Here is the Kings document on the changes they wanted.

[slugking50]

From the Sacramento Bee:

http://media.sacbee.com/smedia/2012/04/16/22/20/ZwH5b.So.4.pdf

Artlicle from where I got the link:

http://www.sacbee.com/2012/04/16/4419395/sacramento-releases-list-of-arena.html

 

[The Hammer]

You know how when someone repeatedly lies to you and distorts the truth, that things just kind of keep dawning on you? I just thought of another atrocity of logic committed by the Maloofs:

They cite a reason for not doing the deal that it was going to cause "financial calamity" or some such thing. That it was not good for the city financially. Yet, they propose offering ZERO collateral on the refi loan on the current arena! (For which I can only assume the current collateral is the current arena).

Oh, and the other demands the Maloofs were making weren't going to contribute to the financial calamity? Such as not paying normal district taxes. The more these guys talk, and the more that comes out, the slimier they get!! You can't write this ****!!

 

[Kingsfan23]

slimebags making unmatchable demands in their quests to prevent an arena deal and remaining in Sacramento

 

[eflat]

For being just a tenant, they sure tried to insert a lot of perks and rights for themselves.

I'm bemused by the comment on the Confidentiality section:

Comment [u34]: No longer applicable as the document is public.

 

[ParniValjak]

I just finished reading that document and all i can say is that Maloofs are more loony than I originally thought. Some of those request just defy all logic. Not offering collateral on refinancing on the loan, being exempt from the taxes etc... What mildly normal human being could possibly make those requests. They come across with a sense of entitlement because they are the Maloofs but FFS start living in the real world mofos. No one in their right mind would agree to those requests and then to say its a bad deal for the city after making those demands is just plain comedy!

They must have been high off their **** when they requested these changes. Surely?!

 

[OnYouLikeGlue]

I just finished reading that document and all i can say is that Maloofs are more loony than I originally thought. Some of those request just defy all logic. Not offering collateral on refinancing on the loan, being exempt from the taxes etc... What mildly normal human being could possibly make those requests. They come across with a sense of entitlement because they are the Maloofs but FFS start living in the real world mofos. No one in their right mind would agree to those requests and then to say its a bad deal for the city after making those demands is just plain comedy!

They must have been high off their **** when they requested these changes. Surely?!

I know. Especially considering none of the outrageous provisions proposed here by the Maloofs were included in the deal they had already agreed to with Anaheim.

 

[captain bill]

For being just a tenant, they sure tried to insert a lot of perks and rights for themselves.

I'm bemused by the comment on the Confidentiality section:

The Kings' requests for change are the bolding and underlining (language that they want to add) and the strikethroughs (language that they want to delete). The comments on the right are the responses from the city's negotiator.

 

[captain bill]

I know most of this is already public knowledge, but some of the more absurd aspects:

-the Kings want to keep 100% of food, beverage, and merchandising expenses, but don't want to be responsible for game-day operating costs. This is insane- if they want to not bear the operating costs they have to give up the revenue. Otherwise it's basically asking the city/AEG to give up a ton of money for literally nothing in return.

-the insistence on control over naming rights to the arena and other branding is patently absurd given that they just gave Power Balance the naming rights to Arco. Power Balance! I think this is codeword for, we get to choose the name, and it's going to be the highest bidder, regardless of how classless and stupid it is.

-asking for no taxes/not to pay for city game-day services (i.e., police and traffic) is just stupid. Demanding more money from the city for nothing.

My take on this is that the NBA used a template that all other teams basically follow in agreements with cities and that these terms are more or less boilerplate. The Kings want as much money as possible and refuse to agree to even the most basic fair principles.

And what's most damning: Page 13, "Team Transfer." The city and the NBA agreed that the terms would be binding on any new owner; the Kings want the terms to be negotiable (non-binding) for a new owner. And what's the biggest term that would affect the sale of the team? The ability to relocate, obviously. The Maloofs want to be able to flip the team to an out-of-towner who wants to relocate, which is consistent with their desire to reduce the length of the lease to 15 years from 30.

TL;DR: Maloofs want the City, the NBA, and AEG to give them money hand over fist beyond what other teams have gotten in similar deals. The Maloofs also don't want to commit long-term to Sacramento, and want to give any potential buyers the right to move the team ASAP (even before the arena is completed, presumably).

 

[swisshh]

Once you look at the requests, you realize that some of the requests are there with the intent to make sure the deal never happens. They are basically requests that would never be approved and could hold the arena deal up until the end of time.

 

[VF21]

As I said in the other thread, if you compare the two documents you have to wonder just how crazy George Maloof has become.

 

[OnYouLikeGlue]

And if the Maloofs are so concerned with how bad this deal is for the city, then why are they making proposed changes that would only worsen the deal for the city? They really don't have a clue.

 

[gunks]

Once you look at the requests, you realize that some of the requests are there with the intent to make sure the deal never happens. They are basically requests that would never be approved and could hold the arena deal up until the end of time.

Yep. They've wanted to move the entire time.

Anaheim or bust! (Looking more and more like its gonna be bust, sorry Magoofs!)

 

[eflat]

And if the Maloofs are so concerned with how bad this deal is for the city, then why are they making proposed changes that would only worsen the deal for the city? They really don't have a clue.

It's pathological. They cry to the media about looking out for the best interests of the city, naturally not expecting the true life freaking document to come out. Is this how "developers" do business in Vegas?

 

[whozit]

Talk about a five year old toddler's Christmas wish list ...................

 

[pdxKingsFan]

George would be in a ditch in the desert if he tried this in Vegas.

 

[JB_kings]

Once you look at the requests, you realize that some of the requests are there with the intent to make sure the deal never happens. They are basically requests that would never be approved and could hold the arena deal up until the end of time.

That right there sums up why the City won't waste it's time with these clowns. It's all set up to fruitless exercise and to provide evidence that they cannot work here. The Maloofs intentions are fully geared towards damaging the city as an NBA market.

 

[jpsls]

george said he was up until 4am working on the revised term sheet? All he did was cross out all responsibilities delegated to the Kings lol. He has too much time on his hands these days.

 

[gunks]

george said he was up until 4am working on the revised term sheet? All he did was cross out all responsibilities delegated to the Kings lol. He has too much time on his hands these days.

Insane coke binge.

 

[kupman]

That right there sums up why the City won't waste it's time with these clowns. It's all set up to fruitless exercise and to provide evidence that they cannot work here. The Maloofs intentions are fully geared towards damaging the city as an NBA market.

I also wonder after Friday who on Earth (far beyond city council) will ever work with these guys after how they looked on a national stage. They lost a ton of money on Friday. They not only lost many fans/ticker purchasers, but they also lost a ton of prospective business partners for any endeavor they might have.

 

[kupman]

As I said in the other thread, if you compare the two documents you have to wonder just how crazy George Maloof has become.

I don't want to start another poll, but I am trying to decide what is more delusional:

1) maybe after all this we should just look at renovating PBP instead, or

2) Can we redo the city loan, but this time without collateral?

 

[Section 101]

I don't want to start another poll, but I am trying to decide what is more delusional:

1) maybe after all this we should just look at renovating PBP instead, or

2) Can we redo the city loan, but this time without collateral?

Neither, the I'm a developer it can be done was the winner. I was just hoping for someone to ask how the palms worked out.

 

[upinsmoke]

Neither, the I'm a developer it can be done was the winner. I was just hoping for someone to ask how the palms worked out.

I'm sorry I dont mean to be rude but I don't understand what you where trying to get across.

 

[funkykingston]

I'm sorry I dont mean to be rude but I don't understand what you where trying to get across.

It was a response to kupman's post that he didn't know what was the most delusional thing the Maloofs have put forward and that George's comment that he knows PBP can be renovated because he's "a developer" was the most delusional of all.