Seattle rumors/comments - post them here!
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LWP777
Guest
Why? This is so much fun!
David Aldridge on NBATV: "I can tell you they are not going to sell the team around Burkle, and I'm not guessing on that one. I've got people pretty close that have told me that..." "If there are other people with that kind of money in the Sacramento area, that will pledge to keep them there they should step forward because it's getting late...." "Once that (March 1st deadline) is set in place, I don't see right now, anything that would stop that team from moving once they apply for relocation...I'm fairly certain the other owners would quickly approve that and the BOG would soon approve it in time for them to move by next season"
On plausible scenarios that could cause this deal to fall through (cliff notes):
- If the city of Seattle had second thoughts about how the arena deal was being financed....the other teams in Seattle have voiced concerns, etc. Mostly privately financed, so these concerns may not be an issue, much smaller city/state commitment.
- Maloof family are "passionate NBA people" (ha...) "they love the NBA, love BEING in the NBA, could have a change of heart and stick it out one more year." HOWEVER, NBA doesn't want a repeat of the disaster of last year, having a deal in place fall through...
On plausible scenarios that could cause this deal to fall through (cliff notes):
- If the city of Seattle had second thoughts about how the arena deal was being financed....the other teams in Seattle have voiced concerns, etc. Mostly privately financed, so these concerns may not be an issue, much smaller city/state commitment.
- Maloof family are "passionate NBA people" (ha...) "they love the NBA, love BEING in the NBA, could have a change of heart and stick it out one more year." HOWEVER, NBA doesn't want a repeat of the disaster of last year, having a deal in place fall through...
Trueblood
Bench
Actually, Larry Ellison's bid didn't work out because the Warriors owner at the time, Chris Cohan, didn't want to sell to him so he set up a bogus bidding process. He waited til someone outbid Ellison at an amount that he liked and then shut down the process before Ellison could up the ante. Ellison was ready to bid more than Lacob but Cohan made sure to not let him get in another shot because he simply didn't like him.
Ellison was going to keep the Warriors in Oakland. After all, the arena is named after his company. I'm guessing he eventually would've made a play for SF like Lacob is doing but who knows.
He did want to buy the Sonics and move them to San Jose. He actually outbid Clay Bennett by $75 million but the league wanted OKC over San Jose so he lost out.
Same with New Orleans. He was set to outbid the league for the Hornets and the move them to San Jose but the league preferred keeping the team in New Orleans so they bought the team outright.
Well page his butt to center court. He can buy the Kings and outbid a Microsoft guy in the same deal. His jet or helicopter can probably get to the arena faster than fans from Folsom and Roseville.
KingsFanSince85
All-Star
Which makes absolutely no sense to me whatsoever.
The NBA went back to Charlotte, almost immediately, after the fans essentially boycotted ownership.
The NBA then bought the freaking the team that left Charlotte in order to ensure they remained in New Orleans.
Now the NBA is more than willing to go back to Seattle after only a 5 year absence.
What about Sacramento? Not one of those cities has supported their franchises as Sacramento has done with the Kings.
Why won't the NBA stand up for Sacramento like they did for New Orleans? If they are unable to do so (I call shenanigans on that), why wouldn't they be as willing to go back to Sacramento almost immediately as they've done in Charlotte and now, possibly, Seattle??
I'm sick to death of hearing how Sacramento won't ever get another team if we lose the one we got due to poor ownership or lack of an arena. Charlotte lost their team due to poor ownership and Seattle lost their team due to lack of a new arena. If both cities end up with new teams after only a few years, why couldn't the same be done for Sacramento?
ParniValjak
All-Star
That is really no rocket science. Without the new arena, no team would move to Sacramento and no arena will be built without an anchor tenant. The best we can hope for at the moment is that an ownership group that is willing to keep the Kings in Sacramento and sign on the arena deal that is on the table. Otherswise, Sacramento Kings become the Seattle Sonics
In order to attract a team, you either have to have the arena in place, or you have to have an iron clad financing in place to build one. I am hoping it does not come to that. Where is that super rich guys from Asia that wants to buy the team?
Totally agree, and I have no idea why a #20 market wouldn't have an equal shot at getting a team back after such a cluster**** like this situation has been.
Krunker
Northernmost Kings Fan
Manual V Pangilinan (MVP)? I think I read recently that he was going to try to get a minority stake in some team and test the waters first. I'm not sure if he is rich enough to compete with the Hansen/Ballmer group anyway.
ParniValjak
All-Star
https://twitter.com/aaronbruski/status/289174905017229313
**** ME!!!!
Just how incompetent are these clowns?!
**** ME!!!!
Just how incompetent are these clowns?!
Section 101
All-Star
https://twitter.com/aaronbruski/status/289174905017229313
**** ME!!!!
Just how incompetent are these clowns?!
They didn't spend it on the team. It had to go down with the Palms. They should be investigated for fraud.
ParniValjak
All-Star
Its obviously the case but it also explains their extravagant asking price if they are to pay off that money to the NBA once the team is sold. If the new ownership inherits that debt then the selling price is obviously going to be much lower than $500 million.
Unless of course you are a Seattle ownership group that is loaded with money and does not care about the cost and is only worried about getting the NBA back to Seattle.
As we say in Portland: F Sh*ttle.
KingsFanSince85
All-Star
Those that assume this to be the case are failing to recognize that these same people became and remain rich because they are frugal and don't pee money away. Unlike the Maloofs, the group people we are talking about MADE their own money and didn't have it handed down to them by their daddy. To make and maintain that kind of money requires an exceptional amount of discipline. While this Seattle group may indeed be willing to overpay as the new Dodgers owners did, don't fool yourself into believing that they don't care about cost.
Dare I ask what this sentiment comes from?
KingsFanSince85
All-Star
After reading through the thread, I didn't see this mentioned I thought I should point it out:
While a potential ownership group that intended to keep the Kings in Sacramento wouldn't have to worry about paying off the city loan right away and wouldn't incur relocation fees .. they would have to pony up 75M (or whatever the share is) to take the city up on the new arena deal (which would still be a requisite for the NBA to give their approval).
So, let's say a local ownership group only has to offer 425M to all but match the deal on the table from the Seatte group, in the end, it still becomes 500M when the arena contribution is made.
This may make it more difficult to find alternate investors willing to make a bid.
That said, let's somehow hope Ron Burkle and MVP decide to team up (since MVP recently stated that he's seeking a minority ownership stake). While the Maloof's seem stubbornly against selling to any group with Burkle's involvement, perhaps they won't have a choice if the NBA steps in. Couldn't the NBA buy the team from the Maloof's (knowing they have guaranteed ownership group to flip it over to) then sell it to Burkle/MVP?
While a potential ownership group that intended to keep the Kings in Sacramento wouldn't have to worry about paying off the city loan right away and wouldn't incur relocation fees .. they would have to pony up 75M (or whatever the share is) to take the city up on the new arena deal (which would still be a requisite for the NBA to give their approval).
So, let's say a local ownership group only has to offer 425M to all but match the deal on the table from the Seatte group, in the end, it still becomes 500M when the arena contribution is made.
This may make it more difficult to find alternate investors willing to make a bid.
That said, let's somehow hope Ron Burkle and MVP decide to team up (since MVP recently stated that he's seeking a minority ownership stake). While the Maloof's seem stubbornly against selling to any group with Burkle's involvement, perhaps they won't have a choice if the NBA steps in. Couldn't the NBA buy the team from the Maloof's (knowing they have guaranteed ownership group to flip it over to) then sell it to Burkle/MVP?
SacTownKid
Hall of Famer
I would assume the deal that the NBA agreed for on behalf of the Maloofs would still be good for a prospective owner. The NBA floated most of that money to get the arena done.
jalfa
Starter
well, correct me if I'm wrong, but don't the Seattle people still have to pay for an entire new arena, for which there isn't yet any public funding plan in place? meaning that this end of the equation would rest even heavier on them.
I think the ownership group would pay. Could be wrong though.
HereWeBoogie
Hall of Famer
mark it down guys, this team is gone. there wont be NBA basketball in Sacramento next season
Section 101
All-Star
There are also several lawsuits against it being built in it's current location.
xyrin
Bench
Let me correct you then. There is PRIVATE funding in place for the new Seattle arena. If they buy the Kings, the arena deal will go forward without a problem.
This team is moving, sorry guys. Seattle has a team willing to invest 1 billion+ for the team and arena, no way KJ will be able to find a local group who will do that.
Section 101
All-Star
No. There are several lawsuits against the current arena plan.
Section 101
All-Star
Look at the post reguarding that $500 mill. It includes the cost of relocation.
Livinthedream
All-Star
We don't know what the 500 mil number entails. Sacramento has to match the net profit/benefits, not the dollar figure. The key is presenting another offer and making the NBA BOG make a choice on approval. The NBA can justify letting the team move if there are no other offers. If there is an equal offer in Sac and the league still approves the sale to Hansen, then it's another black eye for the NBA and Stern in my opinion. If the NBA leaves Sac, make sure they leave knowing they were in a fight. Don't lay down for them.
Section 101
All-Star
Aaron Bruski @aaronbruski
In other words, assuming all of that is true, then the Maloofs were offered about $350M for their team by Hansen.
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