Virginia Beach Kings?!

[kennadog]

Apparently, this is original source of info on move and it contains lot of name calling by Maloofs and their spokespeople - to say the least!

http://insidebiz.com/news/sources-sacramento-kings-may-move-virginia-beach-arena-deal-works

Yes, this is the source, a local newspaper. So the developers of their new arena say they'll bring in a pro sports team? Everybody, anywhere, thinking about trying to get a pro sports team is going to bring up the Kings.

Since there has been more than one offer to buy the Kings and keep them in Sacramento, including one over-market-value offer, the NBA knows a good owner can make it in the Sacramento market. The only reason the most recent arena deal fell through is becasue the lying Maloofs backed out of a legitimate plan. (Because a financial analyst based in Orange County told them it was a bad deal.)

What suprised me were the quotes in the article that were attributed to Bee articles that I don't remember ever reading. They are inflammatory enough that I'm positive we were have been aware of them at the time.

I loathe the Maloofs.

 

[JB_kings]

Now hiring Jim Gray makes sense. We are going to witness another "The Decision" where George Maloof announces he's taking his team to a beach in the south...

Even Dwight Howard has to shake his head at the way these clown Maloofs make their decisions.

 

[pshn80]

Our friend just left Sacramento for a new life in Virgia Beach. She said nothing about taking the Kings.

If the Kings put a one-liner ad in any paper about recieving offers of an NBA team, they would get dozens of offers. And they don't have to put an ad in the paper, everyone already knows. Not surprising that they would talk to these folks. And you know local planning groups and monied investors, they fill in the blanks with a name like the Kings or Toronto in half an hour and you have a plan with all the details. So............ I wonder if any thing significant is going on?

Keep us posted. If this one is real, we would only have the Kings for the next 3 seasons.

 

[KingsFanSince85]

If there's no new arena in Sacramento (and there's none planned) NBA at some point will not only allow the Kings to move somewhere but absolutely insist on it.

But when the current owners keep going out of their way to sabotage any possibility of an arena being built while the team is still located in town, how can that not be factored in?

This last deal was as close to being done as you can get and the current owners pulled the plug once they realized it. While what you say is 99.9% the case, isn't this an exception given all the circumstances? If they weren't aware before, I think the league is fully aware by now that the reason the City of Sacramento doesn't have a new arena is because of the Maloofs. In lieu of that, and the fact that they have burned some bridges with a few owners, execs and David Stern, it is not out of the realm of possibility that the owners refuse to allow them to leave. This situation is bigger than Sacramento. It sets a precedent for all markets going forward. Unlike Seattle, the City of Sacramento had a done deal on the table with the NBA (acting on the owners behalf) to get this done. The owners change their mind (as it was obvious they were acting in bad faith) and are allowed to leave??? That would set a very bad precedent for the NBA.

 

[Jose]

Why couldn't Comcast offer the same kind of deal here and guarantee a 25 year lease? I find it hard to believe that Virginia Beach could come up with something better than Sacramento. Plus we have AEG on board, NBA money, etc... Something smells funny....

 

[PurpleHaze]

Another oddity about Maloofs possibly heading to Virgina Beach is that community, besides dominated by lots of retirees and military families, is huge center of Christian Right with Pat Robertson's empire of Christian Coalition and his 700 Club - among host of other like-minded famous evangelists around those parts. I had globe trotting biz associate few years ago from Virginia Beach and he said it was extremely conservative and boring by his standards compared to California and plenty of other places - and about as far from Vegas nightlife as you could possibly get.

 

[HereWeBoogie]

Even more, the one thing that makes the least possible amount of sense is that if this is true, it will take a minimum of three years to get the stadium built. That's three years of the Sacramento Kings being lame ducks in the worst arena in the NBA. Raise your hand if you think the Maloofs can survive that. Throw on the NBA relocation fee. Throw on the balance of the '97 loan, which would have to be paid in full.

In a way, I'm this close to hoping the Maloofs really are behind this, because such a harebrained move could finally lead to the NBA dropping the ban hammer on them.

you are totally correct sir. this doesnt ad up

 

[mr. moustache]

The Kings aren't moving to Virginia Beach. In the boy's deluded minds, this may be a negotiating ploy for some other end, but there's no way they're moving to Virginia Beach. That's too ridiculous for even these fools.

 

[VF21]

I absolutely refuse to buy into this nonsense. Any city in the US that wants a professional team is, as Kennadog mentioned, going to bring the Kings into the situation at some point. It would be silly not to.

IMHO? Nothing here but speculation.

 

[bajaden]

None of this makes any sense to me. Do I trust the Maloof's? No! Unfortunately, they're like the boy that cried wolf too many times. Regardless of what they say, negative or positive, no one believes them anymore. So Joe Maloof could be telling the truth when he says they've had no conversations with Virginia beach. If you look at the situation logicaly, it would seem that Joe is telling the truth. Why, when you know your going to be stuck in sacramento for at least 3 more years before they can get an arena built, would you let anything about this deal become public just a couple of months before the coming season.

Now maybe, just maybe, you had no plans on going public with it just yet, and someone on the other end leaked the story. So now your doing damage control. Still doesn't make any sense to me. What happened to the idea that the Maloofs wanted to move the team to Las Vegas, because it was closer to home. But then they settled for the next best thing, Anaheim. That seemed to be their plan. So now, as plan C, they're going to move the team about as far away from home as you can get? And to an even smaller market than sacramento.

No matter where or when they want to move, they still need permission from the league. So let me see. The league is going to allow the Kings, or any other team, to move to Virginia Beach before Seattle, or Kansas City? I don't think so! The league won't allow them to move to a huge market in SoCal, but they'll approve a move to a small market in Virginia Beach, while at the same time screwing up the configuration of the eastern conference. Yeah! Sure they will.

We're all gun shy and having a kneejerk reaction is the norm. Do I think the Maloof's would like to move the team? Damm right, at least I'm dead sure George does. I can't say for sure about Gavin, who I'm convinced loves basketball. However, I'm still of the belief that the Maloofs don't have many friends amongst the owners right now. I'm not as sure as some of you that they'll eventually be allowed to leave. And I don't think the league is afraid of a lawsuit by the Maloofs. The league has the resources to take it all the way to the surpreme court if necessary. Just where do the Maloofs get the money for that kind of legal fight. How do the Maloofs pay off the city loan. And what keeps the league from calling in the debt the Maloofs have with the league, which is rumored to be close to 100 million. What keeps the league from cutting off the redistribution funds that the Maloofs have been getting.

Sorry, I just don't see it happening. I could be wrong, and maybe I'm suffering from wishful thinking to some extent, but to my mind, its just isn't logical. If the Maloofs file for relocation, and the league says no, then I only see three choices for the Maloofs. Sue the league, and possibly end up in worse financial shape than they are now. Stay in Power Balance, or whatever the hell its called now, and suffer. Or sell the team, take their losses and go lick their wounds.

 

[Larry David]

I absolutely refuse to buy into this nonsense. Any city in the US that wants a professional team is, as Kennadog mentioned, going to bring the Kings into the situation at some point. It would be silly not to.

IMHO? Nothing here but speculation.

You can say it's premature, but it's not "nothing."

ESPN's report confirms that "Comcast, Live Nation and Global Spectrum (a Comcast-owned stadium operator) have come to the city," he told the Business Journal. "They would guarantee us a professional sports team (if a deal goes through)."

They are meeting with the city next week. And these are the same three groups the Maloofs are reportedly working with.

Perhaps the talks are only a start and not the end. Maybe, Comcast has another team in the fold.

But it looks like a real deal and 4 of the 5 players confirm meetings with the city next week. So parts of the story check out and the Maloofs response is a non-denial denial

 

[Schmoe]

I agree this is semantics. The talks are real, they just haven't happened (yet) directly between the Kings and Virginia Beach city government officials.

 

[arwen undomiel]

I'm not really sure I care anymore. I'm just about done with this drama.

 

[bajaden]

You can say it's premature, but it's not "nothing."

ESPN's report confirms that "Comcast, Live Nation and Global Spectrum (a Comcast-owned stadium operator) have come to the city," he told the Business Journal. "They would guarantee us a professional sports team (if a deal goes through)."

They are meeting with the city next week. And these are the same three groups the Maloofs are reportedly working with.

Perhaps the talks are only a start and not the end. Maybe, Comcast has another team in the fold.

But it looks like a real deal and 4 of the 5 players confirm meetings with the city next week. So parts of the story check out and the Maloofs response is a non-denial denial

A tweet from a city official admits the talks with Comcast, and that Comcast guaranteed them a team if an arena could be built. He also admitted that Comcast did not name any team in the talks. So mentioning the Kings appears to be nothing but speculation. Now, it could also be damage control on the part of all parties involved. My problem is that it just doesn't make sense to me, which is why I tend to think that the Kings haven't had any talks with Virginia Beach. Having said that, its highly possible that they have had talks with Comcast in some capacity, but not necessarily about Virginia Beach. They are sort of joined at the hip due to TV contracts. However, they're not the only team that has a relationship with Comcast.

 

[kupman]

I absolutely refuse to buy into this nonsense. Any city in the US that wants a professional team is, as Kennadog mentioned, going to bring the Kings into the situation at some point. It would be silly not to.

IMHO? Nothing here but speculation.

not even speculation - just wishful thinking.

 

[HereWeBoogie]

IMHO? Nothing here but speculation.

i really hope its speculation. but it just seems like the report has more info than the normal random speculation. like how they say the maloofs and comcast are meeting in virginia next week

 

[kingjatt]

relax guys Grant says the team isnt going to virginia beach and screamed for no reason at the report.

 

[Mr. S£im Citrus]

Napear? Screaming for no reason? That is so completely out of character, I have no words for it.

 

[Larry David]

relax guys Grant says the team isnt going to virginia beach and screamed for no reason at the report.

Peaches is misleading Kings fans about the strong chance the Kings might leave to help his ratings on Radio and TV.

Peaches ripped News10 here about misleading the city about this story to get ratings.

Now that's rich

 

[HereWeBoogie]

haha damnit i missed grant freaking out

 

[pshn80]

I think this is the way all involved back there announce to the world that their crusade has started. The Kings are kown by all to be the easiest target. Let's wait and see what happens next. That will be more telling.

 

[Section 101]

If there's no new arena in Sacramento (and there's none planned) NBA at some point will not only allow the Kings to move somewhere but absolutely insist on it.

Classic catch 22. The city can't build a new arena without the Maloofs blessing. As long as the city can say we have an Arena plan (parking funds) ready to go that's equal to or better than another city's plan then the league won't approve a move. Factor in the relocation fee's of $75 mil + depending on the location then the city's plan still wins.

 

[funkykingston]

Classic catch 22. The city can't build a new arena without the Maloofs blessing. As long as the city can say we have an Arena plan (parking funds) ready to go that's equal to or better than another city's plan then the league won't approve a move. Factor in the relocation fee's of $75 mil + depending on the location then the city's plan still wins.

It would be nice if it actually worked that way. The fact is that all the Maloofs have to do is petition to move and get a majority vote. I have a hard time seeing 16 or more owners sticking up for Sacramento rather than siding with one of their own. Anaheim would have cost Sterling and especially Buss a ton of money and Stern never wanted three teams in Southern California. But moving somewhere else where it won't affect the other owner's bottom line? I have a lot less faith than some here that anyone is really going to fight the Maloofs on this.

If there is no meeting in Virginia Beach next week then perhaps there isn't anything to this story. But if the Maloofs continue to own the team I have no doubt that at some point they WILL move them. And I don't think the league will really even try to stop them. Without new ownership this situation will get resolved in a way that is very unfair to Kings fans.

 

[JB_kings]

Perhaps this is the Maloofs way of forcing the NBA to vote on relocation to a non-viable location. Once they get rejected, then the lawsuits will start. I don't think the Maloofs have any interest in VB. It's just a way to force their issue by using a city that isn't even on the radar. Think about Al Davis and how he played off Irwindale and Sacramento.

 

[CruzDude]

It's obvious TDDOS has gone on too long. Nothing like a juicy conspiracy theory, and Virginia Beach, to launch a Kings rocket to Mars, their obvious next destination. Makes just as much sense. What could be worse is that the game of playing one city off against another to raise the stakes to betterment of Maloofs. But if they have no intention of selling just relocating and becoming tenants then that one-against-one game makes business sense. Let's see what city pops to the top of the NBA stew we call our Kings.

 

[Bricklayer]

It would be nice if it actually worked that way. The fact is that all the Maloofs have to do is petition to move and get a majority vote. I have a hard time seeing 16 or more owners sticking up for Sacramento rather than siding with one of their own. Anaheim would have cost Sterling and especially Buss a ton of money and Stern never wanted three teams in Southern California. But moving somewhere else where it won't affect the other owner's bottom line? I have a lot less faith than some here that anyone is really going to fight the Maloofs on this.

If there is no meeting in Virginia Beach next week then perhaps there isn't anything to this story. But if the Maloofs continue to own the team I have no doubt that at some point they WILL move them. And I don't think the league will really even try to stop them. Without new ownership this situation will get resolved in a way that is very unfair to Kings fans.

I don't get that really. Last time they wanted out the owners CRUSHED them, and many of the chief owners weren't happy about it at all. Why the opwners would all of a sudden be all perky and eager to back the Maloofs, who they largely seem to disdain, is beyond me. One of the major problems thorugout is that the Maloofs are indirectly HURTING all the other small market owners by damaging their own drives to get arenas built. Why would another city, and politicians in those cities, bend over to get an arena done if the NBA is going to let the team move anyway? Nobody wants them out of here at this point but the Maloofs.

 

[Trueblood]

I know it's not the popular take but I still see Seattle as a possibility and this could just be leveraging by the Maloofs.

The thinking is that if the Maloofs want to sell, they'll just sell to someone trying to keep the team in Sacramento. But what happens if the top bid for Sacramento is coming in at $350 million and Seattle offers $450 million? Can the league force them to take the lower bid?

I hate to speculate negatively but I've been following the Seattle thing and they all swear up and down that Hansen has a team in the fold if the arena happens. Then you throw in the meeting that George had with Wally Walker 2 years ago and things start to make sense. George saying that he met with Wally just so he could get an idea of how arena deals can go bad is a joke. If he wanted to do that, he could just talk on the phone or email. The fact that HE, someone who could care less about the Kings and wants to help the families bottom line at all costs, was talking to Walker has to make you raise eyebrows.

The question then becomes how and why does VB become an option and where does it fit with Seattle? My best guess is that Hansen and the Maloofs already have a number agreed to but the Seattle city council is making Hansen make some amendments to his deal before they can ok it and have it go to a favorable vote next month. Knowing this, it's possible Hansen is going back to the Maloofs and asking for a slight discount that would still be far and above what Burkle or anyone else is offering but less than what he offered before since he has to put more of his own money into the arena.

Now Georgie is getting scared that the Seattle arena won't happen or that his magic sale price number is going down if the arena does happen and he needs leverage....

 

[JoMama]

From a business standpoint, this is the absolute worst time for this story to break. The Maloofs are trying to put butts in the seat with ticket packages. Of course, the Maloofs are not known for their biz savvy.

 

[Section 101]

I know it's not the popular take but I still see Seattle as a possibility and this could just be leveraging by the Maloofs.

The thinking is that if the Maloofs want to sell, they'll just sell to someone trying to keep the team in Sacramento. But what happens if the top bid for Sacramento is coming in at $350 million and Seattle offers $450 million? Can the league force them to take the lower bid?

I hate to speculate negatively but I've been following the Seattle thing and they all swear up and down that Hansen has a team in the fold if the arena happens. Then you throw in the meeting that George had with Wally Walker 2 years ago and things start to make sense. George saying that he met with Wally just so he could get an idea of how arena deals can go bad is a joke. If he wanted to do that, he could just talk on the phone or email. The fact that HE, someone who could care less about the Kings and wants to help the families bottom line at all costs, was talking to Walker has to make you raise eyebrows.

The question then becomes how and why does VB become an option and where does it fit with Seattle? My best guess is that Hansen and the Maloofs already have a number agreed to but the Seattle city council is making Hansen make some amendments to his deal before they can ok it and have it go to a favorable vote next month. Knowing this, it's possible Hansen is going back to the Maloofs and asking for a slight discount that would still be far and above what Burkle or anyone else is offering but less than what he offered before since he has to put more of his own money into the arena.

Now Georgie is getting scared that the Seattle arena won't happen or that his magic sale price number is going down if the arena does happen and he needs leverage....

The Maloofs want to maximize the value of the team before they sell. Any relocation has a fee that will increase their debt even more. The fact they turned down taking the city's deal for $75 mil means they can't afford to take on a relocation fee at this point. They are hoping there is a turn around in the economy over the next few years before they can afford it.

 

[VF21]

You can say it's premature, but it's not "nothing."

ESPN's report confirms that "Comcast, Live Nation and Global Spectrum (a Comcast-owned stadium operator) have come to the city," he told the Business Journal. "They would guarantee us a professional sports team (if a deal goes through)."

They are meeting with the city next week. And these are the same three groups the Maloofs are reportedly working with.

Perhaps the talks are only a start and not the end. Maybe, Comcast has another team in the fold.

But it looks like a real deal and 4 of the 5 players confirm meetings with the city next week. So parts of the story check out and the Maloofs response is a non-denial denial

Whatever.

You're mixing fact with fiction. The ESPN report does NOT tie the Maloofs or the Kings into the equation. That's the speculation part. Playing "what if" and "maybe" is the way to insanity.