"The kids have no money"

[MDM]

New article to talk about for the day:

http://www.latimes.com/sports/la-sp-sacramento-kings-anaheim-20110416,0,586448.story

"The model of allowing Burkle and Johnson to work toward a new downtown arena on a 230-acre plot is considered no less impressive than the financially struggling Maloofs' attempt to move into the nearly 20-year-old arena in Anaheim, some league officials said.

"The kids have no money," the NBA team official said."

 

[pdxKingsFan]

Why is this NBA team official randomly speculating without cause about the Maloof's personal finances?

Comments section makes the Bee spammers seem enthusiastic.

 

[The Hammer]

And here is Buss's/Sterling's impact. Just tear them apart in the media. This article is about as pro-keep-the-kings-in-sac as we've seen... and from the LA times no less. Granted it will be viewed as biased, but you can't undo some of the quotes the article unearthed.

 

[ArcoKings]

If its true that the Maloofs have financial problems why don't they put up the team for sale and create a bidding war between Burkle, Samueli, Ellison and everyone else that hasn't been mentioned? By selling the team the Maloofs won't have to pay the $77 million loan and probably any NBA loan they may have acquired. Look how expensive the Warriors were. I doubt Samueli's offer of a personal loan comes close to what the Maloofs may get for the Kings after a bidding war. They walk away with some heavy cash and invest in other stuff. Just a thought.

 

[Section 101]

If its true that the Maloofs have financial problems why don't they put up the team for sale and create a bidding war between Burkle, Samueli, Ellison and everyone else that hasn't been mentioned? By selling the team the Maloofs won't have to pay the $77 million loan and probably any NBA loan they may have acquired. Look how expensive the Warriors were. I doubt Samueli's offer of a personal loan comes close to what the Maloofs may get for the Kings after a bidding war. They walk away with some heavy cash and invest in other stuff. Just a thought.

It wouldnt be a bidding war. The league prefers to sell to people who plan on keeping teams in small markets. The league has to approve any sale. Of those three only 1 would be a local ownership group.

 

[The Hammer]

If its true that the Maloofs have financial problems why don't they put up the team for sale and create a bidding war between Burkle, Samueli, Ellison and everyone else that hasn't been mentioned? By selling the team the Maloofs won't have to pay the $77 million loan and probably any NBA loan they may have acquired. Look how expensive the Warriors were. I doubt Samueli's offer of a personal loan comes close to what the Maloofs may get for the Kings after a bidding war. They walk away with some heavy cash and invest in other stuff. Just a thought.

My speculation on that is that there are benefits besides cash that come with owning an NBA team. Number one, you can be on tv whenever you want. I'm thinking they're thinking they will leverage that exposure for the benefit of their growing youth/extreme sports businesses. After all they've named one of the major things after THEMSELVES. Maloof Money Cup. Plus they're moving into other entertainment/TV stuff... and owning a team just gives you so many intangibles and status. But it is status that can be turned into cash.

 

[rainmaker]

If its true that the Maloofs have financial problems why don't they put up the team for sale and create a bidding war between Burkle, Samueli, Ellison and everyone else that hasn't been mentioned? By selling the team the Maloofs won't have to pay the $77 million loan and probably any NBA loan they may have acquired. Look how expensive the Warriors were. I doubt Samueli's offer of a personal loan comes close to what the Maloofs may get for the Kings after a bidding war. They walk away with some heavy cash and invest in other stuff. Just a thought.

Not sure that could be done, but I like the idea of something along those lines happening. That would net the Maloofs a coniderable profit, then they could buy NO from the league for just over $300M, and have tens of millions left for other investments.

 

[fansinceday1]

"An NBA team official familiar with the Board of Governors' relocation committee discussions but unauthorized to discuss them publicly said the league is intrigued by the 11th-hour entry of Burkle, a co-owner of the NHL's Pittsburgh Penguins, and impressed by how quickly Johnson mobilized what Stern said was $9 million in team sponsorship and season-ticket buyers."

The point that KJ was able to put together that kind of money while the maloofs couldn't or wouldn't shows the NBA and the other owners that Sac may just be a viable market. A small market but a viable market nonetheless. In my book this proves that the maloofs have been looking for a way out of here for a while now. There is money here, just not the kind of money the maloofs NEED. Sell the team boys.... your out of your league.

 

[ArcoKings]

I agree. Sacramento is a very good market. The city has proven that. No question. The low attendance of the last few years has been attributed to bad teams and high ticket prices and of course the lousy economy. The no new arena issue is something else.

 

[wazzups]

Wow the league is starting to question the ability of the team owners to pay for stuff?????? JUST WOW! We have been watching this team rebuild from the draft...... it takes a long time but..... imagine they are doing it like that cuz there is ZERO dollars to spend.
THE OWNERS ARE IN TROUBLE!!!!!!!!!!!!!!!!!!!!

 

[gunks]

I hope the Maloofs sell.

I'm not exactly optimistic on the ability of a family 100 million in the hole to have the money to spend on talent.

 

[Jim Les]

"The kids have no money." Hmmmm, pretty condescending. Anyone else think that the rest of the league owners are looking at the Maloofs as rich kids with zero business sense?

KJ pulled together money and a buyer in a hurry, and the Maloofs have seemingly no information about the complicated details of the TV deal, the money owed to Sacramento, and any other potential obstacles they would face. Could this possibly put David Stern in the precarious situation of having to choose between a city he doesn't care for and owners he has little faith in?

 

[wazzups]

I bet you the league made a lot of money off this market. When the Maloofs were paying for talent. Hell i bet the Lakers were making a lot of money off of the rivalry Kings talent level too.....The league needs that back and i think they are starting to see that.

 

[CPR]

It looks like it's about as clear cut as it has for many months regarding the City's chances of keeping the Kings here.

1. The financial committments the Mayor presented have to check out with no hiccups.
2. The City/Mayor/ICON have to add some more details to prove that the Arena is do-able here and that this feasilbity study is going to produce a plan that is really going to work this time.

The Mayor did one hell of a job thwarting the Maloofs plans for a couple weeks. Let's keep our fingers crossed that he can do it one more time. I certainly did not expect him to be as successful as he was. Kudos to Mayor Johnson.

 

[Glenn]

It looks like it's about as clear cut as it has for many months regarding the City's chances of keeping the Kings here.

1. The financial committments the Mayor presented have to check out with no hiccups.
2. The City/Mayor/ICON have to add some more details to prove that the Arena is do-able here and that this feasilbity study is going to produce a plan that is really going to work this time.

The Mayor did one hell of a job thwarting the Maloofs plans for a couple weeks. Let's keep our fingers crossed that he can do it one more time. I certainly did not expect him to be as successful as he was. Kudos to Mayor Johnson.

...................... and don't put any arena proposal up to the vote of the people.

 

[Livinthedream]

...................... and don't put any arena proposal up to the vote of the people.

Yes, please don't leave it to a vote. The only votes you need were the ones you got to be mayor. You ran on the fact that you would keep the kings and get an arena built. So make it happen.