kennadog
Dog On It!
The Maloofs can remodel the arena, if they want to pay for it. For 10+ years the Maloofs have said that a remodel of the current arena was NOT ACCEPTABLE and over 10 years ago, the city's consulting engineer said pretty much the same thing. The foundation of the current super cheap arena cannot support an NBA acceptable expansion.
The Maloofs know they are stuck here for an indeterminate period, so they just want to sucker the city into paying for this stupid remodel idea. It's a no go. The city is not going to go for a remodel. Since they can't really expand PBP, they can't add much in the way of luxury seats, more kitchen space, larger concourses, add multi-level concourses, more marshaling space off stage or more loading docks.
Of course it doesn't help that the original architect has a wild hair up his *** about how viable a remodel is, but has absolutely no idea how to finance it. The city rejected that clown already, because he had no proposal for financing such a remodel. The city's current loan to the team is from a bond that still has almost 20 years left on it's term and we're going to spend more on it, for little to no gain? And just what would be the city's security for the new loan. The property most likely isn't worth what is owed to the city right now and a remodel will not increase the value much.
So why are the Maloofs bringing up remodel after 10+ years of saying that was not acceptable to them? I think, because the league has sent them the message that they are not going anywhere for the foreseeable future and that if they insist they can't financially make it in Sacramento, then sell to one of the many potential buyers that wants to keep the Kings in Sacramento. (Like Burkle)
This is just a stupid scam to try and convince the league that they are trying to work with the city on a deal, when in reality they just turned down the best deal they are likely to see. What clowns the Maloofs are and Napear is dumb as dirt when it comes to understanding financing on a deal like this, especially public financing.
The Maloofs know they are stuck here for an indeterminate period, so they just want to sucker the city into paying for this stupid remodel idea. It's a no go. The city is not going to go for a remodel. Since they can't really expand PBP, they can't add much in the way of luxury seats, more kitchen space, larger concourses, add multi-level concourses, more marshaling space off stage or more loading docks.
Of course it doesn't help that the original architect has a wild hair up his *** about how viable a remodel is, but has absolutely no idea how to finance it. The city rejected that clown already, because he had no proposal for financing such a remodel. The city's current loan to the team is from a bond that still has almost 20 years left on it's term and we're going to spend more on it, for little to no gain? And just what would be the city's security for the new loan. The property most likely isn't worth what is owed to the city right now and a remodel will not increase the value much.
So why are the Maloofs bringing up remodel after 10+ years of saying that was not acceptable to them? I think, because the league has sent them the message that they are not going anywhere for the foreseeable future and that if they insist they can't financially make it in Sacramento, then sell to one of the many potential buyers that wants to keep the Kings in Sacramento. (Like Burkle)
This is just a stupid scam to try and convince the league that they are trying to work with the city on a deal, when in reality they just turned down the best deal they are likely to see. What clowns the Maloofs are and Napear is dumb as dirt when it comes to understanding financing on a deal like this, especially public financing.