Tetsujin
The Game Thread Dude
Just postulating scenarios here.
Term sheet to be announced and other news, rumors, etc.
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Just postulating scenarios here.
My Info:
JB - Kona Longboards and light salt on the pretzel. Don't let him sit near the Kings coach because he can be abusive.
Section 101
All-Star
They were together for the bid on the Warriors in 2010 .
Where did you hear that? Google appears to have zilch connecting them before today.
Kingsfan23
All-Star
These are businessmen, and there is no one in the world besides these idiots from Seattle who would value this franchise at 525. Something has to come together behind the scenes for this to make financial sense
Trueblood
Bench
Unless our guys are just so passionate about the chance to own a team that they are willing to take a small loss. You can afford to do that when you have over a billion left over even after the losses.
My main concern about Burkle was always that he was a businessman first and Sacramento fan second. Therefore, he would only do something that made financial sense to him and buying the Kings for $525 probably wouldn't qualify as financial sense.
OTOH, Mastrov and this new guy seem to really love the idea of team ownership and would be willing to do something that may slightly hurt their bottom line. But they are willing to go for it because the massaging of their ego that will come from this endeavor outweighs the slight financial loss.
With Burkle, it's all just a matter of whether or not he can make the arena thing pencil out for him. If not, I'm sure KJ has a last gasp backup plan. There's always a chance that one of the other whales can bridge a gap as well on the arena front.
I finally broke my own rule and went there to see what they're saying. They honestly believe the announcement of Vivek as part of the deal is a smokescreen to cover the fact we missed a "major deadline" by not having the term sheet ready today. I guess the Nile isn't jut a river in Egypt. It apparently stretches all the way to Seattle.
City Manager John Shirey announced that the term sheet will not be released today. Considering the addition of Vivek Ranadive to the ownership group, not having the term sheet isn't a deal breaker.
Kingsfan23
All-Star
Mastrov bid 420 for the team he grew up a fan of, and I have still yet to read definitively where he didn't have the opportunity to counter Lacob's final bid.. something has to make financial sense for him too
Glenn
Hall of Famer
I presume they are purchasing the 65% that the Maloofs control and that amounts to $340 mil. Perhaps they want 100% but if they are worried about finances, dividing the cost in thirds or however they wish to do it makes it an easier pill to swallow. The Maloofs bought their portion of the Kings for $185 mil or something like that. I presume that is for the 55% they purchased. There still is a profit to be made in equity so if these three want to build a winner, they at worst don't stand to lose much if anything. Just thinking as who I am, I would be willing to lose some money for the fun of owning a team. After all, the three of them have already spent a life of heavy lifting to get where they are and this might be fun lifting. It certainly seems like Mastrov and Ranadive have a passion for basketball that might make a loss of money less painful. Certainly Cuban is not worried about money because of his passion for basketball.
If they weren't interested in matching the Seattle bid and ensuring a win, they would have folded by now. These are savvy self-made businessmen. They aren't playing around. If you consider the potential of a more globalized team with Vivek Ranadive in the mix, you add more value. And you add the positive impact this has with the BoG when you consider said globalization, something Stern has pushed for for years. Remember, it was Stern who sent the Kings to China. I imagine he's pretty excited about maybe sending them to Mumbai.
As a partial aside, this kind of clears up a question I had last week when Stern just popped up at a Warriors game. Just something else that makes me say, "hmmmmm."
Another kudo to Kevin Johnson and his advisors. They're not only playing to win, they're playing for keeps.
The Hammer
All-Star
My thought on this has always been that there are creative ways to generate income with an asset like a sports team. It's not just one product that you sell.
So for this situation, obviously globalization is right there in the forefront. There's nothing that says the Kings cannot license TV contracts in India, as far as I know. You KNOW Stern is licking his chops at this type of thing. But you do have to have an owner or two willing to promote their team overseas. Ranadive may have a scheme to do this.
The Seattle Mariners are a great example of this. They have a good following in Japan. I don't know if they sell TV rights over there, but I do know that even though they lose a lot, they are consistently one of the most profitable baseball teams. And it's because of their Japanese owners doing their smart marketing **** overseas. The obvious difference is that they had major Japanese starts. One concern is that we don't have Ranadive influencing player moves as part of a marketing plan for the sake of profit.
As I've said before, I'm smart enough to know I don't know all the things that are driving the actions of the whales.
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Ryan
I like turtles
Especially when there's no where other than up for this Kings franchise.
jalfa
Starter
deNile? not bad. not bad at all, gotta remember that one.
Section 101
All-Star
It was somewhere right after it was announced. Either on grants show or twitter.
Section 101
All-Star
You could try selling the wrist bands that all the players are wearing.
Tetsujin
The Game Thread Dude
More from Twitter:
Dale Kasler @dakasler 7m
For those who're wondering about new #NBAKings bidder, it's pronounced 'Rah-nah-DEE-vay."
Ryan Lillis @Ryan_Lillis 7m
Shirey on Ranadive/Mastrov/Burkle: "This is an ownership that has very strong financial credentials."
Sactown Royalty @sactownroyalty 7m
City Manager says some things going for us this time that we didn’t have a yr ago. Team for sale. Very strong ownership team.
Tony Bizjak @TonyBizjak 7m
Shirey: "We're not really worried as to whether the new owners can follow through." They have money.
Tony Bizjak @TonyBizjak 4m
CM Shirey says the city will be willing to refinance the city loan to the Kings as part of an arena deal, if the team stays in Sac.
nickmonacelli @nickmonacelli 3m
Big turnout for first #nbakings arena forum. A lot of @CrownDowntown reps! pic.twitter.com/7uZzTWfB13
Dale Kasler @dakasler 7m
For those who're wondering about new #NBAKings bidder, it's pronounced 'Rah-nah-DEE-vay."
Ryan Lillis @Ryan_Lillis 7m
Shirey on Ranadive/Mastrov/Burkle: "This is an ownership that has very strong financial credentials."
Sactown Royalty @sactownroyalty 7m
City Manager says some things going for us this time that we didn’t have a yr ago. Team for sale. Very strong ownership team.
Tony Bizjak @TonyBizjak 7m
Shirey: "We're not really worried as to whether the new owners can follow through." They have money.
Tony Bizjak @TonyBizjak 4m
CM Shirey says the city will be willing to refinance the city loan to the Kings as part of an arena deal, if the team stays in Sac.
nickmonacelli @nickmonacelli 3m
Big turnout for first #nbakings arena forum. A lot of @CrownDowntown reps! pic.twitter.com/7uZzTWfB13
More Twitter:
Ryan Lillis @Ryan_Lillis 1m
Shirey says parking space monetization, land contributions will be city's subsidy of #arena plan
City of Sacramento @TheCityofSac 1m
The City Manager communicates the need to keep #nbakings in #Sacramento for decades to come. #ESC
Ryan Lillis @Ryan_Lillis 1m
Shirey says parking space monetization, land contributions will be city's subsidy of #arena plan
City of Sacramento @TheCityofSac 1m
The City Manager communicates the need to keep #nbakings in #Sacramento for decades to come. #ESC
Note: To meet legal requirements for public meetings (Brown Act), the final agenda and items to be discussed (i.e. term sheet) doesn't need to be made public until Saturday (48 hours before the meeting). I post this to refute the allegations of some poor Sonics fans who seem to be convinced that not having the term sheet out today was some kind of major failing.
Still more Twitter:
Crown Downtown @CrownDowntown 2m
City manager said this is more than just basketball. Since day one in summer 2010 our philosophy has been #BiggerThanBasketball
Tony Bizjak @TonyBizjak 5m
City contribution to the deal will include land the city wants to see developed, Shirey says. (Likely, it is land near the arena.)
Crown Downtown @CrownDowntown 2m
City manager said this is more than just basketball. Since day one in summer 2010 our philosophy has been #BiggerThanBasketball
Tony Bizjak @TonyBizjak 5m
City contribution to the deal will include land the city wants to see developed, Shirey says. (Likely, it is land near the arena.)
More Twitter:
Tony Bizjak @TonyBizjak 2m
New Downtown Plaza owners are talking about adding a hotel there (as part of an #arena plan), City Mgr Shirey says
Ryan Lillis @Ryan_Lillis 2m
Shirey: big plans for Downtown Plaza, including arena, hotel, office. "We want to see that center thrive."
City of Sacramento @TheCityofSac 2m
City Manager stresses the importance of economic development through the #ESC #Sacramento
Tony Bizjak @TonyBizjak 2m
New Downtown Plaza owners are talking about adding a hotel there (as part of an #arena plan), City Mgr Shirey says
Ryan Lillis @Ryan_Lillis 2m
Shirey: big plans for Downtown Plaza, including arena, hotel, office. "We want to see that center thrive."
City of Sacramento @TheCityofSac 2m
City Manager stresses the importance of economic development through the #ESC #Sacramento
HereWeBoogie
Hall of Famer
well, this is good!
More Twitter:
Ryan Lillis @Ryan_Lillis 2m
Shirey on arena: "It's an investment in our city, it's an investment in our downtown." Says increased tax revenue will boost city coffers
Sactown Royalty @sactownroyalty 1m
Property values, sales, property taxes, sales taxes would ALL increase. This would allow the city to better fund services. -Shirey
Ryan Lillis @Ryan_Lillis 1m
Shirey says Sacramento County will "lend a hand" in #arena financing plan.
Ryan Lillis @Ryan_Lillis 2m
Shirey on arena: "It's an investment in our city, it's an investment in our downtown." Says increased tax revenue will boost city coffers
Sactown Royalty @sactownroyalty 1m
Property values, sales, property taxes, sales taxes would ALL increase. This would allow the city to better fund services. -Shirey
Ryan Lillis @Ryan_Lillis 1m
Shirey says Sacramento County will "lend a hand" in #arena financing plan.
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