Local buyer reportedly enters the picture!

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Does anyone know the difference between keeping the team here and a relocation to Seattle would be? I see the $77 million figure thrown around a lot, but have also read other various debts/loans that would affect the price tag for the Seattle group.
 
The_Jamal said:
Does anyone know the difference between keeping the team here and a relocation to Seattle would be? I see the $77 million figure thrown around a lot, but have also read other various debts/loans that would affect the price tag for the Seattle group.
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Relocation fee is chief among these. Can't forget the NBA debt as well. Plus you have to factor in the other associated costs of the move (AKA severing sponsorships, etc.)
 
Also lost in all the noise but still (a scratch) somewhat significant...

iffy Lube Sac ‏@jiffylubesac Jan 9
... @KJ_MayorJohnson 2 support new owners/arena JL willing 2 invest 1% of cost to build arena via a corp. sponsorship (details TBD) #kings
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The_Jamal said:
Does anyone know the difference between keeping the team here and a relocation to Seattle would be? I see the $77 million figure thrown around a lot, but have also read other various debts/loans that would affect the price tag for the Seattle group.
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i think ive heard that a local buyer could basically offer around 200mil less than seattle and still net the Maloofs the same in pocket amount
 
He's not the only either!

Dale Kasler ‏@dakasler
More "local" bidders surfacing for #NBAKings incl Sleep Train's CEO and 24-hour Fitness founder
Retweeted by Crown Downtown
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Dave Carlson continues his rise into Sacramento sainthood
 
After working out at 24 hour fitness, I'll have to climb into my Sleep Train bed. For-freaking-ever.
 
Awesome. Mastrov lives in my neck of the woods. If I knew he might do this I wouldn't have cancelled my 24 hr membership.

But investors wanting a shot was bound to happen. There's more potential owners out there than there are NBA teams. Only question is can KJ put this together quickly enough.
 
Tetsujin said:
Relocation fee is chief among these. Can't forget the NBA debt as well. Plus you have to factor in the other associated costs of the move (AKA severing sponsorships, etc.)
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Well to keep it real, they would be creating new sponsorships in Seattle, and probably more lucrative.

The loan to the city is $64 million with $14 million in interest, so $77 million to the city. It's a loan, they could very well pay off that loan with a loan... so to count that as a $77 million "discount" as others seem to be doing isn't correct.

There's the issue of the $150-219 million the team owes the NBA, but that's likely paid off from what the Maloofs get from the sale.

So the real discount comes down to the $30 minimum relocation fee. That's still a hefty discount for keeping the Kings in Sacramento. We'll see how it plays out. The people with the deepest pockets don't always win.. or Larry Ellison would own the Warriors right now..
 
rainmaker said:
Awesome. Mastrov lives in my neck of the woods. If I knew he might do this I wouldn't have cancelled my 24 hr membership.

But investors wanting a shot was bound to happen. There's more potential owners out there than there are NBA teams. Only question is can KJ put this together quickly enough.
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We can only hope the Maloofs are willing to listen. They seem like a spiteful bunch lately.
 
spudfan said:
We can only hope the Maloofs are willing to listen. They seem like a spiteful bunch lately.
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They can't deposit spite into their starving bank accounts. At the end of the day, money will talk and the Maloofs will listen. That's my theory and I'm sticking with it.
 
spudfan said:
We can only hope the Maloofs are willing to listen. They seem like a spiteful bunch lately.
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They don't have to. The league can reject the Seattle offer in order to force MSE to sell to a local buyer if they are submitting valid, competitive offers.
 
Rob McAllister ‏@Rob_McAllister
Former Kings executive Greg Van Dusen says his investor group will continue to pursue team. Will make a qualifying offer to NBA.
 
sauce-26 said:
I cant listen to the show. What has/is he saying?
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Well first off he played the scathing remarks by Barkley last night about the Maloofs. Barkley just trashed them and said Stern needs to step in and make them sell and that they were screwing the city of Sacramento. While Grant did say the Maloofs had a right to sell their business, he doesn't seem to have his nose planted squarely up their *sses as he usually does.
 
The_Jamal said:
Does anyone know the difference between keeping the team here and a relocation to Seattle would be? I see the $77 million figure thrown around a lot, but have also read other various debts/loans that would affect the price tag for the Seattle group.
Click to expand...

Hansens bid includes paying off the NBA debt too and other relocation expenses like the fee. That's why it's so inflated.
 
Seems like interested buyers are popping out all over the place to keep the team in Sacramento. I don't see how Stern could have any justification for moving the team if we have a competitive offer to the Seattle group. City support, fan support, 20th largest market in the U.S with the Kings as the only pro team.
 
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