Because the last one is getting long.
Looks like this place is going to pick up. Writers welcome.
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I’ll do it!!
This is fun!!
Brian - what’s your email if we find sone info but wanna run it by you before posting?
This Twitter thing is killing me. So much back and forth.
Yep it is for me.
So much, “yes, no….maybe so”.
Yep. Like i said in the previous thread. I’m not so much bothered by there being other bidders but its how the media is handling it.
I say we settle this little dispute between Sacramento and Seattle with a dance fight. Ala Grease. Carmichael Dave and Grant Napier on their side. Chris Daniels and Softy on ours.
Where’s Steve Large fit in this? Does he do the waltz?
Knife dance?
So be honest. Am I the only one here who keeps refreshing twitter about every 20 seconds?
No lol
Rerepost?
“@kcrabienick: Steve Pyeatt of Save Our Sonics says sources tell him Hansen deal for #NBAKings is more than handshake, it’s on paper.”
I don’t think thats really legit given on what brian posted in the previous thread.
Oh? Ok sorry
Another day in twitterverse.
Nickels speaks out:
http://www.seattlepi.com/local/article/Former-Seattle-mayor-slams-Stern-NBA-4185358.php
I agree with him about Stern and about the NBA being corrupt. But I don’t want to hear him rationalize his capitulation.
Agreed, he needs to go back into the hole he crawled out of
Meh. Go away 5 cents.
He’s the last person to put his fingerprints on the screwing of Seattle Supersonics fans.
He should crawl back under his rock, and shut the hell up.
Nickels will not be invited to join our dance fight team.
Nickels can shove it for all I am concerned
Well, it’s going to be a crazy ride for the next couple of days until that team is sold.
I bet there’ll be at least thirty other tweets stating that the team is sold to Hansen, that Sacramento group or not all during the weekend, while both the Maloofs and Hansen groups will “decline to comment” everytime they’re asked by some reporter.
Fun times….:rolleyes:
I second that eye roll.
Mike M the founder of 24 Hour Fitness said he has had conversations with the Maloofs and put in an offer. If his offer was being considered he would not be going public. Sounds like he is trying to get public support for his agenda.
His best offer for the GS Warriors (in the bay area) was somewhere south of $450m. I cannot possibly imagine that he would increase his offer to $525m for a team in Sacramento. The economics simply don’t pencil out. I believe it’s over.
Good point. Never considered that.
Mastrov group is probably posturing to put themselves in a position to gain expansion team or another relocating team in the future. That’s my hope anyway.
LJG i doubt NBA will ever return to Sac.
I disagree. All it takes is a dedicated group of investors. They already have the fan support and local government support.
I agree.
This is a repeat of the failure of ownership.
NBA model is a revolving door. If Kings move and become the Supersonics, then another city’s team (Milwaukee in 5 years?) will need a new home if no new arena or local ownership can be found. Desire for the return of the NBA builds in Sacraments. Team moves, another city opened up to continue the cycle. Sac-town is a good market with a good owner and a new arena (not nearly as good as Seattle).
I would like to throw my hat in the ring as a writer.
Hat thrower!
clearly not a sonics fan but glad it looks like you’re going to get your team back. its been too long and you guys are a great fan base. congratulations…..now back to watching losing basketball for me.
Thanks for the support bulletsfan. I remember the two years we (Supersonics) played the Bullets in the finals. Lost that first year and was crushed. Came back and won the next year. Good times. We both won! Hopefully everyone wins again. Seattle gets team, Sacramento gets an expansion team eventually.
agreed. i feel terrible for sacramento but seattle deserves a team. its a major market and has proven to be able to handle 3 major sports franchises. i hate to say it but there is a reason there are no other sports franchises in sacramento. as you said hopefully the nba can get back there at some point but the western conference playoffs don’t seem right without gp, shawn kemp, and seattle. at least at some point soon one of the three should be back.
Clearly you have time on your hand since the Bulls are giving the Knicks a beating right now.
not the bulls my friend. the bullets aka the wizards. true fans don’t refer to ourselves as wizards fans. that name doesn’t represent us at all.
Has it been rough for you ashington izards? (clearly, no W’s in that town!)
ya know its not rough anymore. once you’ve been losing this long you just take it in stride. we look for small victories haha. like john wall coming back for one. i mean the fact that we even have wall is a small miracle. we are always the 5th team in a 4 star draft. small miracles!
Sorry, read a zillion posts today.
Paul Silas stepping on the line during the inbound pass, turning the ball over on violation, in the 1978 series, haunts me to this day.
The only advantage Mastrov mght offer is the chance for the MaGoof brothers to retain part ownership. They’ll still have an arena issue. The Sleep Train arena has fewer luxury suites than the Key Arena.
Sure, but could you imagine the Magoof staying there? I guess, in a sense, they would be heros (if they kept them in Sacramento).
Marks,
I don’t think there is any one out there that would want the maloofs as part of ownership. Plus what would stop from Hansen just offering more $$$.
Think Sounders is right. MaGoofs have done so much to tarnish the team even if they satay in Sac with new owners their reputation is so tarnished it will follow the team.
Fact of the matter is that $750mil+ does not work for the market. There is no lucrative TV deal or enough (if any) Fortune 500 companies to sell out luxury boxes to make it work
Just hang in there folks, we are approaching the finish line (if we aren’t already there)
*stay not satay. Guess my autocorrect is hungry, does sound good though…..
Drink a pint and relax everyone, I’m finally starting to believe we got this
750m?
You lost me at the $ figure.
I think that is team price + arena price = $750 Million.
Yeah $750 includes beating Balmer/Hansen and the new arena if the city council of Sac is as generous as they were with the MaGoofs and their arena deal. No way NBA lets anyone buy the Kings without an arena deal in place
“Looks like this place is going to pick up. Writers welcome.”
i like the sound of that.
Mmmm ya, this moring I was thinking the same thing.
How about an open writers audition thread? If the Seahwaks can sign someone hardly anyone has heard of who has been out of the NFL for the last 6 yrs..ya never know what diamonds in the rough are lurking around here.
How about me posting a new thread at your suggestion?
Done!
So I wonder if this weekend will be as eventful with the Twitter yes no maybe so rumors?
I would have to think that there is a chance of an alcohol fueled, Seahawks fan, that might actually know something tweeting something.
I hope it happens
So I was just having fun tormenting my cat with a laser pointer and it occurred to me that I feel like a feline chasing a red dot today on twitter.
I…..
Can’t……….
Stop…….
Clicking!!!
My dog loves those laser things as much as my cat does, maybe more. But anyway thats a great analogy paul
My dogs love those laser pointers and I agree great analogy
Sam Amick@sam_amick
In an interview with @USATodaySports, Sacramento mayor Kevin Johnson insists his window hasn’t closed to keep the Kings in Sacramento.
Sam Amick@sam_amick
Johnson to USAT: “(NBA Commissioner David Stern) knows that I’m going to make a request to speak to the governing board (of the NBA).”
He had plenty of time to address the issue in Sac.
Sam Amick@sam_amick
Johnson swears he’ll get a shot here, says he’s rounding up the money & targeting $425-450 million mark as comparable to $525 in Seattle.
Basic math: $525>$450. Think the MaGoofs have a heart worth $75milion? Endgame.
I honestly do feel bad for Sac. I’m originally from the area, still have family there. They have great fans, and so do we. If they really want someone to blame for this blame the MaGoofs, not us. They are going to move the team somewhere, as a Sonics fan, I hope it gets moved here
It’s not that they have a heart worth 75 million. It’s that the owe the city of Sacramento that much and Johnson figures that debt wouldn’t have to be paid right away by a new owner that keeps the team in Sacto.
What I can’t imagine is David Stern blocking a $525 million sale for a $450 million one.
“Let’s see. Should I let Sacramento investors buy this franchise in a way that sets the value at $75 million less than what the Seattle investors will set it at?”
Can’t see Stern asking himself that question.
My question is does the NBA even care about that 75m debt the kings owner owes to the city?
I think no.
I think its a No also.
The NBA nor Sac will not let the Kings Move without the 75m in Debt being paid in full. It is part of sales agreement when the city sold the Arena to the Kings.
i understand wanting the debt paid off. But still why in the hell would NBA would approve a 450m offer vs a 525m offer. Debt or no debt.
Did you guys see these quote from that Steinmetz guy?
“Steinmetz says Hansen’s offer sparked an intense dispute within the family, but that “cooler heads” prevailed with the realization the Maloofs couldn’t afford to hold on to the franchise any longer given their financial struggles. ”
Its from an article on my Northwest.com
http://bit.ly/VVx1cD
It says the article was updated at 6:08pm
If the deal is truly done and on Paper it would be very hard for NBA to overturn given Anti Trust Laws. I would also assume if deal is done NBA help broker it. If the deal is not done its a wild card situation with the NBA if the offers were close and Sac had approved Arena Plan (long Shot ).
Question at what point does the debt have to get paid off. At the time of the sale to Hansen or when Hansen goes to move the team?
Based on the conflicting reports we are hearing it could be that Chris has signed a letter of intent to purchase pending the 2 parties agreeing to final terms etc, especially if he had the highest bid. Only a guess though
If the Maloofs move the team the debt is to be paid in full before the team leaves. I would assume the same applies to Chis moving the team but not sure. I have lived in Sac for a few years and this has been repeated over and over my the Mayor.
If thats the case why is the 77m of city debt added onto the price for the team if the debt doesn’t have to get paid off until the team leaves. Unless that 77m goes from hansen to maloofs to city which then would make sense to include it on the cost.
But still 450m at the point of sale offer vs 525m at the point of sale.
I’m a bit confused here.
For some reason Sac fans think the 77 million bucks is a big bonus for a Sac buyer vs. Seattle buyer. Not sure I see it that way. Even if it is included in the price Hansen is reported to have put on the table, that means the NBA would see a Seattle group with zero debt and an arena plan vs. a Sac group with a newly assumed $77 million debt and no arena plan. Then again, they also think these local buyers can get a group together that can guarantee to outbid Ballmer, Hansen, and his group which is the kind of wishful thinking we were probably all guilty of at one point or another before our team got taken.
Actually KJ thinks it gives them an advantage cause its “cheaper”
*someone* has to pay that debt I would imagine, and most entities would not write off a $75milion loan just because. Local or not, that should be factored into the sale price or the new owner assumes the debt. Don’t forget the new arena Arco III or whatever, the financial state of the City is not good, they are not going to get a free arena and the BOG will not let them (presumed local buyer) play in Arco II without a plan
Even if sacramento’s group could make a nearly offer to the Hansen offer, they still would need to build a new arena, no? I think they would have not time to make an offer and to accord a plan with the City to build the Arena before the deadline. And sure NBA will not allow a deal without an arena plan. What do you think??
I think you’re right. Though I suppose they could resuscitate the arena deal KJ and the Maloofs almost consummated a year ago.
My question is why would the NBA give Sacramento one more year to try to put another arena deal together? I think that is what it would take.
i dont think so. how many times have they had “one more year” enough is enough eventually. if they play this right and can form a serious ownership group with a solid arena plan i could see them easily jumping to the top of the expansion city list. things might end up unfolding for them exactly the way they did for us.
I get that you guys want a team so bad, but find it so hypocritical that some of you just piss on our every attempt to scratch and claw for our ONE pro team.
The fact is that the Sacramemto arena deal never really died and is still on the table with all participants besides the Maloofs willing to take part, including the NBA. Mayor Johnson even publicly offered it again to the Maloofs as recently as a few weeks ago. It would be ready to go as soon as the new owners agreed.
The NBA needs to step in here and do something. Either we get an expansion team or you guys. From here on out I refuse to make the other city the bad guy. We should not be fighting against each other but TOGETHER.
The problem here is that there is absolutely no reason to believe that the NBA has any intention of expanding any time in the even semi-reasonable future. The league has made it pretty clear that they don’t want expansion, and many people will argue that the league is even too big as is.
No one is getting an expansion team. That’s the reality of the situation. Which means that in order for us to have our team back we are going to have to take someone else’s. That’s not a happy thought and I think we all wish it wasn’t the case but it just is.
As a Sonics fan I’m absolutely torn between desperately wanting our team back and remembering how much it sucked to lose in the first place and wanting to spare your city having to go through that. The justification is, that if the Maloofs aren’t willing to take the deal the city offered, and the alternative is that they move the team, we figure it might as well come to us.
But, if someone in Sacramento actually comes up with comparable money to whatever is being offered by our ownership group the whole think becomes way murkier. I don’t want to steal your team if there’s legitimate local ownership and a viable arena plan. The whole thing sucks, plain and simple.
If only Michael Jordan was willing to sell the Bobcats, it would make this whole thing a lot more fun.
It’s a bittersweet situation for Seattle fans. I don’t think it’s fair to judge every one of us as hypocritical because for every one person that wants this sale to go through, there’s another fan who would wait until expansion to avoid heartache in Sactown.
But we understand your frustration, and we really, really feel for you guys.
Couldn’t agree more, SacTown. It really is annoying that two great basketball cities have been put in the situation we have. Especially when there are a couple cities in the league right now that don’t come close to the passion or support.
I’m sorry sactown that this NBA thing is a business. I would rather both cities have a team. But when you start calling Sonics fans hypocritical, you better take a real hard look in the mirror and ask your self what’s the Kings history. Hell, whats the history of most NBA teams.
@Sactown_Forever - I hope that people aren’t pissing on the efforts. I have a lot of respect for them. We just lived it ourselves with two unsuccessful last minute deals by guys who wanted to do good but hadn’t been serious enough to get into the game until it was too late.
I’m starting to feel like this is coming across the finish line in a way that the NBA will be hard pressed not to offer expansion to one of the two cities if both were to come up with deals and viable ownership. of course I thought that for sure in Seattle/OKC also and we were never able to get our deal together to test it.
The problems that I see Sac facing right now revolve around two things. The first is size and scope of this deal. Its just a big thing to purchase a team and commit to a building. If you are worth $2B you are going to be asked to commit 1/2 of your entire net worth. there is a ton of work to do with everything from the legal contract to creating pro-formas, etc. In that same time you have to get some assurances that are rock hard and solid that the city will commit to the building. Not “We hope to do it” and not “We think this city council will repeat their last offer” but a real commitment. The type necessary to drastically overpay for something and put you entire fortune at risk. Thats a big deal for these guys who are living so comfortably.
And that I think leads to the second problem which is that the city of Sac may not be able to deliver on their original arena promises. Having studied arena deals for a long time I can say that there was a lot left out of that one. No cost-overrun or revenue guarantees. Several areas of contribution are not fully spelled out. They need to get AEG back to commit to their share again when the company is being sold. They have a new council and continue to amass a lot of city debt that will make this hard to pay for.
So there are lots of obstacles. Nobody is pissing on them. Fight the good fight man. Lots of respect to Sac fans. Its certainly not the fault of the fans on the ground and I for one would love to see a scenario where both cities get teams. I’ve just been on the other side of it and know that it doesn’t always work out.
Brian, let me address some of your points on the arena deal.
1) all cost overruns were to be picked up by the developer, David Taylor, who is prominent in Northern California and is spearheading the deal.
2) the only monetary commitment the new owners would pay is an upfront 30-year lease payment of 70 million, which the NBA offered to loan to tge Maloofs and according to KJ, is still on the table, as is AIGs to run it. Johnson has been in constant contact with them over the last year.
3)Two of Johnson’s biggest enemies on the city council lost in November to candidates Johnson helped fund, meaning that he now has a majority on any issue before it ever comes up for debate.
I’m not saying we’re going to win this, but not to underestimate the time and money people are willing to put into this. We may not have the cash of your group but we’re not going to lay down
Assuming that Sacramento would recover the Arena plan that they had with the Maloofs, and assuming Hansen would not up the offer over these 525 million, do you believe Sac’s group can invest 600m (450 team + 150 arena) to buy a franchise whose real value is 300m, and keep it in a small market like Sacramento?
I can’t imagine that. I hope all this issue is just smoke where KJ do this to win votes ahead of elections, and maybe the investors just want to be preparated for a hypothetical expansion.
What do you think about that?
First of all, let’s clear up some misconceptions:
The Sacramento buyers are not going to to have to buy out the minority owners percentage, which is roughly 47%. Those are Northern California people who do not want to sell. The new owners just have to buy out the Maloof portion so that the family comes out with the same net cash as they would from the Seattle deal. So basically 53% of 450 million (which is removing the 77 million the Maloofs owe the city from the 525 million, because the new owner would just assume the debt and the city would work with them to refinance) This is why there is a built in advantage for a Sacramento buyer.
To debate Brian’s arena points, 1) there IS a built in cost-over run that was agreed to be paid by a local developer, David Taylor, who spearheaded the whole project. His reason for doing it? The arena unlocks the largest undeveloped urban landfill project in the country in the Railyards that has been sitting and waiting to be developed for years and would nearly double the size of downtown Sac and be worth billions. 2) the new owner would only have to put around 80 million dollars of upfront money into this deal, which is basically paying the 30-year lease up front. The Maloofs were going to be fronted this money by the NBA as a loan, but decided against it. Meaning the new owner would hypothetically not have to pay a dime in upfront costs on the deal if the NBA and AEG, who KJ has been in constant contact with this whole time and says they are still onboard, stay onboard.
I’m not saying we are going to succeed in keeping this team. I’m just saying that we do appear to have a plan that has been in place for the last year, waiting for the Maloofs to offer to sell. This isn’t haphazard.
And, as you can see from today’s latest rumor, who the hell knows what the Maloofs are going to do:
http://www.sactownroyalty.com/2013/1/12/3868836/maloofs-ownership-sacramento-kings-sale
First of all, let’s clear up some misconceptions:
The Sacramento buyers are not going to to have to buy out the minority owners percentage, which is roughly 47%. Those are Northern California people who do not want to sell. The new owners just have to buy out the Maloof portion so that the family comes out with the same net cash as they would from the Seattle deal. So basically 53% of 450 million (which is removing the 77 million the Maloofs owe the city from the 525 million, because the new owner would just assume the debt and the city would work with them to refinance) This is why there is a built in advantage for a Sacramento buyer.
To debate Brian’s arena points, 1) there IS a built in cost-over run that was agreed to be paid by a local developer, David Taylor, who spearheaded the whole project. His reason for doing it? The arena unlocks the largest undeveloped urban landfill project in the country in the Railyards that has been sitting and waiting to be developed for years and would nearly double the size of downtown Sac and be worth billions. 2) the new owner would only have to put around 80 million dollars of upfront money into this deal, which is basically paying the 30-year lease up front. The Maloofs were going to be fronted this money by the NBA as a loan, but decided against it. Meaning the new owner would hypothetically not have to pay a dime in upfront costs on the deal if the NBA and AEG, who KJ has been in constant contact with this whole time and says they are still onboard, stay onboard.
I’m not saying we are going to succeed in keeping this team. I’m just saying that we do appear to have a plan that has been in place for the last year, waiting for the Maloofs to offer to sell. This isn’t haphazard.
And, as you can see from today’s latest rumor, who the hell knows what the Maloofs are going to do: http://www.sactownroyalty.com/2013/1/12/3868836/maloofs-ownership-sacramento-kings-sale
Interesting
Carmichael Dave@CarmichaelDave
Word is Gavin Maloof is emptying his house here.Gave a $2300 chandelier to his car wash guy. Giving other employees TVs, etc as thank yous.
That is pretty interesting