Meeting with Mastrov and latest news, etc.

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PurpleHaze said:
Sac dream team coming into focus with "extremely competitive" Mastrov leading charge as potential "new face" of Kings franchise with Burkle bomb looming to close the deal for both new arena and team.

http://www.sacbee.com/2013/01/29/5147708/sacramentos-buyers-for-kings-coming.html
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pretty awesome! im actually a personal trainer at 24. just kinda funny. but this guy looks like a guy thats gonna put a quality team on the court and best yet has been successful at business unlike the maloofs so thats a great combo.
 
sactownfan said:
pretty awesome! im actually a personal trainer at 24. just kinda funny. but this guy looks like a guy thats gonna put a quality team on the court and best yet has been successful at business unlike the maloofs so thats a great combo.
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yeah All of the Whales have EARNED their money, so they are proven business men, unlike the Magoofs who inherited and squandered their family fortune.
 
The Hammer said:
Would not be surprised if it was called "24 Hour Fitness Arena".

Pretty cool name for a sports arena.
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Mastrov sold 24 Hour Fitness years ago. They could certainly pony up cash for naming rights if they wanted, but there's no real connection anymore. Of course, if they did, they could use the existing signage from the gym that is currently in the downtown plaza.

Personally I'd really like to see Blue Diamond pay for naming rights just so the arena could be nicknamed "The Nuthouse"

Then again, I'd be thrilled with any name if it actually means a new arena and keeping the Kings.
 
HndsmCelt said:
The Bankruptcy attorney for cook wants to bring in "Special Counsel" to exert minority owners right of first refusal. Mark my words the bill is going to the Orical offices.

http://www.sacbee.com/2013/01/29/5149179/bankruptcy-trustee-to-bring-special.html
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Aaron Bruski ‏@aaronbruski
On top of a new hearing to add attys for a review of the ROFR in the Kings' bkptcy case, 2 creditors have requested 30 day exts on the sale

Interesting.

Aaron Bruski ‏@aaronbruski
Bids for the sale were set to be reviewed on 4/1 and be wrapped up by 5/13. Add 30 days to that if motion granted.

Aaron Bruski ‏@aaronbruski
Any way you slice these legal proceedings, this is getting messy for both the NBA and Seattle.
 
Seems like KJ and Cook are pulling some good cop/bad cop on Stern/BOG.

KJ: "Let us keep the Kings in Sac, I brought you an amazing ownership duo for the NBA, and you'll be a hero in Sac for blocking the sale to Seattle!"

Vs...

Cook: "Go ahead and try to OK the sale the team to Hansen & Co. We'll drag this on as long as we can and make life hell!"


Hopefully Stern doesn't take umbrage at this. After what the Maloofs did to us during the arena debacle, I think he's squarely in our corner on this one...He just has to be political about it.
 
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Ryan said:
Let's say it delays the vote/move, whatever. What would that mean for us?
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Assuming Maloofs don't just want to sell, but are desperate to sell - it could be a plus. The Kings are already losing around $7 million annual and debts for MSE are just getting bigger each day. Delay of a year might mean they cave (ironic word) and just sell to the local group of investors.
 
PurpleHaze said:
Assuming Maloofs don't just want to sell, but are desperate to sell - it could be a plus. The Kings are already losing around $7 million annual and debts for MSE are just getting bigger each day. Delay of a year might mean they cave (ironic word) and just sell to the local group of investors.
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That makes sense.

I doubt Hansen would still buy the team without a guarantee that he'd be allowed to move it to Seattle. Tweedle Dee, Tweedle Dumb, and Tweedle Douche arnt going to want to sit around losing money for another year unless I'm underestimating their spitefulness.
 
gunks said:
That makes sense.

I doubt Hansen would still buy the team without a guarantee that he'd be allowed to move it to Seattle.
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You never know. I'm hoping their spitefulness is getting in the way. It's possible they were so concerned with keeping this a secret that someone missed this right of refusal.
 
The problem I see is that any delay put in place by the bankruptcy court could potentially block the sale to anyone. Including KJ's "whale" team, regardless of what the BOG decides. Plus we don't have any guarantee that whoever wins the auction for that 7% will want to exercise the ROFR, buy a controlling interest, AND keep the team in Sacramento.
 
Well, I guess a Maloof owned team in Sacramento is better than nothing...But ugh...That would be a tough pill to swallow.

Too bad the Maloofs are such sleazes that they didnt give a local buyer a chance to match. They might have Maloofed themselves on this one.
 
JGar said:
The problem I see is that any delay put in place by the bankruptcy court could potentially block the sale to anyone. Including KJ's "whale" team, regardless of what the BOG decides. Plus we don't have any guarantee that whoever wins the auction for that 7% will want to exercise the ROFR, buy a controlling interest, AND keep the team in Sacramento.
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I may be wrong, but I feel fairly confident that, if the local group were approved, the trustee would drop the suit. The franchise valuation has already been determined so the 7% he's in charge of auctioning isn't going to change. I think the trustee is more so doing a favor for Cook and the still existing minority owners that do not want the team relocated.

Also, from my understanding, the minority owner with the highest ownership stake (Benvenuti) would get first crack so Cook's 7% would almost certainly not factor in at all.
 
Delaying the hearing would prevent a relocation from happening, but it doesn't necessarily prevent a sale from happening, if I understand this correctly. So that's why it's in Sac's favor. If the Maloofs need money now, which I think they do, then the logical thing to do would be to sell to Burkle/Mastrov. It would be a disaster for Hansen to buy the team and keep it in Sac for a year while he waits for the relocation deadline to come around again. Wouldn't be able to give tickets away. The league wouldn't go for it.

I'm pretty confident there is no scenario with the Maloofs as owners next season, regardless of where the team is playing.
 
funkykingston said:
Mastrov sold 24 Hour Fitness years ago. They could certainly pony up cash for naming rights if they wanted, but there's no real connection anymore. Of course, if they did, they could use the existing signage from the gym that is currently in the downtown plaza.

Personally I'd really like to see Blue Diamond pay for naming rights just so the arena could be nicknamed "The Nuthouse"

Then again, I'd be thrilled with any name if it actually means a new arena and keeping the Kings.
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How about "Oracle Arena"
 
JGar said:
The problem I see is that any delay put in place by the bankruptcy court could potentially block the sale to anyone. Including KJ's "whale" team, regardless of what the BOG decides. Plus we don't have any guarantee that whoever wins the auction for that 7% will want to exercise the ROFR, buy a controlling interest, AND keep the team in Sacramento.
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As others have noted it is likely a sale to locals (minority owners included) would put an end to the lawsuit. But my strong suspicion is that what Cook is fishing for is a judge to hold that the right of first refusal exists and is valid. Then, depending on his debt load vs assets, I would not be surprised to see Cook's creditors made whole and the Bankruptcy ended while Ellison woos each of the minority owners to exercise their options and sell him the accumulated shares for a majority stake. Think of it as an end run around the Seattle buyers.
 
HndsmCelt said:
As others have noted it is likely a sale to locals (minority owners included) would put an end to the lawsuit. But my strong suspicion is that what Cook is fishing for is a judge to hold that the right of first refusal exists and is valid. Then, depending on his debt load vs assets, I would not be surprised to see Cook's creditors made whole and the Bankruptcy ended while Ellison woos each of the minority owners to exercise their options and sell him the accumulated shares for a majority stake. Think of it as an end run around the Seattle buyers.
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Seems to also be an end run around KJ's buyers.
 
As others have noted it is likely a sale to locals (minority owners included) would put an end to the lawsuit. But my strong suspicion is that what Cook is fishing for is a judge to hold that the right of first refusal exists and is valid. Then, depending on his debt load vs assets, I would not be surprised to see Cook's creditors made whole and the Bankruptcy ended while Ellison woos each of the minority owners to exercise their options and sell him the accumulated shares for a majority stake. Think of it as an end run around the Seattle buyers.
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eflat said:
Seems to also be an end run around KJ's buyers.
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This is why I don't think it is a good cop/bad cop routine. I think you may have two groups having the same goal attempting different methods with the winner take all. This would go in line with why there are strong hints from various posters indicating that they have "inside" information on the final outcome that involve different buyers. I hope one of these tracks work.

Oops, maybe the bad cop is plan B.

Bob Moffitt ‏@BobMoffitt
Sac Mayor Johnson: City has "clear path" to local Kings ownership group, but solidifying Plan B as well. No mtg yet with Oracle's Ellison
 
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JGar said:
The problem I see is that any delay put in place by the bankruptcy court could potentially block the sale to anyone. Including KJ's "whale" team, regardless of what the BOG decides. Plus we don't have any guarantee that whoever wins the auction for that 7% will want to exercise the ROFR, buy a controlling interest, AND keep the team in Sacramento.
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If the sale is blocked, I suspect the NBA would take back the team in some kind of guardianship role until the court case is settled. I cannot see any way in which Stern lets the Maloofs continue to pollute the NBA waters.
 
VF21 said:
If the sale is blocked, I suspect the NBA would take back the team in some kind of guardianship role until the court case is settled. I cannot see any way in which Stern lets the Maloofs continue to pollute the NBA waters.
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Just like the hornets.
 
VF21 said:
If the sale is blocked, I suspect the NBA would take back the team in some kind of guardianship role until the court case is settled. I cannot see any way in which Stern lets the Maloofs continue to pollute the NBA waters.
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Yep, if "best interest of the league" has any real meaning as documented (link) with those very words spelled out with some force. About ten months ago I reacall this article that for me says it all about "not in leagues best interest" Maloofs and how they were polluting NBA waters way back then - until today.

http://probasketballtalk.nbcsports....e-nbas-billion-dollar-arena-subsidy-industry/
 
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