The Seattle Arena Situation - I Am Geting a Little Paranoid

[PurpleHaze]

Yes, but they will be remodeling PBP. Right? Back to Stern, so you think the first time the Maloofs have a chance to petition for a move, he will go back on his word. I figured it was good for at least one year.

I doubt they lift a finger to remodel PBP unless NBA or city pays for it. Seems a no go with both so more likely Maloofs simply want out of Sac to land almost anywhere - Kansas City, Louisville, Seattle, Vancouver, St. Louis, Anaheim, San Diego, Las Vegas...

And to the one year thing, it would be basically up by March 1 since that is lining up with end of 2012-13 season and then everyone knows all bets are off. Once you file for relocation it's several months before BoG votes since they have to study the proposal carefully.

 

[Section 101]

Of course what Stern said in his most recent comment on Kings situation is the franchise would not be moving "at this time." It implies that things could change later, like next March 1 when Maloof's could petition NBA to relocate... somewhere.

The inference was the BoG would not vote for relocation under the current curcumstances. That means March 1st unless something else happens between now and then. It would take something like seattle where voters said the state could not spend money on an arena. Currently, there is nothing on the city ballot.

 

[VF21]

The Maloof-owned Kings are not going anywhere in the near future. Why? For the real and simple reason that they are not going to be rewarded by the NBA for bad behavior. If they do file for relocation, it will further expose them for the frauds they are. If we want to worry about anything, it should be whether or not the Maloofs can/will open their wallets to improve the team roster. My guess? They don't have the money.

 

[kennadog]

The Maloof-owned Kings are not going anywhere in the near future. Why? For the real and simple reason that they are not going to be rewarded by the NBA for bad behavior. If they do file for relocation, it will further expose them for the frauds they are. If we want to worry about anything, it should be whether or not the Maloofs can/will open their wallets to improve the team roster. My guess? They don't have the money.

I just want to smack them upside the head and say, "Sell the d@*n team, already!"

 

[Spike]

The Maloof-owned Kings are not going anywhere in the near future. Why? For the real and simple reason that they are not going to be rewarded by the NBA for bad behavior. If they do file for relocation, it will further expose them for the frauds they are. If we want to worry about anything, it should be whether or not the Maloofs can/will open their wallets to improve the team roster. My guess? They don't have the money.

I hope, and fear, that you are right...

 

[Trueblood]

The one thing that I worry about is the possibility that they made it a priority to sell even if the arena deal had gone through but backed out of the arena deal because the sale price here was too low for their liking. Instead, they started getting outside bids and realized that selling to an outside bidder would make more long term sense than agreeing to an arena deal and settling for a "Sacramento price".

Again, this is just something I'm throwing out since we're ultimately still confused about why the Maloofs backed out. We'll see soon enough. If Seattle city council votes to approve of Chris Hansen's deal and he has the green light to acquire a team and break ground but he doesn't buy the Kings then we can all take a deep breath and relax for the time being.

 

[ParniValjak]

The one thing that I worry about is the possibility that they made it a priority to sell even if the arena deal had gone through but backed out of the arena deal because the sale price here was too low for their liking. Instead, they started getting outside bids and realized that selling to an outside bidder would make more long term sense than agreeing to an arena deal and settling for a "Sacramento price".

Again, this is just something I'm throwing out since we're ultimately still confused about why the Maloofs backed out. We'll see soon enough. If Seattle city council votes to approve of Chris Hansen's deal and he has the green light to acquire a team and break ground but he doesn't buy the Kings then we can all take a deep breath and relax for the time being.

They backed out because they do not have enough finances to get it done. Its that simple!

As for selling to outsiders, remember that NBA has to approve each sale so even if the Maloofs sell to someone who wants to move the team, the NBA will not approve the sale because they want to move the team in Sacramento.

Its the reason why Larry Ellison has so many failed attempts to buy the team despite being one of the richest men in the world. He want to buy a team and move it to Kansas City but the NBA has no interest of approving the sale of the team if they don't want it moved.

 

[Section 101]

They backed out because they do not have enough finances to get it done. Its that simple!

As for selling to outsiders, remember that NBA has to approve each sale so even if the Maloofs sell to someone who wants to move the team, the NBA will not approve the sale because they want to move the team in Sacramento.

Its the reason why Larry Ellison has so many failed attempts to buy the team despite being one of the richest men in the world. He want to buy a team and move it to Kansas City but the NBA has no interest of approving the sale of the team if they don't want it moved.

You mean San Jose.

 

[Trueblood]

They backed out because they do not have enough finances to get it done. Its that simple!

As for selling to outsiders, remember that NBA has to approve each sale so even if the Maloofs sell to someone who wants to move the team, the NBA will not approve the sale because they want to move the team in Sacramento.

Its the reason why Larry Ellison has so many failed attempts to buy the team despite being one of the richest men in the world. He want to buy a team and move it to Kansas City but the NBA has no interest of approving the sale of the team if they don't want it moved.

I don't know. $75 million plus minor interest over a 30 year period just isn't that big a financial commitment. I mean seriously, how many other arena deals had the NBA fronting as much as $75 million? This deal was very reasonable. I hope you're right but I have to think other factors are involved.

Yes, the league wants to stay in Sacramento and again, I'm looking at a worst case scenario. But if the Maloofs get offered $425 million from Hansen and the best Sacramento offer is in the $300 to $350 range, will the league automatically go in Sacramento's favor?

It's one thing to block Ellison since he wants to move to San Jose. That's the Warrior's market and the league has a vested interest in protecting their owners. With Seattle, the league would be clearing one of it's most recent black eyes and that was the relocation of the Sonics to OKC. It's easier to say yes to them than it would be to Ellison. I hope not but it's just something to think about.

 

[Glenn]

Will someone please explain what Stern meant? There is only one time in the year where a team can apply to move and then move. People on this forum are so negative it is unbelieveable. When Jim Thomas bought the team, we knew he was going to move. when the Maloofs bought the team we knew they were going to move even while at the same time they wee building homes in Sacto.

Maybe it's because Luckenbill promised the Kansas City people the team wouldn't be moved before he moved the team to Sacto.

 

[VF21]

Stern means what Stern means...which means you can find meaning like peeling an onion. The Maloofs are not going to file for relocation next March. If they did, the BoG would laugh in their face. There is no indication that they had any destination in mind other than Anaheim, and at this point there aren't many places that would even consider doing business with them. They made a big mistake in backing out of the Sacramento deal, and may not have realized how bad it would look to any potential business partners going forward. They have less than zero credibility and there are other teams out there for the wooing whose owners don't have nearly the negative image the Maloofs do.

Some people just have to always try and look at the worst possible scenario, even when it's pretty apparent it's not going to happen. I've said it before and I'll say it again - our concern now shouldn't be that the Maloofs are going to try and jump ship at the earliest possible moment. What should really have us chewing our nails is the financial situation of the Maloofs. Will they even let Petrie try and acquire any free agents or are we going to be stuck once again with the lowest payroll in the league? That's what keeps me awake at night, not some remote possibility that the Maloofs will either sneak out of town or sell to a buyer from another city. Remember, Stern and the BoG have to approve sales, too, and I think Stern has been pretty clear in not wanting to let the Maloofs do anything that isn't in the best interests of the NBA. They chose this path; Stern is letting the ultimate game of "be careful what you wish for" play out in living color for all to see.

 

[ParniValjak]

Stern means what Stern means...which means you can find meaning like peeling an onion. The Maloofs are not going to file for relocation next March. If they did, the BoG would laugh in their face. There is no indication that they had any destination in mind other than Anaheim, and at this point there aren't many places that would even consider doing business with them. They made a big mistake in backing out of the Sacramento deal, and may not have realized how bad it would look to any potential business partners going forward. They have less than zero credibility and there are other teams out there for the wooing whose owners don't have nearly the negative image the Maloofs do.

Some people just have to always try and look at the worst possible scenario, even when it's pretty apparent it's not going to happen. I've said it before and I'll say it again - our concern now shouldn't be that the Maloofs are going to try and jump ship at the earliest possible moment. What should really have us chewing our nails is the financial situation of the Maloofs. Will they even let Petrie try and acquire any free agents or are we going to be stuck once again with the lowest payroll in the league? That's what keeps me awake at night, not some remote possibility that the Maloofs will either sneak out of town or sell to a buyer from another city. Remember, Stern and the BoG have to approve sales, too, and I think Stern has been pretty clear in not wanting to let the Maloofs do anything that isn't in the best interests of the NBA. They chose this path; Stern is letting the ultimate game of "be careful what you wish for" play out in living color for all to see.

Spot on! Maloofs are getting Sterned and sooner or later they will crack under pressure!

As for spending money in the free agency, I think we all know the answer to that question! Maloofs pretty much said they will rely on revenue sharing to stay afloat which Stern said wouldn't be a smart idea. Expect more of the same in terms of spending. We will be at minimum again this year but if even if we could spend big, given the current situation with the ownership I don't think any decent FA would come here! Draftees are side stepping us so you can imagine what FA would do given that they have more control of their destiny!

 

[Glenn]

Stern means what Stern means...which means you can find meaning like peeling an onion. The Maloofs are not going to file for relocation next March. If they did, the BoG would laugh in their face. There is no indication that they had any destination in mind other than Anaheim, and at this point there aren't many places that would even consider doing business with them. They made a big mistake in backing out of the Sacramento deal, and may not have realized how bad it would look to any potential business partners going forward. They have less than zero credibility and there are other teams out there for the wooing whose owners don't have nearly the negative image the Maloofs do.

Some people just have to always try and look at the worst possible scenario, even when it's pretty apparent it's not going to happen. I've said it before and I'll say it again - our concern now shouldn't be that the Maloofs are going to try and jump ship at the earliest possible moment. What should really have us chewing our nails is the financial situation of the Maloofs. Will they even let Petrie try and acquire any free agents or are we going to be stuck once again with the lowest payroll in the league? That's what keeps me awake at night, not some remote possibility that the Maloofs will either sneak out of town or sell to a buyer from another city. Remember, Stern and the BoG have to approve sales, too, and I think Stern has been pretty clear in not wanting to let the Maloofs do anything that isn't in the best interests of the NBA. They chose this path; Stern is letting the ultimate game of "be careful what you wish for" play out in living color for all to see.

Well, young lady, that's what I thought!! Good note.

As to their finances crippling the Kings, the minimum salary will be 90% of the salary cap in another year. They are getting backed into a corner. Even if they hover at the minimum, it may not make much difference of who they put on the floor. Where it will still hurt is with the coaches, GMs, and others whose salary the NBA does not control.

 

[ParniValjak]

Well, young lady, that's what I thought!! Good note.

As to their finances crippling the Kings, the minimum salary will be 90% of the salary cap in another year. They are getting backed into a corner. Even if they hover at the minimum, it may not make much difference of who they put on the floor. Where it will still hurt is with the coaches, GMs, and others whose salary the NBA does not control.

And thats another reason why I think they will be backed into the corner! 80% this season, 85% next season and 90% the season after (2013-2014)...not sure Maloofs can cope with that increase. They are barely breaking even as is and when the pressure starts tightening, they will crack and sell! It won't be pretty, it won't be quick but it will happen...eventually!

 

[JB_kings]

And thats another reason why I think they will be backed into the corner! 80% this season, 85% next season and 90% the season after (2013-2014)...not sure Maloofs can cope with that increase. They are barely breaking even as is and when the pressure starts tightening, they will crack and sell! It won't be pretty, it won't be quick but it will happen...eventually!

Their annual payments on the '97 loan are supposed go up pretty dramatically in the next few years too. And after the PR mess they have created, business partners are going to be hesitant to advertise or purchase suites. I imagine even these dense brothers can see that they are going to be squeezed financially from a number of sources.