KJ's press conference and other latest news, rumors, etc.

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VF21

VF21

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It seemed like a logical time to break the old thread and start a new one. :)

The Mayor's press conference is set for 11 a.m. PST. Speculation is running rampant on local TV that this is when the whales will be named. It would be perfect timing since the city council meets tonight and an arena situation update is on the agenda.

GO KJ!

And thanks once again to Mike and all the members of Crown Downtown for continuing to represent all of us who cannot be there in person. If you can attend the City Council meeting tonight, it would be the perfect time to do so. More info.
 
VF21 said:
It seemed like a logical time to break the old thread and start a new one. :)

The Mayor's press conference is set for 11 a.m. PST. Speculation is running rampant on local TV that this is when the whales will be named. It would be perfect timing since the city council meets tonight and an arena situation update is on the agenda.

GO KJ!

And thanks once again to Mike and all the members of Crown Downtown for continuing to represent all of us who cannot be there in person. If you can attend the City Council meeting tonight, it would be the perfect time to do so. More info.
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Where did you see that there is a presser? Nowhere on Twitter
 
WALTtheWIZ said:
Where did you see that there is a presser? Nowhere on Twitter
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http://www.sacramentopress.com/head...ce_Sacramento_Kings_and_the_state_of_the_city

We'll be covering Mayor Kevin Johnson's weekly press conference this morning at 11 a.m., and later tonight the Sacramento City Council meeting, during which Sacramento Assistant City Manager John Dangberg will give a report on the status of the Kings.
According to a press release, Johnson will be addressing "several issues including the upcoming State of the City and the latest on the Sacramento Kings."
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Well, that was ... nothing.

He basically said they're working diligently and they're close to announcing the major equity players. He stressed the complexity of what they're doing.

Translation: KJ is NOT going to name names until the i's have been dotted and the t's are crossed. Which, while frustrating for those of us waiting for anything positive to cling to, is the best way to proceed. The last thing you want to do is announce someone's participation and then have them back out.
 
nebs said:
You can usually watch it on the Sac City Council Website.. http://sacramento.granicus.com/MediaPlayer.php?publish_id=26
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Thanks!

So, they are still studying the details and hope to announce the "whales" later this week or next. He would like to give the NBA 2 weeks to review our "offer" but may take until March 1 to get the details sorted out. Not just about team ownership but also about potential arena location and get the details hammered out on that as best as possible.
 
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Thanks for adding more details, Warhawk. Either my sound card is going out on my computer or I'm going deaf because it was almost impossible for me to hear.

EDIT: Just switched to the city council link and the sound is fine. Must have been the news10... Whew. ;)
 
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1. Put ownership group together that can put forth a bid that's competitive with Seattle's.
2. Present a proposal for a new arena with continuing cooperation between the city of Sacramento and the NBA.
3. Stress to the NBA the ongoing symbiotic relationship between the Kings and the city and people of Sacramento and Northern California.

He was asked about "worst case scenario" and what we would do if the Kings left, meaning would we go for another team. KJ basically said that while it's a legitimate question it's not the current mindset. He said we're not going to lose our team and we're not going to lose 1,000 jobs. (Gotta say it again - I LOVE his attitude!)
 
He is saying that to be in the position they are in now has taken a tremendous amount of work to date and they are working basically around the clock to get all the details put together. They are not having trouble getting dollars together. In fact, they have "lists" of people to be supplemental equity investors to see if/how they can fit in.

they are doing 3 things:

1. Assemble ownership group
2. Figure out arena situation.
3. Show how one pro team, one market, shows incredible support and promise for the only pro team in town. Need to detail that well. We have done everything asked of us to keep the team.

Wants to get an arena downtown for the economic multiplier effect. Thinks it will be VERY difficult to get an expansion team if the Kings leave.

The City is very informed on railyards site. Getting more information on the Plaza site and needs to compare all the pros/cons including financing options.

City manager: No, they are not taking sides on the possible arena site. They are open to either.
 
I have to revise my earlier comment. This has actually turned into a fairly informative presser. KJ didn't duck any questions and he even had the City Manager address the question of which arena site they currently favor. The answer was neither at this point. The city supports a downtown arena - they're going to continue to do their due diligence and answer all the questions and support the most feasible alternative.

KJ says he'll be at the All-Star game. When asked if he'll be lobbying the owners, he said "I'll be talking to anyone who will listen. I'll be lobbying the mascots!"
 
KJ will be at the All-star game. He said anyone who will listen will hear from him on the benefits of Sacramento. He will lobby the team mascots if it will help. ;)
 
I see that VF and I were double-teaming. Hopefully between the two of us you got the basics of what was discussed.
 
Just to be clear, these city press conferences are usually done on Tuesdays to talk about city council meeting business/agenda items. So adjust the thinking to this being a regular scheduled press conference that included an update on the Kings/arena situation.
 
We just want to take this opportunity to invite everyone to join us at the Sacramento City Council meeting tonight! Shouldn't take long and would be very nice to see a sea of white there at the meeting. If you have a Crown Downtown shirt, please wear it!
 
My two cents on the FROR... I think it's a good tool to have in the box. Although I think the city is right in publicly keeping their focus on forming an ownership group and agreed upon arena plan. Sort of a speak softly, but carry a big stick approach. I think it serves as a road many would not want to travel type of deterrent. Nobody wants to see any sort of long legal battle. Including the Maloofs. I'm sure at some point it will become clear that the path of least resistance is to reject the Hansen offer and accept the Mastrov-Burkle deal.
 
JB_kings said:
My two cents on the FROR... I think it's a good tool to have in the box. Although I think the city is right in publicly keeping their focus on forming an ownership group and agreed upon arena plan. Sort of a speak softly, but carry a big stick approach. I think it serves as a road many would not want to travel type of deterrent. Nobody wants to see any sort of long legal battle. Including the Maloofs. I'm sure at some point it will become clear that the path of least resistance is to reject the Hansen offer and accept the Mastrov-Burkle deal.
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However, there is an implied deadline for the FROR. The agreements say that the partners have 30 days to exercise their FROR, starting on the day they are given notice that another partner is selling. You can't carry this "big stick" for too long...

Question is... does the "announcement" constitute "notice"? Were the minority owners given actual, formal notice that the majority stake was going up for sale? I'm sure KJ and the other people working on this know this so they won't let this "weapon" expire.
 
Jose said:
However, there is an implied deadline for the FROR. The agreements say that the partners have 30 days to exercise their FROR, starting on the day they are given notice that another partner is selling. You can't carry this "big stick" for too long...

Question is... does the "announcement" constitute "notice"? Were the minority owners given actual, formal notice that the majority stake was going up for sale? I'm sure KJ and the other people working on this know this so they won't let this "weapon" expire.
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No it doesn't. They have to send formal notice to the partners. And once that notice has been received, they have 60 days to respond. Not 30.
 
Of course, they are right to focus on ownership and arena - you need both carrot and a stick in negotiations.
 
KJ had said this would be happening. While the Seattle owners have filed the request for relocation, it will only be acted upon if and when the sale to that group is approved.
 
I think it's pretty slim odds that the NBA won't approve it, And in the latest NBA article today, Stern was stating that the proposal(group to buy the Kings) looks very strong....So I'm thinking the chances are extremely slim that they will stay here...I have to think with my head and not my heart. My heart wants them to stay, but I think it's too late.... I can't let my emotions get in the way of what I think is going to happen.... It's been a fun ride though...
 
KingsFanatic said:
I think it's pretty slim odds that the NBA won't approve it, And in the latest NBA article today, Stern was stating that the proposal(group to buy the Kings) looks very strong....So I'm thinking the chances are extremely slim that they will stay here...I have to think with my head and not my heart. My heart wants them to stay, but I think it's too late.... I can't let my emotions get in the way of what I think is going to happen.... It's been a fun ride though...
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nope, he called the group strong, not the proposal.

Also, the application for relocation was obviously going to happen. However, that is all in the queue. The NBA BOG has to approve the sale first and then IF that occurs, the relocation process would be a formality.
 
Fear the Putin said:
nope, he called the group strong, not the proposal.

Also, the application for relocation was obviously going to happen. However, that is all in the queue. The NBA BOG has to approve the sale first and then IF that occurs, the relocation process would be a formality.
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fair enough, but it just seems to be the momentum behind keeping the Kings here isn't near as strong as it was in the "here we build" days... Almost get the feeling that people are drained and time is running out.... The first time they were about to leave, the news was everywhere here in Sacramento, but now it's not appearing as people care as much....I think people are just sick of the whole thing....
 
KingsFanatic said:
I think it's pretty slim odds that the NBA won't approve it, And in the latest NBA article today, Stern was stating that the proposal(group to buy the Kings) looks very strong....So I'm thinking the chances are extremely slim that they will stay here...I have to think with my head and not my heart. My heart wants them to stay, but I think it's too late.... I can't let my emotions get in the way of what I think is going to happen.... It's been a fun ride though...
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I think it's pretty slim odds that your opinion will be remotely close to reality when it's all said and done.

Have you not been paying attention the past couple weeks? The minority owner's first right of refusal case aside, the consensus of the situation is .. if Mayor Johnson is able to put together a viable ownership group with an arena deal in place, the team is going to stay in Sacramento. The NBA is not going to move a team from a proven market to an unproven market when they've got an iron clad ownership group and arena deal in place. And, yes, I said unproven market as Seattle's attendance numbers weren't exactly stellar well before the Sonics moved (only sold out something like 3 seasons during the 90's) AND they have multiple pro teams to compete with AND many fans may not come back to the NBA after having their heart ripped out.
 
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