Rumor about Maloofs losing in Madoff scheme untrue - UPDATED

Holy crap, Batman!!! :eek:

That's just awful. Yes, it sure explains things...............well, some things.
 
CORRECTION:

From The Bee, regarding the Maloofs' involvement in the Madoff scandal:

Within hours, that paragraph was removed from the story and all indications are that it was simply a bad mistake. The writer, Alan Hahn, said to me via e-mail that he was contacted by a representative of the Maloofs who informed him that his information was incorrect. I was told from the Kings side that it was Donna Lucas, the Maloof's public relations consultant and spokeswoman who relayed word that the Maloofs claim to have had no connections whatsoever to the scandal. Kings vice president of media relations and basketball operations Troy Hanson said he had spoken to Gavin Maloof about the issue and was told it was simply not true. What's more, a Department of Justice list of victims has no mention of any Maloofs.
Click to expand...
 
Wow, this is good news, but they still are in a financial crisis. Maybe they aren't in as big of a crunch as we thought, but they still are trying to save as much money as possible.
 
VF21 said:
CORRECTION:

From The Bee, regarding the Maloofs' involvement in the Madoff scandal:
Click to expand...


Well, that's a relief. Now, hopefully, they will be able to help, along with private investors, to build us a new arena.

So, their financial loss has only to do with lack of butts in the seats. :p
 
vikinginfeerno said:
Wow, this is good news, but they still are in a financial crisis. Maybe they aren't in as big of a crunch as we thought, but they still are trying to save as much money as possible.
Click to expand...

I totally agree. I think most teams showed they were in a fiscally conservative frame of mind by what trades happened and what didn't happen.

I strongly suspect we're going to see some changes in ticket prices, in how salaries are negotiated, etc. Being a free agent in this economy isn't going to bring the uber-million $$$ contracts of a few years ago, especially for 2009.

I'm just glad this was a inaccurate report. And gee, the Bee got it wrong and it was quoted all over the place and yet I stumbled on the correction quite by accident. Once again, it seems to me as though the Bee really doesn't care about gets the facts as long as they can hit the stands - or the Internet - with the story first.
 
6th said:
Well, that's a relief. Now, hopefully, they will be able to help, along with private investors, to build us a new arena.

So, their financial loss has only to do with lack of butts in the seats. :p
Click to expand...

Yeah, and I have a feeling they are getting killed financially with their Las Vegas casino. Not a whole lot of people out there with money left to gamble.
 
HighTopKicks said:
Oh, I don't know, I know that my liqour bill has gone steadily up as my 401K has been dropping. So, their probably making a killing at their Coors distributorship.
Click to expand...
Actually, I did think that might be the exception. If might be the only thing keeping them afloat. ;)

On the other hand as major inerest owners in Wells Fargo Bank, that's got to hurt, along with what was, in hindsight, an ill-times expansion to the Palms.
 
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