Uk kings fan
Bench
so we have got the new ownership... is mr burkle still part the kings or not??
Is Burkle still involved with new ownership?
- Thread starter Uk kings fan
- Start date
Trueblood
Bench
Not part of the Kings but he's going to be a big part of downtown Sacramento. He has big plans for developing the area around the arena.
Uk kings fan
Bench
why did he leave the kings bid then?? did we find out?
and what is he doing in the downtown area?
uolj
Starter
He left because NBA bylaws don't allow a team owner (or arena developer) to also own part of a player management company. Burkle couldn't or didn't want to divest his ownership in another company that employs player agents, so they decided he would focus development outside the arena.
Given the size and strength of the current group it seems unlikely that Burkle will drop that other company to join the Kings ownership or arena development.
whozit
Starter
He has a financial interest in a company that represents NBA players, a conflict of interest. It's been reported that it is a very small interest, 20 million or something like that. His "voluntary" stepping out may have been political (appeasing the Maloof's). There have been hints that shortly after the sale is complete he will be back in the ownership circle.
As for what he is doing downtown, I believe he helped finance JMA enterprises with their purchase of the mall. Coincidence? I think not.
Jose
Bench
There were concerns regarding conflicts of interests with his part-ownership of another team, his involvement in a sports agency and his bid to purchase AEG. So he stepped aside.
whozit
Starter
Very close to what I understood other than whether or not he was going to drop his interest in the other company and become part of the ownership group in some way. The fog of war.
Uk kings fan
Bench
so what is he planning to do downtown?? what kind of development prodjects?
uolj
Starter
The usual... office space, residences, restaurants, shopping, more entertainment venues, etc. Make it a hub of activity in the evenings, especially on game/concert nights, plus make it a bustling/vibrant place during the day.
They're working hard now on designing a lot of the details, I'm sure they will be announced as they get completed.
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