Sacramento Kings' arena concerns put Anaheim back in play

[Mike0476]

This is exactly why #FANS continues to show up to city council meetings and town hall meetings. It's not over folks.

http://www.latimes.com/sports/sport...ource=dlvr.it&utm_medium=twitter&dlvrit=53285

"Documents reviewed by The Times this week show Kings owners Joe, Gavin and George Maloof dispute that they have a firm agreement to participate in a new entertainment and sports complex in the city."

"Additionally, in a Wednesday letter delivered to city leaders under the subject “ESC feasibility concerns,” the Maloofs’ attorney writes “unresolved issues regarding the … project remain … .”

"But the Maloofs made a strong point in Wednesday’s letter to underline the preliminary term sheet is non-binding, with their attorney writing, “There was never an agreement reached.”

 

[JB_kings]

Not a big surprise to me. The details are still being worked on and at some point there was going to leak out of something in order to gain some leverage in the talks. The Anaheim and voter stuff are not the core issues. It's more likely AEG and the Maloofs wrestling over who gets what.

 

[Section 101]

Another big vote tuesday.

The Sacramento City Council will be asked Tuesday to allocate $6.5 million in city funds to take another major step toward building a sports and entertainment arena in the downtown railyard.

Read more here: http://www.sacbee.com/2012/03/29/4376715/council-to-decide-tuesday-whether.html#storylink=cpy

 

[fansinceday1]

This has a little more to do than just working out some details. This quote from the maloofs lawyer is odd:

But the Maloofs made a strong point in Wednesday’s letter to underline the preliminary term sheet is non-binding, with their attorney writing, “There was never an agreement reached.”

All ive read is that they have come to a basic agreement on all the preliminaries.

 

[Section 101]

This has a little more to do than just working out some details. This quote from the maloofs lawyer is odd:

But the Maloofs made a strong point in Wednesday’s letter to underline the preliminary term sheet is non-binding, with their attorney writing, “There was never an agreement reached.”

All ive read is that they have come to a basic agreement on all the preliminaries.

I think he means binding agreement.

 

[VF21]

Personally, I think this is much ado about nothing on the part of the LA Times. Yes, there is no binding agreement YET but it's pretty obvious from what we've seen that Gavin at least is very happy with how things have been going thus far. I'd like to see the entire letter to determine whether or not there's anything there to cause concern.

In the meantime, keep up the good work, Mike!

 

[JB_kings]

Well there is an agreement to discuss points within the framework of the term sheet. It's not entirely open ended. It doesn't say we'll talk about this later. It uses specific percentages paid for pre-development fees by three parties. And further more the Kings must pay back AEG if the deal goes sour and it's not AEG's fault.

George agreed to that back in Orlando. Now he's tossing out things he agreed to back then. So was Orlando just a dog and pony show put on by the NBA and had no meaning? Should anything that was talked about there considered meaningless by the NBA and the owners of the Kings?

If I'm David Stern, George just made the Kings owners and his NBA look very bad. I would think there is a woodshed in George's near future.

 

[JB_kings]

Ps.

Forget Anaheim. There is no scrapping of the deal at this point over this item. Perhaps the 4/3 vote gets delayed, but it's not blowing up.

 

[JB_kings]

And as if on cue... http://www.sacbee.com/2012/03/29/4376882/new-arena-troubles.html

The NBA today came to the rescue of Sacramento's arena deal, agreeing to chip in $3.26 million in pre-development costs after the Kings' owners balked at paying the money.

NBA Commissioner David Stern, in a statement to The Bee, said those pre-development expenses must be paid quickly. "Those discussions have stalled, but I have advised Mayor Johnson that the NBA will advance pre-development expenses on behalf of the Kings pending our report to the NBA Board of Governors at its meeting on April 12-13."

Read more here: http://www.sacbee.com/2012/03/29/4376882/new-arena-troubles.html#storylink=cpy

 

[Capt. Factorial]

If I'm David Stern, George just made the Kings owners and his NBA look very bad. I would think there is a woodshed in George's near future.

Yes, please.

 

[JB_kings]

Yes, please.

I guess the fact that Stern responded so fast to this is pretty indicative of what he thought of George's comments. I hope there is a follow up invite to the commissioner's office to discuss his nasty habit of trying to derail arena plans in public.

 

[Warhawk]

I guess the fact that Stern responded so fast to this is pretty indicative of what he thought of George's comments. I hope there is a follow up invite to the commissioner's office to discuss his nasty habit of trying to derail arena plans in public.

Agreed.

 

[VF21]

I'm closing this in favor of the longer, ongoing thread discussing the later Bee article.

...

Plus, that way I don't have to delete my incredibly stupid and naive comment about Gavin Maloof above. I've had it with all of them. In the words of a old country-western song, I'm tired of them ripping out my heart and stomping that sucker flat.