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Old 01-10-2013, 10:53 AM
 
Location: SW MO
23,601 posts, read 33,008,540 times
Reputation: 29157

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YAWN! More drama surrounding the Maloofs more so than the Kings. Let them all go. Perhaps then KJ will try something new - being a mayor and taking care of the city's decaying infrastructure.
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Old 01-10-2013, 01:44 PM
 
8,373 posts, read 15,212,043 times
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It ain't over until the fat boys sing, and that trio couldn't carry a tune in a bucket.

Last edited by wburg; 01-10-2013 at 01:57 PM..
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Old 01-10-2013, 03:03 PM
 
12 posts, read 45,298 times
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Latest news is that the Maloofs are asking for a continued ownership stake, and they are asking for some control of how the team is run once sold.

NBA spokesman has said this could introduce a problem to the sale.

Seems to me like they want their cake, and to it eat it too, on a golden basketball.
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Old 01-10-2013, 03:24 PM
 
Location: Sacramento
13,860 posts, read 24,598,618 times
Reputation: 6587
Quote:
Originally Posted by tahoeskier View Post
Latest news is that the Maloofs are asking for a continued ownership stake, and they are asking for some control of how the team is run once sold.

NBA spokesman has said this could introduce a problem to the sale.

Seems to me like they want their cake, and to it eat it too, on a golden basketball.
Now that reads like a typical Maloof approach to the sale.
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Old 01-11-2013, 11:35 PM
 
Location: Sacramento
13,860 posts, read 24,598,618 times
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Kevin Johnson planning on making a major proposal to the NBA to keep the Kings here ($425-450 mil), and as a bonus do it without keeping the Maloofs:

"I feel very strongly that we will be able to produce a group that has Sacramento ties that can be competitive or at least comparable. I believe the NBA knows that we're a proven market. ... I want Seattle to get a team. They deserve a team, but I don't want it to be our team."

Sacramento Mayor Kevin Johnson says he'll save Kings


Keep the Kings and get rid of the Maloofs (but, I have to admit I think Gavin is OK), seems like a great idea to me!
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Old 01-12-2013, 08:26 AM
 
Location: SW MO
23,601 posts, read 33,008,540 times
Reputation: 29157
Quote:
Originally Posted by NewToCA View Post
Kevin Johnson planning on making a major proposal to the NBA to keep the Kings here ($425-450 mil), and as a bonus do it without keeping the Maloofs:

"I feel very strongly that we will be able to produce a group that has Sacramento ties that can be competitive or at least comparable. I believe the NBA knows that we're a proven market. ... I want Seattle to get a team. They deserve a team, but I don't want it to be our team."

Sacramento Mayor Kevin Johnson says he'll save Kings


Keep the Kings and get rid of the Maloofs (but, I have to admit I think Gavin is OK), seems like a great idea to me!
Whose $425-450 million? That would buy a lot of infrastructure repair, cops, etc.
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Old 01-12-2013, 10:54 AM
 
Location: Vallejo
15,721 posts, read 17,698,913 times
Reputation: 14081
Quote:
Originally Posted by Curmudgeon View Post
Whose $425-450 million? That would buy a lot of infrastructure repair, cops, etc.
It'll probably be private. Good possibility of using Sacramento's financials for a low interest municipal backed loan, however. And don't forget the $400 or so million dollar arena deal. While the tax payer may not pay anything directly for the Kings, they well be on the book for the arena to sweeten the pot. Not a bad deal, which is why the bids are so high. They're basically getting a 50% subsidy on the purchase after factoring in the requisite paid-for-by-the-tax-payer arena. The Maloofs probably figured they could make more selling the team if it came with a brand-new arena at its new home than they could selling the Kings with a brand-new arena locked into Sacramento. Bidding wars from all parties! Biggest, fanciest arena and biggest offer from the buyers.
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Old 01-12-2013, 11:05 AM
 
8,373 posts, read 15,212,043 times
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Sacramento's debt is already maxed out, we can't afford to borrow anything else--the city treasurer and city manager said so quite explicitly on Tuesday.

Sacramento city manager details unfunded debt obligations - Sacramento City News - The Sacramento Bee

Purchase of the team would necessarily be by a private party, and Kevin Johnson's role would basically be pleading local rich people to spend half a billion dollars on something that people agreed was only worth $300 million until this week. The arena would be a separate issue, would require issuing $400 million in construction bond debt (unlikely to happen), and that plan was based on the team owners contributing $75 million, which isn't going to happen.

Basically, we're buying a house at the peak of the real estate boom, with the assumption that the real estate market never ever ever drops, so no matter how ridiculous the price, there is no way that we can lose money. It's basically the Casey Serin school of investment.
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Old 01-12-2013, 06:31 PM
 
12 posts, read 45,298 times
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Latest is that the Maloofs are claiming they will not sell unless they retain management control and a partial ownership stake.

They have also threatened to move the team to Anaheim, as they did last year if the buyers don't agree (either the Seattle group or the Sacramento based group). Of course, the NBA owners have already expressed that they would not approve a move to Anaheim, to which the Maloofs said they would sue the owners, the NBA and Jerry Buss from the Lakers.

They clearly are making tons of friends and I'm sure the players are really loving this limbo.
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Old 01-12-2013, 06:57 PM
 
8,373 posts, read 15,212,043 times
Reputation: 4140
Just when you thought things couldn't get sillier...

Group plans to buy Kings and build a $400 million arena on Downtown Plaza site - Kings/NBA - The Sacramento Bee
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