The View from Seattle.....

[Kingster]

http://seattletimes.nwsource.com/html/stevekelley/2018117425_kelley02.html

 

[Rookie]

It's not gonna happen. If the NBA is going to help anyone it would be Sacramento. Stern already know how much the fans are willing to sacrifice for their team...seattle fans...hmm?

Keep on dreaming Seattle...keep on dreaming.

 

[JB_kings]

Sorry to disappoint the writer from Seattle, but they are no closer to getting the Kings. If there is a sale of the team, there are at least two well qualified prospective owners willing to do the same arena deal that was offered by the city Sacramento and endorsed by the NBA. He forgot the other recent lesson from Stern, he stuck his neck out to make sure the Hornets stayed in New Orleans.

 

[Siranthony]

Sorry to disappoint the writer from Seattle, but they are no closer to getting the Kings. If there is a sale of the team, there are at least two well qualified prospective owners willing to do the same arena deal that was offered by the city Sacramento and endorsed by the NBA. He forgot the other recent lesson from Stern, he stuck his neck out to make sure the Hornets stayed in New Orleans.

Not to mention if the scenario he wants played out it would leave Sacramento with a 67 million dollar debt and no team to pay for it. But who cares as long as you get what you want right? You would think there would be some honor among cities.

 

[funkykingston]

Not to mention if the scenario he wants played out it would leave Sacramento with a 67 million dollar debt and no team to pay for it. But who cares as long as you get what you want right? You would think there would be some honor among cities.

I doubt the writer is that familiar with the financial arrangements between the Maloofs and the city. And given that circumstance I can see where the inspiration to write an article like this comes from. Seattle SHOULD have a team and now they have a rich potential owner moving forward on a deal for a new arena while to the world the arena deal is dead in Sacramento. From an outside perspective it seems to be a good situation for Seattle to get back a team. But I agree with JB that IF the NBA somehow forced the Maloofs to sell they'd only be on the move IF no owner could be found to keep the team in Sacramento and as we already know, KJ has apparently lined up Ron Burkle to do exactly that should the situation arise.

In fact, the sad fact is that the best chance for Seattle to get the Kings would actually be for the Maloofs to hang onto control of it, let the team basically wither on the vine and die while maintaining a minimum payroll for a few years and alienating fans while not taking steps to upgrade their facility and then negotiate a sweetheart deal to Seattle when and if their arena gets built.

I'd hate to see this situation drag out that way and I really hope it doesn't but it is a possibility I've thought about.

But on a positive note, the good thing I did take away from this article is that despite the Maloof's PR spin that they backed out in part because the deal was "bad for Sacramento" (yeah right, so why were they insisting on changes that would make it much worse?) and using Napear as a mouthpiece along with carefully screened callers to try and sell their garbage locally the national view is the right one. That the Maloofs backed out of a good deal and are an embarrassment to the league. I'm glad to see that media outside of Sacramento see things for what they are.

 

[Jose]

Hey.... "Dream Big" ... he says so at the end. The guy can dream, can't he?

Love the digs at the Maloofs, but what I'd really like to know is how he figures they can have an arena planned, funded, approved, built, and ready to use to start the 2014 season.

Oh wait... dreaming again....

 

[Circa_1985_Fan]

This writer sounds like MOST other writers and media folks OUTSIDE of Sacramento...easy visions of granduer are commonly thrown at the Kings situation without thought. The only true facts he gave in this article were that the Maloofs suck and that there will be ALOT more twists and turns before this thing is all said and done.

 

[pdxKingsFan]

We have a saying about Seattle in Portland, but I can't type it here. It's only two words and begins with F though.

 

[kennadog]

Well, it seems to me, that if the Maloofs were willing to sell the team, then it would be even easier to sell to Burkle and get an arena done in Sacramento.

 

[Anthony1]

http://www.nba.com/2012/news/05/16/seattle-arena.ap/

Why is nobody talking about this. This is HUGE news. It might be some very negative news for Sacramentans, but this is pretty huge, and very scary.

 

[pdxKingsFan]

I don't think the Maloofs want Seattle and I doubt the NBA would allow this relocation after what they did to Sac. No way can the Maloofs move to an arena that isn't built yet unless it is in Sac.

 

[JB_kings]

Situation is not much different. Chris Hansen has to rely on a willing owner ready to sell a team. If that team is the Kings and the Maloofs see the light and become ready to sell, Hansen has to get on a list of groups ready to purchase a team. Then Stern gets involved and they evaluate the bids and it becomes a back and forth process. There are other aspects of the bid besides total amount willing to pay. Considering that the Maloofs really pissed off the league and they might want to make a point, then a bidder who doesn't want to move and is willing to agree to the terms of the last negotiated term sheets would have an advantage over a bid for a team contingent on being moved to another city. Actually the total bid will be a non-issue because I can promise you that Stern will squeeze out every last penny of the team's market value no matter who is bidding.

 

[pdxKingsFan]

I'm also a little unclear because WA State put it in the books that public financing is not legal so how do they get around that? The people from the Eastern side of the state will be all over this the same way the CAVE people in Sac are, except they may have legal standing to do so.

 

[kennadog]

http://www.nba.com/2012/news/05/16/seattle-arena.ap/

Why is nobody talking about this. This is HUGE news. It might be some very negative news for Sacramentans, but this is pretty huge, and very scary.

I can't imagine the league approving a Kings move to Seattle for the Maloofs, with them owing $65 million in Sacramento. That would be horrible PR for the NBA.

Right now, the Maloofs aren't willing to sell the team either and I think the league would first consider a sale to a new owner who would keep the team in Sacramento, anyway. So, not very scary news to me.

 

[Tetsujin]

Situation is not much different. Chris Hansen has to rely on a willing owner ready to sell a team. If that team is the Kings and the Maloofs see the light and become ready to sell, Hansen has to get on a list of groups ready to purchase a team. Then Stern gets involved and they evaluate the bids and it becomes a back and forth process. There are other aspects of the bid besides total amount willing to pay. Considering that the Maloofs really pissed off the league and they might want to make a point, then a bidder who doesn't want to move and is willing to agree to the terms of the last negotiated term sheets would have an advantage over a bid for a team contingent on being moved to another city. Actually the total bid will be a non-issue because I can promise you that Stern will squeeze out every last penny of the team's market value no matter who is bidding.

This. Stern has already shown that he is willing to bypass the highest bidder on a team for someone else (see Larry Ellison, repeatedly).

 

[Anthony1]

I can't imagine the league approving a Kings move to Seattle for the Maloofs, with them owing $65 million in Sacramento.

The Kings would be REQUIRED to pay back the 65 million.... right? Before they would be allowed to leave? Are there any conditions in which the Kings could leave and not be forced to pay the 65 million first?

Anyways, I'm sure that Chris Hansen would loan the Kings enough to pay off the loan, just like Samueli would have done. The idea, is just get the damn NBA team there, and then eventually the Maloofs are going to have to sell, and you'll be there to buy them up. I'm guessing that's what both Samueli and Hansen are thinking. Get the team there, playing games, and then worry about the rest of it later.

 

[Capt. Factorial]

The Kings would be REQUIRED to pay back the 65 million.... right? Before they would be allowed to leave? Are there any conditions in which the Kings could leave and not be forced to pay the 65 million first?

The Maloofs could in principle default on the loan, which would then give over their collateral to the city - PBP and a certain amount of shares in the team (non-controlling-interest shares, or whatever they're called, I'm sure). Now the NBA might not let them do that (how?), but outside of the NBA there isn't really anything else stopping them from defaulting.

Anyways, I'm sure that Chris Hansen would loan the Kings enough to pay off the loan, just like Samueli would have done. The idea, is just get the damn NBA team there, and then eventually the Maloofs are going to have to sell, and you'll be there to buy them up. I'm guessing that's what both Samueli and Hansen are thinking. Get the team there, playing games, and then worry about the rest of it later.

Well, if you think loaning $65M to the Anti-Midas Family when they're reluctant to, nay adamant that they will not put up collateral (or sign a binding lease, for that matter) is a good idea, then you keep thinking that.

 

[JB_kings]

Chris Hansen is not the arena fairy for Seattle. He's not going to put up hundreds of millions of dollars to build an arena for the Maloofs and watch them demand all the profits from the arena. The fact is that Hansen's plan is to buy a team and move them there. The city's plan is to only put in their contribution if Hansen has a team. There are a lot of questions and holes in Seattle and their new arena has to face a lot of challenges. So even if the Maloofs were to sell and Hansen is a bidder, his arena deal is shakier than the one Sacramento had in place.