Sorry don’t have a fully worked up article here ready to go. With 180+ comments in the old one it is time for something new. This is NOT a Sac Free thread and in fact I doubt my friends in Sacramento will like my opinions at all.
I was pretty floored that they missed their deadline yesterday. In truth I was really floored. I think it says a lot that even as they were saying “we think we will have it done in an hour, no 2 hours…” that they really didn’t know. They had elements that they were so confident about agreement on that they were willing to commit to a date but when the lawyers put them down on paper and one side or another refused to sign.
I also think it is quite odd that all the discussion around the new third investor seems to completely skip over the fact that Mastrov, who is the guy who has been leading this for months and was the hero just 48 hours ago is now willing to step aside and be second fiddle. What did he see out there? Why wasn’t he able to get it done? Those questions aren’t going to be answered now or ever.
I think their concept of forming a non-profit to bond against parking revenues is going to be really ripe for litigation. I don’t know the exact legalities of it but my understanding is that the reason they were going to sell or lease those parking revenues to a third party operator as opposed to just bonding against the revenue themselves was that they are prevented from issuing bonds on that money by a recent California law. Even with limited information I think it seems that they will be at some risk of accusation of circumventing that law by forming a straw entity and deeding the revenue over to them for the sole purpose of being able to bond against it.
And lastly I would say that we all know that both cities are going to have to go into the NBA on April 3rd and say “We know that there are some things here that are speculative but you can count on us to deliver on our projections. You can have faith that whatever we say we are going to do we will deliver on it.” whether that is parking revenue forecasts, construction cost, permitting or anything at all related to the project.
How can they credibly make this claim when they have fallen short of every deadline they have set? That is the problem at the end of the day.
“I know we said we were going to have our Whales by March 1 but at least we got to them on March 13.”
“I know we publicly claimed our offer was competitive but it was in fact $100 million short.”
“I know we said we would have a term sheet with Mastrov by March 21 but at least we got to one with Vivek by March 27th”
There is a pattern here and the pattern shows that they are scrambling and that no matter how much they want it and how hard they are willing to work they simply may not be able to deliver on the things they promise. No matter how much their media tries to cover it up do not think that these shortfalls and setbacks won’t be noticed.
nice post, I’m optimistic, I think April will be a great month.
It feels like inviting as many people to the table as possible, so no one gets too big a piece of the blame pie that will be sliced up soon.
Agreed. April 2013 is going to month to remember.
I can’t decide if I feel better or worse after yesterday. I am not going to just dismiss the fact that they added more money from a guy already on the inside with the NBA. I just don’t see why he’d throw his hat in this when things seem so messed up if the unless the NBA assured him this thing is still wide open. I cannot escape that depressing thought.
Well, currently pretty much everything from Sacramento(owners, arena, financing) look iffy at best.
We shall see how it works out but I’m not sure if changing potential owners two weeks prior to the final deadline set by Stern and all those problems with their term sheet are anything but troubling news for Sacramento.
He’s throwing in his hat in the ring because if he’s successful he’s no longer a minority owner and he’s a hero in Sacramento. If he isn’t successful he’s still a minority owner with the Warriors. He’s got nothing to lose so why not go for it?
I also don’t see any negative repercussions if it doesn’t pan out for him. He’s still an owner, he’s generated name recognition, he’s put himself at the top of any future lists; there are actually a lot of reasons he’d attach himself to this and not be devastated by its failure.
Chris Daniels @ChrisDaniels5 16s
Still no term sheet in Sacramento. Spokesperson for City Manager says arena town halls tonight/tomorrow will go on as planned. #NBAKings
And there goes any chance of a vote on tuesday.
Brian sums up my own thoughts better than I could……The point of every deadline, arbitrary or not, and not meeting that deadling does not bode well. Sure they can look for sympathy from the public because of the time frame they had but guess what the NBA will say you had years to figure something out……..they knew how much time they had, why make a deadline that you in fact wouldnt be able to meet time and time again. Someone needs to re-think strategies going forward in their neck of the woods.
I’m trying to look at the past month or 2 from a business perspective. everything we’ve seen from Sacramento so far has been short of what was said and/or late. Now the information about trying to circumnavigate the parking revenue law. If I were a business choosing between the 2 proposals I would most assuredly choose Hansen’s at this point.
to me the reshuffling of potential ownership at such a late date is even worse than missing the term sheet deadline. these guys are grasping at straws.
Arrggh - LaSalle beats Kansas State 63-61
If
Wouldn’t this new guy have to sell his shares of the Warriors before the NBA considers him as a new owner for the Kings? If so, and he isn’t successful with the Kings then he’ll lose out on the Warriors as well.
HE HAS NOTHING TO LOSE……..if he wins he is a controlling partner and if he doesnt he keeps his title he already has. Not hard to figure out the motive. They say he has been in discussion for months well then why was the bid short if he was involved 3 weeks ago (since they claim months). So why was the bid short. This is long term posturing by these guys and maybe some other motivations.
April will be a good month it seems
The Sacramento fans don’t think the NBA would care that they have missed every deadline…I dont understand why that isn’t at least a concern…but thats how they feel.
He won’t have to sell anything unless Hansen is denied and their bid is accepted. He would only have to sell his shares pending approval, he doesn’t lose a thing by doing this.
“What did [Mastrov] see out there?”
My guess is that he saw no way to make a profit or even to break even on this team at that sale price. Just a guess, and of course we never will know.
Yeah they are focusing on any bit of good news and separating the bad news and avoiding it. Just because they are doing that doesnt mean the board of governors will do it and they are the ones that matter. At this point I would be surprised if they had an agreed upon term sheet before the 2nd. Maybe Im wrong but i April 3rd rolls around and nothing happens its over officially.
The CIty Manager seems to think that it doesnt matter till the 18th and 19th which is far from the case. The BoG will not let this deal absorb the BoG meetings after the close of the season. They have bigger fish to fry as a league thats why APril 3rd is the BIG day for both sides.
Can any of you imagine is Hansen tried to pitch the plan Sac is trying to the Seattle city council? He would be laughed out of the room. Their plan is practically begging for a lawsuit.
http://mynorthwest.com/?nid=719&sid=2233991&utm_source=twitterfeed&utm_medium=twitter
Some good stuff a Bob and Groz interview with Dale Kasler of the Sac Bee and then Brock Huard dropping the word cautiously from cautiously optimistic
Not good news for their new whale:
http://news.investors.com/technology/032213-649015-tibco-software-earnings-outlook-misses-stock-plunges.htm
A London whale (nothing to do with Sacto or the NBA; rather it makes me wonder what’s up with all the whale metaphors recently?).
http://www.nytimes.com/2013/03/22/opinion/after-the-london-whale.html?hp&_r=0
These seem to be the 3 biggest hurdles for Sacramento’s arena plan from what I can tell. I consider them to pretty significantly exceed the issues the Seattle arena still faces:
The land- It isn’t even all owned by one entity yet. City Manager Shirey has put the onus on JMA ventures to purchase up the rest of the necessary land. What are the odds that gets done before April 3rd? Before April 19? This is probably small time stuff, but it’s certainly fairly symbolic in showing just how far back one plan is vs. the other. Theoretically an owner of any of these parcels could hold out for quite a bit if this is simply going to be pursued privately. It’s more likely than not all land owners will be paid handsomely and graciously walk away, but there are no guarantees. If the city isn’t going to claim eminent domain (which would create a whole separate set of legal issues), there is no guarantee that the land is purchased, at least not in a timely fashion.
California law- State law apparently doesn’t allow the use of parking revenues to go towards anything besides maintenance, parking structures, etc. What kind of work around are they going to use? Pay one debt with this money, use the money you would use for that debt to pay for the arena, like the last arena proposal? Sounds legally iffy at best. Or is there a different loophole to jump through with the whole non-profit idea?
Parking assets- So the non-profit will technically own the parking assets correct? Otherwise what type of collateral is there for this corporation to put up for the huge debt it is going to take on to provide the subsidy? What if the parking funding falls short, what if the ticket surcharges fall short? What if the non-profit defaults much like the situation in New York? Are the parking assets then lost? Auctioned off for good? The risk sounds like a dangerous trade off for the leasing idea, which would mean no parking revenue for the city at all but maintained ownership of the assets. How sound is this funding plan? I guess we’ll have to wait for the specifics and the experts to break it down.
I have no idea how easily these things can be worked through or if they’d prove to be total non-issues, they just seem to be significantly larger problems than currently face or have even faced our arena plan in the past.
Someone I followed retweeted this but I thought it kind of interesting. I’m not sure if its a big deal but interesting none the less.
David Bienick @kcrabienick 28m
Jim Cathcart of STOP says #arena subsidy opponents now fundraising for petition drive. #nbakings
I’ve been thinking about why this Ranadive guy is getting involved at the last minute and here’s what I’ve come up with. What if he’s doing it as a potential win-win for him? If, for some unlikely reason, the BOG rejects Hansen he gets to be owner of the Kings. If they approve the relocation then he looks like a hero in Sacramento for trying to save their team and hopefully converts more of their fans into Warriors fans, which is something the Warriors are no doubt excited about as it would add a huge new chunk of customers for their product.
Anyway, another day another theory. Can’t wait for the 3rd/18th.
The consensus seems to be that this group has never had a lot of momentum in the past and would struggle to get the needed signatures. Perhaps Sacramento having to rush their plan would give them a boost, but the way I see it, by the time they had gone this far, the NBA will have already decided months in the past. I don’t think there’s close to enough time for these people to get loud enough to affect the outcome.
I said in the last thread and I’ll say it again…at worst, Ranadive is getting a ton of publicity out this. He’s gone from relative “unknown” to “tycoon” in the span of 24 hours thanks to the Sactown media pumping out the City Hall narrative. There’s absolutely nothing to for him to lose on this.
BTW Brian….the counter to your point about Mastrov from CMD is that a guy like Vivek saw that it WOULD get approved so that was the only reason he was willing to sign on..
The “annexing them as Warriors fans” angle is one I hadn’t considered, and intrigues me.
I think when you see arguments like “Why would Vivek get involved at this point?”, you don’t need to worry. First of all, good arguments come in the form of definitive statements, answers, not questions. Secondly, that same thing was asked about Mastrov and Burkle. Thirdly, that same thing has been asked by us about Hansen and Ballmer! These rhetorical questions can be asked by either side about any participant and they really amount to nothing.
I would be more surprised if this didn’t happen in any city looking to help fund an arena.
Especially if the Warriors vote against relocation.
True…although we could have made that same claim in 2008 when Ballmer, Stanton and Sinegal offered to purchase the Sonics. Come to think of it, I think I did make that claim.
Apart of me is hoping for a Chris Hansen pulling a Gordon Gecko type move by manipulating the Tibco stock, haha.
I hadn’t even thought about the idea that this show of support from a GSW co-owner and potentially the organization as their Paul Allen ‘no’ vote could be a clever move to capture some of that market if the Kings leave. Maybe it’s a bit of a drive for attendance, but they’d obviously be more interested in the TV market anyways. Sac is still top 20 for the time being, though I wouldn’t be surprised to see it usurped by Portland and others in the years to come. I don’t want to come off as saying ‘ah just go root for the Warriors!’ to Kings fans, just that it’s entirely reasonable that this move has a strong, rational ulterior motive.
You know, if I were Mr. Ranadive, and I’m not obviously - but if I were, I wouldn’t want to sell my shares of a team that’s going rise in value when it moves to downtown SAN FRANCISCO with an amazing new waterfront arena - …unless I was hoping to get a potential SWEETHEART of a deal in another market. Like Sacramento. Which also happens to be a very broke Sacramento.
The city can’t make opposite sides of a magnet stick, and that’s what they’re doing
Two questions come to mind.
1. Why isn’t Burkle or Mastrov the majority owner? These guys are bailing out. That is the only way to interpret the introduction of Ranadive as the new top dog. They obviously do not want to be on the hook for 50% of the franchise.
2. What becomes of Sleep Train Arena. There is a lot of talk about the new arena but no plan has been mentioned for eliminating the event competition that Sleep Train represents.
They simply have too many issues to overcome. There are 2 seconds left on the clock and they are down by 10 points. Ranadive is the seldom used backup point guard being given a little playing time.
By the end of this there is gonna be one of those conspiracy theory shows with Jesse Ventura about the ins and outs of the saga.
You had me at Jesse Ventura…
Anyone worried Stern is going give Sacramento another deadline?
No. I think Stern wants this resolved by April 19th one way or another.
Stern set this up very deliberately to allow time for a decision to be made. Think of it like a Supreme Court case:
April 3rd: arguments will be heard
April 18-19: decision will be rendered
So yeah, like a Supreme Court case as opposed to an up or down proposition voted on day of in a legislature.
Chris Daniels @ChrisDaniels5 23s
MT @kcrabienick: #Sac treasurer Fehr tells #KCRA creating nonprofit to issue #arena bonds will not isolate city from risk if $$$ fall short.
would get approved meaning arena?
That doesn’t sound good
Meaning everything…that this is a done deal so that is why he is popping up…
It’s not a question of why Ranadive is getting involved. If he were adding $100 mil to become a partner, that might make sense. The question is why did he suddenly become the #1 guy? The only logical answer is because Mastrov and Burkle cannot or will not step up.
In my opinion, the answer is both. Mastrov cannot and Burkle will not step up. They can’t raise their offer high enough to compete with the Seattle group. Stern let them know they were done, and offered to have his good buddy Ranadive step in as the face of the losing team, rather than force Mastrov and Burkle to publicly concede and withdraw their offer. Everyone wins by Mastrov and Burkle not being publicly humiliated for their poor efforts.
I totally agree about Ranadive having that ulterior motive. He is risking nothing and even if he stays as Warriors minority owner he has something to gain.
Interesting the news about Tibco the day after his notice of intention as lead investor is made. Im sure its just irony and nothing else but humorous none the less.
Any idea if they’ll have it online again like last night? That was actually kind of fun to watch.
Pretty good theory. Also it gets Ranadive’s name out there, and maybe piques the interest of the Indian population towards his efforts. Not necessarily acquiring the Kings but may lead some from India to follow the Warriors since they will be in San Francisco and that is a gateway to Asia and may get some global followers from India. The NBA does want to expand its marketability to the Asian Continent and India is a big market that is untouched really. Get his name in the news and maybe it resonates with some from India and they follow his efforts with the Warriors, or in a worst case scenario for us, the Kings.
done deal for them that the kings will stay or done deal for us?
Different place so don’t know if they have cameras.
I think he was saying what the ideology of Carmichael Dave is on this subject so it would mean he is now involved because its a done deal that Hansen’s deal will have a no vote. Pretty much ass backwards from our thinking
Those guys are good. Just give them tap shoes, canes and top hats and they’d be set.
Ok. The law pertaining to 72-hour advance notice pertains to meeting agendas, so it’s not that they need to have the full term sheet posted 72 hours before they hold their meeting. Instead, they can just keep listing the arena in the agenda with a brief description and work it in whenever its done. Seems like a somewhat pointless law.
It is and that may be the motive having the council members not look over it heavily. With that said I have the increasing feeling that the council wont vote on the matter til April 2nd or closer to that date. Doesnt really matter the council could pass it but I bet the NBA has enough reasons with it to be leery of it actually getting done as the term sheet says. Meaning the NBA will probably assume, especially with California politics, that they will have to go back to drawing board/amend things ala Hansen having to amend the M.O.U. before council finalized it. I doubt they can get something that usually takes at least a month in a week and a half.
Plus I heard them mention county contributing….doesnt the county gotta have a say in that even if it isnt that big of issue. They still have to be able to vote on contributing. I just dont see it being ironclad or even we well constructed wooden structure ;)
Off topic, but for some reason the blog quit forwarding you to blog.sonicsrising.com when you type in https://www.sonicsrising.com.
Gahh…. Moderated.
Let me try this again. For some reason when you type in the URL of SonicsRising, it doesn’t forward you to the blog anymore.
a few things:
does anyone else think sacramento plugging themselves as a “one horse town” is more of a negative than a positive? it seems to me that the NBA would prefer to be in a top tier city standing side by side with their peers in the NFL and MLB as opposed to being in an off brand town like sacramento.
also, project this thing out 10 years into the future, which cities future seems brighter? i dont know about you but for me there is a palpable feeling in the that seattle is about to break through and jump up a level or two. look at all the development going on, in the past few years ive counted no less than 10 cranes in downtown/capitol hill seattle YEAR ROUND. look at what amazon is doing, google is doubling down on their presence here as well. the future here is so bright i cant imagine the NBA wouldn’t want in on that.
MMMM I’m having a root beer float from a&w. Forgot how good the root beer was.
ever had virgils? best root beer ive ever had.
Yeah the projection part Jason is something I have said since the start. Project this thing out past grass roots and all that what if they suck ten years from what will they look like down there?
I believe the “new guy” wasn’t it mentioned that he would throw some money at the Sacramento ownership group only IF the BOG denied the sale/relo to our ownership group?? Does he have $$ in play right now? Can he do that being that he’s a minority owner of GS?? And is he or is he not the “new majority owner?” If he is I don’t think he can put money towards the cause while still owning a piece (even though he’s a minority owner) of another NBA franchise? Wouldn’t that be like Paul Allen throwing some $$ CH’s way for a minority stake in the SuperSonics?? Just some questions I’d liked answered…?
So they hope to get the term sheet done tomorrow if not Sunday lol…..it continues
Let me say that I continue to be really impressed with the work their fans are putting in and the support that all of them are giving the team. I know that I’m jaded and I do not think it matters at this stage of the game. That doesn’t mean I don’t admire their efforts.
I wish we had had all the resources that they do. It would have been a really interesting battle.
Could it be that they are using him to sway some NO votes at the BOG meeting?? It was stated by Daniels that he knows some very important people?? Could that be Sacramento’s play for bringing him on & maybe not monetarily as of yet??
They can make a “bid” to the NBA, but the NBA does not own the team. They cant accept a bid on behald of the Maloofs. They can reject ours, but the NBA can not accept theirs. They do not have a purchase/sale agreement in their hands to be approved or rejected.
I really doubt it.
Dale Kasler @dakasler
City manager Shirey - “I hope to get it done tomorrow, if not tomorrow, Sunday.”
I agree. Their effort is to be commended.
Unfortunately the Maloofs if denied the sale don’t have any other options. I think Stern/BOG will then force them to sell to the Sactown group. They forced Shinn out of NOLA, so this wouldn’t be any different. Stern is ratcheting this thing up to be Seattle or Sacramento. It’s not going to be, we deny the Seattle offer, & now the Maloofs keep the team & keep losing $$, or they look elsewhere. I guarantee that’s not going to happen… It will be either CH’s Seattle Sonics or KJ’s (Just putting him because I don’t want to put all 1000 of Sac’s ownership pod/whales, whatever) Sacramento Kings come next season.
I wish we had had all the resources that they do. It would have been a really interesting battle.
What do you mean?
Probably the political will to get something done??
Yes, but he already has had his finances reviewed by the NBA. That’s a plus for him, but this change this late is not the best development.
He’s talking about back when we were fighting to keep the Sonics.
Not quite, they would have Chris Hansen’s non-refundable $30 million dollars to run the team with while they hold an open bid so they can sell to the highest bidder. Having that money makes a difference.
I found that town hall website, but nothings on yet. Don’t even know if it will be on there or not. I hope so.
the social media landscape as it exists today would probably have been a game changer for us back then.
I know. I meant what resources they have that we didn’t. Is he talking about Twitter and some of the other internet advances? Or does he mean something else? I was just curious.
And Shinn wasn’t forced out, he was bailed out. He couldn’t afford the run the team anymore, didn’t want to run the team anymore, had local buyers fall through, so the NBA stepped in, reportedly at his request. The NBA isn’t going to want to get in the habit of forcefully pushing owners out the door unless it comes down to an unbearable situation. They call things like that ‘nuclear options’ because it tends to blow everything up, not just a precise target.
Or Wednesday…..or Friday……
Remember - if and when the council votes it will be non-binding, and judging by the leaks, a highly suspicious financing plan. Anyone here honestly believe the NBA will choose that over where we are. I don’t.
And that’s not even taking into consideration Sac has a $80-$100MM offer gap for the team and this new guy isn’t exactly NBA wealthy. You really think he is going to offer up a 1/4 or more of his net worth to increase the offer to keep the team in Sac?
@ChrisDaniels5 well duh. That is why SAC is a subsidy and SEA is a loan, which ironically is going to be the tipping point that kings stay.
Huh? Some clown twattering.
A city leader fighting tooth and nail to keep the team? Nickels takes too much blame for the team leaving but he wasn’t exactly KJ either. If KJ was mayor of Seattle there is no way they settle that suit.
You really think he is going to offer up a 1/4 or more of his net worth to increase the offer to keep the team in Sac?
Well, people don’t know what his net worth his. They know what his stake in his company is worth, but presumably he has more money than that.
Check is in the mail.
You’re right that Nickels wasn’t as motivated as KJ, but he was also facing a lot of hostile pressure from the NBA that KJ isn’t. So to say “KJ wouldn’t have settled” is kind of an apples-oranges comparison.
I would be willing to bet most of his net worth is tied up in his company as are most of these guys. That was reported as $318MM yesterday and his stock took a dive today.
Yea he thinks that cause its a subsidy they will WIN and keep the team.
True - the climate back then was not good. The two stories are not at all comparable in that regard but I think KJ’s relationship with the NBA also has a lot to do with it and if he was our mayor who knows what sort of cooperation we would have received from them. He is to be commended for his efforts.
When KJ made this personal with “Seattle’s going to be 0-2″ and went on his rant a few weeks ago I lost any respect for him. I don’t care if he’s appearing to be fighting, he’s nothing more than a rambling gas bag
what happened with Mastrov was that the NBA told him “you sir are no whale, more like an overachieving tuna buy thanks for trying”
edit:
(I meant but, not buy)
This fallacy is tiresome.
Both cities are directly supporting, participating, in their respective arena efforts. The difference is that Sacramento’s pulls directly from their general fund, making it politically a target. Seattle’s participation is isolated to funding that otherwise would not exist, with anybody familiar with Tax Incremental Financing, will understand the politically insulating mechanism.
They are trading off their general fund that they hope to backfill. We are trading off straight up wealth of the market.
There is a built in strength of market in the financing mechanism that some folks are just missing.
We can afford another sport or two. They are selling off assets in an attempt to keep one.
Or… They told those guys to pay more and he saw that he would lose money if he did, so, they found somebody that was willing to eat a loss in order to be a primary owner.
Either one is plausible, but speculative.
Yes, as I have said before, if public subsidies were the be all, end all, the Kings would still be in Kansas City, the baseball Giants would be in Tampa Bay, and there wouldn’t be a dozen or so privately-financed arenas in the NBA.
I think they are both the same, a real whale does it for the fame and glory so it wouldn’t matter to him putting more money even if it meant losing money. Like those multimillionaires owning soccer teams in Europe and expending all in big names even if it doesn’t give any profit at all
The only reason Matsrov, Burkle, and Ranadive have jumped in is they stand to gain something and if they dont they havent lost a thing they are back to where they were before they entered the fray. Low risk and high reward. They arent gonna bid to Hansen’s level unless its made up by the city selling its assets to compensate the whales for their money. If they actually had to take on most the risk they wouldnt be involved. The investors for Sac hold all the leverage, they are the ones doing the saving. The city is the one with the risk all the way around.
Off-topic
USA vs Costa Rica is playing with snow fall conditions.
this is a mess
Portland
Utah
San Antonio
Indiana
Orlando
Memphis
OKC
For whatever reason, the NBA seems to have a liking for smaller, “one-horse” towns.
Aint that the truth…ill be pissed if we lose points because of some stupid slip or something
Went to Cowbell Kingdom and SacTown Royalty….it’s pretty hard to look at these people. It reminds so much of Save Our Sonics. KJ, his whales….really dropped the ball. I can’t believe they have no arena plan, a whole new owner and a deadline to meet with less than 2 weeks. I’m happy to see the Sonics on their way back, but KJ really stirred a pot of false hopes down there.
sac keeps bringing this up. according to them our public contribution is somehow less than because it wont hurt seattles bottom line. apparently the NBA has got a fever and the only prescription is more general fund $. total BS.
I’ll be pissed if one of US players get injured badly due to a slip. I’m glad Eddie Johnson isn’t on the pitch.
I hate to get too excited as a Sonics but, but if honestly look at it from a Kings perspective, I would be totally devastated right now. KJ and their city council is blowing it. They could actually come up with a credible plan and finally have a solid ownership group and still lose the team because they took too long to present it. They have given the BOG an easy out and that’s something they couldn’t afford to do.
Does anyone else find it odd that there has not been a word out of KJ the last two days? Not even a tweet from what I can tell. He is their leader. He has to be out front on this at this critical time,
Ridiculous…..Why even start the game!!!!!!!! This is BS
So they are going to continue tomorrow? If the stop for 15-20 minutes you are risking enormous injury potential. You cant restart the game tomorrow thats stupid
I have no idea what happened…..ref called it…then J/K……
It cuts both ways for Sacramento, the 20th largest media market can only afford 1 team and is likely going to lose it.
Most of those others are smaller markets than Sac, or are… More affluent.
Corporate support in Portland is pretty good, and I hear the owner was involved in some software company.
Indiana better known as Indianapolis has the Colts NFL team and the Indianapolis 500.
Off topic, the condo my wife and I purchased 15 years ago (then parlayed the inflated value, equity, into a house in north Seattle) burned today at 11am.
Hopefully nobody I know had property near it that was damaged, and they had to leave a meeting all of a sudden.
http://seattletimes.com/html/localnews/2020621938_apartmentfirexml.html
And San Antonio has the wildly popular rodeo, so popular that the basketball team needs to get out of town. Major sport is sometimes a matter of context and location. PBR is very minor, but a great big deal in some cities.
KJ’s silence speaks volumes. He has a mouth full of humble pie.
He is on vacation
I agree with others, there is no way the BOG is going to want the April 18-19 meetings to be dominated by this saga. From all I’ve heard, they have a lot of other important issues to get to also. The final vote on this will occur on April 3rd or shortly thereafter IMO. Either that or one side will be told that they won’t be approved on the 3rd and to concede, making the vote on the 18th a formality, with everyone already knowing what will happen.
+1
DOH! I guess that saves us all from his “here we stay”, “play to win”, not our team, we’re a one team market, we have whales comments for at least a few days.
Ironic time to go on vacation….maybe he thinks its best he be gone until he goes to NYC to make his pitch. Plausible deniability” I wasnt around, I dont know why they couldnt come to a term sheet in time….nothing to see here not my fault…I brought whales to the table.”
I don’t put anything into KJ’s silence, really. He did his part, he got an ownership group together (which is pretty above and beyond for a mayor) and then left it in the hands of the guys with money and the guys who put together legislation like an arena deal, the city manager, his staff, and the private parties involved.
KJ’s role is essentially complete at this point, besides perhaps being a cheerleader again for his city once everything comes together.
I don’t know what KJ could be doing right now, really.
LMAO @ ”overachieving tuna” … loved that!
Except that the Pacers are not the only game in town. They are based in Indianapolis, which also is home to the Colts in the NFL.
And Indy also has a major speedway (INDY 500), that also hosts nascar.
To be fair, Portland’s status as a one horse town has more to do with inability to build facilities moreso than lack of population base.
Mmmm, nice angle. He’s a hero for Sac either way. He becomes a majority owner or he recruits fans for the Warriors - - - actually makes pretty damn good sense to me.
Two months of “look at me” is hard to set aside.
Agreed !! Oh my, Over-Achieving Tuna. What would Charlie say !!
I just don’t see what his role would be at this stage, though. He got his “whales” or whatever, hooked them up with the people they need to be talking to for an arena, and that’s that. I mean if he goes out now and starts talking, he’s only going to get tough questions on the arena negotiations, etc, and since he’s really good at the cheerleading aspect, there’s nobody to cheerlead against besides his whales who aren’t coming to the table fully it appears.
It did seem the next move was to start going after Seattle, but that seemed to get dropped suddenly. Wonder why……
Yeah “Think Big” was going to keep releasing Anti-Seattle rhetoric and KJ was backing it. All of sudden he hasnt said much especially since Stern called out the bid. Maybe Stern was willing to let things play out until the piss poor bid. Maybe Stern has since said go about your business but not in public. Hell Stern couldve said alright you guys had your shot now let me do some damage control and he is controlling how this is playing out in the end…who knows (like I always say lol)
For me, missing their self-imposed deadlines means nothing. I don’t think missing the self-imposed deadline really means anything to the NBA. Yes, the NBA needs time to vet the deal, but this was a deadline Sac set on itself. The more interesting thing to know would be if the NBA gave Sac a deadline to deliver their proposal.
Hear me again - -
Ha, the Maloof’s PR guy is having some fun on twitter tonight
Eric Rose @EricWRose 47m
Interesting NYT story - # RonBurkle Pressured, Investment Firm Is Said to Skip Fees http://nyti.ms/YrKOeK
Yes,
Yes, I blanked about the Colts. That still leaves six “one-horse” towns with NBA franchises, or 20% of the league. Can the same be said for any other major-league sport, except possibly the NHL (which is skewed by the number of Canadian teams)?
And, no, I don’t think the Indy 500 (or San Antonio’s rodeo, as another poster has suggested) are comparable to a major-league sport, no matter what their popularity, because they take up a relatively-tiny window of time each year.
For those of you more knowledgeable than I on this subject — - Is it within the NBA’s power to extend/postpone to provide Sac more time to bring a more solid proposal? Can the NBA decide to put the Hansen PSA/reloc on hold indefinitely ?
I would guess they can (and will) do whatever they want.
For instance, two years ago, when the Maloofs were trying to move to Anaheim, the date to file for relocation kept getting pushed back. Not the same thing, but that tells me that they can break their own rules if they feel like it.
But these aren’t just private deadlines they are keeping to themselves. They are publicly announced goals they are failing to meet. It makes their effort look like it’s lagging behind even where the most optimistic supporters (themselves) see things. One of these proposals is being pasted together haphazardly in a tiny amount of time with a rotating door of investors and the other has been locked in place, worked on over the course of a couple of years, and hasn’t needed to be amended or promoted since January. There is something to be said about perception here.
They can, but why would they? I mean if they’re that invested in Sacramento having a team, just deny the PSA for whatever reasoning they’re going to use. If they keep delaying and delaying, it’s going to run into a point where it becomes problematic for planning for the Key next year and you risk losing Hansen + Ballmer for a deal that’s struggling to materialize. You’d be telling Hansen that his group and his signed PSA are blatantly their second choice and “can you please go wait in the corner while we figure out what Sac is doing.” You can’t keep moving the goalposts without starting to look fairly unprofessional.
Well that’s disappointing - — I would hope their bylaws would provide if a team is sold and filed for relocation that it would require them to vote. The NBA imposes their deadline to file for relocation - - - one would hope/assume that they would have to vote within a specified window of time.
I would put the odds that the NBA just straight up promises, in writing, an expansion team to one side as higher than those that they move to delay this beyond April 19, just to put things in perspective.
Let’s not even worry about extremely, extremely unlikely hypotheticals.
I am sure they could, but since Stern combined the 2 committees so that the process is streamlined, I doubt they would skip the vote.
I highly doubt that they extend anything. Look what happened when the bid was said to be too low; Stern came out and made notice of the importance of April 3rd. April 3rd is the big date and unless something comes up to change the BoG mind from the 3rd to the 19th it will be about getting all the owners lined up to vote the same. Even if there is some division the vote will be near unanimous if yes or no
Thanks - - - I certainly don’t think it would be a wise move on their part. I just wondered if since they impose deadlines to file for reloc - - - do they have a bylaw that requires them to vote within a certain period of time.
I continue to believe Sac cannot/will not get this done within this timeline. Just wondered if the NBA could say they need more time to consider all offers since they are allowing Sac to bid.
I agree, considering all the Stern comments thus far. I was just wondering if there are NBA bylaws regarding a vote timeline when there is a binding PSA/relocation filed.
So most of yesterday and today, I’ve been away from my computer because I was attending a church convention.
Looks like I missed a couple of really weird days.
I go outside for the first time in a month and I come back to over achieving tuna and people losing $200M in a day.
Wait 200 million in a day are you talking about the Tibco (Ranadive’s company) losses in the stock market?
I learned today that Brett Comer is an incredible player to watch and it isnt because of his scoring prowess. I havent enjoyed watching a player pass a basketball in some time.
I also learned that sometimes term sheets are harder to get done that initially thought. You need more napkins than you have on hand sometimes
BTW Kevin was it you a few weeks ago saying that if Otto Potter has an off night Georgetown isnt very good? Because I would say that analysis was perfect
’twas not I. Though every time I watch him he gets thrown off his game by a terrible to mediocre defender and gets in his head and spirals down from there.
Very low on my draft board. Smart dropped a bit too with his recent outings.
I’m almost to the point of saying if we don’t get McLemore then trade out of the daft completely and stock up for next year.
Yeah there isnt much there maybe get a role player in the back end of the 1st but the top of the draft doesnt look good. I wonder how many guys stick around or leave early that shouldnt leave just because of next years potential class.
For example I have a feeling CJ Wilcox will be leaving just because he has a better chance at being drafted (he will be a guy that excels in workouts cuz of shooting). If Wilcox is the 35th best player this year he may not even be in the top 60 next year, This years high school class is pretty special and deep. I wonder if Bennett would be a good pick in the 4-7 range. I know he is undersized but he is intriguing though he is too small for a power forward and lacks quickness to play the 3 at least thats what scout think.
Yeah there isnt much there maybe get a role player in the back end of the 1st but the top of the draft doesnt look good. I wonder how many guys stick around or leave early that shouldnt leave just because of next years potential class.
For example I have a feeling CJ Wilcox will be leaving just because he has a better chance at being drafted (he will be a guy that excels in workouts cuz of shooting). If Wilcox is the 35th best player this year he may not even be in the top 60 next year, This years high school class is pretty special and deep. I wonder if Bennett would be a good pick in the 4-7 range. I know he is undersized but he is intriguing though he is too small for a power forward and lacks quickness to play the 3 at least thats what scout think.
Should we start a bet on what day the term sheet is “completed?”
I think I have my next write up.
4/19/14
What Brett Comer throwing the ball over his head, when every (other) player would be feeling incredible pressure, and his teammate flies in for a one handed throw down. That FGCU victory was a sigh to behold
One of the best parts of the FGCU win was that they were only eligible for 2 seasons to make the tournament and they beat one of the most historic institutions in the United State and they have only had a basketball team for 11 years and a school for 17 years. Their head coach Andy Enfield was on with Mitch in the Morning (Sonics Insider lol) and Mitch was bragging him up.
Bet that wont be the last time we hear from that Enfield guy. I have a feeling some big time programs will be calling especially with his pedigree coaching under Rick Pitino, Leonard Hamilton and in the NBA as an assitant.
That is what I love about college basketball is the moments like that. I just watched the game a 2nd time online because once wasnt enough. Plus I hate Georgetown
Interesting read about Mr. Burkle and what he is doing other than arena dealings having to concede money management fees on one of his firms because of losses. Interesting to note that Magoc Johnson is involved in the firm.
http://dealbook.nytimes.com/2013/03/21/under-pressure-burkle-is-said-to-forgo-investment-firms-fees/
The tournament is CRAZY this year. I picked Kansas State to go much deeper, picked Villanova over UNC as I just thought UNC was too inconsistent this year and everything is just messed up now in the two brackets I have going. There are two regions though where I’m almost perfect for no apparent reason and that seems to happen every year until I hit the sweet 16. When Harvard beat UNM I knew it was going to be a really wild tournament. I think the Zags do have a chance now. Really fun tournament. Georgetown exiting so early was shocking. However it helps my SDSU pick over Georgetown in the next round as I like them making it to the Sweet 16.
12 days to April 3!
I don’t know if the NBA has so much a “liking” for one horse towns but rather a feeling of guilt if it leaves those towns because they will have a left a town that would have no longer have a sporting option.
There is also the case to be made that it’s not necessarily the NBA preferring one horse towns but the town itself going way out of it’s way to keep it’s one and only pro sports team. Therefore, the league winds up with 7 of them.
Let’s keep in mind that the last 3 expansion endeavors on the part of the league were into markets with major pro sports competition. Vancouver (NHL), Toronto (NHL & MLB) and Charlotte (NFL).
There is also the situation where for the first time in league history, the NBA actually owned one of it’s own teams and that was in a small, weak market wtih NFL competition and they made sure to stay in that market.
Also, Stern inherited Portland, Utah and San Antonio when the league was a disaster.
The league tried to block the Clipper move from SD to LA but didn’t have the bylaws in place which set the standard that they have now.
Relocating to one horse Sacramento was a no brainer as they were the largest market without a team and outgoing KC was the smallest 3 sport market in the country. Moving from the most over saturated market to the most under saturated is a no brainer no matter how you look at it.
Yes, Seattle to OKC is a black eye and Vancouver to Memphis was as well but even the latter has it’s own story. Had the Canadian dollar not been so weak and had there been a local in place to buy the team, the NBA probably wouldn’t be in one horse Memphis. That was a move made to placate the NHL as well since they didn’t like the competition that was provided by the Grizzlies. Those were the few years that the Canucks didn’t sell out all the time.
Not saying that Sacramento has an edge now. Seattle still does. All I’m saying is that the league doesn’t necessarily prefer one horse towns but rather one horse towns will put up the fight necessary to stay relevant, thus making a league exit tougher.
Good points. Nice post
He’s not unknown. He has two #1 NYT bestseller books, and 1 international bestseller. He’s known as an innovator in biz circles. There was some kind of publicity and/or media around his pushing his daughter’s jr bb team to the finals. Perhaps you’re on to something in that he may be a publicity seeker, though.
Good point… why unless he can really make some coin out of this deal, or like others are saying, get good publicity/love in Sacto.
I think it’s been framed more like this:
April 3rd: Decision will be made
April 18th: Decision will be announced.
It’s still 1000X better than what we had. I’m sorry but KJ is desperate, and he’s doing whatever he can to fight, which is good for him and his city/fans. I still argue that he and everyone else knows this is a losing proposition, and they’re just fighting to be the owners of the next franchise available.