LATEST from VA Beach

[Mike0476]

Arena town hall forum held in Va. Beach (with video of what took place)

http://www.wavy.com/dpp/news/local_news/va_beach/arena-town-hall-forum-held-in-va-beach



VA Beach Arena FAQ (Updated 12-18-12)

http://www.yesvirginiabeach.com/news-publications/Documents/Arena FAQ - Updated 12-18-12.pdf

 

[Mike0476]

A few interesting examples:

And how much would the debt payments be?

$19.7 million a year for the City.

What if there are cost overruns? Who will pay for that?

The cost estimate includes a contingency for some cost increases. The team would pay for some parts of the arena dedicated to team operations. The rest is subject to negotiation.

When will the city announce the name of the team?

As soon as we’re sure we have a contract. That could be in February or March.

 

[Circa_1985_Fan]

Ladies and gentlemen, you're Virginia Maloofs!

Edit: I think its pretty apparent its the Kings, beings they're not paying for much at all in this deal, just how Georgie wants it.

 

[HereWeBoogie]

not good

 

[Siranthony]

If VB really wants the Maloofs knowing what everyone knows, it's sad. Sacramento has been used, abused, shook down and left at the alter. Yet other cities are lining up for more. It really sets a president if it happens. All cities will be held hostage to the NBA.

 

[Brac-o-matic]

I still doubt that the NBA would ever approve this. They want a team in Sacramento. They want a team in Seattle. They would have neither...but they'd have a team in tiny, unproven Virginia Beach? Good luck, Maloofs.

 

[Warhawk]

Seriously. Just wait until they actually try to negotiate anything with George. They will soon find that the requested amount for moving the team changes by a factor of 3, they want an "out" clause after the first 32.578 days of signing the contract ("just in case!"), they want to get paid in gold coins stacked on a magic carpet every time they enter the arena back door ("just for showing up"), and a new moon base for arena operations.

I mean, really, they don't know what they are really getting into with these owners.

 

[Jose]

When will the city announce the name of the team?

As soon as we’re sure we have a contract. That could be in February or March.

Contract? What contract? They won't sign anything binding until they've squeezed every penny possible out of the deal. And still, they may exercise their right to change their mind for the good of the city.

Get ready to get jerked around, VB... the first sign should be when they delay signing anything and petition the NBA for an extension of the deadline for filing for relocation. Let the games begin!!!!

 

[Kingsfan23]

It's concerning now, no doubt. As long as they press forward with the earnest they are, you have to believe they think they have something

 

[Mike0476]

If you haven't already on Twitter follow @aaronbruski for the latest insider news on the Kings situation. His reports are the #BestInTheWorld

"Kings fans -- absolutely nothing has changed in the VA Beach situation following TV reports confirming old news. Still a 90-foot heave." - Aaron Bruski

 

[LWP777]

Virginia Beach Kings? NO chance. The NBA won't allow it unless somehow the Magoofs take this to the courts and prevail. It's really just so sad and so silly.

 

[upinsmoke]

It's concerning now, no doubt. As long as they press forward with the earnest they are, you have to believe they think they have something

Don't give them so much credit. They're backs are against the wall financially and even worse everyone knows it. Thanks to their own arrogance and poor business/gambling sense they find themselve's in a position where nobody is looking to overspend or bail them out. Looks like a bright kid with a jumper from South Sac bested the maloof family on this one. The NBA and MSE still can't bealive we were able to put a deal on the table in such a small amount of time but we did and now the ball in their court.