NBA Wants $10M Deposit on Tuesday

I'm going to take this as a good sign that the NBA is very interested in staying another year at least. 10 million now buys Sacramento another year. Completing the arena deal buys Sacramento another 20 years. We're still moving toward the resolution we all want. One step at a time.
 
I think they will talk to all the ones who pitched in? of course there is NO WAY a person can immediately drop some cash in a short span of time. sadly this could be used by the other side...

good thing is the league is taking sacramento's proposal seriously, and i trust KJ has the money and the companies to back it up. this IS a business opportunity after all
 
Thunder Valley could probably fork over their 1 mil or $700K due at the drop of a hat plus cover anybody else's portion who might not have it immediately available.
 
It is called a "deposit" for a reason. They are not asking for the whole amount up front I think. They just want a sign that the pledges are real.
 
I guess the NBA wants to make certain KJ wasn't BSing them when he advised the BOGs that local corporations have pledged money to sponsor the Kings.
 
This is great news if the NBA is requesting good faith deposits. I'm sure they are not requesting the whole 10 million right this moment, but you have to have a sign from the businesses that they truly intend to follow through. The NBA wouldn't be requesting this if they didn't intend to keep the Kings here. The sooner they do this the sooner we can start focusing on getting the details of this arena deal hammered out.
 
Livinthedream said:
This is great news if the NBA is requesting good faith deposits. I'm sure they are not requesting the whole 10 million right this moment, but you have to have a sign from the businesses that they truly intend to follow through. The NBA wouldn't be requesting this if they didn't intend to keep the Kings here. The sooner they do this the sooner we can start focusing on getting the details of this arena deal hammered out.
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That's what I was thinking earlier. They're not going to bother verifying the deposits unless the intent is to keep the team here if the deposits check out. Let's just all hope they check out!
 
RookieOfTheDay said:
That's what I was thinking earlier. They're not going to bother verifying the deposits unless the intent is to keep the team here if the deposits check out. Let's just all hope they check out!
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Isn't this what today is all about? Verifying all the pledges? I wonder what kind of news we will be discussing tonight, the suspense is killing me.
 
It's not a $10 mil deposit.

A deposit of the $10 mil that was pledged.
The deposit would probably be around a quarter...so somewhere in the range of $2.5 mil.
 
What do we know as a fact? All I have is a tweet reported by someone else. Seems this will become a discussion of fantasy because no facts are known. What is gained by that except people can add to their post total.
 
Glenn said:
What do we know as a fact? All I have is a tweet reported by someone else. Seems this will become a discussion of fantasy because no facts are known. What is gained by that except people can add to their post total.
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MDM put a link in the third post of the thread, with the News10 full report. The NBA will be asking the major parties to put up a deposit (of unknown size) within 30 days.
 
This strikes me as odd. We are talking about big buisiness. Either they have the money and they are good for they're word or not. Why would they want a deposit? This isn't someone with mediocre credit applying to rent an apartment. I'm not sure what to think if it's true. It's like show me the money!

Thinking a little more I am thinking the Maloofs wanted this. If it's true.
 
A deposit for what? Get a new CBA so there are games next year. It should be going into an interest earning escrow account.
 
Who gets to hold the money? Clay Bennett? The Maloofs especially on the ticket sales? I'll hold it if no one else seems appropriate. :)

And at the same time, what is Anaheim being asked to do? Does Anaheim have to prove they will buy ads or sell suites? Seems like they are being nudged out of the equation. That's OK with me.

Worst case scenario: let us say the proof of the $10 mil doesn't materialize. Does Anaheim get the team without proving a thing? Seems to me the issue has to do with community support in the form of corporate interest. We don't have any knowledge whatsoever if there is such corporate interest in Anaheim unless the NBA is just assuming so. I think KJ did something that changed the game by getting these pledges.

In our favor, if it doesn't seem clear.
 
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The league didn't seem to be all that happy with the details of the Anaheim deal, especially the TV rights. Amick said his sources told him the presentation in Anaheim was bad and they didn't answer all the league's questions.

I think maybe Sacramento is being asked to "put up or shut up," because league owners usually approve an owner's request to move. If the league isn't going to support a possible Maloof request to move, I think they want to feel they have good reason to deny such a request for at least one more year.
 
kennadog said:
I think maybe Sacramento is being asked to "put up or shut up," because league owners usually approve an owner's request to move. If the league isn't going to support a possible Maloof request to move, I think they want to feel they have good reason to deny such a request for at least one more year.
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Pretty much agree with this.

They've got to come out with a hard reason to deny the move, even if they would denied it without such deposits. It'll just make for a concrete thing to point to for the media story about it.

KJ must've known all along that the corporate cash would be the gamechanger. (Only enhanced by the presence of Burkle). It's like he had an answer sheet to the test the teacher was giving... probably because he used to be a TA and his buddies do work study in the principle's office!
 
The Hammer said:
Pretty much agree with this.

They've got to come out with a hard reason to deny the move, even if they would denied it without such deposits. It'll just make for a concrete thing to point to for the media story about it.

KJ must've known all along that the corporate cash would be the gamechanger. (Only enhanced by the presence of Burkle). It's like he had an answer sheet to the test the teacher was giving... probably because he used to be a TA and his buddies do work study in the principle's office!
Click to expand...

That's actually a good analogy and why I kept on saying it was an advantage having an NBA insider as mayor going into those BOG meetings. He knew the ground, probably most of the people in the room. They knew him as well as a great player. Hence much more chance for instant credibility.
 
Bricklayer said:
That's actually a good analogy and why I kept on saying it was an advantage having an NBA insider as mayor going into those BOG meetings. He knew the ground, probably most of the people in the room. They knew him as well as a great player. Hence much more chance for instant credibility.
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I believe its been mentioned that Johnson is also a friend of Stern's. How close a friend, I don't know. But it all helps. If support keeps mounting among the owners for the Kings to say another year, one has to wonder if the Maloofs will even submit the bid for relocation. I mean at this point, if it was looking like I had to return to sacramento for another year, I might be thinking about making peace, instead of irritating the folks more by insisting on trying to move.
 
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