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Old 03-26-2013, 04:15 AM
 
290 posts, read 541,746 times
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"Qualcomm CEO Paul Jacobs has joined a bid to keep the NBA's Kings in Scramento"
Qualcomm CEO joins Sacramento bid to keep Kings | NBA.com


This is huge. It will surely change the momentum in our favor. I was shocked when I heard the news. It ain't over yet folks. Chances are we are keeping the King's and we'll finally have a state of the art arena.
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Old 03-26-2013, 10:22 AM
 
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In order to get an arena, Sacramentans will have to give up what is dearest to them of all...free parking. The arena finance plan is based on parking revenue, and we're giving away about a third of the city-owned parking facilities (under the mall) to the developers. They're expecting the remaining two-thirds of the parking supply to deliver double the profits (about 8000 parking spots.)

Half of those parking spots are on-street curb parking that is currently free after 6 PM and on Sundays. In order to make money from those spaces, they will have to charge for parking as late as arena events go--midnight or even later, and charge on Sundays too. Otherwise you'll just have a mob of people taking up every open parking space on the street and nobody using the city lots--and private parking operators undercutting the city lots. Theoretically, the new investors would be able to use their free city land as parking lots too, and the arena deal specifies that this transaction won't include new taxes on private parking lots downtown.
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Old 03-26-2013, 10:41 AM
 
1,321 posts, read 2,638,937 times
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Quote:
Originally Posted by webdev View Post
"Qualcomm CEO Paul Jacobs has joined a bid to keep the NBA's Kings in Scramento"
Qualcomm CEO joins Sacramento bid to keep Kings | NBA.com


This is huge. It will surely change the momentum in our favor. I was shocked when I heard the news. It ain't over yet folks. Chances are we are keeping the King's and we'll finally have a state of the art arena.
In what way do you think this is a game changer? I'm not being snarky--just curious. I'm glad to see additional investors, because the more rich folks with a stake in seeing downtown Sac succeed, the better. (Not just hotels and restaurants--I want these techies to think of Sac as their next place for a start-up venture.) But is there anything in particular about the Jacobs family that you find appealing?
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Old 03-26-2013, 07:03 PM
 
Location: SW MO
23,593 posts, read 37,323,682 times
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Quote:
Originally Posted by webdev View Post
"Qualcomm CEO Paul Jacobs has joined a bid to keep the NBA's Kings in Scramento"
Qualcomm CEO joins Sacramento bid to keep Kings | NBA.com


This is huge. It will surely change the momentum in our favor. I was shocked when I heard the news. It ain't over yet folks. Chances are we are keeping the King's and we'll finally have a state of the art arena.


Now you just need a state of the art team to go with it! A state of the art mayor with his head somewhere beyond his jock strap would help too.
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Old 03-26-2013, 07:21 PM
 
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It's only a "game changer" if the bid changes. And this bid is all contingent on whether the NBA board rejects a sale that has already been accepted by buyer and seller.
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Old 03-26-2013, 09:40 PM
 
290 posts, read 541,746 times
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Quote:
Originally Posted by ryuns View Post
In what way do you think this is a game changer? I'm not being snarky--just curious. I'm glad to see additional investors, because the more rich folks with a stake in seeing downtown Sac succeed, the better. (Not just hotels and restaurants--I want these techies to think of Sac as their next place for a start-up venture.) But is there anything in particular about the Jacobs family that you find appealing?
This is the CEO of Qualcomm jumping into the picture. This is no small time investor. Heck he could have fronted all the money if he wanted to without flinching. Why ponder over the whole rich folk thing? How the heck do you expect anything to get done if no one wants to pay any taxes for it (which is understandable) and match offers from guys like Steve Ballmer?

We also have Vivek Ranadive who is no slouch. Add these guys along with Burkle and Mastrov and I'm positive we can match any deal from Seattle. I'm excited because (Kevin Johnson) is amassing super high caliber players to support our arena deal. I'm done with years of the small time yokels trying to get things done in Sacramento. I'm willing to risk having these type of players build up the city. So it can be a "real" city.

My only issue is with putting the arena directly downtown. I would have preferred they develop up the railyard so they can really start from scratch and build a nice venue with good parking and access. They also said they are committed to the old arena area in natomas and plan to build that up as a large healthcare/tech facility to create jobs. For the first time in "years" Sacramento might actually get something done. Go Kevin Johnson..
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Old 03-26-2013, 09:52 PM
 
290 posts, read 541,746 times
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Quote:
Originally Posted by wburg View Post
It's only a "game changer" if the bid changes. And this bid is all contingent on whether the NBA board rejects a sale that has already been accepted by buyer and seller.
This is true, but it definitely shifts the momentum our way.
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Old 03-26-2013, 10:51 PM
 
Location: Sacramento
14,044 posts, read 27,117,608 times
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Quote:
Originally Posted by wburg View Post
It's only a "game changer" if the bid changes. And this bid is all contingent on whether the NBA board rejects a sale that has already been accepted by buyer and seller.
I tend to think the Kings are more likely to stay than move to Seattle. From the limited information I've seen, adding Jacobs and Ranadive to the team also added money to the bid, hopefully now making it fully competitive.

There are a few things in play that favor keeping the Kings here, assuming the bid is financially competitive:


- The Maloof's double crossed Stern and the NBA BOG when the turned their back on the previous agreed to arena deal

- The Maloof's never kept their word about working with investors to upgrade Sleep Train Arena

- The city has come forward with an arena plan not requiring a public vote concerning a tax increase

- Seattle also lacks a sufficient NBA arena at this time

- Sacramento has better supported the Kings than Seattle supported the Sonics when both teams were in normal operations (meaning not newly relocated in temporary facilities or discussing moves from the area)

- Sacramento has the longest sell out streak in pro basketball history

- The Kings are currently in Sacramento, and have been since 1985 (nearly 30 years)

- The Kings only suffer from indifferent ownership, not lack of a sufficient fan base


Ethically (and perhaps legally) speaking, the Maloofs had an obligation to also offer the team to local Sacramento buyers. Instead, they were underhanded in doing secret negotiations and not allowing local bidders to compete.

So, factoring in all of these items, and assuming the bid is financially competitive, I believe that Sacramento will likely get to retain the Kings (and get rid of the Maloof's...a bonus).
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Old 03-26-2013, 11:29 PM
 
8,680 posts, read 17,197,096 times
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Why do the Maloofs have an obligation to also offer the team to local Sacramento buyers?
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Old 03-26-2013, 11:47 PM
 
Location: Sacramento
14,044 posts, read 27,117,608 times
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Quote:
Originally Posted by wburg View Post
Why do the Maloofs have an obligation to also offer the team to local Sacramento buyers?
Kind of obvious, isn't it?

If the financials are the same...
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