1. That looks pretty bad. The original blue and red colors on the old logo work because it adds contrast and boldness; the colors speak for itself. Swapping it to black/grey and purple for the sake of swapping colors loses those qualities. Our current logo looks fine with those colors because we're focused on the sharpness/edginess of the crown, "KINGS", and the lances(?).
2. The font choice in your suggestion reminds me of when Pepsi rebranded their logo. I hated it. It looks like when the Mavericks changed their logo to that squiggly font. It's not even cursive, it's just round and wimpy. None of our logos in the past looked like that.
3. Did it really have to be 8000x5000 pixels?