New whale, higher Seattle bid and other news, rumors. etc.

[Kingsfan23]

http://www.king5.com/news/-Seattle-group-raises-purchase-price-for-Kings--202810021.html


SEATTLE -- The Seattle group attempting to buy the Sacramento Kings says it has reached agreement to raise the purchase price by $25 million.

Chris Hansen, teaming with Steve Ballmer to lead the group, Hansen announced the decision to raise the valuation late Friday night. In a statement on his website, Sonicsarena.com, Hansen says the group has voluntarily raised the purchase price as a "sign of our commitment to bring basketball back to our city."

 

[VF21]

Key words, IMHO:

We are following the process established by the NBA.

 

[Fear the Putin]

I knew it. Release a deadline for a sac bid, receive it, and allows Seattle to up the anty.

 

[Purple Reign]

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

I respond to this latest news with a YAWN and a "I'm going to bed". But I will say this before I go. Tonight's events have totally convinced me that Sacramento is going to win this thing without having to raise their offer one single penny. Hansen, Balmer and the Seattle fans have always thought this was about money and this latest move SCREAMS OF DESPERATION!!. This has never been about money and come the end of the week, money will not be THE DECIDING factor.

I have tried to give the Maloof Family the benefit of the doubt in all of this. And at the end of this evening, they think that they have "played" Sacramento into getting more money. But they are all non m.f'n factors up in this piece!!!! This has always been a referendum of the community of Sacramento; it is still about Sac right now and at the end it will be about Sac.

 

[Gary]

Kind of a "last resort" thing by Seattle. They aren't getting the Kings so it's not sweat off my back.

 

[annihilator_33]

Carmichael Dave just pointed out something interesting....

Carmichael Dave ‏@CarmichaelDave 1m

Interesting that the 15.1 million Sac didn't match is just about the amount of the bid Hansen increased.

 

[HndsmCelt]

In a step back and say WHOA moment, it strikes me as both amazing and sad that a millionaire and a billionaire are able and willing to spend about 400 million to buy controlling interest in a team, another 500 million or so to build an arena (almost 1 billion dollars) when once the new team smell wears off the arena they will be back to 14,000 fans in attendance. sad very sad.

 

[Kingsfan23]

Sorry for starting the other thread, didn't realized I was beat by an hour with that news on this thread... yeah these seattle cockroaches won't quit until they have stolen our team. Really disconcerting after I thought it was in the bag

 

[Gary]

Sorry for starting the other thread, didn't realized I was beat by an hour with that news on this thread... yeah these seattle cockroaches won't quit until they have stolen our team. Really disconcerting after I thought it was in the bag

It is in the bag. This reeks of desperation.

 

[kennadog]

This is just gut-churning for me. (...keep the faith, believe, keep the faith, believe, keep the faith, believe...)

I have to go to sleep and escape reality for a while.

 

[VF21]

This is just gut-churning for me. (...keep the faith, believe, keep the faith, believe, keep the faith, believe...)

I have to go to sleep and escape reality for a while.

You've met Kevin Johnson. Believe that he and Vivek and company were expecting this and have the situation well in hand. It's always darkest before the dawn.

 

[Livinthedream]

This was Hansen's last bullet. Again....he's playing this out in the media, which means to me that he doesn't have the NBA's ear.

 

[kennadog]

You've met Kevin Johnson. Believe that he and Vivek and company were expecting this and have the situation well in hand. It's always darkest before the dawn.

I'm generally a pessimist, but I have worked very hard at staying positive about this. I just have my bad moments.

 

[VF21]

I'm generally a pessimist, but I have worked very hard at staying positive about this. I just have my bad moments.

I know, dear heart. And that's why I'm here. I'll make sure you remember the bright side.

 

[kennadog]

I know, dear heart. And that's why I'm here. I'll make sure you remember the bright side.

And I really appreciate you, believe me.

 

[Padrino]

It is in the bag. This reeks of desperation.

it does, indeed, reek of desperation. but kings fans should not be laboring under the delusion that it's "in the bag." sacramento still has a great chance of keeping the team, but there are plenty of reasons the league could rule in seattle's favor, and not one of them has a thing to do with fairness...

 

[VF21]

From Twitter:

Aaron Bruski ‏@aaronbruski 15m

Sources close to the situation tell PBT that Hansen announcement a late response to growing support for SAC bid.

Aaron Bruski ‏@aaronbruski 12m

The move is at odds w/ repeated stmts from Stern/NBA re: no bidding war. Sources say SAC to stick to NBA's existing process

 

[VF21]

it does, indeed, reek of desperation. but kings fans should not be laboring under the delusion that it's "in the bag." sacramento still has a great chance of keeping the team, but there are plenty of reasons the league could rule in seattle's favor, and not one of them has a thing to do with fairness...

Let each believe according to their hearts and their heads. It's like trying to argue politics - you aren't going to convince those who want to believe it's "in the bag" that it's not any more than they're going to convince you just to follow the positive path. Kings fans can labor under any delusion they like.

 

[Capt. Factorial]

It is in the bag. This reeks of desperation.

This cannot be stressed enough. If Hansen thought he was going to win on the strength of his bid, he'd never have upped the offer. Add that to the list of things we can infer. Next, if Hansen thinks he's behind when the bids are equal, that means "non-economic" issues favor Sacramento. Add that to the list. And then there's this quote from Stern (posted by JB_Kings over at STR, I don't think I saw him post it here):

And I don’t believe it’s going to come down to economics because it’s not about, ‘OK I say 525, alright I’ll say 526,’ to me that would be economics. I think the owners are going to have a tough issue to decide, but we don’t want to get to it because we don’t have the predicate for that tough decision yet.

Well, shucks, let's add that to the list. So what does the list look like?

Things we can infer:
1) Prior to Hansen's bid increase, Sacramento was going to win this fight.
2) Sacramento was going to win on the basis of non-economic factors.
3) The winner will continue to be based on non-economic factors, not on the basis of who can get in the final snipe on the Ebay auction.

Is it disconcerting? Yes. But I don't think too many owners are going to get swayed by what is an obvious desperation move. If the NBA wants the team to stay in Sacramento, it stays.

 

[Fear the Putin]

Another thought. Maybe they didn't bother with the 7%, as they knew a higher bid by Seattle was coming. Instead of wrapping up $ in the 7%, they get those 20 local millionaires that KJ announced previously to match this new bid without getting our main whales to raise their stake. The 20 local investors were initially thought to buy Bob cooks shares, but maybe they're gonna prop open the bidding can and match it once and for all.

 

[Kingsfan23]

it does, indeed, reek of desperation. but kings fans should not be laboring under the delusion that it's "in the bag." sacramento still has a great chance of keeping the team, but there are plenty of reasons the league could rule in seattle's favor, and not one of them has a thing to do with fairness...

I'm firmly of the belief that the votes were heavily in the Kings favor headed into tonight. I still believe that the Seattle's bid can be voted down its just I worry about Stern's comment that this won't be a bidding war. How can that be ensured? Will the other owners go along with that principle? Will the maloofs deal with the Sac investors with their 341 bid after Hansen has suggested more? Lot of questions

 

[VF21]

Another thought. Maybe they didn't bother with the 7%, as they knew a higher bid by Seattle was coming. Instead of wrapping up $ in the 7%, they get those 20 local millionaires that KJ announced previously to match this new bid without getting our main whales to raise their stake. The 20 local investors were initially thought to buy Bob cooks shares, but maybe they're gonna prop open the bidding can and match it once and for all.

Another possible reason they decided against bidding on the 7% is that the ownership approval for the 65% of the Kings will be voted on before the NBA approval for the purchase of Cook's shares. This means there was/is no advantage whatsoever to owning that small group of shares in relation to the majority ownership of the team.

 

[Padrino]

Let each believe according to their hearts and their heads. It's like trying to argue politics - you aren't going to convince those who want to believe it's "in the bag" that it's not any more than they're going to convince you just to follow the positive path. Kings fans can labor under any delusion they like.

indeed they can. doesn't mean they should. there's not a thing wrong with positivity, but it is wise to temper that positivity with caution. i like sac's chances. but that's all it is: a game of chance. there are so many variables at play, and it really could go either way, regardless of what we may deem to be fair and just. after the league rules on the sale of the kings at the BoG meetings, there will be a geometric ****load of broken hearts left in the wake. they may be in seattle. they may be in sacramento. in either case, fans should steel themselves for such an event...

 

[VF21]

I'm firmly of the belief that the votes were heavily in the Kings favor headed into tonight. I still believe that the Seattle's bid can be voted down its just I worry about Stern's comment that this won't be a bidding war. How can that be ensured? Will the other owners go along with that principle? Will the maloofs deal with the Sac investors with their 341 bid after Hansen has suggested more? Lot of questions

Seattle has a binding sales agreement with a set price with the Maloofs. It has been presented to the NBA for approval. The NBA gave Sacramento the right to submit a competing offer, which they have now apparently done. Hansen's offer to increase his "bid" doesn't necessarily have any legal standing whatsoever. Stern was sincere about it not becoming a bidding war. It's not up to the other owners. There are a lot of questions but I would think the presentations made to the finance/relocation committee are what matters, with the possible addition of the $30 million to "make Seattle whole" should the vote go against Hansen.

 

[VF21]

indeed they can. doesn't mean they should. there's not a thing wrong with positivity, but it is wise to temper that positivity with caution. i like sac's chances. but that's all it is: a game of chance. there are so many variables at play, and it really could go either way, regardless of what we may deem to be fair and just. after the league rules on the sale of the kings at the BoG meetings, there will be a geometric ****load of broken hearts left in the wake. they may be in seattle. they may be in sacramento. in either case, fans should steel themselves for such an event...

Shouldn't people have the right to view things from their own perspective? Yes, it really can still go either way but I'm still going to remain positive regardless of how many times someone tries to tell me I should temper my positivity with caution.

Basically let's argue the issues and not the convictions of those doing the arguing.

in either case, fans should steel themselves for such an event...

But that's their choice to make, isn't it?

We're arguing the philosophy of life now, and I'd really like to just stick to the issues at hand. If you want to continue this discussion with me in particular, let's just take it to PMs. It is way too reminiscent of some very old discussions of politics from the days of the old "foxhole" board, and I just don't want to continue in this vein.

Thanks.

 

[bajaden]

Want a positive thought? Well here's one! Does anyone know for sure what Hansen's bid is, or what our Whales have offered? Were assuming that Hansen has decided to raise his bid because we matched it. Well, what if our bid happened to be 25 mill higher than Hansen's, and he didn't know until he saw our bid, and then decided to match. If you don't like that story, I can make up another one. The point is, none of us know all the details. So speculation is running rampant. Kevin Johnson says everything is well in hand. So for he's delivered everytime, so I for one an going to believe what he says, and go to bed.

 

[Bibbilicious]

You've met Kevin Johnson. Believe that he and Vivek and company were expecting this and have the situation well in hand. It's always darkest before the dawn.

I was slightly worried. But any quote from the Dark Knight can always make me feel better haha.

 

[Gary]

Want a positive thought? Well here's one! Does anyone know for sure what Hansen's bid is, or what our Whales have offered? Were assuming that Hansen has decided to raise his bid because we matched it. Well, what if our bid happened to be 25 mill higher than Hansen's, and he didn't know until he saw our bid, and then decided to match. If you don't like that story, I can make up another one. The point is, none of us know all the details. So speculation is running rampant. Kevin Johnson says everything is well in hand. So for he's delivered everytime, so I for one an going to believe what he says, and go to bed.

Another thing to consider is who did they submit the bid to? Maloofs? The NBA?

Is there even time for another bid to get in by the BOG meetings? If there is time enough for one more bid wouldn't they advise Sacramento of this and get the cash from Vivek? (he could write a check for the different he had said in the past).

Vivek is looking at this from a India POV. His money making ability for this team in India will far surpass what they could get for just the Seattle area. We are comparing a couple million to over a billion people. It turns India in essence to Kings territory. Jerseys, memorbilia, sponsorship... All from India is greater than the same three (memorbilia, jerseys, sponsorship) from just Seattle. I would even argue that Sacramento is pretty much on Seattles level for all three, but add India inthere and it's not even a contest.

 

[The Hammer]

Another thing to consider is who did they submit the bid to? Maloofs? The NBA?

Is there even time for another bid to get in by the BOG meetings? If there is time enough for one more bid wouldn't they advise Sacramento of this and get the cash from Vivek? (he could write a check for the different he had said in the past).

Vivek is looking at this from a India POV. His money making ability for this team in India will far surpass what they could get for just the Seattle area. We are comparing a couple million to over a billion people. It turns India in essence to Kings territory. Jerseys, memorbilia, sponsorship... All from India is greater than the same three (memorbilia, jerseys, sponsorship) from just Seattle. I would even argue that Sacramento is pretty much on Seattles level for all three, but add India inthere and it's not even a contest.

Sounds like somebody has been reading my poOOOOoooosts...

 

[Turgenev]

It is a bit upsetting.

The fight for the kings franchise is about more than a one time dollar figure.

Seattle was too arrogant to fight for the Sonics when it was needed. Why should they be rewarded at the expense of a city that fights.

...

Hopefully this will be over soon.