Napear/Vandusen interview

[kennadog]

Just as long as its big enough to draw the big concert tours...but yet again, I STILL don't think we should short change ourselves and not get March Madness back here(both mens and womens) and other sporting events that would bring TONS of money and life to our region.

I agree. The language specifies PRO sports. An ESC could be built to NCAA standards, host State basketball championships, etc. And this time we could build it in a way that it could easily be converted to use by a PRO sports team at a future date.

The Maloofs would be screwed. Plenty of non-sports events would choose the new ESC over PBP. They'd get less and less revenue from events. The only problem being they would maybe default on the $65 million they still owe to the city on PBP. No small consideration. If the Maloofs walk away from that loan, the city has to make the payments to the bond holders. The city guaranteed repayment to the bondholders (municipal bond).

 

[Jose]

I have a feeling that this is what's going to happen:

- Plan B gets announced and it includes an ESC fit for concerts/NCAA but not quite ready for pro sports, thus avoiding the clause that allows the magoofs to bail on the loan
- City council approves
- City gets everything lined up to go
- magoofs jump in at the last minute, say this is great, they want in on it and want to contribute what's needed to make it ready for pro sports & Kings
- City HAS to slam on the brakes and start negotiating with magoofs, otherwise it gives them ammo to say "city was uncooperative, we're leaving"
- If City doesnt do that, they threaten to default on loan / leave / sue
- Project is stopped due to politics
- Negotiation fails, magoofs pull out, project is dead

It's happened before, it's going to happen again as long as the magoofs own the team. We are stuck until they sell the team or relocate. They will spoil any attempts at an ESC, just like they've done every single time an effort has gained traction.

 

[JB_kings]

I agree. The language specifies PRO sports. An ESC could be built to NCAA standards, host State basketball championships, etc. And this time we could build it in a way that it could easily be converted to use by a PRO sports team at a future date.

The Maloofs would be screwed. Plenty of non-sports events would choose the new ESC over PBP. They'd get less and less revenue from events. The only problem being they would maybe default on the $65 million they still owe to the city on PBP. No small consideration. If the Maloofs walk away from that loan, the city has to make the payments to the bond holders. The city guaranteed repayment to the bondholders (municipal bond).

They have always intended on defaulting on the city loan in their plans to move the team.

 

[Capt. Factorial]

They have always intended on defaulting on the city loan in their plans to move the team.

Perhaps, but the NBA wasn't ever really down with that "little plan" of theirs.

 

[Section 101]

Perhaps, but the NBA wasn't ever really down with that "little plan" of theirs.

http://blogs.sacbee.com/capitolaler...ll-steinberg-sacramento-kings-repay-loan.html

This would be the best way to fix it.

 

[VF21]

http://blogs.sacbee.com/capitolaler...ll-steinberg-sacramento-kings-repay-loan.html

This would be the best way to fix it.

Do you know if the proposed bill was ever introduced?

 

[Section 101]

Do you know if the proposed bill was ever introduced?

I don't think so. But it always can be.

 

[ArcoKings]

Just a reminder:

If Tulsa, OK can do this without an NBA team on board. Then it can be done without 75 million from the Maloofs(NBA).

http://en.wikipedia.org/wiki/BOK_Center

Sweet looking arena for $196 million total- back in 2005. I like it.