Kings minority owner talks about move

[Mike0476]

http://www.news10.net/news/local/story.aspx?storyid=131191

Cook compared the deal to move the Kings to a Rubix Cube.

"Just when you think you have one side fixed, something slips up on another side."

Cook said the deal is very complicated and he is keeping his fingers crossed.

 

[RookieOfTheDay]

http://www.news10.net/news/local/story.aspx?storyid=131191

Cook compared the deal to move the Kings to a Rubix Cube.

"Just when you think you have one side fixed, something slips up on another side."

Cook said the deal is very complicated and he is keeping his fingers crossed.

It's just wrong that the minority owners have zero say in this. It should have to be unanimous among the owners.

 

[Brac-o-matic]

He gives them two chances out of ten to stay. 20%. Much higher than most people seem to think, including me. It would be nice if the mayor was trying to raise those odds....

 

[LWP777]

"So you're telling me there's a chance..."

 

[ArcoKings]

I still think there's a chance the Kings stay. The NBA still needs to vote and $77 million is a lot of money to pay for the Arco loan.

 

[ArcoKings]

It's just wrong that the minority owners have zero say in this. It should have to be unanimous among the owners.

Corporate by-laws.

 

[Glenn]

Did everybody forget that the Maloofs own 51%? Although they are the managing partners and can tell the minority partners to go to hell, is that what happens? These are humans and the Maloofs certainly are just as human as anyone and they have to deal with the minority man to man as well as majority owner to minority owner.

Some how the Maloofs talked the minority owners into putting up a large amount of money. For many of them this was dependent on the team being in Sacramento. If these minority owners were smart way back when, they would have had the partnership agreement written so that if the team left Sacramento, the Maloofs would have to buy them out or someone would have to buy them out. If they don't have that kind of contract, they had an extraordinary faith that the team would stay in Sacramento. This faith would have had to have come from a good sales job by the Maloofs.

Not pointing fingers or insinuating anything - just a thought based on no real facts.

 

[RookieOfTheDay]

Corporate by-laws.

Yeah well whatever it's called, it stinks!

 

[PurpleHaze]

Once again this says it all (from Bob Cook): "It's not the Maloofs fault if this team moves, it's the city of Sacramento's fault... so the arena is the issue, it's just taken way to long."

 

[RookieOfTheDay]

Once again this says it all (from Bob Cook): "It's not the Maloofs fault if this team moves, it's the city of Sacramento's fault... so the arena is the issue, it's just taken way to long."

Part of why it's taken so long is The Maloofs, though.

 

[pdxKingsFan]

Did everybody forget that the Maloofs own 51%?

I thought I read somewhere it was closer to 60%, so even if they have to sell back some interest to the city (as part of the $77 mil) or Samueli or whoever they have a little bit of cushion to remain majority owners.