Good luck with that $425 Million Dollar bid…
Average NBA Team Valuation Increases By 30 Percent
Please don’t give up on the thread below which has a lot of good points made in it.
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So I would assume a Seattle team instantly loves into the top ten on this list?
It looks like that would be the case
So Brian is your thought that, since average franchise value is already $503 million without the Kings sale, Sacramento won’t be able to bid lower due to loan/relocation fees as they have been saying?
Actually looking at that list, the franchise value is already $525. Could that be because of the offer?
That’s what i was thinking
Yeah, it has to be because of the offer as last year the value was $300 million. Without an offer I couldn’t imagine the value going up like this, especially with a failed arena plan.
The BoG will take the $425mm offer because the fans in Sac are so great and did everything that was asked of them. NBA owners don’t care about money that much.
lol
I wish the NBA cared that much, then we’d still have a team.
Good luck with that Matt lol.
I was being sarcastic. I learned with the Sonics move it’s all about the money.
Sorry Matt my bad :)
The reason all the values are going up is because of the great CBA they bargained last year. Of course, this just proves how silly it is that anyone sided with the owners when they claimed that they were losing money and that players make too much money.
This guy clearly doesn’t get it…
http://www.sbnation.com/2013/1/23/3906724/chris-hansen-sacramento-kings-sale-relocation-seattle
“That’s not how the NBA works son”
Hes has to be joking, right? Professional sports owners are always going to go what benefits them and their cities, and in this case thankfully for us is getting back to Seattle and we get our Sonics back.
And another thought.. How does he know what relationships Hansen/Ballmer have with the league? From the outside looking in I think Hansen has a strong relationship with the NBA and we know Stern loves Ballmer and that’s only going to help our case one would have to believe.
If people want to make this personal and say Seattle didn’t do enough, or fight hard enough to keep their team like Sacramento is doing…
Then they should put their money where their mouth is. Sacramento should bite the bullet and publicly finance the stadium 100% and then turn the building over to the Maloofs as a gift. If they do that, the Maloofs would stay guaranteed.
Thats exactly what Clay demanded Seattle do. Build a half billion dollar stadium and give it too him for free. Anything less then that was unacceptable and casue for relocation. So call a spade a spade. Anything less then 100% publicly financed stadium solution and you lose the team? Then apparently you no more wanted to keep your team then Seattle did.
Or they should build them a new arena every ten years (which is what was asked of us). Seattle has spent more public financing on the NBA alone (to say nothing of the other teams) than Sacramento has ever had.
And the Kings don’t even have a lease for the NBA to ignore, as they did with us.
I get really tired of the distortions of why the team left.
This article made me sick. This guy is arrogant and rude. Calling CH son? I mean the way he talks its like Stern is his bff. Maybe this guy is one of those looking for a bunch of clicks. Either way the guy is a moron
Chris Daniels @ChrisDaniels5
Chris Hansen/Steve Ballmer boost average NBA Franchise Values 30 PERCENT? That’s why they (owners) would approve it. #NBAKings #NBASeattle
Tony Bizjak @TonyBizjak
Clock is ticking on Kings future: NBA has begun process of vetting the Hansen group’s financials and sale agreement, source says. #NBAKings
right on, brian. this is why the nba will do NOTHING that ever might lower the value of any franchise. the idea is to drive that up, not go the other direction. . . which to me, spells “S-U-P-E-R-S-O-N-I-C-S.”
Chris Daniels @ChrisDaniels5
RT @cbssports1140: Mayor @KJ_MayorJohnson will speak again today at 2 p.m.
Dude is fighting the good fight. Even if the odds are against him.
Can’t wait to hear about more local businessmen. Or maybe they have a vague pledge by one of the whales now.
One thing is for sure. KJ is really pushing the PR. Sadly for him this isn’t really registering much outside of Seattle and Sacramento.
Supposedly according to sactownroyalty
KJ is gonna talk about more investors.
I don’t see anything about whales except from them
Ooh, maybe he found another 20 people to pitch in $1 mil apiece. Now he just needs to find another $475 million.
Just an update
Ryan Lillis @Ryan_Lillis
I realize #NBAKings fans will be #WhaleWatching today at mayor’s press conference. But I think the seas will be quiet.
If he doesn’t name any big-money investors, this could backfire. Every time he calls a press conference without a major announcement, he’ll lose stature. Eventually, he’d become “the boy who cried ‘whale’.”
My guess is, he’s going to get the two guys who have already shown interest (the 24-Hour Fitness guy and the Pens owner), and run a P.R. campaign to convince the world that a dolphin and a tuna together are really a humpback.
Part of KJ’s strategy is to line up a competitive or matching offer. Doesn’t it seem likely that the Hansen would have foreseen this potential outcome and included in the purchase & sale agreement an option to increase his offer if it was matched?
After KJ calling hansen’s offer outrageous would they even match it.
Part of the problem is that the league can’t force the Maloofs to sell to the competing offer. The BOG is going to be deciding on approving the sale and relocation.
So I’d imagine if they did vote no the agreement would be torn up and the Maloofs would be back to square one. Only with all the extra baggage that would come out of it. At that point matching doesn’t matter since they could entertain offers.
plus $30 million richer.
I don’t think you guys get it… Sacramento isn’t thinking the NBA is going to force them to sell the team. What they think/want to happen is that the NBA denies the sale to Hansen and then boxes the Maloofs into a corner because they will have to sell to someone this offseason. They don’t have the money to do it anymore.
The only way that works is if the NBA says that the Hansen Group is barred from having further negotiations with the Maloofs. And that the Maloofs are barred from negotiations with any group that wants to move the team.
Not going to happen.
“What they think/want to happen is that the NBA denies the sale to Hansen and then boxes the Maloofs into a corner because they will have to sell to someone this offseason. They don’t have the money to do it anymore.”
I can understand that position, but the NBA can’t force an owner to sell to a specific party. Trust us, been there, done that, bought the “Robbed” T-shirt.
Good points CM. My only thought was that maybe by raising his offer above any competitive unsolicited offer, made prior to the BOG decision making process, could be helpful.
There never was a matching offer. If there was another interested party the Maloofs would have played them against each other to drive the price up.
Remember it’s not like people didn’t know the Kings were being shopped until two weeks ago or something.
Huh? The Maloofs stated for years that they would not sell the team. Sure they may have looked into relocation but they always maintained that they would remain as owners. It wasn’t until right around Christmas when rumors began that they would be interested in the selling the team if the price was right. That was the first public indication that they would even consider selling.
Actually the stories about them considering Virginia Beach came out well before that.
Rumors. And 95% of what came out of VB was from the VB media and nobody else. VB was never going to happen, it was just drivel.
No doubt it was never going to happen, but they did meet. That’s not a rumor. I guess the larger point is that signs have pointed to the Maloofs being forced to sell for quite some time. There’s no excuse for anybody in Sacramento to be blindsided by this.
I can agree with that. But what good does that do now? Sacramento might be late to the party but I don’t see why people are blaming them for fighting for their team.
The reports of them being broke have been out for years and at least since fall with VB. Groups could be formed. Hansen has been going for probably a year and a half but also made contact long long ago on the past Sonics saving attempt. They could have lined people up.
The Mariners are not for sale but everyone knows they are positioned to sell so you can bet people are interested and making calls and arrangements.
sorry, but if you guys needed public indication that they were for sale then you deserve to be climbing up hill like you are right now. i’m sure no one “behind the scenes” in sac wasn’t aware that they were trying to unload the team for quite some time….denial
It’s common sense. Hansen didn’t let the Maloofs public statements regarding unwillingness to sell. He approached him and made an offer he couldn’t refuse. Why didn’t Sacramento?
It was obvious since the day our arena was approved that Hansen would try this. Why didn’t Sacramento investors show more initiative?
*didn’t let those statements stop him from trying to buy.
Key words in your statement Mojo: first public indication.
We’ve known, at least it has been obvious since last February, 2012, that the first team that could be available to move would be the Sacramento Kings. We knew and I am sure the the Sacramento leaders knew. Also, no one ever lets it be known that something is for sale. The more you say no, the higher the price goes. What we have here is a savvy buyer, who didn’t get mislead by the Seller’s statements that the team was not for sale.
Sonics fans read this article and knowinglt nod their heads.
http://espn.go.com/nba/story/_/id/8872654/opinion-sacramento-kings-fans-matter
Great article
Chris Daniels @ChrisDaniels5
The only safe bet today is there will be more “whale” talk in Sacramento, than Seattle, and that is unusual. #orca
Ha!
Not sure why, but I’ve spent some time on Sacramento message boards today (not posting of course, just lurking).
So much anger. Violent hope. Venom. Exactly like us back in the day.
This whole thing sucks.
I want the Supes back as bad as anybody.
But this whole thing f*cking sucks.
Things are going the way I predicted.
We’re seeing Sacramento grossly overestimate their chances and hopes (though I think they do have A chance). They firmly believe that this is their thing to lose now, and that Hansen and us are nefarious saboteurs looking to screw them over, and because of that, the vitriol is ramping up big time.
Only going to get worse from here. I hope Hansen isn’t shaken too much by Ziller’s mean post on his big mean blog.
I’ve spent a few minutes myself on Sacramento message boards, and not posting of course. Damn, they are really in denial. But no matter how bleak it looks, you’ve got to try and convince yourself that it isn’t that bleak I guess. Lord knows, we’ve been there.
Muckleshoots, Retractable roof arena, Balmer $250mm offer, Schultz lawsuit. It was hopeless right from the start when the team was sold to Bennett.
It is what it is…
all these whale posts on sactown royalty are pretty funny. they seem to think the announcement of a couple billionaires will just automatically save the franchise.
we have the signed peice of paper. why are you guys so concered about what Sacramento is doing?
When there is an info gap, the internet seeks to fill it.
Because it is winter and we have no other sport at the moment to pay attention to.
Also, listening to the press conference and he is saying nothing. I hope he doesn’t do a press conference every day.
I will be completely perplexed if he holds this press conference and does not definitively identify his investors and their level of commitment.
Wow… nope. Not yet at least.
hahaha this is a joke! he just said there are more than 2 competing groups! COMPETING GROUPS!!!!
Brian, when he says “no one knows the deal structure in Seattle.. trying to figure that out…” is he talking about possible tortious interference concerns?
I tell you who DOES know - the NBA. They have the paperwork, Mr. Mayor.
Well consider yourself perplexed. Biggest waste of a press conference.
wow. Nothing. Absolutely nothing to report.
“I don’t have much to say today, any questions?” KJ
I am sorry, but the next press conference will be that they are giving up. Basically saying that there are multiple people and they have had discussions with lots of people and making progress. Won’t actually discuss the nature of the progress. I just think it is over if this is how it is going to be.
multiple ownership groups, multiple arena “ideas” (not plans). What a mess.
If the Stern-era NBA is known for one consistent theme it’s “process.” The NBA values ownership groups and cities who work with the NBA and go through the long arena-financing process. It would be unusual for the NBA to reject the Seattle offer for such an uncertain, last-second plan from Sactown.
But I suppose never say never. KJ is politically connected all the way to the top. So if anyone can get the NBA to buck their own precedent, it is he.
Hadn’t heard KJ discuss possibility of building arena *without* NBA team before. Interesting.
I don’t know what happened since yesterday but he sounds like he knows they lost. Setting up for the future.
They actually discussed this after the Maloofs backed out, then the city council shelved the funding. But they have suggested how they will work towards an arena without a tenant.
Now has said that they think an arena will work without a team and that is a sign that people are interested in the market. I just don’t get what he is talking about on the arena front here. Seems like they don’t really have a deal in place like is being reported but an idea of how they would like it to be.
KJ’s a typical politician - can’t give a straight answer.
He looks so tired… man, he’s definitely a warrior.
He’s talking about bidders. There is no bidding. The team is sold.
Now he is saying that the deepest pockets don’t end up as the deepest bidder. The sale already has happened! There is no bidding!
This isnt ebay
Here’s an interesting legal question: Say KJ convinces Larry Ellison to come in and offer $400 million for that 65% share, plus letting them have some control in the running of the team. Now, there is a binding sales contract in place but suppose, say, the Maloofs make it clear to the rest of the owners that they wouldn’t mind if the Hansen offer gets rejected, so they could sell to Ellison. The BoG, accordingly, rejects the sale and lets the Maloofs make a new deal with Ellison. Would the $30 million deposit mean that Hansen could then sue the Maloofs (as well as Ellison, the city, and the NBA, of course) for tortious interference?
Do you really believe that Ellison would buy in if the team had to stay in Sacramento? He wants a team in San Jose.
Those poor bastards, they are flailing in the water. I may be a selfish prick but I am glad I am not on that side this time.
Feel really bad for the fans that are buying all this. They dont know any better. Just keeping the faith.
Question, “KJ, who do you think the Sonics should draft? a PG or a big man?”
SG/SF is my choice…
“March 1 is when they would apply for… a sale.”
Um… that was done 3 days ago, KJ.
im not sure hes said “playing to win” enough.
Tired of the argument that no team has been sold where the fans have done everything and the city supported the team. I don’t see how that matters at all really.
It doesn’t. It is likely politics for the future.
God bless KJ. He tries.
Ill give it up to the Sacramento reporters. They are asking good questions. Unfortunately for them the answers are vague or “I dont know”.
but no one is asking “what good is an offer when the sale is already agreed upon?”
“fair and competitve” = LESS. no deal.
intimating an offer of lesser value will be favorable to the owners.
This is hard to listen to. He keeps talking about presenting an offer and saying the Maloofs will want to hear all offers before they agree to a deal. How does he not know that the deal has already been agreed to?
It is done, saying the “whales” are trying to understand the economics of it. Actually has a call with Stern tomorrow.
I kind of hope Stern tells him to give it up.
Stern doesn’t want to appear like he is allowing the move without giving Satco their due. He won’t say much until it is done.
“My goal is to reel in the whales by as early as next week “hopefully.” As early as Monday and as late as Sunday.”
You mean harpoon them
I want a mayor who ends a press conference with, “I gotta roll.”
Yeah that was pretty funny
maybe he thought he just set a pick for the Maloof
Did it remind anyone else of the “Making the Band” skit from Chapelle’s Show? I kept waiting for one of his bodyguards to give him a piggyback ride out or something.
So as of yesterday he hoped to announce his “whale” by the end of the week. There are a couple of things I heard him say here that would scare the crap out of me: 1) I hope to be able to announce investors NEXT WEEK. 2) We are back to considering multiple arena sites 3) Investors are indicating that a downtown arena makes sense WHETHER THERE IS A TEAM OR NOT 4) The highest bidder does not always win.
That was a setback. I am completely perplexed. Major momentum loss in last 48 hours.
Maybe positioning to build an arena to lure next relocation? He kept hammering “this is an NBA market.” Like he’s trying to remind the national media that Sacto isn’t a cow town, and they should be at front of line?
I dunno, just thinking aloud.
Any minute now old Bruski will put out a piece on ProBasketballTalk calling today’s presser a “game-changer that ensures the Kings stay in Sacramento!!”
Well, it sounds like it.
He just held a press conference saying absolutely nothing.
I’m not sure why he did do this one…
Yeah. He didnt just take a step back today. He turned around and ran.
I gotta roll (KJ voice)
“Major momentum loss in last 48 hours.”..never knew there ever was any. This seemed like another North Korean “delayed” rocket launch.
1) How is the arena plan done, if they still considering multiple arena sites?
2. Why mention that a downtown arena makes whatever there is a team or not. Is he looking for a expansion team if the BOG agrees with the deal?
How likely do you all think that on his call with the Commissioner tomorrow, Stern will say “Kevin, you don’t need to update me any more… I very much respect all that you are doing, but its over. It’s time to give this up…”
“you have a city to run, go do it.”
Unlikely.
I don’t know… really seems more likely than not. If that doesn’t happen, I’d actually be a little concerned from our side.
Stern is going to extract his pound of flesh from Sacramento and move on.
I don’t think Stern will, at least officially.
Though, KJ talking about a downtown arena making sense with or without a team, I think he might very well try to position SAC for a future team.
“Kevin, you know and I know it. The wheel has turned and it is time, it is time for this to end.”
I thought you were going to end the phrase with “Vader Time”
hey guys, I want to buy my neighbor’s car he already agreed to sell it to an out of towner for 5250. But im playing to win and ill make a fair and competitive offer around 4000 because I feel the car has always been a part of this neighborhood and would hate for it to leave. Im currently talking to friends and family to help me reach $4000. He has to sell it to me right, im his neighbor why would he do such a thing by selling to outsiders for an outrageous price.
if he wants any chance of success he needs to replace “fair and competitive” with “blow them out of the water”
I almost got the impression that KJ was simultaneously pushing the “it’s not over” manta and walking back expectations.
It will be interesting what he will talk about with Stern. I hope he can stop this nonsense.
The real question is who actually owns the team at this point? If the Maloofs still control the club there is always the (albeit slim) chance that if the money is right they could sell local and slink off into the shadows without being a national pariah.
What I am saying is don’t get overconfident. It’s unflattering.
They have a legally binding agreement with Hansen’s group. They can’t back out.
Stern will just pat him on the head and say, “That’s good KJ, very nice KJ, have a nice day.”
I’m honestly concerned that KJ is unaware there is a finalized deal at the NBA offices.
he should be aware NBA had a press comment about it.
You’d think. But all his talk about bidding and putting in offers, it sure didn’t sound like he knew.
He probably thinks that 30m downpayment is non sense too
Maybe KJ can’t find a whale. But here is a sea lion that is available from up north…
http://www.timescolonist.com/photo-1-600-pound-sea-lion-washes-up-on-nanaimo-shore-1.54656
KJ keeps saying he was looking for 3 to 5 people to chip in $1 million a piece. Imagine if THAT had been his press conference!
That’s what I hope happens. we get kings, SAC gets next relocation if they get their act together. That model worked for us, it may just work for them. But I agree, if they are talking about an arena there without a tenant, it’s over for them.
It wouldnt be a day without Peter mentioning “relocation”
Expansion?
From a message board on the Bee
“34 years of accounting and M&A mergers. Real “whales” like Burkle, Hansen, Ballmer never do business this way.”
It doesn’t sound like I missed anything by not watching the press conference.
What really stinks is the NBA created this with two acts stubborness overcoming logic.
Had logic been followed from the beginning, the Hornets would be in OKC, the Sonics would still be in Seattle, the Maloofs would have no leverage of any kind, and a Sacramento ownership group would have a much better chance of keeping the Kings in town right now.
If logic would’ve been followed the second time, the NBA would’ve been open to waiting one year before settling the Hornets situation and Hansen could’ve moved them to Seattle from a city without a consistent history of supporting its team.
I think the Hornets should still be in Charlotte (although I guess the name may be coming back soon) and the Grizzlies in Vancouver.
But I agree with your larger point. And if a team moves from somewhere else to Sacramento in a few years, it’ll really make the NBA seem fly-by-night.
Amen !! Why didn’t they just consult us - — we could’ve had this all properly settled long ago.
But we are where we are. It is what it is. And other meaningless truisms.
This reminds me when the Atlanta Thrashers was sold to Winnipeg. Atlanta, believe it or not had local owners that wanted to buy the Thrashers.
Korboko different situation completely. The thrashers essentially were evicted from the arena by the basketball team if i remember correctly.
“People of Sacramento! You may be wondering why I called this press conference …. I just saved a ton of money on my car insurance by switching to Geico!”
LOL
So if the roles were reversed and the Maloofs sell to a Sacramento buyer would Hansen ever say “Wait, Steve and I can offer more money, we have a bigger market, hear us out at the BOG even though you have a binding agreement w Burkle McWhale??
or Mayor Mcginn holding pressers
understand and appreciate KJ’s effort but I don’t see the NBA nixing this
It looks like the system is just weeding out bad owners. Shinn, Schultz, now Maloof. Fans are getting the hard rigid and veiny shaft but the league is actually better off.
Ever descriptive.
My theory is Stern telling KJ that ONLY chance sacto has to get an expansion team is to get a billionaire ownership group and arena “plan” in place ASAP and utilize the sympathetic press coverage of sactown’s plight (and KJ’s political connections) to almost force an expansion promise out of the BOG in return for graciously laying down their swords in the Seattle-sacto battle.
Even Grant Napear floating the expansion-to-Sacramento theory after pushing the Seattle-expansion theory the last couple weeks. Not to mention KJ talking about building an arena even if Kings leave. Seems to me KJ knows the nba can’t decide who the Maloofs sell to, but his Hail Mary is really about expansion…
I still wonder whether expansion is an option at all. The ironic thing is that I don’t think it is an option at all for Seattle in the next five years. If it’s an option for the Kings, it’s because Hansen will have forced the NBA’s hand. If expansion is available for Sacramento (which I really hope it is), it will be because the NBA won’t want another relocation black eye.
There seems to be too many issues with teams in the league right now for expansion.
See my post below, but I think Hansen’s offer/valuation is so high because he knows expansion IS NOT a possibility.
Seattle is a (black eye) market that leaves a gaping hole on NBA, but honestly, and a total dick comment, but if Kings are to leave Sac, while it would totally devastate that city’s fans, I think in 5 years, the league would not feel the wound outside of NorCal. Similar to how the league does not feel a wound from leaving KC to Sac.
Sac works because it is there, but don’t know if its a city in a vacuum, that the NBA would be looking at if the Kings didn’t move there in the 80′s.
That’s why KJ kept on saying “this is an NBA market”… if no Kings, then that may be quickly forgotten.
Again, not trying to pile on Sacramento, and they very well may save their team, but just looking at a more global view of the sitch.
Expansion is not happening guys.
You will see an NBA team on the Moon before you see an expansion team in Sacramento, or anywhere else.
Total speculation on my part, but I really do believe (just seeing the care and precision that Hansen operates) that the 77 million IS NOT part of the $525M valuation. Nor is the relocation fee. The valuation is a blow your socks off offer to: wrangle the Maloofs, show the NBA we are more than serious, and reflects the unique situation of the Kings (that they are without lease).
100% agree.
Nobody says “well, I value this franchise at $448 million….wait..what? They OWE an additional $77 million, then wow, that raises the worth of this thing up to 525.”
I don’t think a debt would increase a valuation. Paying off a debt could be part of an increased sales price, but not a valuation of a franchise.
Agree. Sounds like the $77M loan is between the new team owners and the city and the $30M relocation fee is between the relocating owners (H-B) and the NBA. In other words, these amounts are not between the new owners and the Maloof’s and are unlikely reflected in the H-B/Maloof purchase and sale agreement.
Also- the league sets relocation fee. So $30M is just estimate. Maybe Clay makes good and sets fee to $0. Perhaps because Seattle has lost a team, not a brand new NBA city fee is at $0… regardless, it’ll be interesting to see what that number really is.
Maybe one of them….is a wizard
If expansion was an option for Sacramento it would make no sense for the league to not offer it to Seattle instead and then not worry about the potential issue of moving a second franchise.
This should be your best evidence that expansion isn’t happening any time soon.
I really don’t understand why people keep bringing expansion up. It makes zero sense from anyone’s perspective.
Because the word keeps coming up in Sacramento. Carmichael Dave even tweeted today that if the city were offered expansion in 2 years he would take that deal right now.
I don’t think it’s going to happen, but the issue is still there.
Of course he would. Sadly there’s really no choice is there? Every time I hear someone broach the topic of expansion they might as well be talking about pretty pink unicorns. It’s the same thing right now.
Will they have sparkles?
Exactly…what a shock he’d take a team when his most likely scenario is no team
I’ll bet that expansion keeps coming up, because KJ has dialed in this statement as his best ‘talking point.’ He loves to say “I think Seattle should get a team (looks sympathetic to nation’s view of the well publicized Seattle-hose job), just not ours (seems reasonable, implying expansion is best option).’
KJ can talk about it all he wants. Until he or anyone else thinks they can convince 32 NBA owners that dividing the revenue pie into smaller slices in order to put more teams into shaky markets is a good idea, it’s not happening.
32? When did NBA expand?
Actually, after the new CBO, it is quite possible the league will be expanding soon (as in a couple of years from now). In fact, before the Kings purchase came down, I heard a number of reporters and NBA-watchers concur that, with the labor situation settled, the league will be looking at expansion sooner rather than later.
I believe i heard/read that spitting the pie 31 times will negate the expansion fee that the league would get so essentially they wouldn’t be making money by expanding.
As I point out below, I’ve heard otherwise (whether correctly or not, I can’t say). Keep in mind that intelligently-chosen expansion eould lead to a larger amount of revenue to share, so it isn’t just a matter of dividing up the same poe into smaller slices Also, if they’re going to expand, it will be to 32 teams, as adding just one team would be a logistical nightmare, as we’ve already seen in MLS.
By “soon” you would be talking 5 years from now, or more.
The 30 owners do not want to take a smaller slice of the revenue pie, and that is what expansion means.
No, by “soon,” I’m talking about two years. This came, as I noted, from radio and print citations of people in a better position to know than either of us. Now, those people might be wrong in their estimation, but don’t try telling me what I “really mean” when I mean no such thing
Well, no, that was from people repeating twitter comments.
Would you like 1/30th of basketball related income, or 1/32nd?
That the question you ask the other owners when you talk about expanding.
The markets you expand to must produce a net positive to the BRI.
David Stern himself has commented that expansion is not going to happen in the near term.
Until the current CBA is completely implemented and the league has experienced what the limited profit sharing really looks like, they are not diluting the pool with more owners. That’s beyond 2015.
Until the unstable teams like the Bucks have an arena plan, one way or another, the league is not going to expand.
You will see 3 teams figure things out before a serious discussion of expanding happens. That’s not likely going to be settled within the 2 year twitter wishing suggests.
Forgive me for giving you the impression that I was putting words in your mouth. That wasn’t my intention. What I meant to do is tell you that you are flat fucking wrong.
In other news, it looks like New Orleans is officially changing to the Pelicans for next season.
Hopefully the Bobcats change to the Hornets again!
Sonics plus the Charlotte Hornets back in the NBA would be amazing!
Their mascot will dress up as underwear and will be called The Pelican Briefs.
Budump-pum!
And less likely to move down the road probably. Maybe
I notice that a lot of people are hanging hats on the “legally binding” agreement between Hansen and the Maloofs. Have these papers been made public?
Folks are talking about that agreement with bulletproof confidence…like they’ve read the agreement or something.
Only Hansen’s group, maloofs and the NBA has seen the document.
Haven’t been made public, I’ll let the first paragraph of Hansen’s public statement from sonicsarena.com speak for itself…
We are happy to announce that we have entered into a binding agreement with the Maloofs to purchase a controlling interest in the Sacramento Kings NBA franchise. The sale is obviously subject to approval by the NBA Board of Governors, and we look forward to working with the League in the coming months to consummate the transaction.
I’m pretty confident a guy like Hansen isn’t going to release a public statement that isn’t true.
If that’s not enough, there’s this from the NBA’s statement…
The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen. The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board’s committee process for review.
So yes. It’s an “executed purchase and sale agreement”, which is binding between the parties.
Executed is the past tense.
That’s why I’m moving forward.
Many sacto fans believe it is not a binding agreement
It was submitted to the league. It includes 30 million paid in advance. It includes all sorts of details for the league to go over.
We call it binding because it is a signed deal. I don’t think any of us are contract lawyers but I do know you typically can’t back out of an agreement without some consequence (whether the consequence is part of contract law or specifically stated in the agreement).
leBleede, Chris Hansen himself told us it was a “binding” agreement. We are only going on what he says…..
http://www.sonicsarena.com
Hey it’s all good.
Guess I’m just feeling pessimistic today. Thanks all.
What will be the main fan site once a team is in Seattle? This one? Any chance of a sweet mobile app?! lol
there will probably be a sbnation site at some point once the sale/reloc is approved.
Cool. I know nothing about app development, in way there’d be an app?
No idea.
i guarantee you there will be a SONICS app.
I would like a fan forum for the sonics
A lot has changed in 5 years. I think you can almost guarantee an official FB page, twitter, and a mobile app.
Man i wish i could overhear the kj/stern phone call
I think they should approve the sale before the move. maybe over all-star break. then the vote would be a formality. the BOG meeting in April would be a lot less messy, hopefully.
Can’t they just have a google hangout and be done with it?
Gotomeeting.com
As soon as Stern speaks on this, we should know how this is gonna go down. BOG will do whatever Stern wants.
The BOG really has no reason to do what Stern wants. The BOG is going to do what is in their best interest. Which is going with the already signed agreement and not getting involved any further.
Has any of the owners come out to Sacramento’s defense? I haven’t seen any reports that they have.
Rambisfan posted this a little ways up the page:
‘From a message board on the Bee
“34 years of accounting and M&A mergers. Real “whales” like Burkle, Hansen, Ballmer never do business this way.”’
This is just so true. There’s a reason why the Hansen deal seemed to come out of thin air to Sacramento folk. It’s the same reason everyone was taken completely off guard with the announcement that Disney had purchased Star Wars. Literally nobody saw that coming when it happened a couple of months back.
Why? Because billionaire businessmen didn’t get to where they are in their lives by winning press conferences and doing their business in public like the mayor of Sacramento is currently attempting.
Very good point.
Geez, I wish Stern/NBA would put an end to this circus — - for both Sac & Sea fans. I’m sure the Kings players and staff would also like this settled.
I listened to KJ conference today and then Grant Napers show afterward. It seem that something changed in the last 24 hours and they are a little more apprehensive about the King Staying. Part of the problem is they really don’t no the details of Hansens deal. Also I think they realize they are running out of time to put a proposal together. Like stated above these deals are complex and no matter how much money you have you need to make a return.
If KJ is trying to rally the troops, today’s press conference was a big mistake. The board I just looked at had a very melancholy tone to it. They sense KJ is starting to back down and prep for a future return, which they don’t think would ever happen.
I’m loving how active our boards become lately. While the topic of what we’ve been discussing has been…you guessed it…a bit of a roller coaster with ups and downs, it’s still been fun catching up on all the comments after a long day at work.
And another press conference from KJ? Unless he’s ready to name his big whales, I don’t get the point. Like someone else posted earlier, I’m dying to hear he phone call between KJ and Stern.
Yeah, I’m probably a bit obsessed — - when I get home from work, can’t wait to catch up on the boards. Hopefully, we will be having a celebration get-together soon.
KJ’s press conferences are embarassing. Gotta admire him for his effort. I so hope Stern advises him that the buzzer has sounded. Go ahead KJ - get your ducks in a row for the next team for sale. Saddest part is - I just don’t think Sac will get another team.
Grant Napier kept salivating over The Chris Daniels Oct article R/t expansion today on his show. (For Seattle Of course)
http://www.king5.com/news/arena/Stern-doesnt-know-where-Seattle-NBA-team-would-come-from-175831571.html
The way I see it now, if Sacramento steps up with an offer then Stern is going to have to force expansion for Seattle onto the owners for next season. If Sac wins and Seattle is left with no team he would create the worst nightmare of his legacy. No way he will go out like that.
Until the Bucks have an arena there isn’t a point in expanding.
People need to just stop pretending that 29 other teams are all set for the future.
An offer means jack. The team has been sold. You can’t put in a bid after someone has clicked buy it now.
Someone on the Kingsfans forum just said the agreement can’t be binding until a 3rd party approves it. Anyone want to explain this one? I thought it was binding because the Maloofs and Hansen have signed an agreement?
The league has to approve it. But it’s still binding
Neither party can back out unless it is rejected.
This is what I thought, just wanted to double check. I don’t know where Sac fans are getting their info.
Chris wouldn’t publicly state the sale was binding if it wasn’t true…he’s been 100% honest every step of the way, when he’s willing to divulge info.
Sounds like theyre desperate and grasping for straws. They also gotta realize that this sale was looked over by the league before it was singned and turned in, do you think the old lawyer stern missed the little poison pill down payment in there? I dont. I wonder howmuch the league is influencing it. My guess would be quit a bit…..
FYI, Jenn, if you’re interested in Sactown forums, you should be reading sactownroyalty.com instead of Kingsfans.com. Sactown Royalty has about 100 times as much activity.
Yeah, I normally do on the computer. I’m on my iPad now and STR doesn’t load it’s comments section for whatever reason.
Expand and fill the holes and the Bucks, Pacers, Bobcats, Timberwolves, etc, lose leverage in negotiating near term and up and coming negotiations. They lose value as well.
Baker, as always - — of course you are right.
Still trying to figure how the league is going to get out of this with the least amount of PR damage. KJ/Sac will need to gracefully come up short, back off and plan for the next team sale. Stern will not want to be put in the position of turning KJ/Sac away if they came a competitive offer. Not approving/rejecting Sea to accept a Sac bid would also be huge PR nightmare and an expensive legal mess.
Chris Daniels @ChrisDaniels5
Sacramento Mayor Kevin Johnson is at tonight’s Kings game. 1st game since team was sold to Seattle group: http://ow.ly/i/1pJ2F
I’m watching the Kings vs Suns game right now. Sleep Train arena looks about half empty and the crowd hasn’t really been into the game at all so far.
Is the lady with the “Seattle: NO NFC Title NO Kings” there??
Haven’t seen her yet lol.
If the Kings move here in the fall and the Seahawks also make it to the Super Bowl, I’m going to find that woman and put an opposing sign outside her house.
Because I am that petty.
New thread is up.
This one was getting long.