... in which sactownfan tries to gin up panic...

[VF21]

You're certainly entitled to your opinion. I do not agree with it and I find it full of assumptive leaps and misleading presumptions.

The Maloofs are going to take away a civic treasure? Ex-freaking-cuse me? They helped make the Kings what they have been in recent memory.

I'll be blunt. I don't think there's any way on earth you and I will ever see eye to eye on this and, again being honest, I don't really think you know what you're talking about. So, I'll bow out.

Have a nice day.

 

[Section 101]

The attendance numbers were down and it would have been alot worse if they didn't have the $10 cheap seats. So ya they lost a ton because there were less people in the lower section and more up top in the $10 seats. And many of the boxes were empty.

 

[kennadog]

Trueblood: The prior ownership borrowed money from the city becasue they were going under. A debt the Maloofs are paying on and when things were going well and we were making the playoffs in good economy they even made and extra payment on the debt.

The prior majority ownership finally had to sell out, because they were going bankrupt. We were lucky then, that the new owners (MSE) did not want to move the team.

MSE has opened their books twice to the Sacramento Bee. The Bee verified red ink for a few years after MSE took over. That was in a decent economy. The first year to team was in the black was when they made a run into the post season. The extra sales made a difference. I believe MSE has not opened their books since then, because the Bee has been so disparaging of them. Actually, on more than one occassion, being downright insulting.

If you would read some of the good information in the threads here, you would also find out that Arco arena has almost reached economic obsolescence. This has been verified by more than one consultant hired by the city.

So the Maloofs not only have a team not making enough money right now, they have an albatross of an arena, that costs more and more to maintain to even function at all and can't accomodate many of the bigger shows anymore.

There are threads in here that discuss pro sports economics. I'm certainly not going to repeat them all. Suffice it to say that owning a pro sports team is a rich man's hobby. Other than bigger market teams, most are going to be lucky to break even in a decent economy. That's what most small market teams aim for...not being in the red.