Kings $

#1
There have been two stories brewing for at least 5 months with almost no local coverage. They might be nothing. They might be good. Who knows?

1. 10% of the Kings is reportedly up for sale.

2. There are fairly significant payment issues regarding the team condos. Lawsuits and a lien on the building. The company line is that payment disputes are not uncommon for a project of this size. This is NOT a repeat of me saying "Hey, I think the Maloofs have cashflow issues" several years ago.

But, if there is news on either it might be interesting to some of us.
 
#3
I agree that these two things may be 'nothing' or not tied together at the very least.

BUT, both are still peculiar. I would have thought the payment issues would have been resolved already. I don't get what's going on there.

And VF21 is right. Who's 10% is for sale?

Lastly, if Vivek was having $$ issues, I wouldn't think he'd have put together an all-star bid. But who knows.
 
#4
Who’s 10%? Who is bidding? Does Vivek have the 1st right of refusal? If he doesn’t get it and the person that does goes over his 17% is there a provision that makes the biggest share the managing partner? Seems like some questions that someone in town might want to ask and report over 6 months.

Is the protracted bidding war impacting Sawyer payments? What about the glacial pace of construction at the mall?

Could be nothing. Who knows
 

VF21

#KingsFansForever
Staff member
Contributor
#5
Who’s 10%? Who is bidding? Does Vivek have the 1st right of refusal? If he doesn’t get it and the person that does goes over his 17% is there a provision that makes the biggest share the managing partner? Seems like some questions that someone in town might want to ask and report over 6 months.

Is the protracted bidding war impacting Sawyer payments? What about the glacial pace of construction at the mall?

Could be nothing. Who knows
Negotiations on sales of private stock are not required to be nor should they be subject to public scrutiny. Final terms of the sale? Sure, if there is an impact on any of the legal obligations of the owners. I know we all want to know everything that we think we should know, but that's simply not the case.

I seriously doubt BTW if Vivek is having money issues. I suspect this may be a consolidation of some of the smaller investors. I hope Shaq is one of them. :p
 
#6
Negotiations on sales of private stock are not required to be nor should they be subject to public scrutiny. Final terms of the sale? Sure, if there is an impact on any of the legal obligations of the owners. I know we all want to know everything that we think we should know, but that's simply not the case.

I seriously doubt BTW if Vivek is having money issues. I suspect this may be a consolidation of some of the smaller investors. I hope Shaq is one of them. :p
Shaq being consolidated into a bigger piece or smaller?
 

VF21

#KingsFansForever
Staff member
Contributor
#9
Shaq's ownership is just a status thing. Not like he's involved with the team. He hasn't been back since the first season.
It's the principle of the thing. He's a part-owner and he still goes on TV and calls us the Queens. Any feeling other than intense dislike for him I may have temporarily harbored is long gone. I don't want his name associated with our Kings. :)
 
#10
It's the principle of the thing. He's a part-owner and he still goes on TV and calls us the Queens. Any feeling other than intense dislike for him I may have temporarily harbored is long gone. I don't want his name associated with our Kings. :)
Okay. All is still alright. Given the history, he was an odd fit.
 
#11
There have been two stories brewing for at least 5 months with almost no local coverage. They might be nothing. They might be good. Who knows?

1. 10% of the Kings is reportedly up for sale.

2. There are fairly significant payment issues regarding the team condos. Lawsuits and a lien on the building. The company line is that payment disputes are not uncommon for a project of this size. This is NOT a repeat of me saying "Hey, I think the Maloofs have cashflow issues" several years ago.

But, if there is news on either it might be interesting to some of us.
As a fan, this is something definitely worth watching, as financing truly dictates what we can do as a team. Unfortunately I've found there's very little coverage of Kings ownership & financing issues (only an ESPN in-depth piece and former employees talking bad about Matina K over Twitter), but interesting to watch nonetheless especially considering past issues with the Maloofs, and honestly, Sacramento being a small market team without the base funding of bigger cities. If we start making more cash consideration and dumpster-diving moves ala the late 00s, this might be a sign that $ is tight.

Really tough to hear about the downtown Sawyer building having financing issues. Sac's downtown really needs more full-time residents to keep the neighborhood active (and support all that retail going in), but developers haven't been able to create much housing as the numbers haven't worked out. Hopefully there's no continued issues that prevent this building from filling out, as well as preventing other developments from seeing the light of day... it will be really tough for all those retail & restaurant establishments to survive long-term without some sort of sustainable neighborhood within proximity.