Seattle rumors/comments - post them here!

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Dime Dropper said:
I'm not sure if the BOG has any say in the actual sale of the team, but they have to approve the application for relocation. Although chances of them rejecting it are slim, I would think.
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No, the NBA has to approve any sale as well. Not sure if that is BOG, commish office (doubtful), a committee, all the owners or what.
 
Dime Dropper said:
I'm not sure if the BOG has any say in the actual sale of the team, but they have to approve the application for relocation. Although chances of them rejecting it are slim, I would think.
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Ok, that makes sense. Still, i was under the impression that Stern was going to allow for other groups (Burkle, etc) to make offers. Whatever, I am so over this sh*t. I guess we will see what happens.
 
Dime Dropper said:
I'm not sure if the BOG has any say in the actual sale of the team, but they have to approve the application for relocation. Although chances of them rejecting it are slim, I would think.
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I am fairly certain that the NBA has to approve any sale. If this report is true, this gives the benchmark for what a Sacramento buyer must match, or at least come close to. In all previous sales Stern and company have given preference to buyers that wanted to keep the team in place. The Maloofs being willing to sell was good news. That they've settled on a figure (reportedly) is not great news, especially given how high a figure it is, but it does lay out what it will take to keep the team here. Until Kevin Johnson concedes that the Kings are leaving there is definitely hope.

We'll see.
 
Hoovtrain said:
How can it be a done deal if Stern just said that this will be decided by BOG?
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I'm guessing that by "done deal" they mean the Maloofs and Hansen's group have agreed on terms, not that the deal has gone through all the hoops it needs to go to. Another tweeted report says the minority owners haven't been informed, which they have to be before any deal is done (let alone approval from the league and stuff).
 
Why would the bog not approve a deal which boosts the value of their franchise.
 
jdbraver said:
Why would the bog not approve a deal which boosts the value of their franchise.
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They have turned down FAR more offers over the years than they have accepted.

We've been through this before. They won't...unless Sacramento can come up wiht an alternate buyer (Burkle) with a similar offer, sans transfer fees.

Takign the Kings to be Ballmer's toy has multiple conseuqences one assumes they would want to avoid. It looks bad, #1, to take a team from a city with a famously fervent fanbase in a city with an ex-NBA player as mayor. But more than that it ends the history of one of the oldest franchises in the league. It loses a Top 20 media market where the NBA has been the only show in town. And it makes each and every owner's own local negotiations harder if other cities don't beleive NBA owners to be a trustworthy bargaining partner.

The NBA wants Ballmer, I have no doubt. But the alternate vision of an NBA with Ballmer, with Burkle, who it also wants, and with hundreds of millions in expansion feeds distributed amongst the owners is possibly even better.
 
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dont understand why the mallofs dont want to sell to a sacremento buyer.... god knows what i whould do if i ever saw them but it whould proberbly put me in prison.... glad im nowhere near them
 
Well, hopefully there will at least be an opportunity for local buyers to get involved before the NBA can approve it. That seems to be the only hope as it appears the Maloofs have agreed on a price. Anyone interested in buying needs to get their act together very, very quickly.
 
It's over. The NBA is not going to turn down a $525M sale. Every owner in the league probably just got $100M richer on paper by this sale. I applaud those who want to keep fighting but I really think this is the final nail in the coffin.
 
LWP777 said:
It's over. The NBA is not going to turn down a $525M sale. Every owner in the league probably just got $100M richer on paper by this sale. I applaud those who want to keep fighting but I really think this is the final nail in the coffin.
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Not to mention that the other owners will no longer have to deal with the Maloofs. At this point, the BOG probably doesn't care where the team ends up as long as they never have to scrape any more Maloof off the bottom of their shoes.
 
LWP777 said:
It's over. The NBA is not going to turn down a $525M sale. Every owner in the league probably just got $100M richer on paper by this sale. I applaud those who want to keep fighting but I really think this is the final nail in the coffin.
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That's nice. Then why don't you let the rest of us work on trying to keep the team while you go sit in a corner?

Edit: and since the terrms appear not to include MSE having any say in operations (as previously demanded), that opens up the option of a local group purchase a little more (no Maloof interference in team operations and dealing with Sacramento politics, etc.).
 
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jdbraver said:
Why would the bog not approve a deal which boosts the value of their franchise.
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The only reason they wouldn't approve it would be if there were another deal that was similar that kept the team in Sacramento.

At this point, assuming the Maloofs have actually reached an agreement with Hansen, that's all we can really hope for.
 
Warhawk said:
That's nice. Then why don't you let the rest of us work on trying to keep the team while you go sit in a corner?

Edit: and since the terrms appear not to include MSE having any say in operations (as previously demanded), that opens up the option of a local group purchase a little more (no Maloof interference in team operations and dealing with Sacramento politics, etc.).
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Hey, it's nothing personal. I don't want the Kings to leave anymore than you do. It breaks my heart. I personally just don't think that there is anything left to be done (if this story is true) but if you want to go out and do your thing I think that's great.
 
LWP777 said:
Hey, it's nothing personal. I don't want the Kings to leave anymore than you do. It breaks my heart. I personally just don't think that there is anything left to be done (if this story is true) but if you want to go out and do your thing I think that's great.
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Well March 1st is the relocation deadline, so anything can happen between now and then. Besides, sales of teams don't just happen. It's a long drawn out process. The highest bidder doesn't always win the bid.
 
A minor point of light possibility is that if under this agreement the Maloofs are out, then its just money. They have no continuing interst in the franchise. And if they have no coninuing interst in the franchise, then you have to remmeber that 47% of the team is owned by loacal Sacramento area people. If its just money the Maloofs are after, Burkle theoretically wouldn't have to match the whole amount. Buy out everybody. He would just have to buy out the Maloofs, and the other Sacto area types would support him and not need to be bought out. There would be no need for a transfer fee. It could be a lot cheaper for him than it is for Ballmer. But you need the NBA to hold things up to make that possible.
 
Bricklayer said:
A minor point of light possibility is that if under this agreement the Maloofs are out, then its just money. They have no continuing interst in the franchise. And if they have no coninuing interst in the franchise, then you have to remmeber that 47% of the team is owned by loacal Sacramento area people. If its just money the Maloofs are after, Burkle theoretically wouldn't have to match the whole amount. Buy out everybody. He would just have to buy out the Maloofs, and the other Sacto area types would support him and not need to be bought out. There would be no need for a transfer fee. It could be a lot cheaper for him than it is for Ballmer. But you need the NBA to hold things up to make that possible.
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Is Ballmer and Hansen buying all the shares? I would think they would only need to purchase the 53% owned by the Maloofs.
 
jpsls said:
Is Ballmer and Hansen buying all the shares? I would think they would only need to purchase the 53% owned by the Maloofs.
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In a normal biz deal where there's majority and minority share holders the deal would be for majority shares - ownership control. Thus Seattle group gets 53% - meaning more of $525M goes to Maloofs. Honestly, I think this is the final nail in the coffin unless something very unexpected happens.

My hope now is build a stadium and get MLB via expansion or the A's.
 
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Agreed this is NOT the end, it may be the beginning of the end but any high value sale involving multiple parties is very complicated, add in all the NBA stings etc. and it has the capacity to be a real rats nest of proceedings. IF the rumors are true that the Maloofs accepted an offer and will have no stake in the team then it is entirely possible that a local offer to keep the team could prevail. The 525 mill number floated is probably an all encompassing offer for all shares and expenses. Minority owners would not have to take the offer, but by the same token if the Maloofs only own 43% outright then a large amount of financial pressure on one 10% owner could really bollocks the whole deal.
 
I dont know if this report is true or not, but its clear what direction the Maloofs wanns go with this. I dont see us having much of a chance unfortunately.
 
PurpleHaze said:
In a normal biz deal where there's majority and minority share holders the deal would be for majority shares - ownership control. Thus Seattle group gets 53% - meaning more of $525M goes to Maloofs. Honestly, I think this is the final nail in the coffin unless something very unexpected happens.

My hope now is build a stadium and get MLB via expansion or the A's.
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Thing is, in a limited partnership arrangement, there is such a thing as a drag along clause, whereby if the majority want to sell their share to an outside party, the minority can be forced to sell as well. I just do not know if that's the case in an NBA partnership or not.
 
Damn Maloofs. They've kept these dealings under wraps, just to try and leave Sacramento out of the picture. The only thing making me upset at this point is I would never have believed someone would offer $525 million for the Kings. They might be worth that in Seattle, but it might make it really hard to find a buyer to keep the team in Sacramento that is willing to pay, even if they don't have to offer that much. Its still going to be a high price, plus paying to help build a new arena.

What really bothers me, too, is Stern has more or less said that Sacramento would be unlikely to get another team. We've almost always had poor owners here by NBA standards. The Maloofs weren't for a while, but they blew it.

I think its going to be really hard to beat this, especially with the league wanting back into the Seattle market so badly. I'm still not giving up until the league approves the purchase and the move.
 
Reke 13 Havoc said:
I dont know if this report is true or not, but its clear what direction the Maloofs wanns go with this. I dont see us having much of a chance unfortunately.
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Maloofs are done. Not their call anymore. Its all about the NBA now. The Maloofs have sold the team for a certian $$ figure...if the NBA signs off on it. If Sacto can match that $$ figure what is the Maloofs excuse going to be why they should get to dictate the sale? They have agreed to leave the NBA entirely. No interest. As far as dictating final results that takes them entirely out of it, and it takes any question of loyalty to fellow owners out of it for the NBA. They are no longer going to be owners.

KJ absolutely has to have a competing offer ready and quick though. And as I've mentioned, he has to sell the vision of Seattle wiht an expansion franchise, because after having come this far there is no way the NBA holds Ballmer out of the league now.

Here's what you want to do. For the NBA you want to counter Seattle vision of a $525million dollar sale, to Seattle, with your vision of $525 million to Sacramento...along with $350-$400 mil to Seattle for an expansion franchise. Ballmer himself may very well like that idea -- think about it. He saves a hundred million dollars or more.
 
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Bricklayer said:
A minor point of light possibility is that if under this agreement the Maloofs are out, then its just money. They have no continuing interst in the franchise. And if they have no coninuing interst in the franchise, then you have to remmeber that 47% of the team is owned by loacal Sacramento area people. If its just money the Maloofs are after, Burkle theoretically wouldn't have to match the whole amount. Buy out everybody. He would just have to buy out the Maloofs, and the other Sacto area types would support him and not need to be bought out. There would be no need for a transfer fee. It could be a lot cheaper for him than it is for Ballmer. But you need the NBA to hold things up to make that possible.
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That was kinda my simplified point a few posts above yours. Thanks for being eloquent about it.

At the very least, we likely have until March 1 to have a formal offer made by a local ownership group. This isn't over, folks! May be a long shot, but by no means over.
 
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