Kings hand over papers to Taylor group:

[bajaden]

Haven't seen this posted anywhere, so if it has I apologize. Aparently the Kings handed over some of the requested papers to the Taylor group yesterday. I'm going to take that as a positive. Here's a few lines from the article in the Bee.

Officials with the mayor's office said Johnson hopes to meet with Kings' owners this week. The mayor's office has been contacting civic leaders in business, labor and neighboring cities in hopes of retaining the Kings and advancing efforts to build a state of the art arena to replace the antiquated Arco.
A mayoral aide also said the Kings on Monday had delivered the first batch of promised arena feasibility documents to the David Taylor and the ICON Venue group, who are looking into arena costs for the city.


Read more: http://www.sacbee.com/2011/02/28/3438309/kings-fans-fill-arco-loudly-implore.html#ixzz1FN9HbKpu​

 

[Glenn]

Haven't seen this posted anywhere, so if it has I apologize. Aparently the Kings handed over some of the requested papers to the Taylor group yesterday. I'm going to take that as a positive. Here's a few lines from the article in the Bee.

Officials with the mayor's office said Johnson hopes to meet with Kings' owners this week. The mayor's office has been contacting civic leaders in business, labor and neighboring cities in hopes of retaining the Kings and advancing efforts to build a state of the art arena to replace the antiquated Arco.
A mayoral aide also said the Kings on Monday had delivered the first batch of promised arena feasibility documents to the David Taylor and the ICON Venue group, who are looking into arena costs for the city.


Read more: http://www.sacbee.com/2011/02/28/3438309/kings-fans-fill-arco-loudly-implore.html#ixzz1FN9HbKpu​

So the Kings did what they said they would do except one working day too late if you listen to KJ.

 

[Circa_1985_Fan]

So the Kings did what they said they would do except one working day too late if you listen to KJ.

So...no meeting between the Maloofs/City/Taylor today?? I thought they said last week that they had a meeting scheduled for today??

 

[kennadog]

So...no meeting between the Maloofs/City/Taylor today?? I thought they said last week that they had a meeting scheduled for today??

As far as I know, that meeting is still on. Nothing I've seen has said its cancelled.

 

[Mike0476]

As far as I know, that meeting is still on. Nothing I've seen has said its cancelled.

http://www.news10.net/news/liveonline/default-on.aspx?menuid=181

News10 Mayor Johnson said he will be having a conversation w/ NBA commissioner David Stern Wed. about what can be done to keep the Sacramento Kings in town.
2011-03-01 11:10 AM Off

News10 Johnson also said he would be meeting with the Maloofs, owners of the Kings later in the week. Apparently, Tuesday's expected mtg. will not happen.
2011-03-01 11:10 AM Off

 

[Circa_1985_Fan]

http://www.news10.net/news/liveonline/default-on.aspx?menuid=181

News10 Mayor Johnson said he will be having a conversation w/ NBA commissioner David Stern Wed. about what can be done to keep the Sacramento Kings in town.
2011-03-01 11:10 AM Off

News10 Johnson also said he would be meeting with the Maloofs, owners of the Kings later in the week. Apparently, Tuesday's expected mtg. will not happen.
2011-03-01 11:10 AM Off

Ok...well, 48 1/2 days for Sacramento to get it together and show who we are and what we're made of.

 

[Glenn]

Ok...well, 48 1/2 days for Sacramento to get it together and show who we are and what we're made of.

So what are you going to do : wink I think there are some email adresses posted somewhere.





( now where did they go? )

 

[Glenn]

Let's have 10 people write to the mayor and each member of the city council today. I have my email account so I can send one email and it goes to everyone. A little trouble setting it up but once it's set up, sending a mass email is easy.

 

[Mike0476]

Let's have 10 people write to the mayor and each member of the city council today. I have my email account so I can send one email and it goes to everyone. A little trouble setting it up but once it's set up, sending a mass email is easy.

I have e-mailed them and got some responses that they will be delivered to the council members.

I also got a personal reply from someone within the MSE organization.

 

[Warhawk]

I have e-mailed them and got some responses that they will be delivered to the council members.

I also got a personal reply from someone within the MSE organization.

Same here.

 

[Circa_1985_Fan]

I have e-mailed them and got some responses that they will be delivered to the council members.

I also got a personal reply from someone within the MSE organization.

Yup, I'll be doing the same this week, I'm sending to Council/Mayor, MSE, AND David Taylor. The city and MSE want total control of revenue for any new arena...MSE has offered $10 mill/30 years. The only way this thing gets settled is with a revenue split. The Maloofs should cut their rent in half to $5mill and get 50% of arena revenues and the city should get 50%. Parking is $12 right now, why not raise it to $20 to help pay for the new arena, parking is $35 flat rate at the Oracle in Oakland...$20 is low compared to that. There's alot of other ways to satisfy the costs that can and should be utilized.

 

[Bricklayer]

Guys, if what people fear is true is true here -- that the Maloofs asked for the extension to ty to get a deal done wiht Anaheim, then don't remotely forget them in your emails. They need to be bombarded by fan mails asking them not to go, and making it clear, in case the Maloofs were hoping for other, that if they choose Anaheim they lose Sacramento's fans. That they are trading in fans with whom they'll always be #1 for fans that have a ton of options. And that they can't half both. Ask them for one more year. Point out the Anaheim deal will still be there a year from now, that Sacto is on notice now, that something will get done. But whatever you say, much as Sacramento has embarrassed itself with its incompetence for a decade now, if its reached a point where the Maloofs are actively looking to strike a deal with Anaheim and have given up on the city, then some real portion of everybody's efforts have to be in convincing the Maloofs to give it one last do or die season.

 

[Section 101]

Yup, I'll be doing the same this week, I'm sending to Council/Mayor, MSE, AND David Taylor. The city and MSE want total control of revenue for any new arena...MSE has offered $10 mill/30 years. The only way this thing gets settled is with a revenue split. The Maloofs should cut their rent in half to $5mill and get 50% of arena revenues and the city should get 50%. Parking is $12 right now, why not raise it to $20 to help pay for the new arena, parking is $35 flat rate at the Oracle in Oakland...$20 is low compared to that. There's alot of other ways to satisfy the costs that can and should be utilized.

I dont think you understand how it works in most arenas. The city would own the building. A company would lease it and run it. This is just like any other landlord and tenant. So yes MSE would get the money from the arena, the city gets it's money from the lease agreement (reported numbers of $10 mil/year for 30 years). In this senario the city should be paying for the building.

Which brings me to my next question/point. So if the city raised $400 mil in bonds to cover the building they would be getting 75% of that back from the lease payments. And with the low interest rates right now that really is a benefit to the city that in the past. A hotel/taxi, whatever tax would be needed to cover the rest of the bonds. Now before anyone mentions the infrastrucsure, that cost is irrelevant if they want to build at the railyards. It needs to be done with or without an arena.

Now if you are talking joint ownership in the property thats another ball game and one I think is doomed from the start.

 

[kennadog]

I dont think you understand how it works in most arenas. The city would own the building. A company would lease it and run it. This is just like any other landlord and tenant. So yes MSE would get the money from the arena, the city gets it's money from the lease agreement (reported numbers of $10 mil/year for 30 years). In this senario the city should be paying for the building.

Which brings me to my next question/point. So if the city raised $400 mil in bonds to cover the building they would be getting 75% of that back from the lease payments. And with the low interest rates right now that really is a benefit to the city that in the past. A hotel/taxi, whatever tax would be needed to cover the rest of the bonds. Now before anyone mentions the infrastrucsure, that cost is irrelevant if they want to build at the railyards. It needs to be done with or without an arena.

Now if you are talking joint ownership in the property thats another ball game and one I think is doomed from the start.

Estimates are that the city will likely have to come up with about $200 million for a $300 to $350 million arena (Taylor/ICON). If some design perks need to be added, that will go up some, but the Amway Center came in under $400,000.

We don't know what could be negotiated as far as ownership right now. Supposedly Taylor/ICON will be talikng to the Maloofs as part of their feasibility study. Unfortunately, Anaheim as a market can blow Sac away with what TV rights would bring in revenue down there. With less revenue from TV rights, arena naming rightsa and no fortune 500 businesses, they Maloofs have to get more from other revenue sources. Like parking, some suites and club seats, other events at Arco, food and beverage concessions, etc. They have to rely a lot on their individual event ticket buyers.

Just remember, if we can't offer them a reasonable revenue stream compared to other cities, they will leave. They want to be able to pay for a compertitive team, a contender. Which is what a good owner should be aiming for.

 

[Circa_1985_Fan]

Estimates are that the city will likely have to come up with about $200 million for a $300 to $350 million arena (Taylor/ICON). If some design perks need to be added, that will go up some, but the Amway Center came in under $400,000.

We don't know what could be negotiated as far as ownership right now. Supposedly Taylor/ICON will be talikng to the Maloofs as part of their feasibility study. Unfortunately, Anaheim as a market can blow Sac away with what TV rights would bring in revenue down there. With less revenue from TV rights, arena naming rightsa and no fortune 500 businesses, they Maloofs have to get more from other revenue sources. Like parking, some suites and club seats, other events at Arco, food and beverage concessions, etc. They have to rely a lot on their individual event ticket buyers.

Just remember, if we can't offer them a reasonable revenue stream compared to other cities, they will leave. They want to be able to pay for a compertitive team, a contender. Which is what a good owner should be aiming for.

Indeed...Sacramento is in a different situation than any other city, so I do believe that both parties involved need to open their minds so to utilize special methods/revenue splits to get this done. They have an opportunity to re-write the blueprint on small market arena funding. I know Orlando got it done with some crafty methods, and it's Sacramento's turn to be just as crafty/creative and FINALLY put it's 'big boy/girl' pants on.

 

[Section 101]

Estimates are that the city will likely have to come up with about $200 million for a $300 to $350 million arena (Taylor/ICON). If some design perks need to be added, that will go up some, but the Amway Center came in under $400,000.

We don't know what could be negotiated as far as ownership right now. Supposedly Taylor/ICON will be talikng to the Maloofs as part of their feasibility study. Unfortunately, Anaheim as a market can blow Sac away with what TV rights would bring in revenue down there. With less revenue from TV rights, arena naming rightsa and no fortune 500 businesses, they Maloofs have to get more from other revenue sources. Like parking, some suites and club seats, other events at Arco, food and beverage concessions, etc. They have to rely a lot on their individual event ticket buyers.

Just remember, if we can't offer them a reasonable revenue stream compared to other cities, they will leave. They want to be able to pay for a compertitive team, a contender. Which is what a good owner should be aiming for.

I dont think they will get more for TV rights. Their contract now is $9.5 mil/year. The Lakers just got a $30mil/year. The Clippers have $12.5 mil deal (http://articles.latimes.com/2009/aug/28/sports/sp-sports-media28). Remember, they would be going head to head against either team on most nights for market share.

I couldnt find anything on the LA Kings, but there is speculation they may be on the Lakers channel since AEG owns part of them.

The Kings wouldnt get any of the naming rights, that belongs to the management company and city. The Kings would just be a tenant remember.

And correct me if I'm wrong, but dont the luxury suites get tickets to all events at the arena as part of the package? So that money is already paid for unless they plan to increase the cost of the suites. They would just get a % of the suites sales.

 

[Section 101]

http://www.nba.com/2011/news/features/scott_howard_cooper/03/01/kings-future/index.html

Pretty much hits what I said on TV contract.

That means the Kings would be trying to win fans in Anaheim as the third-best team in the market and -- with the impact of Clippers rookie Blake Griffin -- the third-most popular. Move 30, 35 miles from Staples Center just as the Kings head to the lottery and the Clippers are riding a rocket ship of popularity? The timing is so, so wrong.

And, yes, all three teams would be in the same market. Anaheim, in Orange County, may like to think of itself as separate from L.A., but the Lakers and Clippers both draw a large portion of fans from behind the Orange Curtain. The important TV ratings, which help set advertising rates, include that area. There is serious money in the OC, but some of it is already spoken for among pro basketball, baseball's Angels and hockey's Ducks.

Can the Kings afford to stay in Sacramento? The better question may be whether they can afford to move.

 

[bajaden]

Estimates are that the city will likely have to come up with about $200 million for a $300 to $350 million arena (Taylor/ICON). If some design perks need to be added, that will go up some, but the Amway Center came in under $400,000.

We don't know what could be negotiated as far as ownership right now. Supposedly Taylor/ICON will be talikng to the Maloofs as part of their feasibility study. Unfortunately, Anaheim as a market can blow Sac away with what TV rights would bring in revenue down there. With less revenue from TV rights, arena naming rightsa and no fortune 500 businesses, they Maloofs have to get more from other revenue sources. Like parking, some suites and club seats, other events at Arco, food and beverage concessions, etc. They have to rely a lot on their individual event ticket buyers.

Just remember, if we can't offer them a reasonable revenue stream compared to other cities, they will leave. They want to be able to pay for a compertitive team, a contender. Which is what a good owner should be aiming for.

I guess that until the Taylor group comes back with its financing plan, assuming that they can come up with a viable plan, we won't know the actual cost, and who pays for what. If the city comes up with 200 mil in bond sales, and the Maloof's pay them back 300 million over 30 years, that would seem like a reasonable deal for the city. I was under the impression that the land that the current arena sits on would be part of the package as a way to help finance the new arena. I have no idea how much that land is worth to developers, but I'm assuming its quite a bit.

So if the Maloof's are going to pay the city 10 mil a year, just how much do they have to make off a new arena to make it all balance out at worse, or make a profit at best. I'm sure they'll have quite a few sellouts, good team or not, just by people being curious to see what the new arena looks like. I'm still hopeful and have all my fingers crossed. Makes it hard to type though.

 

[Glenn]

Guys, if what people fear is true is true here -- that the Maloofs asked for the extension to ty to get a deal done wiht Anaheim, then don't remotely forget them in your emails. They need to be bombarded by fan mails asking them not to go, and making it clear, in case the Maloofs were hoping for other, that if they choose Anaheim they lose Sacramento's fans. That they are trading in fans with whom they'll always be #1 for fans that have a ton of options. And that they can't half both. Ask them for one more year. Point out the Anaheim deal will still be there a year from now, that Sacto is on notice now, that something will get done. But whatever you say, much as Sacramento has embarrassed itself with its incompetence for a decade now, if its reached a point where the Maloofs are actively looking to strike a deal with Anaheim and have given up on the city, then some real portion of everybody's efforts have to be in convincing the Maloofs to give it one last do or die season.

I don't know how to contact the Maloofs. I don't tweet amd I can't find an email address.

 

[Section 101]

I guess that until the Taylor group comes back with its financing plan, assuming that they can come up with a viable plan, we won't know the actual cost, and who pays for what. If the city comes up with 200 mil in bond sales, and the Maloof's pay them back 300 million over 30 years, that would seem like a reasonable deal for the city. I was under the impression that the land that the current arena sits on would be part of the package as a way to help finance the new arena. I have no idea how much that land is worth to developers, but I'm assuming its quite a bit.

So if the Maloof's are going to pay the city 10 mil a year, just how much do they have to make off a new arena to make it all balance out at worse, or make a profit at best. I'm sure they'll have quite a few sellouts, good team or not, just by people being curious to see what the new arena looks like. I'm still hopeful and have all my fingers crossed. Makes it hard to type though.

Dont forget the concerts and other events !

 

[jayzfelon]

Guys, if what people fear is true is true here -- that the Maloofs asked for the extension to ty to get a deal done wiht Anaheim, then don't remotely forget them in your emails. They need to be bombarded by fan mails asking them not to go, and making it clear, in case the Maloofs were hoping for other, that if they choose Anaheim they lose Sacramento's fans. That they are trading in fans with whom they'll always be #1 for fans that have a ton of options. And that they can't half both. Ask them for one more year. Point out the Anaheim deal will still be there a year from now, that Sacto is on notice now, that something will get done. But whatever you say, much as Sacramento has embarrassed itself with its incompetence for a decade now, if its reached a point where the Maloofs are actively looking to strike a deal with Anaheim and have given up on the city, then some real portion of everybody's efforts have to be in convincing the Maloofs to give it one last do or die season.

We need to pest the city officials and the people of sacramento not the maloofs we only have a few days windows. This arena situation needs to get done. Hoping Taylor/ICON group will bring good news and hope this happens less than the 90 days. These politicians need to put their brains together and get this done. Hope they are not just blowing smokescreen to the maloofs. I dont blame the maloofs for considering the move at all with the number of years this has failed.

 

[kingsboi]

I really find it hard to believe that the only place the Maloofs seem to want to move is Anaheim out of all places. I mean if your going to move, you might as well move out of the state of California, IMO. States that are desperate for a basketball team would be willing to show support, but it seems that the Maloofs don't have the mulah to build an arena and it keeps being mentioned that they would take a loan.

 

[jayzfelon]

I really find it hard to believe that the only place the Maloofs seem to want to move is Anaheim out of all places. I mean if your going to move, you might as well move out of the state of California, IMO. States that are desperate for a basketball team would be willing to show support, but it seems that the Maloofs don't have the mulah to build an arena and it keeps being mentioned that they would take a loan.

Its because they already have an arena waiting for them. I dont know of any owners in the nba that owns their own arena. Correct me if Im wrong.

 

[kingsboi]

Its because they already have an arena waiting for them. I dont know of any owners in the nba that owns their own arena. Correct me if Im wrong.

But why would they want to go to a LA market where they would be a third fiddle? Also, why would they go to an arena that isn't much older than Arco itself. It doesn't add up to me what goes on in their brains.

 

[kennadog]

I really find it hard to believe that the only place the Maloofs seem to want to move is Anaheim out of all places. I mean if your going to move, you might as well move out of the state of California, IMO. States that are desperate for a basketball team would be willing to show support, but it seems that the Maloofs don't have the mulah to build an arena and it keeps being mentioned that they would take a loan.

Actually, the Maloofs apparently turned down Samueli's offer of a loan several weeks ago. Didn't want to risk losing their controlling interest, I'm sure. They want a better deal somewhere, but not at that risk, is my guess.

 

[kennadog]

I don't know how to contact the Maloofs. I don't tweet amd I can't find an email address.

If anybody knows one, please post. All I did was go to the Kings website and used the "contact us" e-mail. Got a generic non-response to my pleading e-mail.

 

[Glenn]

If anybody knows one, please post. All I did was go to the Kings website and used the "contact us" e-mail. Got a generic non-response to my pleading e-mail.

@Joe_Maloof for the tweeters. I tried to tweeting through twitter.com with my computer and I think it got through. It's just too darn public.

 

[RookieOfTheDay]

But why would they want to go to a LA market where they would be a third fiddle? Also, why would they go to an arena that isn't much older than Arco itself. It doesn't add up to me what goes on in their brains.

Because they're optimists and impetuous by nature. They think the grass will greener there. In their minds, they probably envision some great LA/OC basketball rivalry will all of OC behind them.

 

[Section 101]

If anybody knows one, please post. All I did was go to the Kings website and used the "contact us" e-mail. Got a generic non-response to my pleading e-mail.

going by my ticket reps email address, its first intial last name @arcoarena.com. Dont know if joe and gavin have them or if someone else checks them.

 

[kingsboi]

Because they're optimists and impetuous by nature. They think the grass will greener there. In their minds, they probably envision some great LA/OC basketball rivalry will all of OC behind them.

Is that the case though?