Meeting with Mastrov and latest news, etc.

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Is the announcement even that important really? The important thing is what's happening behind the scenes and so far we already know that Stern is involved. They may wait to make the announcement until they are full proof solid on all points. After the last ordeal I'd bet KJ will want everything written down in triplicate.

The announcement may not be that important, but the $30M deposit is. If Hansen throws down the $30M, it fixes the sale price at $525M. If he backs out, then the deal is off and the price is open to negotiation.

They may be waiting to see what happens there so they know exactly what kind of deal they're getting into.
 
The announcement may not be that important, but the $30M deposit is. If Hansen throws down the $30M, it fixes the sale price at $525M. If he backs out, then the deal is off and the price is open to negotiation.

They may be waiting to see what happens there so they know exactly what kind of deal they're getting into.

I don't think its that big a deal for them to be honest. $30 million is a chump change for them! I am 99.9% certain that Hansen will pay the agreed deposit! At this point he has nothing to lose.

He has an agreement in place to buy the team. At this point, the time is on his side as he is well ahead of Sacramento in his quest. Remember his deal is getting checked by the NBA as we speak where as Sacramento is yet to present a comparable offer. Considering who Hansen has in his ownership group, they would make that $30 million in a day. When you really think about it, its nothing for them but a lot for the Magoofs.
 
Why? The Lakers and Clippers play in the same building. Why couldn't there be teams in Oakland and San Jose?

The Clippers and Lakers were already established in the LA market when they decided to play in the same building. I think it's tacky and have been outspoken about one or the other having their own arena but it still doesn't change the fact that they were both established LA teams.

Right now, the Warriors are the only team in the bay area. They paid a record price for the team and are committed to an SF arena. The BOG will do what it takes to make sure they're the only team in the bay area since both the NBA and the Warriors want it that way.
 
Not enough fan support.

Despite what I wrote above, I think there is enough fan support for a 2nd bay area team but Lacob doesn't want competition and you can't blame him when considering the financial sacrifices that he's making. Because of that, the NBA has his back.
 
Not exactly a Kings article, not even a basketball article, but Kings efforts are mentioned nonetheless. The Phoenix Coyotes (NHL) are having their own ownership troubles, and the Kings situation is mentioned briefly. Strange that the ESPN hockey writers do more research on the Kings than their NBA writers. :D

*There are plans to build a new arena in Seattle if the proposed sale of the NBA's Sacramento Kings to a group that includes investor Chris Hansen and Microsoft chief executive Steve Ballmer is completed. It's believed the city and Hansen would welcome an NHL owner to share tenancy in a new building.

But the franchise's departure from California isn't guaranteed, and Ron Burkle, co-owner of the NHL's Pittsburgh Penguins, recently met with NBA commissioner David Stern about keeping the Kings in Sacramento.*

http://espn.go.com/nhl/story/_/id/8...oduce-capital-purchase-team-according-sources


I am starting to have a conspiracy theory about this. NHL commish Bettman & Stern are close, they used to work together after all and Burkle was an important part of ending the NHL lockout earlier this month.
 
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Despite what I wrote above, I think there is enough fan support for a 2nd bay area team but Lacob doesn't want competition and you can't blame him when considering the financial sacrifices that he's making. Because of that, the NBA has his back.

Whether there's enough fan support or not is debatable, but lets face it, in LA your talking about far more people than live in the bay area. If you took the total population of LA, and its surrounding areas, and split it in half, that half would still be greater than the population base of the bay area.
 
http://blogs.sacbee.com/city-beat/2013/01/city-hall-analyzing-potential-arena-at-downtown-plaza.html

In another indication of how seriously City Hall is taking the prospect of an arena at Downtown Plaza, City Manager John Shirey's office has launched a feasibility analysis of the site.

That analysis will examine the different locations at the Downtown Plaza site where an arena could fit, an arena's impact on utilities and the transportation infrastructure near the site.

Councilman Allen Warren, who sits on a City Council subcommittee exploring the arena issue, also requested weekly updates to the council on the ongoing Kings saga.

"Things are moving very quickly," he said.

Obviously it's all speculation on my part, but it looks like a lot of behind the scenes fast tracking action going towards the downtown plaza, as that is the preferred spot for Burkle.

They have until April from what I believe to get the logistics figured out and present a solid, kevlar wrapped plan to the BOG with Burkle/Mastrov/Downtown plaza arena all set in place.
 
http://blogs.sacbee.com/city-beat/2013/01/city-hall-analyzing-potential-arena-at-downtown-plaza.html



Obviously it's all speculation on my part, but it looks like a lot of behind the scenes fast tracking action going towards the downtown plaza, as that is the preferred spot for Burkle.

They have until April from what I believe to get the logistics figured out and present a solid, kevlar wrapped plan to the BOG with Burkle/Mastrov/Downtown plaza arena all set in place.

I think it was the preferred spot all along. The previous plaza owner had the costs too high for the city. With the new owners they want the arena there.
 
http://blogs.sacbee.com/city-beat/2013/01/city-hall-analyzing-potential-arena-at-downtown-plaza.html



Obviously it's all speculation on my part, but it looks like a lot of behind the scenes fast tracking action going towards the downtown plaza, as that is the preferred spot for Burkle.

They have until April from what I believe to get the logistics figured out and present a solid, kevlar wrapped plan to the BOG with Burkle/Mastrov/Downtown plaza arena all set in place.

Could be...I like to think that KJ/his team has all this planned well in advance, including feasibility/planning for DT Plaza arena, and that this is just KJ/city playing their cards right. I don't think any of what's going on is 'on the fly' but instead the cards are 'ready to play', and this is KJ playing a good/smart poker hand. I've heard nothing that discounts any reason to think otherwise.
 
I think it was the preferred spot all along. The previous plaza owner had the costs too high for the city. With the new owners they want the arena there.

Personally, I won't complain about the location of a new arena, whether downtown or at the railyards. But if I had to choose, it would be the downtown plaza. After going to several Clipper/Kings games in LA, I have to admit that the arena there has made a big impact on all the surrounding businesses. The ability to sit and eat dinner and have a couple of adult beverages, and then get up and walk across the plaza and into the arena is a pleasure. Parking is catch as catch can if you don't want to park in the parking garage a block away. Finding parking isn't hard, but finding the right price can be. But all in all, I think an arena downtown would breathe new life into the old town.
 
Personally, I won't complain about the location of a new arena, whether downtown or at the railyards. But if I had to choose, it would be the downtown plaza. After going to several Clipper/Kings games in LA, I have to admit that the arena there has made a big impact on all the surrounding businesses. The ability to sit and eat dinner and have a couple of adult beverages, and then get up and walk across the plaza and into the arena is a pleasure. Parking is catch as catch can if you don't want to park in the parking garage a block away. Finding parking isn't hard, but finding the right price can be. But all in all, I think an arena downtown would breathe new life into the old town.

River City Brewing would be right next to the arena if the plan comes to fruition....
 
http://blogs.sacbee.com/city-beat/2013/01/city-hall-analyzing-potential-arena-at-downtown-plaza.html



Obviously it's all speculation on my part, but it looks like a lot of behind the scenes fast tracking action going towards the downtown plaza, as that is the preferred spot for Burkle.

They have until April from what I believe to get the logistics figured out and present a solid, kevlar wrapped plan to the BOG with Burkle/Mastrov/Downtown plaza arena all set in place.


Itis true. Burkle does want it at the plaza. He went to the NBA and asked them if they would approve for an arena at the plaza. Im speculating but I am sure it was approved. The faster the arena gets done, the better the Kings have to stay.
 
hmmm, Dave must have heard some news regarding the ownership group announcement..............

Carmichael Dave ‏@CarmichaelDave
Barring a last minute change, I'd start my Monday off celebrating a Niner championship. I'd also dust off those whale watching goggles :)
 
hmmm, Dave must have heard some news regarding the ownership group announcement..............

One of his replies had something interesting:
Carmichael Dave ‏@CarmichaelDave
@KevinInABQ ah. No idea. But id keep a special eye on that 20-30 million the Mayor is raising.

Could this mean that they gathered that up to match the Hansen deposit? A little enticement to drop Hansen and accept the Sacramento deal? And sweetened with a modest 7% minority ownership?
 
California contract law doesn't allow for non refundable. It doesn't hold up in court. He can get most if not all back.

Do we know if that contract is under California law though? Seattle investors, tryignt o move the team to Washington, not impossible they would have stipulated a more favorable set of laws to govern...if they're smart enough.

Course on the other hand, a clever investor might offer a clause like this under California law knowing that it would be invalidated and that you weren't actually risking the money.
 
on the sonics rising site they say the 30mil deposit cleared for whatever thats worth...deposit or no still has to have bog approval
 
Do we know if that contract is under California law though? Seattle investors, tryignt o move the team to Washington, not impossible they would have stipulated a more favorable set of laws to govern...if they're smart enough..


Since the product resides in California, wouldn't the terms of the sale have to be subject to California law? I live in California, but if I travel to another State to buy a car, even with intent of bringing the car back with me, the sales contract is still governed by State in which is was sold, right?
 
What $20-30 million the mayor is raising? Isn't that the local group ownership money for purchase of the team?
 
Do we know if that contract is under California law though? Seattle investors, tryignt o move the team to Washington, not impossible they would have stipulated a more favorable set of laws to govern...if they're smart enough.

Course on the other hand, a clever investor might offer a clause like this under California law knowing that it would be invalidated and that you weren't actually risking the money.

It's in California, it has a California business license. A potential move wouldn't happen till after a sale. CA law applies.
 
Both Downtown Plaza and Sacramento Kings might benefit from arena at mall

Despite the late start in planning, Downtown Plaza offers some advantages in terms of bringing a project to fruition quickly. Because it's private property, a mall conversion would be spared much of the red tape involved at the city-owned arena site in the railyard. Building at the railyard would require various approvals from Amtrak, Union Pacific and the U.S. government, which has earmarked millions of dollars for a future transportation hub.

One potential hitch to the mall site is parking. Crockett said AECOM's study envisions building the arena partly below ground, eliminating many of the 3,700 parking spots beneath the mall.

City officials, however, say there are still thousands of parking spaces within walking distance that would be freed up for evening events.

Read more here: http://www.sacbee.com/2013/02/03/5161046/both-downtown-plaza-and-sacramento.html#storylink=cpy
 
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