What would you do?
- Thread starter Big Cuz 15
- Start date
I would hope they can figure out a way to get the arena built anyway, in the railyards. Nothing short of another pro franchise would be a suitable substitue, but a new arena with some nice concert acts would take some of the sting away. Just admit that we're not in the big leagues anymore and learn to be happy with a minor league hockey team, occasional NCAA tourneys, and maybe Sac State's hoops team could finally draw some interest. Okay, that last one might be kind of ridiculous. It would be easier to get an NHL team than to turn Sac State in to a big time program.
What do we do? I don't know the answer for you. For me, as a Kings fan, I swallow hard and try to figure out who should start at Point Guard, etc. and continue to pay for my season tickets next year. I am not letting the Maloofs stand in the way of enjoying the Kings. I am trying not to let frustration and all that goes with it creep in and ruin my enjoyment of Kings NBA basketball. I'm doing pretty well and looking forward to the draft lottery, the draft, and any finishing touches to the roster, and the beginning of the new season. I wish things would be different but they are not the "different" we each would want. Go Kings.
If I'm the city, I sue. You do realize that the citizens get stuck paying back the bondholders, if the Maloofs default, don't you? Of course, the city would cash in all of the collateral (land, arena and a small percentage interest in the team.) The problem is, it might not be enough for the city to be able to pay off the bondholders, who provided the money for the loan. Then the city would have to pay the loan back from the general fund. Disastrous. It would lower the city's bond rating and make it harder to sell bonds for civic improvements. It would reflect badly on the league, too.
That would just really tick me off. I would hope the league would try and prevent that from happening.
That would just really tick me off. I would hope the league would try and prevent that from happening.
This probably the most compelling piece of evidence that shows this would NEVER happen.
The NBA's image would be permanently, and seriously damaged if a city's general fund was on the hook because one of it's owner's defaulted on a loan to a team. That is serious, permanent, horrible PR, and it would absolutely never happen. The team would be contracted and the NBA would cover the difference, worst case scenario, in my opinion, before that would happen. But it would NEVER come to that because the other owners would never let a move happen.
The NBA knows what's at stake here, the know the possibilities, and I'm SURE they know their options. There is ZERO chance that the team is allowed to move.
The NBA's image would be permanently, and seriously damaged if a city's general fund was on the hook because one of it's owner's defaulted on a loan to a team. That is serious, permanent, horrible PR, and it would absolutely never happen. The team would be contracted and the NBA would cover the difference, worst case scenario, in my opinion, before that would happen. But it would NEVER come to that because the other owners would never let a move happen.
The NBA knows what's at stake here, the know the possibilities, and I'm SURE they know their options. There is ZERO chance that the team is allowed to move.
My guess would be if the Maloofs ignored the NBA and moved the team and then defaulted on the loan, that the NBA would come in and pay the difference if the collateral wasn't enough to pay the bondholders. Of course the NBA would also be in litigation with the Maloofs for moving the team with-out permission to do so, because at this point, I just don't think it is likely that the NBA allows the Maloofs to move the team.
I have ambivalent feelings about this.
A big part of me feels sorry for the fans of this board, especially those who live in Sacramento and who truly have made the Kings a part of their daily lives. Plus, not paying that loan is just bad for the taxpayers of the community which is not fair.
OTOH, a small part of me wants to feel happy, especially that I won't get affected anyways since I don't live in Sacramento. Besides, I was convinced by a lot of fans of this board who believe that superstars don't want to come to Sacramento. The Kings moving somewhere, especially if it is Anaheim can mean the Kings will finally be able to acquire superstar talents from free agency. That could mean my team will finally have a chance on that CHAMPIONSHIP.
Finally, I wish the Maloofs will soon win the next big jackpot of Mega Lotto to end theirs and the communities' predicament. I truly believe the Maloofs family is not that bad or monsters as most fans want to portray them now. They have been good to the community before. There is this part of me that tells me the Maloofs family's back is just pressed hard against the wall. The family is bankcrupt. They want to move the team where they think they will gain more in the hope of surviving.
Imagine your family as having this gargantuan money troubles as the Maloofs.
What would you do?
A big part of me feels sorry for the fans of this board, especially those who live in Sacramento and who truly have made the Kings a part of their daily lives. Plus, not paying that loan is just bad for the taxpayers of the community which is not fair.
OTOH, a small part of me wants to feel happy, especially that I won't get affected anyways since I don't live in Sacramento. Besides, I was convinced by a lot of fans of this board who believe that superstars don't want to come to Sacramento. The Kings moving somewhere, especially if it is Anaheim can mean the Kings will finally be able to acquire superstar talents from free agency. That could mean my team will finally have a chance on that CHAMPIONSHIP.
Finally, I wish the Maloofs will soon win the next big jackpot of Mega Lotto to end theirs and the communities' predicament. I truly believe the Maloofs family is not that bad or monsters as most fans want to portray them now. They have been good to the community before. There is this part of me that tells me the Maloofs family's back is just pressed hard against the wall. The family is bankcrupt. They want to move the team where they think they will gain more in the hope of surviving.
Imagine your family as having this gargantuan money troubles as the Maloofs.
What would you do?
What could the NBA do if the Kings move without permission aside from lawsuits? Threaten them as a target for contraction? It doesn't seem like much of anything bad happened to Sterling when he moved the Clippers.
I just read this story about Hansen putting up $300 million for a Seattle arena. It really dwarfs the amount the Maloofs were going to put in for the failed Kings arena.
http://espn.go.com/nba/story/_/id/7938287/arena-plan-moves-ahead-seattle-lures-nba
I just read this story about Hansen putting up $300 million for a Seattle arena. It really dwarfs the amount the Maloofs were going to put in for the failed Kings arena.
http://espn.go.com/nba/story/_/id/7938287/arena-plan-moves-ahead-seattle-lures-nba
I believe they put by-laws in place to prevent a situation (Clippers move with-out approval) from happening again.
So if the Maloofs hired moving vans in the middle of the night to try and move the team to Anahiem with-out the approval of the relocation commitee, they probably would lose the team.
Stern likes markets where the NBA is the only team in town, provided that the market can support the team.
Sacramento has shown that it can support a team (Both in the past with the 2 long sell-outs) and currently (with the effort the City made to make a deal).
So my guess is that the NBA is telling the Maloofs that they won't approve a relocation, so the two choices are try to field a competitive team (or we'll revoke your profit sharing) or sell the team.
The Maloofs will instead probably try to drag this on as long as possible while hoping that some other solution to their financial problems pops up. Unfortunately if we are in a holding pattern for a year or two, it's going to really hurt the product on the floor.
Or they might file anti-trust, but I don't know if they have a shot at winning that against the league.
So if the Maloofs hired moving vans in the middle of the night to try and move the team to Anahiem with-out the approval of the relocation commitee, they probably would lose the team.
Stern likes markets where the NBA is the only team in town, provided that the market can support the team.
Sacramento has shown that it can support a team (Both in the past with the 2 long sell-outs) and currently (with the effort the City made to make a deal).
So my guess is that the NBA is telling the Maloofs that they won't approve a relocation, so the two choices are try to field a competitive team (or we'll revoke your profit sharing) or sell the team.
The Maloofs will instead probably try to drag this on as long as possible while hoping that some other solution to their financial problems pops up. Unfortunately if we are in a holding pattern for a year or two, it's going to really hurt the product on the floor.
Or they might file anti-trust, but I don't know if they have a shot at winning that against the league.
The big question is one of corporate support. But that might be where KJ can work his magic like last time and go to Wolff with a big list of mid-size businesses to offset the lack of major corporations. I think it might be a better plan B than building an arena without the Kings. There is no conflict with the Kings 97 loan. It's a baseball stadium and not an arena. There is a likelyhood of drawing 2-2.5 million a year on baseball dates into the railyard. That is much better than the ESC with no pro team. They have several models from the parking exercise and I think the 250 million is something to bring to the table.
Come with the parking plan revenue and a long list of business partners willing to sponsor, and I think Lew Wolff would listen. Might be a pretty good plan B/C.
Come with the parking plan revenue and a long list of business partners willing to sponsor, and I think Lew Wolff would listen. Might be a pretty good plan B/C.
Well, I read a study once that Sacramento likely could not support two pro teams at this time. So if baseball comes in, then the Kings are probably out.
BTW, While I'd like to think the league would pay the bondholders any unrecoverable debt, if the Maloofs defaulted on the $65 million, I wouldn't hold my breathe. The league might never be able to recover that money from the Maloofs.
As for retraction of the team, I would think the league would have to pay a fair price for the team in order to eliminate it. I can't imagine it's legal to take an asset away from owners without just compensation.
BTW, While I'd like to think the league would pay the bondholders any unrecoverable debt, if the Maloofs defaulted on the $65 million, I wouldn't hold my breathe. The league might never be able to recover that money from the Maloofs.
As for retraction of the team, I would think the league would have to pay a fair price for the team in order to eliminate it. I can't imagine it's legal to take an asset away from owners without just compensation.
Thought I read a biz journal article stating that Sacramento had now reached the point where it could support multiple professional teams, including baseball. I'll post a link if I can track it down.
I worry more about the city being able to get both an arena and a baseball stadium built around the same time. I don't see it as a problem with the ability of the community to support a team once it's here. More of a problem of having to choose between the two because we can't subsidize facilities for both right now.
I love the Kings and basketball, but would rather have one pro sports team than none for my city. If Wolfe wants to come to Sac and the Maloofs want to leave, then I'm going to put more support in the owner that wants me.
I worry more about the city being able to get both an arena and a baseball stadium built around the same time. I don't see it as a problem with the ability of the community to support a team once it's here. More of a problem of having to choose between the two because we can't subsidize facilities for both right now.
I love the Kings and basketball, but would rather have one pro sports team than none for my city. If Wolfe wants to come to Sac and the Maloofs want to leave, then I'm going to put more support in the owner that wants me.
For those interested, I found the post saying Sac could support more than one major sport, but not baseball. The reason baseball was not supported was based on personal income in the region and the fact that the A's and Giants play down the road. If the A's leave, that aspect of it goes away and since the article, the Sacramento region had surpassed minimum personal income required to have a baseball team. So it's a go in my book.
"The Sacramento area could accommodate another professional sports team, with the National Football League or Major League Soccer the most likely to score with fans and investors, according to a biz*journals survey of 82 markets in North America."
http://www.bizjournals.com/sacramento/stories/2009/12/21/story10.html
"Sacramento region residents earned $86.94 billion last year, which put it at No. 25 among the nation’s metropolitan areas."
http://www.bizjournals.com/sacramento/news/2011/08/09/sacramento-25th-personal-income-rank.html
"The Sacramento area could accommodate another professional sports team, with the National Football League or Major League Soccer the most likely to score with fans and investors, according to a biz*journals survey of 82 markets in North America."
http://www.bizjournals.com/sacramento/stories/2009/12/21/story10.html
"Sacramento region residents earned $86.94 billion last year, which put it at No. 25 among the nation’s metropolitan areas."
http://www.bizjournals.com/sacramento/news/2011/08/09/sacramento-25th-personal-income-rank.html
I think Sac would do great with MLS but you gotta build a base with a D2 team first. Too many cities lined up wanting a piece of the action that are doing their best to prove they "deserve" it. MLS is significantly cheaper than any other sport as far as personal income required, which is why it has really taken off in the 18-40 market.
I've always thought Sac is a soccer and baseball town. Sac has already thrown their hat in the ring for a MLS expansion team with the thought of building a stadium in Elk Grove. I think you "deserve" it by being a large enough market and being able to get the stadium built. So getting a potential owner with deep pockets.
Elk Grove would be a horrible mistake and shows absolute tone deafness to current MLS trends. Downtown, soccer specific stadiums are drawing big crowds. That is what MLS wants, they want to show the spectacle of the supporter groups as much as the game itself in the hopes of finally landing that lucrative tv deal. A big tv deal is the difference between the quality of players they have now and competing with the world's major leagues. Just look at the difference between Celtic in the SPL (one of the most popular clubs in Europe) and the EPL.
Sac could do it but it has to be done right. And what's the harm in getting a D2 or D3 team set up and building a base? It has worked with AAA baseball, which to me is enough to convince me Sac deserves a shot at MLB.
Last edited by a moderator:
Maloofs are horrible but don't see them hindering a baseball push. Just has to be an owner to step up. Which is probably a bit trickier than finding a willing buyer for an existing team that with some polish could be damn good.
MLS is still fairly easy entry price, Timbers, Whitecaps and Impact were all 40 million I think. Biggest barrier is that there are no teams in the Southeast and like all the other sports leagues that try and fail to chase after that college football market MLS seems to want to chase too.
MLS is still fairly easy entry price, Timbers, Whitecaps and Impact were all 40 million I think. Biggest barrier is that there are no teams in the Southeast and like all the other sports leagues that try and fail to chase after that college football market MLS seems to want to chase too.
