KJ leaves in the middle of press conference to take a phone call

[The Hammer]

Nope. Could just sell to him or he could just finance one of the minority owners to purchase the majority share.

I got the nope part. Didn't understand the second sentence. What now?

 

[kennadog]

It's a partnership. The managing partners could have a 1% interest and still manage the team. To change the managership, the partnership agreement would have to be re-written.

Not sure the current partnership is written that way. The minority owners don't want the team to move, but the Maloofs have the majority ownership interest in the franchise. (51-53% range-I read different %). So there may or may not be a "managing partner." However, with the majority ownership, the Maloofs can always out vote the minority interest holders on any decision.

 

[Glenn]

Not sure the current partnership is written that way. The minority owners don't want the team to move, but the Maloofs have the majority ownership interest in the franchise. (51-53% range-I read different %). So there may or may not be a "managing partner." However, with the majority ownership, the Maloofs can always out vote the minority interest holders on any decision.

We need legal advice as to the difference between a partnership where stocks are not involved and the ownership of the Kings. Or at least the potential. I swear I have seen partnerships where no entity had a majority but it was written into the agreement as to who the managing partner was. Some people want to be partners and do nothing and some want to do everything. In this agreement, a simple up or down vote of the partners could remove the managing partner setting up pretty clear cut set of situations in which that could be done.

 

[nickmcclure]

Quick article listing as many details about the call as were available. It was a "private call" but it definitely sounds Kings related anyways.

http://www.kfbk.com/pages/robmcalliste.html?article=8501366

If by "definitely" you mean "possibly not at all" then yeah. What's amazing is that that article has so many words for absolutely no info.