Importance of a Signed Document

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I can’t emphasize enough how important one piece of paper is.

It is a piece of paper with signatures on it. Who signed it? At the very least, Chris Hansen and the Maloof brothers. It may also have Steve Ballmer’s signature and that of the Nordstrom brothers.

This document constitutes a binding agreement to sell the Sacramento Kings to a Seattle ownership group. That word binding is important. It means it carries the weight of law. Part of the agreement is a non-refundable $30 million deposit in the hands of the Maloof brothers.

If the NBA rejects it, they could face a law suit because of the $30 million and another PR nightmare that only a tangible expansion promise would mitigate.

While Sacramento Mayor Kevin Johnson was listing the names of 19 POTENTIAL investors who pledge to invest $19 million to buy the Kings in today’s pep rally, the NBA was reviewing a legally binding document, which only they can negate, that has all of the necessary financing legally promised..

While KJ kind of promised to reveal the name of the “whale” possibly by the end of the week, the NBA was reviewing a sales agreement with the names of three whales etched in stone.

While KJ was doing his job and rallying the troops (leadership that Greg Nickels can only dream of), NBA officials were pouring over legal documents and credit histories.

For the first time since Howard Schultz betrayed us the way the Maloofs just betrayed Sacramento fans, there is a piece of paper that says a group of Seattle investors owns an NBA franchise.

Could the NBA reject the sale? Yes they could. They won’t do so, however, because Seattle has turned in a legally binding document, while the very honorable mayor of Sacramento lives out the lead role in a Herman Melville novel.

 

 

255 thoughts on “Importance of a Signed Document”

  1. Can’t wait for all this to be over…we can get back to arguing about who we should take in the upcoming draft, and who the team should go after in free agency. Soooooo looking forward to that

  2. I wound’t really worry about the suppose group KJ is gonna name. Its nothing with out a finalized arena plan with everything paid for from the funding, pre-development costs, cost-overruns etc that they can show the NBA. They have 3 months to come with that finalized plan.

  3. They have that railyard arena framework that was agreed too they just need to finish it.

  4. If the BOG agrees with the sale, then I’m going suspect KJ will try to file an lawsuit aginst the Kings to keep them in Sacramento.

  5. Well, this is encouraging.

    @JasonPuckettKJR
    From Mayor McGinn’s office: Economic impact study on arena to be released in mid April. Environmental impact study to b released May/June.

  6. Korboko,

    For what reason can KJ legally sue to FORCE the kings to stay. There is no legally binding lease document.

  7. Can’t except to get loan repaid. And that is already required. There is no lease and the maloofs own the arena.

  8. Yeah paper!!

    I keep listening to Grant Napier and Carmichael Dave. I am curious and fascinated by the Kings conversation. It has been such a crazy ride it is interesting to see it happening from the outside. I need to shower afterwards but I will be dammed if it is not compelling and has me tuning in.

    Actually Kieran in Dallas is on the Napier radio now! lol funny I guess I am not the only one.

  10. @Softykjr: Times Ed Board doesn’t think u should be excited: http://t.co/H51d3BcC

    Good god the time editorial board is back!

  13. Everything they bring up has already been discussed and protected against. It is sad and actually without journalistic integrity.

  15. I’m excited about the prospect of Sonics back in Seattle, and I think this is a done deal, but I don’t like how it was done and when I watch what they’re going through, I can almost feel it. To me, articles like this here, feels like salt in their wounds. I’m rooting for them. I hate that we’re the bad guys (and you can’t convince me otherwise).

  16. I’m not sure how we or Hansen are the bad guys. If there are any bad guys in this, it’s the Maloofs.

  17. Just remember, they post tripe like this to get clicks from US.
    Their crap articles have absolutely no ability to affect this situation, and our presence on their message boards doesn’t either.

    I know it’s fun to argue, especially when we are WINNING.
    But you’re responding exactly the way the Times wants you to respond.
    The times is a gigantic TROLL. Don’t feed it.

  18. I feel you johndango. You are not alone.
    I unfollowed everyone from Sacramento that I was following on Twitter.
    I had to shut off KJ’s press conference.
    It’s all just so sad. So familiar.

    I’m so ready to just start talking basketball.

  19. Wow! This is HUGE news. If the EIS is going to be done in May/June, we could have a final MOU signed before a team officially moved to Seattle. I don’t think you can underestimate the importance of this. The NBA does not like the political leaders in this town. Having a completed EIS will be vitally important to getting over that last potential landmine.

    It would also gurantee the Clown running for mayor (Steinbrueck) cannot win the election and have any impact on the final deal.

  21. Like i been saying Hansen would have to have an idea on where the EIS is when he is trying to acquire the kings.

  23. I think we all knew that Cris was comfortable with the EIS and the EIS current status, but the only publicly mentioned timeframe was the EIS would take 9-12 months. Clearly, they are ahead of schedule. Won’t complain about this!

  27. Lynn Thompson’s article today about the remaining hurdles made a big deal about the Rat City Roller Girls using Key Arena. The Times arena coverage continues to be a joke.

  28. We can rationalize it as much as we want… honestly there ARE a ton of reasons why we shouldn’t feel bad. But at the end of the day WE took THEIR team. It doesn’t matter that someone else would have. It doesn’t matter that their owners screwed them. Just because you murder in self defense doesn’t mean you still didn’t murder.

  29. It does suck. And I feel terrible for Kings fans. But the league dictacted the rules with how things went down with us. Nothing you can do about it if you want a team back. Sucks, but it’s the truth.

  30. CATCH- 22
    Think about this?
    The Bad guys are the cohorts of Commissioner
    David Stern, and the Board of Governors of the
    NBA, for allowing this battle, of one city, pitting
    against another city.
    It started with the sale of the Supersonics to Oklahoma
    City, in 2008.
    The way that it was handled by the Commissioner.
    reminds me of a one sided fight that Seattle could
    never win.
    The lies, betrayal, manipulation, that prevailed in that
    dramatic exit of the Supersonics to OKC.
    Now it’s happening again only this time, Seattle is the front
    runner in obtaining a basketball team from another city, that
    is trying to hold on to therese.

  32. Makes sense that it would go faster than planned, you have the damn blueprint for this type of project with Safeco/Centurylink.

  33. The more I think about it, the more I confident I am that this deal will be signed, sealed, and approved by the NBA before the Feb. 21st trade deadline.

    If I’m Hansen and Co. I wan the ability to start influencing the team. The Kings have some good trade pieces and if I’m buying the team I want to start molding it asap. I’d want to shed as much tallent from that team as possible and take advantage of the “lame duck” rest of the season in Sac. to get as good of lottery odds as possible.

    At the rate things are going, the team we see today in Sac. will be the same one we see on opening night next year in Sea. I just don’t see that happening.

  34. We as Sonic Fans know how Sac feels. When the Sonics left it was a tough time for all of us, I spent 40 years following the team. When I was 10 years old I stayed up in bed listening to games on my transistor radio every night. I sat in the 300 level of the King Dome watching game with my 2 dollar tickets. In the 1990′s and 2000′s I was lucky enough to work for a Major Corporation that believed in giving back to the community and we participated in Read to Succeed and Dare to do Drugs with the Sonics. I was able to attend games go on court and hand out rewards to young kids etc. When Clay took our team no one outside of Seattle Fans cared. When the Sonics left all I wanted was for OKC to loose every game ( No luck with that ). Finally 4 years later I said enough and just started to enjoy the game again. I cannot wait for the Sonics to retun.

    FYI to King Fans we have first hand experience on how it feels to loose our teams as does Cleveland, Baltimore etc.

    We did not create the Situation in Sac your owners and politicians did by standing by all these years and not getting an arena deal done. I have been to Arco and let me tell you the Key is 10 times better and it isn’t up to NBA Standards.

  35. I understand your inner conflict on this and I understand why you don’t like the way it is happening. The alternative, however, is to wait for expansion which may not happen in the next 10 years.

    I won’t attempt to rationalize this. It is what it is and we are operating under the rules that we operating under.

  37. Can we stop equating business transactions to murder or cancer or things that are on an entirely different level? I’m not saying this to you specifically, but I’ve seen these analogies used way too many times and it’s just over the top and not realistic in any way.

  38. KJ has virtually no shot at retaining the Kings. He’s had years to get something worked out and he couldn’t. Not with prospective owners and not with the tax payers. At this point I think the NBA and the other owners want this to be over and done with as much if not more than the infamous Maloof Brothers. The deal is in place and at this point it’s the most realistic deal those dopes are going to get.

    Vote it up and let’s move on to the next step.

  39. Politicans did their job. They passed the arena deal last year that satisified the coity, the NBA, and the Maloofs until they got cold feet and walked away. This team moving lies solely on the Maloofs shoulders.

  41. Mojo,

    They passed framework on a plan but there are still a lot of things that still needs to be done. Finalizing the funding, whos gonna cover cost overruns etc.

  43. KJ also had the Maloof’s. Unfortunately for Sacramento, this made getting a deal virtually impossible.

  46. Bingo. They pay the bills by clicks to their site which they use to sell ad space. The more controversial articles they publish the more we come through and pay their bills. The Seattle Times just stirs things up.

  47. There is no Sac Arena Deal they have been trying for 10 years to get one one with no luck. The framework that was put in place by KJ and the NBA was not going to succeed from day one as it was never fully Vented by the City etc and the Maloofs were not going to wait around.. Hell they didn’t even know who was going to pay for cost over runs or have the parking revenue piece figured out. Don’t get me wrong the Moloofs are also to blame in this. But like I said above we did not create there mess, Seattle a spent 5 years to get to this point.

    Bottem line Sac should have been better prepared

  48. no, i think you mean economic impact statement, this was the doc that Ferguson added to the MOU, The EIS (enviromental impact study) wont be complete til later in the year

  49. That is great. Is there concern, however, that this might give fuel to the lawsuits?

  50. Let’s keep in mind that the whole “Sac has a chance to match” thing stems from David Stern, on January 10, being specifically asked if Burkle specifically would be given a chance to match a Seattle offer and he said that’s “reasonable”. Pair that with KJ being allowed to address the BOG, and now there’s this myth being perpetuated by Sac fans that the ball is in Sacramento’s court to make a matching offer and that Stern + the NBA are on their side.

    It’s bogus. In my eyes, this deal is all but done. They’re grasping to a loose comment that, through an epic game of ‘Telephone’, has become a final saving grace.

  51. Well goes back to what i been saying what can the judge really do. Toss out the agreement only to have it re-approved with post EIS vote?

  53. @JasonPuckettKJR
    From Mayor McGinn’s office: Economic impact study on arena to be released in mid April. Environmental impact study to be released May/June.

  54. Sorry, maybe this has already been asked & answered. It’s widely reported that even though we have a “binding” agreement, Maloof’s can continue to entertain offers. Is that legally possible ? Why would Hansen agree to that ?

    I still think KJ/Sac will come us short and the Hansen purchase gets done. It is admirable but hard to watch KJ/Sac go thru this heartbreaking fiasco. It brings up alot of difficult memories for us.

    We have no control over the NBA business model therefore I do not have any guilt regarding the purchase of the Kings. Do I hate what this does to the fans and employees of the Kings ? - Absoflipinloutely - - but there is no guilt. Just empathy.

  57. Just my own opinion. But how about we all stop commenting on the validity of Sacramento’s arena efforts and their situation as a whole. I recall OKC folks doing the same, telling us what we did or did not do to deserve our team. And it really pissed me off. They had no clue. They didn’t live through what we did. They were just tellong themselves a story that made them feel good. It wasn’t their place to talk. And this isn’t ours.

  58. If I’m not mistaken, when Stern made that comment there were only reports of a deal being close. If I’m not mistaken, there is nothing Stern can do to make the Maloofs listen to another offer now that the deal is signed, sealed, and delivered. The fate of the sale is up to the NBA BOG’s.

  59. I feel bad for their fans. But if its not us……..it would be Anaheim, Vegas, Kansas City, Virginia Beach……….or wherever. The Kings are leaving that market one way or another. Doesnt make it right. But that is the reality of the situation.

    No reason to qualify it or make excuses. It will never make them feel better about it either way. Some Sacramento fans are going to hate Seattle, just like Seattle fans hate OKC.

    If Clay Bennett would have been upfront and honest about things would that have been better? Would it have hurt less. NO WAY IN HELL.

    So for us to say this is different, is us qualifying it to make ourselves feel good. I dont need to feel good about it. This is a business. It is what it is.

  60. Binding is binding. The Maloofs are out at this point, essentially. It’s just a matter of it getting the once over from the BOG and things are wrapped up.

  61. Maybe its what has been mentioned here before, Hansen can use the 30 mil payment to the Maloofs and potential legal action as leverage in case the NBA blocks the sale to force expansion to Seattle.

  62. If Chris signed a binding agreement and put money down then the Maloofs cannot discuss the Seattle offer or entertain new offers. If they do then they can be held libel.

  65. Sadly the vagueness of KJ’s statements reminds me of the Port of Seattle. Very few details and a lot of rah rah. Hes playing the political game which he has to do. Thats his job. I dont blame him.

    I really feel bad for the die hards, and the kids that dont know any better that are being filled with this false hope at this point. Thats a little cruel. I’ve been there, we all have even though most of us knew the Sonics were gone one way or the other the day they were sold.

  66. Agree 100%. Even though thats not our intent, it will always be viewed by their fans as vulturing.

  68. Some say that Bennett and Stern had a plan which was to reward Bennett by giving him the Sonics which would kick Seattle in the butt to get things fixed for a return team.

    Maybe that’s the way the NBA backroom goes down. Using new owners as the instigators for change.

    For all we know Hansen has a deal with Stern wherein Hansen is the driving force behind getting things fixed in Sacto and is rewarded with a brand new team the next year. CH has said all along he is willing to wait years so as long as it doesn’t take long enough to kill the MOU he’ll be happy.

    But what do I know, I’m just talking for the heck of it.

  69. My guess is Stern is humoring KJ right now. I’m guessing Stern, the Maloofs and the Hansen all understand it’s a done deal. Stern has no reason not to entertain a proposal by KJ and another Sacramento group but that doesn’t mean he’ll accept it. We all remember Ballmer’s last minute proposal. Who knows if the NBA would have stayed even IF the city of Seattle agreed to the Key Arena renovation.

  70. This is what I’m thinking. Back when Stern told KJ he had the opportunity to match any offer, the Hansen deal was simply a rumor. Now that the Maloofs have indeed signed an agreement to sell the team to Chris & Co., how can KJ match? The Maloofs have essentially given up their rights as owners of the franchise and technically is already owned by our group.

  71. Chris Daniels ‏@ChrisDaniels5
    Design Review Board Member Brian Scott says he doesn’t think they can advance #SeattleArena plan now - too many questions on Grand Plaza.

    Looks like there are issues with the Grand Plaza idea

  72. Chris Daniels ‏@ChrisDaniels5
    Design Review Board Member Scott asks Hansen architects to redesign the plaza, stairs to #SeattleArena

  73. Chris Daniels ‏@ChrisDaniels5
    This is all part of the process…#SeattleArena design has changed a few times already.

  74. That sports law expert said that the 30 mil payment to the Maloofs pretty much seals the deal. Someone posted a link to Zimbalist’s reaction earlier in the thread, but no one posted what it was. Anyways, for SAC people to say that the 30 million payment was just for the hell of it is pretty weird. Not gonna Judge, but Chris has an endgame there, probably like the sports law expert said.

  75. Im not even concerned with the EIS or the lawsuits at this point. First things first. Get the team here and playing in the Key and all that stuff can take as long as needed. They can play in the Key for the next 50 years as far as Im concerned. Once they are here its not like the NBA can say “you never built the arena we are moving you”.

  76. KJ was the source of this argument.
    His rationale is that seeing as the transaction can’t be signed off until April, the Maloofs have to at least entertain other offers. It’s like CH put in a signed offer for the house now, the Maloofs accepted, but the settlement date isn’t until April. KJ is trying to argue that other people can put in offers because the sale hasn’t settled yet. Moot point when it’s all got wet signatures on paper, though.

  77. Well I’ve read in several articles and the USA Sports (Arnick) writer on 710 tonight that he was told the Maloof’s can entertain other offers. So, I guess I thought “binding” is binding. I don’t know if a signed sales agreement means you technically own something until all monies are paid and the sale is finalized. Just trying to understand. We need a contract attorney on this site.

  78. Isn’t the worst case scenario of the lawsuits simply that the city/county re-vote, and maybe exempt it from I-91? not much to worry about there. I just don’t see how any judge could completely invalidate the EIS. (Isn’t EIS a state EPA process?) plus anybody knows that initiatives expire after 2 years. if that case isn’t thrown out I’ll eat my hat.

  79. Now here’s a question…
    We know that the $30mill payment means that CH can sue the pants off the Maloofs (and likely the NBA) if they back out.
    But what about any potential new owners in Sacto? Surely by putting down a competing offer after this payment was made, they’re taking part in “tortious interference” too?
    In other words, are all those bit-part investors in Sacto putting their money in so that they can get royally screwed in court by Hansen, Ballmer and co. should they be successful? Sounds like the ultimate risky investment to me.

  80. I guess I understood Stern & KJ had a good and supportive relationship. So you think Stern is just “humoring” KJ ? That’s just so cruel to KJ/Sac. He really is Satan.

  82. If Chris biggest issue this week is redesigning the Plaza Stair he would most likely say this was his easiest week in a long time

  83. I’m not worried about EIS or lawsuits either. I think they are just formality and frivolous lawsuit noise. I think Hansen had all his homework done before he entered this thing.

  84. If EIS is taking way shorter than expected, that’s gotta be good. if there were much issues brought up in it that were troubling, it would take the entire year. plus, Chris is well aware of the progress of the EIS and how it is going. he wouldn’t have bought the kings if it wasn’t going good. basically, the lawsuits are the only hurdle left assuming everything goes for us this april. BKN arena was delayed at least 2-3 years by lawsuits, so I don’t see how the NBA wouldn’t let us take as long as necessary to get them resolved.

  85. I would really like legal explanations of the $30m, “binding agreement” and the Maloof’s still able to “entertain” other offers.

  86. Initiatives don’t expire after two years, but it goes from 2/3 majority to simple (50%+1) to amend or modify after two. Much easier to manipulate for politicians.

  87. Yup. Ours are nothing. I-91 can be exempted, and the ILWU suit is all accusation with little fact. No reason to worry.

  88. You’re thoughts make logical sense to me. You’re right, wouldn’t a new ownership group be opening themselves up to lawsuits ? That’s why the dots aren’t connecting here - - - - but, hey, I’m not an attorney. I just play one on TV

  89. I wonder if NBA or Maloofs could add $30 mill onto local ownership price tag since a deal was reached with Hansen then rejected after the payment was made. In a sense they NBA and/or Maloofs could say the new local ownership must make Hansen whole. Would not surprise me if the NBA was the one that recommended the payment to both parties.

  90. While KJ was doing his job and rallying the troops (leadership that Greg Nickels can only dream of)

    I’m going to get ripped apart for this, but…

    People have been comparing KJ to Nickels, and it’s probably true that our ex-mayor was not nearly as dedicated to keeping our old team here as KJ is to keeping the Kings there. But Nickels was on board with the Ballmer plan (it was Olympia that screwed that up), and he did try to enforce the lease in the face of tremendous hostile pressure from NBA. He did in the end cave into that pressure, to his eternal shame, and was rightfully booted from office, but it’s not accurate to say he did nothing to try to keep the team. I think it’s more accurate to say that the NBA, at least up until now has been more accommodating with Sacramento and KJ, whereas in our case they wouldn’t even respect the lease or the fact that Key Arena had opened in 1995 to Stern’s apparent delight, to say nothing of them looking the other way on Bennett’s bad faith.

  91. Tortuous Interference is a huge deal. I know it firsthand, not because somebody in Hansen’s team told me.

    In the last go around we were working with the city of Seattle and Ballmer had his group. It got immensely harder when OKC signed a lease with Clay because at that point any of our efforts that were intentionally designed to break up a binding contract between two other parties would add liability. Steve Ballmer was the CEO of a publicly traded company. He could not participate in any activity that could result in him being sued in visible fashion over unethical business dealings. It significantly tied our hands. Significantly impacted our ability to solicit help.

  92. I think the only way they can seriously “entertain” other offers would be if the BOG rejects the sale. Which is very unlikely. You cant take a NON REFUNDABLE downpayment/deposit and keep wheeling and dealing. You can “listen” to KJ and his group or anyone else…….but in the end you have already entered into an agreement. Seems like simple biz law to me……..but I am also no lawyer

  93. I think the situations are very different when an owner wants to stay in the market, like the Maloofs did for a while, and an owner that wants to move. Shultz tried to threaten the legislature and city. I want mine or else. Clearly didnt work. If Shultz would have continued to work with the city and negotiated instead of threatened the NBA would have been more accomodating to us too.

  94. They may mean that the Maloofs can entertain other offers UNTIL the 30 mil payment goes down Feb 1st. After that they’re locked in.

  95. So, if Hansen signs a lease with the Key now - — does that present legal issues for any new Sac ownership group ? How does this apply to the Hansen/Maloof current binding sales agreement ?

  96. So if Sacto is successful in keeping the Kings, Hansen can sue all of those bit-part investors? Niiice. That’s going to end well for them. :-)

  97. I won’t rip on you - — - - It was mismanaged from the get go and we were outmanuvered by some Okies. History check - - Did Ballmer make an offer before Schultz sold to Clay ? Or did Ballmer only come in to try & save the day after the sale to Clay Clay ?

  100. We only know about Ballmer trying to buy the team and help renovate Key Arena in the months before the relocation (early 2008). As far as I know, nothing has ever come out about whether or not Howard offered the team to local buyers before selling to Bennett. He never said anything about that at the sale announcement because he was acting like the Okies were “local” buyers.

  101. Thanks for the read. Sooooo, in the Maloof/Hansen sales contract, wouldn’t the KJ/Sac group be guilty & liable if they present a bid ? What legal reasons can the BOG have to reject the Hansen bid ? Can BOG reject “just because” or do they have written guidelines for acceptance or rejection of a bid ?

  102. The Binding Deal is signed so the Maloofs cannot entertain any other offers unless Hanson does not pay by Feb 1.

  104. By the way, I agree with KJ that we shouldn’t celebrate yet. He may not have his whale yet, but that doesn’t mean he won’t get it. And maybe that could change things as far as NBA approval goes. I think it’s unlikely, but who knows.

    Of course I won’t be celebrating much if it does indeed happen. I still feel pretty low about it. I used to think taking any city’s team would make me feel bad, but Memphis and New Orleans don’t seem like such a big deal compared with Sacramento.

  105. I would create as big as a legal mess as I could if the Sale/Move was rejected to try and force expansion to Seattle.

  106. I wouldn’t back down unless I got commitment, either in public or private, that I’d have a team by the end of the 5 year window. The absolute worst thing would to become perennial leverage for other cities. If Milwaukee gets an arena 2-3 years from now, then what?

  108. Chris Daniels ‏@ChrisDaniels5

    RT @ryan_lillis: Burkle and Mastrov discussing #NBAKings purchase. Source calls it a ‘dream team’ for Sacramento http://bit.ly/VTvXIH

    Didn’t the Maloofs already say no to Burkle?

  109. Maloofs said no to everyone but hansen and yet that doesnt seem to matter in this situation…..

  111. If this is rejected, the only way the NBA saves face, especially with the certain legal issues, is to expand here.

  112. Doesn’t matter cause KJ is gonna take their offer directly to the NBA and try to covinece the NBA to REJECT maloofs sell to seattle.

  113. Yeah, I don’t see anyway Hansen just says “oh, you matched our signed agreement, go ahead and take the team back”.

    It could get pretty ugly.

  114. I wouldn’t settle for less than an expansion team for 14-15 or 15-16 if I’m Chris and this is rejected. I would create a legal mess. you can’t just let them say “next available team” again. that’s letting them use you. if Milwaukee gets their act together 2-3 years from now, then what? there probably won’t be any other teams left to move and it may be too late in the 5 years to expand.

  115. NBA can’t force Maloofs to accept any offer. Theoretically they can keep rejecting deals until they are presented with one they approve.

    Problem is, Maloofs could sue for anti-trust if the NBA rejects offer for more money than otherwise available. IMHO, it’s not Seattle positioning for expansion - it’s sactown.

  116. Can we drop the talk of expansion for now until we see where the BOG vote is going to be in April.

  117. Is there any precedent for a signed agreement to be rejected by the NBA? Just seems like it’s opening yourself up to a world of legal mess.

  121. Plus, what stops Hansen from just upping the offer even more if the Sacramento group matches. At some point you would think a signed contract means something.

  122. Yes, just recently. Pizza mogul Alex Meruelo tried to buy the Atlanta Hawks but was rejected when the league decided he did not have the capital to run and operate an NBA team.

    This would NOT be a problem with the current group in Seattle.

  123. People not to listen to;

    Ryan Lillis
    Sam Amick
    Aaron Bruski
    Carmichael Dave

    …Kevin Johnson

  124. Dave Softy Mahler ‏@Softykjr
    Other offers aside, NBA owners won’t like setting the precedent of telling other owners who they can’t sell their teams to.

    Good point. If NBA owners rejects hansen’s sale that would cause a bit of an issue among themselves. Aka retaliation against the other owners when they try to sell themselves.

  125. Was there already a signed agreement in place or did the NBA just tell him he wouldn’t be able to buy a team?

  126. I’m with Softy on this all the way. The sale agreement is signed and delivered. This isn’t an auction, or even a negotiation. It is over. All that is left is the formality of the BoG approval. I will say right here that I firmly believe that there is no chance that they are denied.

    But, if they were denied, the Maloofs would not be compelled to sell the team to anybody else, especially if the get to keep the $30 million that Hansen. And, let’s be honest, the Maloofs aren’t going to be pleased if they’re muscled around by the NBA again. I can’t see them agreeing to capitulate and sell to Sacramento if the league says no again this time. They’ve been humiliated enough in this situation. If the league won’t let them say yes to Hansen, the Maloofs will be more than happy to tell Burkle and co to shove it. One last chance to give the NBA the finger.

    I don’t want to see Hansen sue the league/Sacramento. His relationship with the league is too important. But I don’t care if the Maloofs want to sue. Heck, I’m all for it. They’ve got nothing to lose, and they are already familiar with the big antitrust guys because they’ve been on retainer for a couple years now.

  128. http://m.usatoday.com/article/news/1856939?articlePage=1

    “Sacramento mayor and former NBA point guard Kevin Johson has been told by commissioner David Stern that he still has a chance to save his team if he can provide the funds to compete with the Seattle offer as well as a viable arena plan and present both to the Board of Governors.”

    When did stern ever say this?

  130. No idea. Buts its not Sterns decision. Its BOG decision and if BOG wants to deal with another PR nightmare/blackeye and potentially lawsuits they have no choice but to accept the sale to Hansen.

  132. This all started back on Jan. 10 when someone asked Stern if Burkle, who was a speculative buyer at that point, would be given a chance to match a Seattle offer, and Stern simply said that would be reasonable.

    It has taken on a life of its own and is now regarded as an official right of first refusal by Sac buyers, which it is not.

  133. Sorry, I disagree - - - MaGoof’s need the $$. I don’t think they care who buys the team - - - they want the most $$ they can get. Heck, they’d sell to me if I offered them $400m for their share.

  134. Wow.

    One commenter on the Sac Bee article says their arena plan is further along. Sigh. Ignorance is bliss among some.

  136. Isn’t that what happened when someone tried to move the Timberwolves to New Orleans?

  141. True. I remember stern saying that, but this was before anything binding was in place. I think Stern was referring to them being able to match something before there was signed deal. There is so much misreporting and information out there it’s insane.

  142. There’s an article on PBT/NBC sports online about Burkle and Mastrov getting into “serious” discussions with Sacramento.

    What part of SOLD does sacramento not understand? The Maloofs WANT to and DID already sell to Hansen, he just needs 15 out of 29 YES votes. It is over. Ballgame.

  143. No kidding if there was an actually finalized arena deal thats shovel to ground ready wouldn’t it be talked about in the media?

  144. There was an agreement in place. Apparently, though, the deal wasn’t rejected by the NBA and was actually mutually terminated by the Hawks and Meruelo.

  145. Does BOG have public written guidelines for approval/rejection of a sale ? Or is it knowing the secret handshake ?

  149. They only reject sales if there is money problems see Timberwolves attempt to relocate to New Orleans. I haven’t heard of there ever been a rejection of a sale for something else other than money issues.

  150. It’s really starting to heat up between us and sacramento. I’m trying my best to keep my mouth shut, but i’m getting really fired up about the return of the sonics. If i’m let down again, it will be devastating.

  151. To me, the comment was “I think it’d be reasonable of the Maloofs to entertain a competitive offer from another group.” I don’t think it had anything to do with the BOG.

  152. Was just wondering (off topic here),

    What about the Kings history, banners, jerseys etc? Will the Hansen group leave it all in Sactown? I would think he’s talking to Clay Bennett about getting back the Sonics history. I sure hope so on both regards.

    In buying the Kings, basically the only thing Chris will be bringing to Seattle are the players, in street clothes. What else is there beside the players (the “team”) and a few trinkets lol?

  156. If that’s the case - - - then Stern should be telling Sac game over unless the Hansen purchase is rejected. When and under what circumstances did Stern give KJ the opportunity to present to BOG ?

  159. Hey, I know you already sold your car to that guy and already gave him a bill of sale and just need to transfer the title, but if I give you the same amount of money, can I have it instead?

  162. They have said for a long time that they don’t want to sell. $30 million could buy them more time before a new TV deal or for other options to show up.

    Reality is this whole situation would turn too messy if the BOG voted no. And like most organizations they aren’t going to shoot themselves in the foot like that.

    At this point KJ and the Cali media are just tugging at the hearts of the fans and making that much worse on them when the vote is a yes.

  163. I stand corrected. I thought Top Rank was approved and then the relocation was rejected but they never even got to that step. Top Rank was rejected because they were trying to buy the team with loans and future earnings.

  164. I would think Hansen wouldn’t want anything from Sac. They would be Sonics now. Unless, he wants the hardwoods and scoreboard like OKC took from us. “Thrifty thieves” as someone earlier perfectly named the Okies.

  165. Stern is giving him a chance to speak to the BOG which is fair. KJ should have a right to speak at the BOG. BOG doesn’t have to listen.

  171. There is a signed sale agreement between the Maloofs and the Hansen group. This isn’t an auction like another poster said. I don’t see how KJ can convince the BOG to reject the sale agreement when they know it will trigger lawsuits and an even bigger legal mess. The league wants this to be over, they want back in the Seattle market and they want to be rid of the Maloofs.

    Sacramento is the 20th largest tv market in the country and has a 30-year heritage of supporting an NBA franchise. They will instantly become the most attractive market without a team and will be first in line to get an expansion franchise or relocate another team. KJ being able to make a proposal to the board of governors is more about saving face politically at the specter of losing the Kings on his watch. I’m not saying he doesn’t want to keep the Kings. Of course he does. But with a signed agreement in place, this strikes me as too little, too late.

  173. Below is part of the transcript were Stern basically said any mayor can come talk to the BOG.

    on. The mayor of Sacramento has asked me, well, if it comes to pass because we’ve been reading it in the newspapers, and he knows that anything he reads in the newspapers is likely to be accurate, could I come in and address the Board of Governors or the relocation committee, and I said, always. The communities have supported us‑‑ and many that haven’t, but Sacramento has been particularly supportive, are always welcome to present. The mayor has been in before. So that’s it, other than the speculation of what’s going on.

  174. For the love of god dude. Why do you continually bring up expansion? After we have come this far over five years. Expansion? So frustrating.

  175. I don’t think there’s ever a time where they can’t “entertain” offers. Shoot I can entertain offers for the Kings too! But just like the Maloofs I can’t act on those offers because the Maloofs already have a signed agreement with Hansen and the other Sonic savors to sell. My understanding at least…

  177. I smell a Thrift Shop parody.

    I thought I read somewhere that the team owns the arena down there. If so the Hansen group would have to do something with all that stuff, even if it was just donating it to some museum.

  178. I’m so confused right now reading the Kings fans reactions about the possibility of adding Burkle and Mastrov to the ownership group in Sac.

    What part of signed agreement don’t they understand!??!??? This is driving me absolutely nuts. We have a binding agreement with the Maloofs. I think Stern is somehow going to have to speak up soon about what exactly is going on here. Why is Sac even allowed to make a counter offer at this stage in the game?

    God bless those poor fans in Sac. I mean really….their reactions sound identical to when we thought we got Ballmer to renovate the Key, Shultz to sue Bennett, the city to challenge the lease on Key Arena, etc, etc.

    Their incomplete lack of knowledge or complete ignorance (take your pick) regarding g Hansen’s deal with the Maloofs is getting a bit annoying.

  179. What about the floor? Do they have a practice floor? Does that belong to their arena?

    Weight room equipment. Computers…………..office furniture……..depends on what they own.

    Who knows. Maybe they want to start fresh with everything new. But it would be theres to use or get rid of.

  182. I equate it to the Ballmer renovation offer. He wanted to buy the team too…..the team that was not for sale. We should have known too.

  183. They could, but why would they? The BoG will never vote against a relocation to a city with a new arena/fully executed arena agreement.

  184. I remember the more pessimistic people bringing that up over and over. Only to be drowned out by our hope that the NBA wouldn’t take the Sonics away to a smaller market with Balmer in the picture…

    I’m reminded of all our dumb hopes when I read the Sacremento blogs. Another reason Seattle fans shouldn’t post on them. Let them experience what we did. It is all part of the grieving process.

  186. This is why I wanted the BOG vote to happen soon. Sacramento fans shouldn’t have to wait 2 months to have hope, but only to be disappointed at the end.

  189. Makes sense, thx. Just trying to anticipate and think thru all the twists and turns on this wild and crazy ride. But what I should be doing is just enjoying each turn as it comes at me. That’s the way to enjoy a good ride :)

  191. Nice - - - - it’s so perfect. when ever I see Bennett & OKC - - - I will always think of “thrifty thieves”.

  192. Now some guy on the Sac Bee article say Larry Ellison is coming on board. Not if he has to keep the team in Sacramento.

  197. I don’t think there is enough time to review everything and have the vote in February.

  198. Agreed !! Stern really needs to put a stop to all this. It’s just downright cruel and unprofessional. Oooops, I forgot it is Stern afterall. He’s probably enjoying it.

  199. oh ok I’ve seen some pretty out there statements from Sac reporters on Twitter since KJ’s press conference.

  200. One thing I was wondering and you might be as well, is this has to be basically decided in the eyes of Stern and the NBA, right? Common sense would seem to dictate that Hansen and the Maloofs would not have gotten this far without the guidance of an NBA ready to rubberstamp the sale and move. So why let Sac get their hopes up even higher even though they won’t be able to save their franchise?

    I don’t think the NBA or Stern views things in terms of “franchises” anymore. Look at how murky the situation is already getting with “history”. Where is the Kings’ “history” going to go? Will the Sonics get their “history” back? These aren’t franchises with storied histories anymore, they are golden tickets. Golden tickets that allow he who possesses one to run an NBA team. Problem is, there are only 30 of these tickets, and the one being used to run the Kings has been bought by someone who wants to use it to run the Sonics, and that’s how it’ll be. Now why get Sac mobilized and motivated if they don’t really have any hope? Well, you’ve got a few of those tickets off being squandered by teams that are struggling to get by, don’t have top notch arenas, and so on and so on. Wouldn’t it be in the best interest of the NBA to have a group ready to snatch up that next golden ticket, whether it be the one used to run the Bucks, Grizzilies, Pacers, Hawks, etc.? A group and city that isn’t under a 5 year time constraint like Seattle? They want to play a big game of musical chairs here where they pit cities against one another until all 30 tickets have fallen into such an order as to optimize the value of the NBA as a whole. I expect that to be what we see over the next 15 years rather than any expansion or contraction.

  203. All you need to know is…
    @MSteinmetzCSN I’m told Maloofs shopped deal to Larry Ellison (of course they did) but Ellison said no to the $525 figure.

  204. Stern has learned from the sonics issue so him doing this again like he did with Seattle wouldn’t be proper.

    He is being fair. Would you want expect the same if Sac kings were our team that was being sold?

  207. Right, I have felt that way for a long time. It is the new NBA model. A NBA team used to be able to get a new arena built by a home town city by the threat of moving. In these economic times, that just doesn’t work anymore. As Sean says, a “musical chairs” approach is the new NBA model of getting new state of the art arenas built.

  210. Agreed. Having Burkle and Mastrov appear now is eerily similar to the way Ballmer appeared five years ago.

  213. Sorry - - I respectfully disagree. He’s not being fair to Sac if the Hansen purchase is a done deal. He’s being cruel.

  217. I have a question.

    I keep seeing people refer to the relocation deadline as the sort of de facto finish line here. The NBA Board of Governors has an annual meeting during All- Star weekend. Why wouldn’t the BOG simply vote on the sale then?

    I’ m not sure I buy the idea that there wouldn’t be enough time between now and the weekend of February 15th to review the terms of the sale and any other relevant information.

  218. Guys- remember what Brian has advised: react to the facts, not the reaction or speculation.

    Nothing’s happened yet, these are all just rumblings, no need to get worked up. Whi’s position would y’all rather be in tonight? Ours, with Hansen/Ballmer and a signed binding sale agreement, or Sac’s who just had a press conference announcing $19 mil towards a situation where the team has already been sold.

  220. The weekend of February 15th is 24 days from today that might be enough time, maybe. I wonder if they were to vote on this during the all star break if it wouldn’t just be the vote to approve the sale and then have the vote for relocation at the next meeting?

  221. Seriously.. after Maloofs rejected the railroad arena plan, KJ should of talked to Burkle about trying to buy the Sacramento Kings. What were they doing for a year? There was a point when KJ didn’t seem to care if the Maloofs moved the team, and talked about bringing in a alternative like a NHL team. I don’t get it, why the urgency now of trying to keep the team after it was sold to Chris Hansen?

    Did he do anything when there was threat to move the teach to Virginia Beach?

  222. According to NBA Tv’ s persistent little ticker thingy, the sale proposal has already been submitted to the Board for review…

    Haven’t heard that before.

  226. I believe this is standard. They sent in the sale agreement, then the league forwards it to the members of BoG. The members and their lawyers look it over, and they vote in April.

  229. The April part is what’s confusing me. they’re going to meet in just under a month during the All- Star break.

    Why wait til April if you can get this whole thing behind you a month and a half sooner?

  230. I think KJ will only give reasons WHY they should stay, not HERE is our offer..

    One one hand you have a signed deal, with a FATTY arena in place. On the other hand you have, well nothing yet.

    Regardless, of what KJ does there is a fucking signed deal in place! The Maloofs won’t sign another deal with someone new.

    Game set match. My conscious is clear.

  231. I’m pretty sure I read somewhere that the BOG need longer to verify the Seattle guys’ financials. They check the prospective owners’ financial credibility on every proposed sale.

  232. Does anyone remember how long it took for the BOG to approve the sale of the Sonics to Bennett?

  233. only once in 20+ years has a relocation been rejected. some crazy stat like that so the precedent is they love moving team! This move increases everyone’s value and the NBA as a whole..

    All the Cali owners will want Sac out for selfish reasons(think M’s poo pooing our arena deal now, they don’t want competition)

  234. Hey guys, 1st time blogger here. I’m from the east coast, currently visiting family here in Seattle. I have cousins here that are completely going crazy over this recent sale to the Hansen group and so I’ve decided to read a little more on whats going on. I’ve been a huge Celtics fan since a young age and I definitely favor the return of the Sonics to Seattle.

    I’ve been seeing multiple comments on this blog mentioning how tunnel-visioned Kings fans are….but to be honest you guys are completely the same, just on a different side of the argument I guess. Even though the sale has been made, I think that this is far from over. I really do think that Sacramento has a legitimate shot of keeping the team. Many are starting to think that he’s mostly likely just lining up owners/arena plan to get a guarantee from the NBA for an expansion franchise b/c the Seattle deal is done. But I feel that he knows something that we don’t. Looks like Stern has promised him something here, or else he wouldn’t be putting in so much effort to get this done. KJ is definitely thinking that the odds of keeping the Kings there are goods as long as he does what Stern requests. I wouldn’t be surprised if Stern is guiding his every step. I know it’s something you dont want to hear but don’t be too surprised if this really is happening.

    Again, I’m not a Sacramento guy. Just giving a neutral opinion. Ultimately, I’d love for Seattle to get the Sonics back.

  235. it is better to watch in horror and awe as this unfolds. tried reaching out, got snapped at. my conscious is clear!

  236. I don’t think it’s over either. But a lot of it depends on which reporter’s well-placed anonymous source you believe.

  237. Hansen is putting down $30m on Feb 1st that would strongly imply he knows something we don’t, more so than KJ’s actions, for what it’s worth.

    Do you honestly see the owners voting to deny a fully vetted sale in order to direct another sale in a different direction? I don’t believe they want to set that precedent against their own interests. You’d have to get a majority of them to do so.

  241. Once again, please try not to interact at all with the Sacramento fans right now. They are irrational and grasping at straws right now. They are in the same position we were in just five years ago.

    I still remember those feelings and emotions as our debacle was happening. I’m sure you guys do as well. So please respect Brian and others that say to leave them be. We need to stay on the high road here.

    Please and thank you.

  242. Sorry, but that’s just a naive take. We know what desperation looks like. We also know what false hope looks like. Believe me, we’ve been there. If there’s a city that has a broad perspective on this issue, it’s Seattle. We lost our innocence a long time ago. Sacramento fans are clinging to a hope and a prayer like we were five years ago. The main difference being that Sacramento doesn’t have a lease that needs breaking.

  243. I agree with you Sean. It makes good sense for the owners to approve the sale. It would be best in the NBA’s interest to call in a special BOG meeting asap to approve this sale, otherwise it is giving false hope to both fan bases. I know the NBA is going through all the financials, background checks, etc. on the buyers, but is the sale going to be approved in April or once the league is finished w/reviewing the deal between Hansen and Maloofs?

  244. Not gonna disagree with you. I don’t have the most experienced opinion out of all of you here (b/c i don’t know all the details on what went on here when the Sonics left in 2008). I didn’t mean to ruffle any feathers here with my original post, just wanted to give you a perspective of what the situation looks like from an NBA that’s not emotionally vested in either team. That said, Go Sonics! I hope this works out for Seattle!

  245. Five years ago our hopes were 1) the Ballmer group’s plan and 2) the lease trial. Were we irrational to have hope? I don’t know if that’s true, but we’ll never know what would have happened had Olympia done it’s part or if Nickels hadn’t caved (or if the NBA had simply been fair and honest with us).

    I don’t know that Kings fans are grasping at straws. Stern is letting KJ make a pitch, and maybe it’s not just out of courtesy. It’s more than he gave us, certainly. I agree with KJ-don’t celebrate yet.

  246. I agree with you that this isn’t a done deal, but I’m probably one of the few here who do. A lot of it depends on which reporter you read. Everyone seems to have their own well-placed anonymous source that says something different. For instance, Yahoo’s Adrian Wojnarowski wrote months ago that Stern wanted to get a team back in Seattle and was pressuring the Maloofs to sell to the Hansen-Ballmer group. He was the first to report that the two sides were reaching a deal, and now says that the owners will overwhelmingly approve the move.
    But on the other hand, he’s allowing KJ to speak before the BOG, and I don’t know if he would do that if it was a done deal. I also don’t think KJ would be going to all this trouble if he thought it was too late.

  247. Thanks for your support. I also think this probably isn’t a done deal, but am probably one of the few on this site who do. Mostly because I don’t trust Stern and because I think it’d be a mistake to underestimate KJ.

  248. Telling fans not to interact with each other is like telling people not to loot in South Central Los Angeles during the riots…..just sayin.

  250. Wow, this chain really got long fast. I am no website expert but is there a way to limit a certain number of comments before a new page starts?

    Anyhow, I would appreciate it if people would not point to attendance figures as we know they are a worthless indicator of fan support. People ragged on us for that back in the day and we knew it wasn’t true. Some of these years the Maloofs had to make trades to increase the payroll to the payroll floor or else they would have been fined. It would be like rooting for the Marlins or Pirates but with no revenue sharing at all back then. So I would just caution against that. Maybe we can just stick to talking about reports and rumors.

  251. the point about signed documents and threatened lawsuits is excellent. i can tell you this from my own memory: when baltimore was angling for the browns, the maryland stadium authority — which had been chasing fruitlessly after expansion for over a decade — suddenly switched tunes and began musing about lawsuits and so forth. suddenly — PRESTO! (not presti) — the deal gets inked to get the city back into the league.

    except for baseball, every major league rests upon a foundation that has cracks. they want to keep themselves away from any discussion whatsoever about subjects like antitrust, cartels, and so forth.

    i can see, and would in fact prefer, this resulting in an expansion team for seattle if sacramento can truly get its act together. but i cannot see how this winds up with seattle standing outside holding the beggar’s cup. that’s over.

  252. Regarding the “whales”, I keep reminding myself of what Brian said. The report says discussing working together. Shouldn’t they be publicly saying they want to join a group and then work on details later? Sac needs these guys willing now so they can work on all details. Because of that I am not worried yet (not that I am worried at all really).

  253. They aren’t worthless or else KJ wouldn’t have brought them up in his pressor yesterday when he basically said Sac was a better NBA market than Seattle. I know that attendance is just one indicator but it is not worthless.

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