Some good news for once, Anaheim deal hitting snags

Warhawk

Warhawk

Give blood and save a life!
Staff member
#4
#4
This is just one of the many pitfalls that could sink the Anaheim deal. Hence the reason to keep your heads up and keep fighting!
 
Spike

Spike

Subsidiary Intermediary
Staff member
#5
#5
Councilmembers apparently quoting a lack of support from the locals overwhelming their inboxes...
 
Gary

Gary

All-Star
#6
#6
Yah.. I can't see much support coming from the locals either. If Natomas, and West Sac has a basketball team how many would really want Elk Grove to get another? Kind of the same difference. That's pretty much what I am putting all my hopes on.. The only problem though is that the Magoofs seem to be burning bridges here with all these reports that have been coming out. So would they just move next year somewhere else? Even with an Arena deal in place?
 
J

JB_kings

Starter
#8
#8
Spike said:
Councilmembers apparently quoting a lack of support from the locals overwhelming their inboxes...
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When it comes to pushing back against the council, Anaheim residents are experts in that area compared to Sacramento. They are used to keeping a leash on Disney as just about a full time job. If their residents don't want them spending money on upgrading the Honda Center, it will be more than a flood of emails. They are pretty effective at making you chew up a lot of administrative time and getting a project killed. It all depends on how fired up they are about footing the bill.
 
Gary

Gary

All-Star
#9
#9
Brac-o-matic said:
If an arena deal IS in place by next year, would the league let them move? It seems that's the only reason that Stern would support it...
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That might mean the Maloofs would sell then? I can't begin to know about their financials but I assume they are dead in the water pretty much.
 
kennadog

kennadog

Dog On It!
#11
#11
JB_kings said:
When it comes to pushing back against the council, Anaheim residents are experts in that area compared to Sacramento. They are used to keeping a leash on Disney as just about a full time job. If their residents don't want them spending money on upgrading the Honda Center, it will be more than a flood of emails. They are pretty effective at making you chew up a lot of administrative time and getting a project killed. It all depends on how fired up they are about footing the bill.
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Well, I'd like to see it fail, but it may not come out of the citizen's pocket and the money doeasn't come from the city budget. Bonds are sold to private investors to raise the money. Investors are willing to settle for a little less interest on municipal bonds, beacsue they are tax free earnings.

The city guarantees repayment in the event of a default. To pay off the bonds plus ineterest, they will have the lease payments from the Maloofs and likely many types of tourist taxes. So tourists may actually pay back a lot of the money rather than taxes on the citizens. And Anaheim has a huge tourist industry. If Sacramento had that kind of tourist base, we probably could have gotten an arena deal here. Of course, to have tourists, you have to have things to lure tourists....like a nice new arena for bigger conventions.
 
Trueblood

Trueblood

Bench
#12
#12
My only problem is that I've always felt that this has more to do with a cable deal and corporate sponsorship opportunities as opposed to the arena itself. When you get down to it, they could have zero improvements on the arena and the Maloofs would still have more than enough reason to leave. Any arena improvements are seen as just more icing on the cake.
 
Section 101

Section 101

All-Star
#13
#13
Trueblood said:
My only problem is that I've always felt that this has more to do with a cable deal and corporate sponsorship opportunities as opposed to the arena itself. When you get down to it, they could have zero improvements on the arena and the Maloofs would still have more than enough reason to leave. Any arena improvements are seen as just more icing on the cake.
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I believe the NBA has requirements for an arena. They only have 1 locker room so they would have to share with the Ducks.
 
Glenn

Glenn

Hall of Famer
#14
#14
kennadog said:
Well, I'd like to see it fail, but it may not come out of the citizen's pocket and the money doeasn't come from the city budget. Bonds are sold to private investors to raise the money. Investors are willing to settle for a little less interest on municipal bonds, beacsue they are tax free earnings.

The city guarantees repayment in the event of a default. To pay off the bonds plus ineterest, they will have the lease payments from the Maloofs and likely many types of tourist taxes. So tourists may actually pay back a lot of the money rather than taxes on the citizens. And Anaheim has a huge tourist industry. If Sacramento had that kind of tourist base, we probably could have gotten an arena deal here. Of course, to have tourists, you have to have things to lure tourists....like a nice new arena for bigger conventions.
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This is no time to educate the citizens of Anaheim. :) Ya know. What hurts us can hurt them. This mind set has now become a good thing.
 
Glenn

Glenn

Hall of Famer
#15
#15
Section 101 said:
I believe the NBA has requirements for an arena. They only have 1 locker room so they would have to share with the Ducks.
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Aha. A problem that needs to be funded in a vote April 12. Picture palm slapping against forehead. Of course they don't want to share a dressing area with the Ducks.
 
ElRey

ElRey

Starter
#16
#16
Gary said:
That might mean the Maloofs would sell then? I can't begin to know about their financials but I assume they are dead in the water pretty much.
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yeah cash strapped owners don't do well in the NBA. Would love for the Kings to be sold to someone with DEEP pockets like Larry Ellison, who could afford to keep the team here and help out with the building of a new arena. Of course, I'm just dreaming :)
 
S

Superman

All-Star
#18
#18
ElRey said:
yeah cash strapped owners don't do well in the NBA. Would love for the Kings to be sold to someone with DEEP pockets like Larry Ellison, who could afford to keep the team here and help out with the building of a new arena. Of course, I'm just dreaming :)
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Ellison would move the team to San Jose.
 
RookieOfTheDay

RookieOfTheDay

Starter
#20
#20
ElRey said:
yeah cash strapped owners don't do well in the NBA. Would love for the Kings to be sold to someone with DEEP pockets like Larry Ellison, who could afford to keep the team here and help out with the building of a new arena. Of course, I'm just dreaming :)
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The Maloofs shouldn't even be allowed to own a team. There should be a minimum net worth required to be an owner. I'm not sure exactly what that amount would be but it would clearly be somewhere north of what The Maloofs have.
 
RookieOfTheDay

RookieOfTheDay

Starter
#21
#21
Trueblood said:
I wonder if that's the only requirement that they're short on. If so, the Maloofs and Samueli can easily pony up the cost for an extra locker room down there.
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They said a practice facility in addition to locker rooms. That's sure to run into millions. Granted that's pocket change to these guys but they aren't going to spend it if they feel the city should. It's exactly the kind of scenario that can cause deals like this to fall apart. I'm not getting optimistic yet but I'm keeping my fingers crossed.
 
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RookieOfTheDay

RookieOfTheDay

Starter
#22
#22
LPKingsFan said:
My loyalties to Sacramento are strong, but if the team has to move, I'd rather have them move to San Jose than Anaheim.
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That wouldn't be much consolation to me. Sure it wouldn't sting quite bad as the salt in the wound that Anaheim would be but it would still suck majorly and end my tenure as a fan.
 
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