Waiting for whales and latest news, rumors, etc.

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Shocker. A complete shocker. This is where the minority owner's rights come into play.

We've been surveying the starboard side of the boat for a pair of whales only to have a blue whale breach on the portside.
 
I have a hard time believing Jim Crandell because of other "scoops" he has had before that turned out to be incorrect. If this is true I'd like to be jumping up and down and yelling yahoo but doesn't it just confuse everything? Where has this guy been the last month or so?
 
Glenn said:
I have a hard time believing Jim Crandell because of other "scoops" he has had before that turned out to be incorrect. If this is true I'd like to be jumping up and down and yelling yahoo but doesn't it just confuse everything? Where has this guy been the last month or so?
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Kehriotis doesn't have that much money but what he could do if ROFR is indeed real is buy the team with the money he does have and then promptly sell it back to Burkle and Mastrov
 
Carmichael Dave ‏@CarmichaelDave
Obviously there is motivation from many parties to bid on the Kings. This is all good. This is expected.


Carmichael Dave ‏@CarmichaelDave
I also hope that all parties realize unification is the best plan, anything jeopardizing this team staying will be met with swift rebuke.


Carmichael Dave ‏@CarmichaelDave
Yes. IF ROFR is valid, IF 350 is solid, IF 400 verbal is solid, we have a game. Remember though- NBA still has to APPROVE any deal. Key.


Carmichael Dave ‏@CarmichaelDave
Whatever may come, and I'm not ripping the Kehriotis report or him AT ALL, I can tell you that as of this minute this has nothing to do w/KJ
 
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Glenn said:
I have a hard time believing Jim Crandell because of other "scoops" he has had before that turned out to be incorrect. If this is true I'd like to be jumping up and down and yelling yahoo but doesn't it just confuse everything? Where has this guy been the last month or so?
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Go with your gut on this. This plan is not backed by the mayor. As far as I know, their arena plan is to renovate Sleep Train and maybe build a new one in Natomas down the road.
 
The Hammer said:
Biology nerd alert.

A killer whale is actually the largest member of the dolphin family. It's not a whale. That said, I think we have a predatory creature lurking that is about to do nature's version of "reduce, re-use, and recycle". :p
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Actually, I knew that. They are actually called Orcas and it was discovered recently that they actually prey on great white sharks. Now that's the kind of warriors we need. :p
 
Hard to judge if the Kehriotis plan is actually a good thing or not.

1) No specific site picked is not good news, that puts such a plan immediately farther behind than the Seattle arena deal.

2) It takes all control away from the city. In other words, with all private money in the deal, they aren't tied to keeping the Kings here at all.

3) Without knowing who the other investors are, I'm wondering is they have long term deep pockets like Burkle and Mastrov. I don't want another relatively poor ownership group.

4) Burkle has his fingers in multiple industries such as his connections with ICON, AEG. As part owner of the Penguins, he certainly has some understanding about what it means to run a pro-sports team.

5) The city really needs to present one solid unified proposal at this point. We are in overtime with little time on the clock. We can't afford tpo miss the last shot.

6) This will only strengthen McCarty and Fong, who will want to "explore" this deal requiring no public subsidy. They'll think this sounds great. It will give fodder to those who say it should all be privately funded. Even if its a deal that can't really work, people will lambast the council for voting for a public subsidy and could create a political nightmare that delays things enough to to screw Sacramento.

7) We've had Burkle offer twice. If Kehriotis screws this up, I don't think Burkle will ride to our rescue again.

This late in time, I just can't see this as a positive in any way.

Although there are many benefits to the Downtown Plaza site, a major problem is the plan goes from a city-owned arena to a privately-owned arena. That would make a large city-subsidy less palatable to many. It just changes the whole economics of the deal. If that's what Burkle wants, then they have a lot to work out in a short time frame. Altho "official" negotiations can't start until Wednesday, I'm pretty sure both sides have some idea of the terms they want to pin down at this point.
 
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kennadog said:
Hard to judge if the Kehriotis plan is actually a good thing or not.

1) No specific site picked is not good news, that puts such a plan immediately farther behind than the Seattle arena deal.

2) It takes all control away from the city. In other words, with all private money in the deal, they aren't tied to keeping the Kings here at all.

3) Without knowing who the other investors are, I'm wondering is they have long term deep pockets like Burkle and Mastrov. I don't want another relatively poor ownership group.

4) Burkle has his fingers in multiple industries such as his connections with ICON, AEG. As part owner of the Penguins, he certainly has some understanding about what it means to run a pro-sports team.

5) The city really needs to present one solid unified proposal at this point. We are in overtime with little time on the clock. We can't afford tpo miss the last shot.

6) This will only strengthen McCarty and Fong, who will want to "explore" this deal requiring no public subsidy. They'll think this sounds great. It will give fodder to those who say it should all be privately funded. Even if its a deal that can't really work, people will lambast the council for voting for a public subsidy and could create a political nightmare that delays things enough to to screw Sacramento.

7) We've had Burkle offer twice. If Kehriotis screws this up, I don't think Burkle will ride to our rescue again.

This late in time, I just can't see this as a positive in any way.

Although there are many benefits to the Downtown Plaza site, a major problem is the plan goes from a city-owned arena to a privately-owned arena. That would make a large city-subsidy less palatable to many. It just changes the whole economics of the deal. If that's what Burkle wants, then they have a lot to work out in a short time frame. Altho "official" negotiations can't start until Wednesday, I'm pretty sure both sides have some idea of the terms they want to pin down at this point.
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I agree. This just doesn't sound good. My gut (and a little internet research) tells me that this investor isn't anywhere near the financial strength of Burkle/Mastov and it just complicates matters. If the NBA is faced with the complication of two Sacramento ownership groups, they may want to just not deal with it and go with the one in Seattle. If Kehriotis really wants to keep the Kings in Sacto, he should bow out gracefully. On the plus side, Kehriotis seems to be considerably behind the curve on this. It seems highly unlikely he can go to the BOG and make a presentation with the specificity required to appear to be someone serious. Maybe his talk of $750 million is just to leverage somehow his right of first refusal into a financial windfall.
 
Glad to see people see this for what it is. Just support the mayor and his team's efforts. The FROR guys don't need the city and you can pretty much ignore them. There's a reason why they didn't have a press conference and ended up as another Jim Crandell red herring.
 
JB_kings said:
Glad to see people see this for what it is. Just support the mayor and his team's efforts. The FROR guys don't need the city and you can pretty much ignore them. There's a reason why they didn't have a press conference and ended up as another Jim Crandell red herring.
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This can be both an annoyance and distraction on the Sacramento end while at the same time a nuclear option if the Seattle sale gets approved. It puts uncertainty on both Sacramento and Seattle. It could be seen as announcing that there is a trump card to be played if so desired.
 
Seems this announcement from the minority owner got Seattle's advocate attention:

Chris Daniels ‏@ChrisDaniels5

FWIW...A search of the Forbes Magazine archive shows no mention of Kehriotis in any past article. #NBAKings

Chris Daniels ‏@ChrisDaniels5

However @forbes lists Steve Ballmer 914 times. Nordstrom 763 times. Ballmer #46th Most Powerful, #44th on Billionaire List. #NBAKings

Chris Daniels ‏@ChrisDaniels5

.@forbes also shows Ron Burkle 131 times, #128th on Forbes 400 and #358 on Billionaires List. #NBAKings

Chris Daniels ‏@ChrisDaniels5

Just reportin' #'s folks. Let's see how this plays out. KJ expected by many to make big announcement on Thursday. #NBAKings


More confusion on all sides ....................... or is it?

Carmichael Dave ‏@CarmichaelDave

“@boymeetsworld91: @CarmichaelDave could the NBA all ready know who the whales are?” Of course they do

Carmichael Dave ‏@CarmichaelDave

“@Tahitilover: @CarmichaelDave Could Larry Ellison be with Keriotos?” No

How would CD know that unless having some idea of Kehriotis' intentions and plans?
 
Think about this. If they execute the FROR and Ellison is partners with Kehriotis. Their admitted plan is to match and then build an arena not in downtown. There is no involvement with the city of Sacramento and these guys are not going to sign any lease with the city. So you have Larry Ellison using Kehriotis to purchase a team that has no lease or any ties to Sacramento nor intentions of entering into such a situation. See where this is going?

And if you think Ellison would not try and move the Kings out of town after purchasing the team? Well then you better study up on the guy he damn well gets his way when he puts his money up. And his history shows that he tries to buy teams to move them.

This is all a distraction. Keep supporting KJ and I think we have a good chance of this working.
 
I need more clarity and apologize for not following this on a daily basis.

I am assuming the Right of First Refusal is close to an established fact although none of us has read the partnership agreement. It sounds reasonable.

Kehriotis would then be able to block the sale to Seattle and anyone else and the BOG has nothing to say about that.

How did Ellison get linked to Kehriotis? That came out of left field.

How is it known that the arena would be built with no public money? That makes me scratch my head and the idea that eliminating the city from the deal means the team could leave doesn't sound logical. If a private party builds an arena, they sure as heck don't want the Kings to leave the area. The two investments are linked as an anchor tenant could make the arena a good deal.

That's it. The rest I can piece together.

My wish would be that Kehriotis was linked with Burkle/Mastrov and it makes me wonder why he would partner up with Ellison if that is the source of his cash. It doesn't seem to me that the BOG can do much of anything until this all gets sorted out and I doubt if it could be sorted out by April 18 but that's a guess. Certainly it will go to court although I thought that's what well written partnership agreements are meant to avoid.

It all seemed more secure a few months ago as I thought a Burkle led purchase would win over the BOG but if Kehriotis has a legitimate claim and he keeps them in Sacramento AND has enough money to operate everything, it doesn't sound that bad.
 
Ah, I just read the note that CD says Ellison is not linked to Kehriotis. That makes the deal less bothersome and it makes far more sense.
 
Glenn,

I'm not sure there is much clarity with the Kehriotis offer to be had. CD claimed Ellision was not involved in this. Not sure how he would know that. I am on the assumption he is plugged into sources but this seemed to come from left field, so would he have info on that?

As far as the right of first refusal being close to an established fact still has to be determined. The trustee didn't comment on it and apparently wasn't addressed in court today.

These are some muddy waters.
 
Glenn said:
Ah, I just read the note that CD says Ellison is not linked to Kehriotis. That makes the deal less bothersome and it makes far more sense.
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Still should worry us. Without any kind of deal with the city on a new arena, they are free to move the team. They could try and build their new arena and have their financing drop out - oopsie. Nothing to stop them from moving the team. And Kehriotis is not a Sacramento guy. He's described as an investor.

If these guys are legit, then get their promises in writing with details. Get back with me when they commit to keeping the team here and building a new arena in writing.
 
Tyler the Source: (KHTK 1140am)

NBA owners meeting in New York today: NBA Source says Kings will stay in Sacramento and Seattle will have an expansion team.
 
butteredbiscuit said:
Tyler the Source: (KHTK 1140am)

NBA owners meeting in New York today: NBA Source says Kings will stay in Sacramento and Seattle will have an expansion team.
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That of course is what we have all wanted. I'm a bit skeptical as it's not clear what the source is, and this was all supposed to be decided on April 19, not now. I suppose we shall see.
 
JB_kings said:
Still should worry us. Without any kind of deal with the city on a new arena, they are free to move the team. They could try and build their new arena and have their financing drop out - oopsie. Nothing to stop them from moving the team. And Kehriotis is not a Sacramento guy. He's described as an investor.

If these guys are legit, then get their promises in writing with details. Get back with me when they commit to keeping the team here and building a new arena in writing.
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Unless you don't count a 3 million dollar home in granite bay not sacramento for Kehriotis and a large home in Auburn for Ellison.

Kehriotis also built the embassy suites downtown.
 
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