacramentans want to religiously attend the games yet have no interest in helping fund a new arena being built? I dont understand the thought process there. Usually its teams that get little support from their local fan base that have a problem getting a new arena built. For a city like Sacramento to think ANY infrastructure is currently more important than a new arena to keep their sports franchise is feeble minded.
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California is an unbelievably anti-tax State and some ridiculous anti-tax propositions have passed by ballot, over a number of years, that leave little room for anything to get funded without a special tax or fee.

And those generally have a snowball's chance in he** of getting passed, regardless of the good it might do. This has been especially hard on localities like cities and counties. They have few options for revenue. They do have a little more flexibility in refvenue sources for redevelopment areas like the railyards. The cioty has committed to giving the developer $1 billion in publicly subsidized funding, but don't know where they'll get all that money yet. (It will be over the many years build out.)

That's why they are trying to get something done at Cal Expo. That's a State "agency" created by the State legislature and recently granted bond authoirty to raise money to re-do CAl Expo. Incidentally, the City could have done bonds to, where a bank would have been the lender (with provate investors putting up the money) and the city would guarantee payments on the bonds. That was one of the attempts that got shot down by the public.

Also, remember that only a certain percentage of people take in events at Arco, but it takes a 2/3s majority of voters to pass any single-purpose tax increase in California (another dumb proposition).

I could go on and on about why its so hard....but I've already gone on too long. ;)
 
bajaden

bajaden

Hall of Famer
#18
#18
Someone called into Grants show the other day and suggested a general investment fund where anyone could contribute and buy shares of the arena. Similar to what Green Bay did for the Packers. Not a bad idea. A publicly owned arena. I would be willing to contribute to it. If not that, I wonder if there are any more Russian Billionare's over there that want to invest in a team.:rolleyes:
 
NME

NME

Starter
#19
#19
Chupacabra said:
Heres something I dont understand about the city of Sacramento. Aside from the past couple years the Kings have had no problem packing arco arena. If so many people are willing to go to the games regardless of the teams success, then what is the big problem with paying some extra taxes to help build a new arena. Sacramentans want to religiously attend the games yet have no interest in helping fund a new arena being built? I dont understand the thought process there. Usually its teams that get little support from their local fan base that have a problem getting a new arena built. For a city like Sacramento to think ANY infrastructure is currently more important than a new arena to keep their sports franchise is feeble minded.
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The really scary thing is that the new arena couldn't even get any traction several years ago when the economy was much better and the Kings were at the height of their popularity and success.
 
BritishColumbia

BritishColumbia

Bench
#24
#24
bajaden said:
Hey, one of them just bought the Nets and is building a new arena as part of the deal. I'm not sure the whole thing has been approved yet, but thats the deal. Send one to us..:)
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The Nets are just lucky bastards :)

Prokhorov was the only super rich guy out there and they got him. As far as I know, Prokhorov is a very talented manager and absolutely loves basketball, which is very rare in Russia where soccer and hockey are the sports. He turned CSKA around (4 Euroleague finals in a row) and I think he can do it with the Nets. He would have been the best owner for us.

I guess KF forum should send some guys to Saudi Arabia with colorful advertising brochures about Sacramento and the Kings :D
 
VF21

VF21

Super Moderator Emeritus
SME
#25
#25
I'm glad the Sacramento Bee via Sam Amick FINALLY put the truth out there for everyone to see. The Maloofs have been saying this all along - it was R.E. Graswich and Marcos Breton, for the most part, who added fuel to the "The Maloofs are gonna pick up and leave" fire.

Thank you, Joe and Gavin and the rest of the Maloof family. This Kings fan - and the rest of my family - is very glad to see the Bee acknowledge what you've been saying all along and we will continue to support you!

I LOVE THIS TEAM!!!

:)
 
Bricklayer

Bricklayer

Don't Make Me Use The Bat
#26
#26
BritishColumbia said:
I guess KF forum should send some guys to Saudi Arabia with colorful advertising brochures about Sacramento and the Kings :D
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I'm sure a Saudi sheik would get a real kick out of our dance team photos. :p

There are plenty of rich guys in the U.S. who don't own basketball teams. Fact is, its just bad business. Its a hobby, not a money maker, and so the guys 100% focused on going from 1 billion to 2 billion have better places to put their money. You have to have a passion ffor the sport, or at least sports competition, to be willing to lose money on such a huge investment. Even for a billionaire, you're talking about possibly 1/3 of their portfolio if they actually bought 100%.
 
BritishColumbia

BritishColumbia

Bench
#28
#28
Bricklayer said:
I'm sure a Saudi sheik would get a real kick out of our dance team photos. :p

There are plenty of rich guys in the U.S. who don't own basketball teams. Fact is, its just bad business. Its a hobby, not a money maker, and so the guys 100% focused on going from 1 billion to 2 billion have better places to put their money. You have to have a passion ffor the sport, or at least sports competition, to be willing to lose money on such a huge investment. Even for a billionaire, you're talking about possibly 1/3 of their portfolio if they actually bought 100%.
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Exactly! It is a horrible investment. ROI is miserable or most likely negative.
That's why it is so tough to find the right person. Obviously, I do not know anything about it but I am 90% sure that the brothers would sell the team (or 50%+ of it) if the price is right. They are not that rich to deal with a struggling small market team with serious arena issues in a straggling economy. It is almost too much for anybody and they are not the Gates and Abramoviches. I really feel for those guys.

IMHO there are 2 types of potential buyers for our team:
- Local enthusiast (A very rich guy (1-2 billion capital) who grew up in Sacramento, loves the team and wanna keep it in the town and is ready to lose a lot of money). I do not think we have one though.
- Foreign enthusiast (An extremely rich guy (5+ billion capital) who loves basketball a lot and has a dream to own a NBA team and be a part of NBA and is ready to pay a lot for his dream) Example: Mikhail Prokhorov.

I did not mention US businessmen from other places because I think (I might be wrong) that a rich guy from Houston will not spend a fortune just to keep this team in Sacramento.
 
Bricklayer

Bricklayer

Don't Make Me Use The Bat
#29
#29
BritishColumbia said:
Exactly! It is a horrible investment. ROI is miserable or most likely negative.
That's why it is so tough to find the right person. Obviously, I do not know anything about it but I am 90% sure that the brothers would sell the team (or 50%+ of it) if the price is right. They are not that rich to deal with a struggling small market team with serious arena issues in a straggling economy. It is almost too much for anybody and they are not the Gates and Abramoviches. I really feel for those guys.

IMHO there are 2 types of potential buyers for our team:
- Local enthusiast (A very rich guy (1-2 billion capital) who grew up in Sacramento, loves the team and wanna keep it in the town and is ready to lose a lot of money). I do not think we have one though.
- Foreign enthusiast (An extremely rich guy (5+ billion capital) who loves basketball a lot and has a dream to own a NBA team and be a part of NBA and is ready to pay a lot for his dream) Example: Mikhail Prokhorov.

I did not mention US businessmen from other places because I think (I might be wrong) that a rich guy from Houston will not spend a fortune just to keep this team in Sacramento.
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the thing you may not know, that I think makes a difference in the Maloofs' case, is that their dad owned the Houston Rockets back in the 70s/early80s. So after he passed, it was reportedly kind of a long time dream for them to own an NBA franchise of their own. Now has the shine come off that dream with all the local infighting + winning struggles? That I don't know. But it was a labor of love so to speak when they bought it, and I would be pretty surprised if they sold out, unless the whole empire is in danger of going under.

Keeping it in Sacto though...hey, I'm already surprised how loyal they have been to the area, so who knows.
 
kennadog

kennadog

Dog On It!
#30
#30
BritishColumbia said:
I did not mention US businessmen from other places because I think (I might be wrong) that a rich guy from Houston will not spend a fortune just to keep this team in Sacramento.
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That is why I wish people wouldn't hope for new ownership. We got lucky when the Kings original owners were going bankrupt, that the Maloofs bought into the team and have been totally committed to trying to stay in this small market, no corporate base city. But they aren't going to go bankrupt trying to keep a team here. I think they own 54%, but I gurantee you that any owner who buys a controlling interest will not keep the Kings in Sacramento this time.
 
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