Such a Sad day....

Does anyone know if this $500 Million figure includes the debt owed to the city and the league?
 
Dave Softy Mahler ‏@Softykjr
What we r hearing from a source: Deal moving along nicely but not done. No pending announcement. Hope to have deal done by end of month


knew it, were about to get dicked around for weeks. this is just day 1
 
Reke 13 Havoc said:
Dave Softy Mahler ‏@Softykjr
What we r hearing from a source: Deal moving along nicely but not done. No pending announcement. Hope to have deal done by end of month


knew it, were about to get dicked around for weeks. this is just day 1
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No no, that's a GOOD thing. That's a month for Sacto to put together the competing deal and get it under Stern's nose.
 
Radio reports out of Seattle say deal has been rejected by Maloofs. Obviously, the interest in Seattle is as big or bigger than in Sac. Reports are that George Maloof was not satisfied with "fine print" in the offer after he personally went to Seattle to negotiate with the Hanson group. More news to come...
 
Mojo said:
Does anyone know if this $500 Million figure includes the debt owed to the city and the league?
Click to expand...

That $500 figure hasn't been verified. It could be a $350 offer.

But as Bruschi has stated a local buyer can be $50-75 lower and the maloofs would still get more money out of the deal due to paying off the city loan and relocation fees from a outside buyer.
 
Im not buying it until its FINALIZED. But rest assured, once its finalized I will be jumping ship immediately. Im happy that the organization will enjoy an owner with bigger pockets. That being said i just cant get behind a team that isnt in california. Ill be rsvp'ing on Warriors and Clippers boards while i decide which to join lol. Its aint over yet!
 
funkykingston said:
Why wouldn't it be? The Maloofs flirt with Virginia Beach (which seemed like a ploy from the start) and then leak out a figure they'd accept to entice Hansen's group to make their bid. Then they turn to KJ and ask him to beat it.

After all, why turn to KJ first and see if he has a buyer that can meet their asking price if they can squeeze out more money using the Seattle group for leverage.

The good news here is that the Maloofs are apparently going to sell. The next step is seeing if Sacramento can have a buyer ready to keep the team here. It will be an interesting situation to watch. I certainly hope it all ends with the Kings in town, a new arena and no Maloofs. Is that too much to ask for?
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You and I are on the same page. This is what we wanted, for the Maloofs to be willing to sell. At this point, the Maloofs are going to try and get the best deal possible, and to be honest, I can't blame them for that. Now is the time for Johnson and the buyers he susposedly has lined up, to step to the plate and engage in the negotiations. A local buyer has more financial leverage than a buyer in Seattle. He doesn't have to immediately pay off the arena loan. He doesn't have to pay a relocation fee. Whatever payment plan the Kings have with the league, will probably remain in place, and most importantly, he doesn't have to build an arena, as long as the arena deal is still in place.

Is Hansen going to pay the Maloofs $500 billion, pay the relocation fee, pay the 70 million owed to the city of sacramento, pay the susposed $100 mil owed to the league, and not ask the Maloofs to absorb any of that debt in the sale? If so, by the time he also pays for an arena, the total cost would approach 1 billion dollars. Thats a chunk of change even for a billionaire. If he is asking the Maloofs to take care of both loans, then a local buyer could actually offer less overall, with the Maloofs walking away with more out of the deal than the deal with Hansen, because both loans could be rolled over to the new owner. All the Maloofs have been paying on the city loan is the interest, which is why the principle hasn't gone down. Hell, the city could even renogiate a new loan to make it more palatable.
 
bajaden said:
You and I are on the same page. This is what we wanted, for the Maloofs to be willing to sell. At this point, the Maloofs are going to try and get the best deal possible, and to be honest, I can't blame them for that. Now is the time for Johnson and the buyers he susposedly has lined up, to step to the plate and engage in the negotiations. A local buyer has more financial leverage than a buyer in Seattle. He doesn't have to immediately pay off the arena loan. He doesn't have to pay a relocation fee. Whatever payment plan the Kings have with the league, will probably remain in place, and most importantly, he doesn't have to build an arena, as long as the arena deal is still in place.

Is Hansen going to pay the Maloofs $500 billion, pay the relocation fee, pay the 70 million owed to the city of sacramento, pay the susposed $100 mil owed to the league, and not ask the Maloofs to absorb any of that debt in the sale? If so, by the time he also pays for an arena, the total cost would approach 1 billion dollars. Thats a chunk of change even for a billionaire. If he is asking the Maloofs to take care of both loans, then a local buyer could actually offer less overall, with the Maloofs walking away with more out of the deal than the deal with Hansen, because both loans could be rolled over to the new owner. All the Maloofs have been paying on the city loan is the interest, which is why the principle hasn't gone down. Hell, the city could even renogiate a new loan to make it more palatable.
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Hey for $500 BILLION, I would sell out too hahaha :p
 
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Jason Jones is catching hell on Facebook for being the worst beat writer ever lol. they are right he has no insight ever just some game notes. for instance today he said this. sucks to be a kings fan today. thats it nothing no info.
 
The_Jamal said:
To me, a move is a small-price to pay to finally get rid of the Maloofs. Everything that's wrong with this franchise can be traced back to them being terrible owners.
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Absolutely disagree. My feeling for basketball and the Kings far out weigh any feeling about the
maloofs.
 
The_Jamal said:
To me, a move is a small-price to pay to finally get rid of the Maloofs. Everything that's wrong with this franchise can be traced back to them being terrible owners.
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definitely a comment from someone that either doesn't live in the Sacramento area or doesn't actually go to the games
 
Reke 13 Havoc said:
definitely a comment from someone that either doesn't live in the Sacramento area or doesn't actually go to the games
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I haven't lived in sac for over 15 years and I do think the team would be better off with new owners, even in a different city. That being said: these are our SACRAMENTO KINGS and it would be a travesty to the fans both near and far to move them. F the Maloofs and their entire goofy, pathetic family
 
im just saying if he thinks the team moving is not a big deal, he probably lives in a different area, so the team moving doesnt really effect him
 
I would be gutted if the team is moved to Seattle. Seattle do deserve a team but not at the expense of Sacramento that has gone above and beyond what was expected to get the arena deal done.

For the time being, I am going to take a glass half full approach on this one and see it as a good thing because it is a sign that the Maloofs are willing to sell. I can't help but think that there are other potential ownership groups out there who can match the offer to keep the team in Sacramento.

Sacramento is a good market, a single professional sports city and has proven to have a passionate fan base when owners care about the team and put a good product on the floor. The longer this drags on, I think it helps our case because it gives another chance for KJ to come in and drag the Kings back to Sacramento once again. I have to believe that KJ has been working diligently behind the scenes to get the ownership group together that will at least match Hensen's offer.

Surely!!! :(
 
Reke 13 Havoc said:
im just saying if he thinks the team moving is not a big deal, he probably lives in a different area, so the team moving doesnt really effect him
Click to expand...

Maybe so. But, again, what's our alternative? I can sympathize, but I certainly can't relate. I tend to have a more macro view of the situation: what else could I have?
 
Man this sucks for Kings fans. I hate to see a small market team leave. I am so grateful for the Miller family (owners of the Jazz) and hope that something can be worked out to keep the team in Sacramento.
 
Don't normally listen to Napear's show: does he usually talk like this? It sounds like he's reading from a really slow teleprompter.
 
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