Relocation Revisted

[Sac.1989]

If and when it comes to refiling for relocation surely there is no way now after we've seen the real Maloofs that the NBA, Bennett, the board and the owners can pass the Maloofs want to relocate.

Were all hoping for a long fight with the Maloofs eventually forced out but surely this is something in our favour.

Thoughts ?

 

[gatoradeSD]

Hopefully. People are gonna stop going to games, Maloofs are gonna be upset and file for relocation and our only hope is they dont allow it imo. if they dont allow it I think Maloofs will have no choice but to sell

 

[Brac-o-matic]

If the Maloofs can't afford to put a decent product on the floor, can't afford their arena contribution, can't afford a little over $3M for pre-development, then could they afford the potentially hefty relocation fee, plus the $70M they owe the city? (assuming the BoG doesn't shoot them down, which is a far-fetched assumption at this point...) They will need a major Samueli-like figure to help them incur even more debt to make a move even possible.

 

[whozit]

If the Maloofs can't afford to put a decent product on the floor, can't afford their arena contribution, can't afford a little over $3M for pre-development, then could they afford the potentially hefty relocation fee, plus the $70M they owe [/B]the city? (assuming the BoG doesn't shoot them down, which is a far-fetched assumption at this point...) They will need a major Samueli-like figure to help them incur even more debt to make a move even possible.

If they file, they could just walk away from that debt and leave the city on the hook for it.

I do have a question for the lawyers/experts on here. If the team reneges on it's debt on the PBP there's been reported that the city would gain a 2% ownership in the team. The Maloof's reportedly own 50-52% That two percent could take them below 50%. If one could acquire all of the minority owners portions (several have indicated they don't want the team to move) and get control of the other 2%, could you have a hostile takeover and block any move or do they have control even if they don't own the majority?

I ask this because one of the minority owners (Cook?) reportedly declared bankruptcy and his portion of the Kings was going up for auction. Has this happened and if so, does anyone know who obtained it?

 

[Section 101]

If they file, they could just walk away from that debt and leave the city on the hook for it.

I do have a question for the lawyers/experts on here. If the team reneges on it's debt on the PBP there's been reported that the city would gain a 2% ownership in the team. The Maloof's reportedly own 50-52% That two percent could take them below 50%. If one could acquire all of the minority owners portions (several have indicated they don't want the team to move) and get control of the other 2%, could you have a hostile takeover and block any move or do they have control even if they don't own the majority?

I ask this because one of the minority owners (Cook?) reportedly declared bankruptcy and his portion of the Kings was going up for auction. Has this happened and if so, does anyone know who obtained it?

Don't think Cooks has been sold yet. Hes trying hard to keep it.

 

[Circa_1985_Fan]

KJ mentioned there was a local possible buyer for the Kings besides Burkle...any idea who that was??

 

[fansinceday1]

There is no way Stern or whoever is comish will let the maloofs default on the loan owed to the city. The NBA allowing that to happen could destroy any chance of any other city giving any size loan to another team in the future. Worst case scenario I think if the maloofs said they couldn't pay it back the NBA would probably cover it.

 

[macadocious]

Where have the minority owners been in all this? Have any of them spoke up at all? Are they that afraid of the Maloofs? I think there is one or two that are more wealthy than the Maloof family (going off what someone told me, so have no real basis for that).

 

[Warhawk]

Where have the minority owners been in all this? Have any of them spoke up at all? Are they that afraid of the Maloofs? I think there is one or two that are more wealthy than the Maloof family (going off what someone told me, so have no real basis for that).

I don't think they really are kept informed on the decisions being made. They find out when the rest of us do. At least that was my impression from a newspaper article I read a while back. They have no voice.

 

[arwen undomiel]

They have no voice.

Perhaps it's time they found one, along with a backbone. It seems to me their investment is at risk too. Any ideas on how we can reach out to them? Put as much pressure on MSE as possible, and from every angle possible?

Someone help me out here - it seems the real cog in this is George. Am I reading the situation right? Somehow I get the impression Joe & Gavin would do the deal, but George controls the purse strings?

 

[macadocious]

Oh there is no doubt. It's been that way all along. Joe and Gavin were just the pretty faces.

 

[whozit]

Perhaps it's time they found one, along with a backbone. It seems to me their investment is at risk too. Any ideas on how we can reach out to them? Put as much pressure on MSE as possible, and from every angle possible?

Someone help me out here - it seems the real cog in this is George. Am I reading the situation right? Somehow I get the impression Joe & Gavin would do the deal, but George controls the purse strings?

Last year before the year reprieve, there were minority owners who spoke up but they don't have the authority to do anything but sell their shares.

 

[JB_kings]

George's plan:

Finish burning bridges in Sacramento while lying about staying at Arco. Gets soundly laughed at for his outrageous thoughts like removing KJ and remodeling Arco.
Feign looking miffed over the rejections. File for late relocation to the NBA.
NBA soundly laughs at George and says you can call us next summer to talk.
Expecting this rejection, George states the team has agreed to a deal with Anaheim and plans to move without NBA permission.
All sorts of suits and counter suits, motions, etc. fill up the clog up the courts for years.

This my friends, is what we may have to look forward to.

 

[Spike]

George's plan: I

Finish burning bridges in Sacramento while lying about staying at Arco. Gets soundly laughed at for his outrageous thoughts like removing KJ and remodeling Arco.
Feign looking miffed over the rejections. File for late relocation to the NBA.
NBA soundly laughs at George and says you can call us next summer to talk.
Expecting this rejection, George states the team has agreed to a deal with Anaheim and plans to move without NBA permission.
All sorts of suits and counter suits, motions, etc. fill up the clog up the courts for years.

This my friends, is what we may have to look forward to.

Don't forget losing Evans and DMC, wallowing in the depths of the league for as long as it takes until the Maloofs sell. You're right though, it will get ugly. How ugly is yet to be determined.

 

[PurpleHaze]

KJ mentioned there was a local possible buyer for the Kings besides Burkle...any idea who that was??

I heard that local businessman or to include a group of businessmen from general area may be interested in buying the Kings.

 

[ParniValjak]

I heard that local businessman or to include a group of businessmen from general area may be interested in buying the Kings.

That's all well and good BUT:

1. Maloofs will have to be willing to send or are boxed into the corner where they have no other choice (none is true at this stage)
2. The new owners would have to be able to afford a winning small market team otherwise it really is no good if the new ownership is local if they are cash strapped like Maloofs or are slightly better of. This team and it's fans deserves an owner committed to the area but an owner that also has VERY VERY deep pockets and treats the team as his hobby and not a money making business venture.