Marcos Breton: Maloofs' future success anything but a slam dunk

[Tetsujin]

http://www.sacbee.com/2012/02/05/4240044/marcos-breton-maloofs-future-success.html

Interesting look at the joke that is the Maloofs ownership of the Kings and support for the new arena in general

One positive tidbit though:

At the former Arco Arena, plans are being made to begin selling season tickets for next season in a big campaign that would kick off next month. Corporate sponsors are already being approached.

These efforts are not connected to negotiations for a new arena, but they do point toward the Kings playing in Sacramento next season.

Looks like we'll have them for one more season at the very least.

 

[PurpleHaze]

I notice nearly all Bee news reports and opinion pieces (such as this one) now refer to current arena as, "the former Arco Arena," instead of Power Balance Pavilion. It's like they realize to call it by name still plastered on the building is an embarrassing joke, considering lawsuits claiming the product is a scam. Secondarily, I think I still see some Kings players wearing the worthless wrist bands in team color purple? Howdy doody!

 

[Warhawk]

I think the one thing some people are ignoring is that KJ is former NBA and has a DIRECT line to Stern that he uses VERY frequently. The NBA has also effectively been running many of the operations of the Kings since KJ showed up at the owners' meeting last year. There is a lot more that KJ knows than he lets on and like a good politician he isn't letting everyone else in on it until need be.

I feel pretty darn positive that the Kings will stay. Not that it's a slam dunk or anything, but I think it's going to work. Somehow, some way, we'll get the $$$ sorted out for a new arena.

 

[ElRey]

This article pretty expresses what most of us Kings Fans on here have been saying. Maloofs are broke, and just cannot carry a competitive team. Wish the NBA would intervene. Donald Sterling is cheap, but at least he's not broke.

 

[Tetsujin]

This article pretty expresses what most of us Kings Fans on here have been saying. Maloofs are broke, and just cannot carry a competitive team. Wish the NBA would intervene. Donald Sterling is cheap, but at least he's not broke.

Wouldn't be surprised if the NBA does step in once the arena deal solidifies.

 

[ParniValjak]

The article raises some very valid questions that some of us have been asking for a while!

Its all well and good to be rich and own a team but are you NBA owner rich?! In other words, can you afford to be making losses every year but put a contender on the floor and the answer to that is NO when it comes to the Maloofs.

I just cannot see them sustaining this long terms. They agreed to borrow money from Samueli just to pay the re-location fee! I am quietly confident that the arena deal will get done and Sacramento will hold up their end of the deal but I am not convinced that Maloofs can and will have to sell eventually! I hope that is sooner rather than later but eventually they won't have a choice.

The only problem is that they are leveraged to the max and whoever ends up buying the Kings will end up inheriting a debt that is bigger than the value of Maloof's majority ownership! The only own something like 52% which is somewhere around $100-150 million but the team's debt is bigger than that so who ever is buying from them will need to be prepared to pony up some $300 million over time just to get 52% ownership which in the big scheme of things is a small portion of the team. It needs to be someone super rich ala Burkle!

 

[fansinceday1]

What will the NBA do if the only thing holding up the financing deal is the maloofs inability to contribute their share?

 

[Circa_1985_Fan]

What will the NBA do if the only thing holding up the financing deal is the maloofs inability to contribute their share?

We should know the answer to THAT pretty soon.

 

[Section 101]

What will the NBA do if the only thing holding up the financing deal is the maloofs inability to contribute their share?

From the article today it sounds like the NBA will be loaning the money for the difference if the city picks up the $200 mil from the parking.

 

[kennadog]

Well Breton wasn't saying anything that hasn't been obvious to most Kings fans for a while now.

 

[JB_kings]

From the article today it sounds like the NBA will be loaning the money for the difference if the city picks up the $200 mil from the parking.

Would this blog from Ailene Voisin support what you read?

There will be plenty on this issue in the upcoming weeks, but since the Sacramento arena issue has been part of the arena discussion these past few days in Seattle, here is the latest from the Northern California end: David Stern absolutely wants another franchise in Seattle - the Sonics' departure four years ago remains a sore spot within his administration - but he doesn't want it to be the Kings, which would tarnish his legacy after a brutal offseason, protracted labor dispute and his personal attempts to solidify the Kings future here these last several years.

Also, the last thing Stern (and his fellow owners) wants is the relocation of another team with a history of stability and success - albeit, of late, addled by some serious mismanagement. Thus, he continues to work behind the scenes with Mayor Kevin Johnson on the financing of a new sports and entertainment complex in the downtown Railyards. Assuming the community and Sacramento politcal/business leaders continue making progress toward the financing of a new facility, I keep hearing Stern will remain committed to Sacramento. Given the stunning last-minute reprieve when the Kings appeared head to Anaheim last April, nothing would surprise me. I keep hearing whispers that Stern has a dramatic play yet to come - something "up his sleeve," as they say.

Read more here: http://blogs.sacbee.com/sports/kings/archives/2012/02/its-about-sacra.html#storylink=cpy

 

[Bricklayer]

Would this blog from Ailene Voisin support what you read?

There will be plenty on this issue in the upcoming weeks, but since the Sacramento arena issue has been part of the arena discussion these past few days in Seattle, here is the latest from the Northern California end: David Stern absolutely wants another franchise in Seattle - the Sonics' departure four years ago remains a sore spot within his administration - but he doesn't want it to be the Kings, which would tarnish his legacy after a brutal offseason, protracted labor dispute and his personal attempts to solidify the Kings future here these last several years.

Also, the last thing Stern (and his fellow owners) wants is the relocation of another team with a history of stability and success - albeit, of late, addled by some serious mismanagement. Thus, he continues to work behind the scenes with Mayor Kevin Johnson on the financing of a new sports and entertainment complex in the downtown Railyards. Assuming the community and Sacramento politcal/business leaders continue making progress toward the financing of a new facility, I keep hearing Stern will remain committed to Sacramento. Given the stunning last-minute reprieve when the Kings appeared head to Anaheim last April, nothing would surprise me. I keep hearing whispers that Stern has a dramatic play yet to come - something "up his sleeve," as they say.

Read more here: http://blogs.sacbee.com/sports/kings/archives/2012/02/its-about-sacra.html#storylink=cpy

Stern is one amazing figure. Most power players only have a certian number of plays in them. They get worn down, take a few shots, support starts to erode, they get tired and leave the game etc. But Stern has just been relentless for 30 years now. No matter what turn things take he's always got something else up his sleeve, always right back into the fray.

 

[JB_kings]

Hate even reading Bob Graswich... but this was worth repeating his Tweet:

Mayor Johnson to attend NBA all star game this month & meet with Commissioner Stern on keeping Kings in Sac. Term sheet close.

 

[Section 101]

Hate even reading Bob Graswich... but this was worth repeating his Tweet:

Mayor Johnson to attend NBA all star game this month & meet with Commissioner Stern on keeping Kings in Sac. Term sheet close.

See here is the problem for the NBA. If the city comes up with a big portion of the money, ie the parking at $200 mil. And we have a few other sources that gets it to around 75% of the money. The city is going to need some assurances that the team is staying. Meaning if the city sells the parking to build the arena there needs to be a guarantee the team stays. Otherwise, the league is opening it self up to cities not building new arena's if there is any question on the team staying.

 

[JB_kings]

Interesting possibilities. Who is the name on the loan? Is it MS&E? If so, it tightens the NBA grip on the franchise. Perhaps after all this is done, the Maloofs may only have enough cash from the sale of the Kings to buy one of the Carl's Jr Burgers and a bottle of wine.

 

[ArcoKings]

If the Maloofs have to present a financial report for purposes of the arena financing they will be finished as owners of the Kings. The NBA will squeeze them out. The Maloofs will not have a leg to stand on.

 

[Tetsujin]

If the Maloofs have to present a financial report for purposes of the arena financing they will be finished as owners of the Kings. The NBA will squeeze them out. The Maloofs will not have a leg to stand on.

C-Webb/ Magic Johnson/ Ron Burkle Ownership team here we come!