New whale, higher Seattle bid and other news, rumors. etc.
- Thread starter Dreamtiger
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xyrin
Bench
I just see this as Hansen's last attempt to get a franchise for Seattle and make it worth it at the same time.
If he can't get an expansion now, he is going to do everything he can to get the Kings. He wants that lucrative RSN deal. It won't be around anymore when the next team goes for sale. He will be willing to overpay for that franchise to get it in time as well. How much is he willing to overpay for it? And will Sacramento be willing to continue matching it?
I'm trusting Stern that he won't allow this to become a bidding war. It is simply a rumor at this point that the bid will go up, though a scary rumor.
If he can't get an expansion now, he is going to do everything he can to get the Kings. He wants that lucrative RSN deal. It won't be around anymore when the next team goes for sale. He will be willing to overpay for that franchise to get it in time as well. How much is he willing to overpay for it? And will Sacramento be willing to continue matching it?
I'm trusting Stern that he won't allow this to become a bidding war. It is simply a rumor at this point that the bid will go up, though a scary rumor.
xyrin
Bench
Ryan Lillis @Ryan_Lillis44m
David Stern said he didn't expect a bidding war in this process, but that seems to be what we have. #NBAKings
David Stern said he didn't expect a bidding war in this process, but that seems to be what we have. #NBAKings
Gary
All-Star
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HndsmCelt
Hall of Famer
The league does NOT have to recognize the increased bid. More to the point According to Liles and the Seattle hacks the Sac group has vowed to match. Also the so called escalator clause does have a cap on it.
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Gary
All-Star
Even IF there was a bidding war how many bids do you think could get in before next week? This isn't like they are buying something on Ebay. Each bid takes weeks to complete. Lawyers on each side have to comb over them and then they have to be submitted to the NBA..
Do you think that in one week we are going to have an all out bidding war? Do you believe that the NBA (who stated there will not be a bidding war) is even going to accept anymore bids?
We are a week from this coming to an end, the NBA does not have time to accept bids.
This coming from a team that still doesn't have a final bid in.
Nope what? We didn't make a big deal that we would be matching the 7%? Claiming we aren't matching because we are focusing on the big picture is PR speak for we couldn't make the $15M match easily. I think at the end of the day it's not a big deal but it would be nice to follow through on an actual investment to show our ownership group is as financially solid as it needs to be.
We don't know the status of any bids, final or otherwise. You keep saying you just want a good discussion. Why then are you INTENTIONALLY making comments that you know will stir the pot further?
Come on, dude. You can't play the "honest discussion" card and then make sarcastic comments like that.
I'm calling bs. If we had a final offer in, we wouldn't have our own Sacramento media reporting that we are planning on increasing our bid to match.
You can't have it both ways, claiming all week that we had already matched with our final Texas hold 'em offer and then ignore reports from sac that there is still increasing to go.
And my response was to yet another sarcastic shut down response to someone asking a legitimate question about facts.
It's being reported that the issue of the 7% is not integral to the purchase of the team, that the ROFR wouldn't be addressed until after the meeting of April 18-19. Since this is the case, it's quite likely Luccheti isn't going to bother bidding on the Cook shares because they're irrelevant. The only reason they even came into play was as a potential ROFR leg-up. That's out of play so it doesn't matter.
It's not about our group being financially solid. It's about not buying something you don't need to buy.
And that's just what's been reported via various sources on Twitter today. All of this stuff is incidental to the main event. Some Kings fans put way too much importance on every little incident and then, when it doesn't play out, they react way too strongly the other way.
The future of the Sacramento Kings is not going to be determined by the sale of Bob Cook's 7% share.
You can call whatever you want. Quite frankly, your arguments are pretty much without merit. You seem to want to just argue for the point of arguing and that's fine. You'll just have to do it by yourself as I'm not going to play your game.
Have a good evening.
Padrino
All-Star
i sorta have to side with sd on this one. though i care little for the "honest discussion" card--because it sometimes masks an agenda--it is clear that the sacramento bid is not "final," and i'm in agreement with sd that we'd be remiss if we started crafting a few too many assumptions. kj and co. presented their proposed bid to the BoG last week, and it has clearly been evolving as they continue to communicate their intentions to the league. i mean, ****, kj and ranadive officially announced the adding of another investor to the group just this morning. things are clearly still in flux. we don't know the full parameters of this sacramento bid-in-progress, and while we also don't know the full parameters of the seattle bid, it has been submitted as "final," though these rumors of the hansen/ballmer group contemplating an increased bid are a tad disconcerting...
point is, there's plenty of room for skepticism with respect to this discussion. i don't find sd's view to be negative. i find it to be a bit overbearing in its anxiety, but kj hasn't slam dunked this thing yet. the momentum has consistently swung in sacramento's direction in the last few weeks, but, as is always the case in basketball, it's a game of runs. seattle may have one last run in them yet, so nobody should get too comfortable. i'm confident that the sacramento group will not be taking their foot off the gas pedal, but, personally, i'm hardly ready to declare a victory...
Fair point, and probably what I was reacting to the most. sdballer sent me a PM after our exchange and I replied. I think I better understand where he's coming from and I hope he can see my POV.
I just wish this would all be over with. Kings fans have suffered too greatly for far too long. If there is any balance to the universe it will finally be our turn to smile...and not worry about yet another shoe falling when we least expect it.
Livinthedream
All-Star
Definitely not going to react too strongly to this increased bid news. Sounds like it's being floated out there to slow down Sacramento's momentum in the media. Hansen and the Maloofs shouldn't have to negotiate in public, which is what has been going on the last 2 days. You don't tell the media you are 'considering' an increase. You either do or you don't. You don't tell the Sac group to provide a binding agreement through the media. Doesn't add up, unless it's all just PR manipulation.
John Galt
Starter
Dark tweet.... I've been hanging in there pretty good but now my nails are chewed down to nubs.
Ian Thomsen @SI_IanThomsen 6m
Seattle group officially ups Kings offer by $25m -- raising NBA record valuation to $550m, league source tells http://SI.com .
Retweeted by Shawn Borin
Ian Thomsen @SI_IanThomsen 6m
Seattle group officially ups Kings offer by $25m -- raising NBA record valuation to $550m, league source tells http://SI.com .
Retweeted by Shawn Borin
annihilator_33
Starter
Just saw this too, right after I posted about Bruski saying it was unlikely this will turn into a bidding war
.
annihilator_33
Starter
James Ham @James_Ham 1m
Honestly, the Maloofs reputation just took another huge blow. They clearly tried to vet Sacs offer to green light an increase from Hansen.
Honestly, the Maloofs reputation just took another huge blow. They clearly tried to vet Sacs offer to green light an increase from Hansen.
theclash4u5
Starter
I thought David Stern said this wasn't going to turn into a bidding war? WTF?
Livinthedream
All-Star
Gotta let this play out. Waiting to hear what the NBA and Sac say first.
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Ftm!
To elaborate... the Maloofs consistently said the team was not for sale, then negotiated with Anaheim, Virginia Beach, and finally Seattle all the while rejecting every attempt for a local ownership group to even negotiate to buy the team. Oh yeah and they turned down an arena deal that Sacramento spent a year negotiating directly with the NBA even though they would have had to pay less for it themselves than the loan they inherited on the old arena (and still haven't paid). Then they signed a binding contract with Seattle complete with non-refundable deposit and insisted that the matter was closed and they would not negotiate with Sacramento. Stern allows KJ to submit a bid anyway and the next thing we hear they have issued a deadline of Friday for Sacramento to submit a blind bid for the team with no negotiation involved. Then at practically the 11th hour they announce that they've decided to up the Seattle bid now that it's too late for Sacramento to do anything about it based on the deadline they already imposed. There's negotiating in bad faith and then there's Maloof negotiation which isn't even worthy of the name bad faith. It doesn't even sniff at the heels of bad faith.
To elaborate... the Maloofs consistently said the team was not for sale, then negotiated with Anaheim, Virginia Beach, and finally Seattle all the while rejecting every attempt for a local ownership group to even negotiate to buy the team. Oh yeah and they turned down an arena deal that Sacramento spent a year negotiating directly with the NBA even though they would have had to pay less for it themselves than the loan they inherited on the old arena (and still haven't paid). Then they signed a binding contract with Seattle complete with non-refundable deposit and insisted that the matter was closed and they would not negotiate with Sacramento. Stern allows KJ to submit a bid anyway and the next thing we hear they have issued a deadline of Friday for Sacramento to submit a blind bid for the team with no negotiation involved. Then at practically the 11th hour they announce that they've decided to up the Seattle bid now that it's too late for Sacramento to do anything about it based on the deadline they already imposed. There's negotiating in bad faith and then there's Maloof negotiation which isn't even worthy of the name bad faith. It doesn't even sniff at the heels of bad faith.
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I think that's what Hansen is hoping. But it's also my belief (through my purple-colored glasses, of course) that Stern is going to put a stop to this. If this does turn into a bidding war, it overinflates the value of an NBA team to an almost impossible level. I look at it like a restricted free agency negotiation, and I'm hoping the NBA will view it the same way. The Kings were put on the market and Hansen made a very attractive offer. Sacramento has now totally matched the offer, and to my logic that should send the deal to the BoG for deliberation.
I still have the utmost faith in KJ, Vivek and company. They are seasoned businessmen and, as was pointed out previously by somebody, they surely have planned for this contingency.
I may just take a nap until April 20 ... or until my phone rings to tell me it's all over.
I believe and I have faith.
SacTownKid
Hall of Famer
The only shot the Hansen/Ballmer group may have is if it turns into a bidding war. Dangerous precedence if the NBA goes back on what it has already expressed. Any more money into the Maloofs greased pockets is just a plain travesty at this point.
annihilator_33
Starter
Now being reported that Hansen's bid was increased by $17 million based on the 65 percent share
Here's what Kevin Johnson has to say (from Twitter):
Kevin Johnson @KJ_MayorJohnson 5m
Sacramento is playing to win, including having assembled a world class ownership group; voting to move forward on an arena....cont'
Kevin Johnson @KJ_MayorJohnson 5m
and securing significant fan and corporate support...cont'
Kevin Johnson @KJ_MayorJohnson 4m
We know the NBA has never moved a team from a market that has performed and where a clear path to an arena has been demonstrated....cont'
Kevin Johnson @KJ_MayorJohnson 4m
which is why as we head into the meetings in New York City next week we are following the process established by the NBA....cont'
Kevin Johnson @KJ_MayorJohnson 3m
That said, we of course are prepared to maintain the full court press we have applied over the last several months...cont'
Kevin Johnson @KJ_MayorJohnson 3m
to make sure we leave it all on the court. For all of these reasons, we feel good about where we stand.
Kevin Johnson @KJ_MayorJohnson 5m
Sacramento is playing to win, including having assembled a world class ownership group; voting to move forward on an arena....cont'
Kevin Johnson @KJ_MayorJohnson 5m
and securing significant fan and corporate support...cont'
Kevin Johnson @KJ_MayorJohnson 4m
We know the NBA has never moved a team from a market that has performed and where a clear path to an arena has been demonstrated....cont'
Kevin Johnson @KJ_MayorJohnson 4m
which is why as we head into the meetings in New York City next week we are following the process established by the NBA....cont'
Kevin Johnson @KJ_MayorJohnson 3m
That said, we of course are prepared to maintain the full court press we have applied over the last several months...cont'
Kevin Johnson @KJ_MayorJohnson 3m
to make sure we leave it all on the court. For all of these reasons, we feel good about where we stand.
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