read it here.
The Maloofs are expected to keep an extremely small percentage of the team, but will have no real input or say in the franchise, sources said.
Once the sale is completed, the Seattle-based group will have until March to file for relocation. NBA commissioner David Stern has been a big proponent of the Hansen-Ballmer group, and league officials will work diligently to help the franchise move to Seattle if the sale is finalized, sources said. The Seattle-based group is determined to not have the franchise spend a final lame-duck season in Sacramento.
Offer rejected? Just heard a tweet on Furness show. I will try to find it.
“@largesteven: Source: SEA groups offer was rejected by Maloofs. Hmmm. Plot thickening by the minute.”
steve large from cbs 13 in Sac. working on confirming if it is a real handle or a fake one just to troll.
This is crazy.
CBS Sacramento says Mayor may take Kings questions at press conference. Probably just speculation since he will be asked, but interesting that is in their little banner
Went to the Sacramento CBS news website and saw no reports of anything being rejected.
That is McGinn btw
SO assume that tweet is a joke until future notice?
It is his handle, but it just says source. I will assume it is an ESPN reaction rather than legitimate at this point.
At this point yeah. If the NBA’s official website is reporting the sale, I’d lean towards this is really happening.
Well that would make sense. Just as everyone was getting their hopes up. I really don’t want to hear the *sad trombone noise*
Encouraging and exciting news. I’m sure it’s all accurate. But that doesn’t change a thing regarding the Maloofs being flaky as hell. Won’t celebrate until something is official. Given their history, those dudes could back out at the 11th hour. Remember they were celebrating with KJ at midcourt in Sac at the all-star break last year.
Keep in mind everyone, a lot of reporters want to be first to report. Tweeting and retweeting anything and everything is the new trend. One of us could tweet that a race of green orcs from Neptune have purchased the Kings to keep them in Sac Town and a dozen people will retweet it. But once a legitimate name retweets it just to say they were the first, it goes viral that green orcs from Neptune bought the Kings….LOL. And it’s real easy for a reporter to back out of a mistweet.
Seattle Sportsnet @alexSSN
Looks like Hansen and the Maloofs are gonna go back and forth a bit, official announcement per @SoftyKJR could be coming by end-of-month.
Well assuming that things go as we hope. What can we salvage from the team besides maybe IT, Cousins and Jeffries? The whole coaching staff and front office will likely need to be pruged and cleaned with fire.
End of the month? Weird, seemed like things were moving so fast.
mitch levy @kjrmitch
This report is BS. RT @bcondotta: A Sacramento TV station reporting Maloofs rejected the Seattle deal
A twitter response on the end of the month till announcement via mike_gus24
@Softykjr @DavisHsuSeattle End of month give KJ and local buys a long time to come up with a hail mary… This is slipping away.
So he claims its gonna slip away cause of the extra month this provides KJ and local buyers.
Jeffries?
Oh good now that is out of the way.
I could have the wrong guy, my attention to the league has been……hazy at best.
Yeah I say be patient. Can’t imagine NBA.com will let the news out on their site unless it was a done deal! I think it is a done deal and they are scrambling because they wanted to wait longer to let the news out but now they have to move quick.
If you mean Jared Jeffries, he plays for Portland.
Maaaybe…someone f*cked up and let something slip before it should? It would destroy attendance in Sac for the rest of the year.
So the VB smokescreen was used to up the Seattle offer and now the Seattle offer will be used to get a match from Sac town?
Pawn play at it’s finest.
This doesn’t matter a whole lot, but I want to give credit where credit is due. There is a guy named Jeff Brennan on Twitter who had this info way before yahoo sports or that sports food babe. He is the one who told me things privately in a previous thread that convinced me we were at or near this point. Check out the following tweets from JANUARY 1.
Jeff Brennan@jay_eee_eff_eff
@ChrisEgan5 a HUGE sports story will drop this coming week. Can’t tell you what, but remember this tweet.
1 JanDave Softy Mahler@Softykjr
@jay_eee_eff_eff @ChrisEgan5 Sonics!
Jeff Brennan@jay_eee_eff_eff
@Softykjr @chrisegan5 shhhhhhhh!
Dave Softy Mahler@Softykjr
@jay_eee_eff_eff @ChrisEgan5 just be ready..
JanJeff Brennan@jay_eee_eff_eff
@Softykjr @chrisegan5 I know, I know. I can’t wait. I’ve been dying to tell ppl.
Chris Egan King-5 TV@ChrisEgan5
@jay_eee_eff_eff @Softykjr What a week Fiscal Cliff over and now your telling me the Sonic news is coming! Whats next, more Star Wars movies
via @BeastQuake
@Softykjr @kjrmitch @bcondotta keep in mind Sacramento area sources want to delay a sale confirmation as tickets there remain to be sold
Need to blow up the team completely. Trade Cousins to Boston. Find someone to take Jimmer (Utah?). Let Tyreke walk.
Props to you Mr. Brennan.
which would make sense the suppose claim that the maloofs rejected the offer.
I think that’s exactly what’s happening.
I would think that Hansen would also like to sell tickets in Sacramento this season too.
If there were actually legit local interest wanting to buy the team then why haven’t they came out publicly.
So I’m seeing some rumors out there floating around that a Sac group has offered up to $600M to keep the Kings in Sacramento. Potentially backed by Larry Ellison.
Don’t know the truth to that, but the way this deal just died I wouldn’t be completely shocked.
Sometimes this rollercoaster ride blows.
^ This.
My guess is all that’s left is to get Hansen/Ballmer to pay as much of the reimbursement costs to Sac and the NBA as they can.
They still need an arena which they do not have. Their 10 year window is up.
Once again
mitch levy @kjrmitch
This report is BS. RT @bcondotta: A Sacramento TV station reporting Maloofs rejected the Seattle deal
How did the deal just DIED?
Chris Daniels @ChrisDaniels5
NBA to Seattle? We will air a @KING5 Special Report on the subject tonight from 7:30-8 on @KING5Seattle #SeattleArena
One could’ve asked the same thing back when the Sonics were sold. Difference is, Howie didn’t give Seattle the chance to match.
Sacramento reporter that doesn’t want to be affiliated with report of rejection.
Sam Amick @sam_amick
@Aykis16 Can you please take my name off the story about the reported rejected offer from Steve Large, Akis?
I believe Mitch. He knows some people and if he says the story about the Maloofs rejecting our offer is BS, I’ll trust it. He’s been right almost every time with the info he’s given.
Already got it DVR’d! lol
If that report were true, the club would either have already been sold already or more progress would have moved further on the Sac arena talks.
Ellison wants (and has always wanted) a team in the San Jose/Bay Area, not Sac.
which probably means its bogus.
Ian Furness @IanKJR
Everyone taking to their #NBA sources today.. me too. Lots of info out there points to the same thing. The reports from @WojYahooNBA r true
Which won’t happen with Warriors moving to SF once the SF arena is done.
It’s not dead
http://www.sbnation.com/nba/2013/1/9/3857168/kings-sale-seattle-finalization
exactly
That’s what I was thinking too. Being I’ve seen other reporters and people like Mitch Levy questioning the authenticity of Steve Large’s report.
^ That.
Ian Furness @IanKJR
from one former #kings and longtime #NBA Exec “$500 mil asking price is right on.” also Mayor is working right now to get local group deal.
Oh good god this is gonna be a long month. GIVE UP KJ you lost.
reeks of desperation.
“Local owners offering one million bajillion dollars and free hamburgers!”
Great link Taylor Made its pretty much what Softy said earlier
If it’s already this far along (as in weeks, if not months of meeting), not sure how anyone could come along this late in the game and change anything.
and our favorite idoit lawyer is speaking out.
Peter Goldman, attorney for ILWU, on possible Kings deal: “It doesn’t affect (our case” at all.” Lawsuit scheduled to be heard on Feb 22nd.
Chris Daniels @ChrisDaniels5
Goldman says franchise deal has no effect. “This is about where this team is going to go.” ILWU still suing to attempt to block construction
Umm yes it does. Why would Hansen be trying to purchase a team if there was ISSUES if the actually arena getting built.
Agreed. The idea of Ellison buying to keep in Sac doesnt make any sense
the Warriors’ SF arena actually looks pretty sweet.
206 Hoops @206Hoops
Magoofs are holding out, demanding Hansen include Space Needle in the deal so they can move it to Vegas… Twitter is full of crazy rumors.
close enough
http://www.youtube.com/watch?v=IJ_R-G_i4Xk
KJ knew this was coming. My guess would be he has been trying to put a group together for a long time. Him saying he’s trying now is more political than reality.
LOL sorry but i have to laugh.
Does anyone know how to create an avatar for this site?
I’m not too worried about KJ and or any local group. If there was a local group interested the Maloofs would have already met with them. This seems like a last ditch effort. Especially being its heavily rumored that we could get confirmation by the end of the month and we have Stern/NBA on our side.
Its Ok to laugh it pretty much sums up all the out there rumors I’ve read on Twitter today.
Just more posturing by Goldman
This is eerily similar to Ballmer’s “white knight” effort.
Chris Daniels @ChrisDaniels5
View from Sacramento… RT @dakasler: Our latest: Source says #NBAKings are talking with Seattle, but no sale deal yet http://sacb.ee/XkjTzc
Now that link I get the impression that the Maloofs are in Sacramento damage control, that’s just my take on it.
I question the rumor that a local group will offer 600m to keep the team there. Why would anyone be offering that much to keep team there when in fact that there is still the arena issue to deal with.
Well I would assume they would also sign the same deal the Magoofs turned down earlier.
Think they put GP in the rafters at the Key or wait until the new arena opens?
This is kind of out there too;
“Ric Bucher
about an hour ago
What I know about the Kings-to-Seattle story at this point: sources say the Maloofs are getting back into the
liquor business and the only way for them to do that is to sell the Kings, their last asset of any worth. The Maloofs, of course, had beverage distributorships in Colorado and New Mexico but sold them to try — futilely — to keep their Las Vegas hotel casino, The Palms, afloat. Separate sources say that putting a team back in Seattle is at the top of David Stern’s bucket list as NBA commissioner and, as we know, David invariably gets what he wants. The Maloofs reversed field once before, on a deal that would’ve kept the team in Sacramento, but sources say the terms of that deal were negotiated by Stern and that the Maloofs backed out because the terms weren’t the ones they specified they had to have. ” That was linked to by Chris Daniels
Chris Daniels @ChrisDaniels5
Longtime NBA Beat Writer @ricbucher says this about Kings-to-#Seattle..it’s all about liquor?: http://ow.ly/gGfCs
I think you do it day 1.
I can’t wait that long. I say do it opening night.
Chris Daniels @ChrisDaniels5
The great @sam_amick reports #NBA owners have been warned not to talk about #Sacramento situation: http://m.usatoday.com/article/news/1820851 …
Day 1. No question about it.
Some might say that the way they’ve run their franchise the last several years was all about liquor.
Hey all- I know we are all freaking out (with good reason), but remember, we have the one ace in the hole in this whole thing: Chris Hansen. Dude is so organized, meticulous and most importantly, committed. He is close, and I have full faith he won’t come up short.
For those of you saying Sacramento doesn’t have an arena plan,
“On the night of March 6, 2012, the Sacramento City Council passed a deal — brokered by the NBA and with the blessing of commissioner David Stern — for a new downtown arena. A sea of supporters packed the grounds for the vote, which seemingly saved the Kings from relocation.”
http://espn.go.com/nba/story/_/id/8829258/seattle-investor-chris-hansen-seeking-buy-sacramento-kings-according-report
Jessamyn McIntyre @JessamynESPN
Ric Bucher on #Kings to #Seattle:” There’s a momentum there that’s pretty hard to put the brakes on.” Interview at 3:10 on @710ESPNSeattle
I don’t know how reliable this one is but its interesting none the less
Joe Doyle @WSUJoeDoyle
Source: Isaiah Thomas has said the team was told after practice today the selling of the team was true. Thomas: “Deal is done.” #Sonics
Have I said lately that I love you guys?
I was starting to put together a blog on how to make the Kings competitive in three seasons.
Spoiler: Only one hold over player remains on the roster after next season.
is it IT?
This site uses
https://en.gravatar.com/
Remember to “rate” your Gravitar “G”.
That would be my guess.
fow what it’s worth the “report” disclaimer is still up on the front page of nba.com
*report that the sale is taking place
If this isn’t a day to listen to the Kevin Calabro show I don’t know what is. I think they just said he would be checking in at 3:30.
That agreement was with the maloofs thought. I would think they would have to approve again it with the suppose new local group.
Kevin Johnson@KJ_MayorJohnson
meeting with the press to respond to #SacKings news…3:30PM @ city hall #keepthefaith
bleh kinda wish he would give it up. They had their chance.
Jerry Brewer @JerryBrewer
RT @bcondotta: Sacramento mayor Kevin Johnson just Tweeted he is holding a press conference at 3:30 p.m.
I agree with soundersfan84 and Paul beat me with his Ninja posting skills again lol
We executed Nickels for giving up. Don’t forget what that feels like.
Sounds like to me that there is nothing KJ to do to try to stop this from happening.
As much as I want the Sonics back, I can’t hate on KJ fighting for his city. Nor should any Seattle fans. We were all upset that Schultz made his deal with Bennett without giving local buyers a shot first. That’s all KJ and Sacramento are asking. Who knows if he’s successful. But it’s what I’d want if I were a fan. Can’t begrudge them that.
Yuuup. He has a duty not to quit until there is nothing left. I don’t blame them for the fight, hell we took Bennett to court.
true enough leBleede
IeBleede different situation. Kings had YEARS to figure out an arena solution and get a local group to try to buy the team to keep them there.
word
i mean the city had a chance to come up with a backup plan and try to get a local group going after the the arena deal with the maloofs died.
I can under stand and give them props for trying but i think its little to late though. They had plenty of time to get a group going to try to buy the team to keep them local.
710 ESPN Seattle @710ESPNSeattle
Bucher on potential sale of #Kings: “I can’t see a stumbling block from the owners or David Stern’s standpoint.” http://mynw.me/jP4Mub
Im reading through old posts at Sonicscentral
Man, we’ve been at this for a long time. What a roller coaster ride!
I was thinking Thomas Robinson.
21 days of waiting is going to be hard to deal with.
Much harder for those in Sacramento than for us. I hope more for Sac fans that an answer comes shortly.
I don’t know if I believe that, both Isaiah and Aaron brooks were made unavailable to the media after Kings practice today. Haven’t seen anything from IT on twitter either
indeed. Its makes hard to due to the unknown rather or not it happens or not.
Sam Amick @sam_amick
Updated Sacramento-Seattle story at @USATODAYsports: Hansen-Ballmer group confident the deal will eventually get done - http://www.usatoday.com/story/sports/nba/kings/2013/01/09/sacramento-kings-maloofs-seattle/1820851/ …
Forgot about him. So two and IT was the other haha.
With the idea of bringing in Jennings or Vasquez to start at PG.
Let Sacramento try and figure things out. If they are able to find a local buyer then good for them…I would have appreciated the same respect when Howie sold the team
Must be a wave of emotion for Brian Robinson! It’s been a long journey for him. My hats off to him! Still not there yet!
I feel that Sacramento had plenty of time to figure things out much longer than what we had imo. if they stay then great.
I would hate having to go through all this only to find out that BAM not gonna happen in which kings get sold locally which then we would wait who knows how long that’s just how i feel.
Unfortunately i kinda wish things like this would be kept quiet from the media to avoid being disappointed.
the usa today article now states that they think it will get done “eventually.” the longer that is the case, it might give others the opportunity to break up the sale
http://livewire.kcra.com/Event/Report_Kings_owners_selling_team_to_Seattle_group?Page=1
That’s just their opinion. But if the momentum is positive it will be hard to stop.
So KJ is gonna ATTEMPT to find a local buying to keep the team here. Why wait so long to start a process of trying to find a local group and buyers even if the maloofs had no intentions to sell. Better be prepared for when the maloofs put the team up for sale.
Sounds like they want and try to find a local buyer to keep the team in Sacramento. It would be awesome if Seattle can get a team and Sacramento can keep theirs. But if the Kings do relocate I will understand and will be happy for the NBA to be back in Seattle.
yeah, it doesn’t sound like that local buyer is in place, as rumored earlier.
I disagree i don’t think its cheaper to keep the team there. Cause what ever the suppose local group has to beet the suppose 500m offer by hansen groups.
It’s a really sticky situation.
I think KJ has really blown his chances.
We’ll have to agree to disagree. This isn’t about what the Kings or the city SHOULD HAVE done. It’s about what Sacramento fans deserve…and since those wrongs can’t be righted at this point, they deserve to have a mayor go to the wall for them. Just like we deserved that from Nickels.
Dead line march first? He is out of the loop. Thats the deadline for relocation of said team. Deadline to actually get a group and buy the team to keep them there is really end of month.
I just don’t get why it is a mayor responsibility to find buyers. I just never did. I can see the negotiation of arena deals and whatnot, but does KJ know a ton of billionaires that even would get together to buy a team? Just seems like wishful thinking and grandstanding at this point.
He had plently of chances to try to get a local group going but waited too long to do that. Do not assume that just cause a team isn’t up for sale publicly doesn’t mean that they aren’t.
The real deadline is probably within a week. There is a lot of legal review that would go into a huge sale like this that would take a while to get completed. Not to mention how they would get an arena funded since the parking deal and NBA money is probably gone at this point. Mr. Hansen’s group would probably like to have things agreed upon by next week I would guess so that they can present their relocation case to the BOG.
As a fan that has been in the situation I am cool with giving them as much time as possible until the owners want to sell. If it doesn’t happen (meaning they find an owner) then good for them.
Indeed.
Like i said little to late.
No disrespect intended at all, sounders. But were living in Seattle when the Sonics left? Rumors of an angel swooping in to save the team is EXACTLY what happened with the rumors of Steve Ballmer swooping in to save the Supes. These situations are so similar.
To the helpless fans getting dangled by their aortas from billionaires, it might as well be identical. Empathy, my man. Empathy.
If KJ finds local buyers why would the NBA get involved in providing funds to the arena if there is a new local buyer?
Komo just had a Sac reporter named Nic Montacelli on with Mary Nam and he said KJ essentially has a group “waiting in the wings, ready to match any offer Hansen has.”
He also said the deal isn’t as close as it appears, saying his sources tell him an offer hasnt’t even been made yet.
Perhaps Satco was caught off guard about it and is now scrambling to find someone local before this is all official. Or maybe the whole thing is being fabricated by a maaagical unicorn..as if there are any other kinds of unicorn.
I’ll remind everyone that the Schultz owned Sonics were never officially “For Sale”
non taken i just think he waited too long to start trying to get a local group going. Imo if i was sac mayor i would have a group ready for the exact moment of when the team goes up for sale. Not wait till after it goes up for sale then try to get a group built to buy the team.
I dont really believe anything people in Sac are getting from their sources right now. Tons of damage control.
I’m having a hard time buying that. KJ said he is going to start looking for a group that doesn’t sound like he has a group waiting in the wings and eady to match any offer hansen has.
I don’t also buy that what his source say that an offer hasnt’t even been made yet.
I hate this crazy roller-coaster ride.
Why do i have that feeling that i am only gonna be disappointed.
Yeah, this guy sounded like a total biased homer.
it’s just wierd. when the sonics were sold it wasn’t telegraphed NEARLY this much. most people found out day of the press conference. if this is close i’m not sure it’s a good idea to leak the sale this early. sounds like the gossip is mostly coming from the maloof camp but jeez…
No kidding its hard to keep from being excited i’m kinda feeling its not gonna happen and i am gonna be disappointed.
perhaps living in the twitter era is the difference. in ’07 that was not a factor
whoops pressed the wrong reply button that was meant to be to 206er recent post.
I guess so. I hope it doesn’t fall apart due to some local sac group.
I hear you. Truth is, I think KJ probably has been trying to organize a white-knight group for about a year. The fact that he’s still trying is a clue to the true state of the situation in Sactown.
Because you live in Seattle and are conditioned to feel that way.
Just think of this. Chris Hansen, Steve Ballmer, and the Nordstrom brothers against ANYONE in a bidding war. Who is the odds on favorite in that contest?
You need to have some empathy man. And Chris Hansen knows what hes doing, if it’s not the Kings it will be something else.
Anyways at this point I am feeling confident it is going to be the Kings. But we need to stay cool. We’ve come a long ways.
I would guess the NBA is involved at this point, so if the deal gets done Sac will not be able to change the outcome. Just like Seattle, remember what Stern wants he gets. The big question is will it get done given the Maloofs history
Definitely crossing my fingers that this deal doesn’t fall through
I have faith that Hansen will get us a team. But i’m just kinda iffy since its been report that it’ll take till end of the month to get it done. Part of me feels with a 21 days of waiting it’ll fall apart.
again, for what it’s worth, the scrolling breaking news notice on nba.com now reads, “Maloofs working to sell Kings, move team to Seattle”
Incorrect.
http://www.bizjournals.com/seattle/stories/2006/05/22/daily5.html?page=all
I’m not surprised. I do think it is going to be the Kings that relocate to Seattle.
You know this kinda reminds me of the last month or so before Burguss announced a deal has been reached on the seattle arena.
Someone posted at Sactownroyalty about the press conference
“Looks like this thing isn’t 1st and goal at 1. More like 3rd and goal at 8!”
How does he know where things are at in the talks between Hansen and Maloofs.
It’s had that on there since the story first broke..it links the Adrian Woj Yahoo article..
The guys are Sactown Royalty are us on SonicsCentral back in 08. They are desperate leave them alone.
You know what i would really like to see happen.
NBA comes out and states Seattle gets expansion and Kings get to stay under a new local ownership group.
I agree.
Exactly Sofa. We were clinging to anything back then.
Now here is a legitimate concern…
Dale Kasler@dakasler
Mayor noted a local could buy #NBAKings more cheaply cuz he wouldn’t have to pay relo fee or city loan. Hometown discount of $100M plus.
New thread is up.
One thought i understand the city loan but i don’t get how the relocation fee is part of the buying price is part of the asking price.
I mean wouldn’t the reloc price be a whole separate cost than the cost to buy the team itself.
This entirely depends on what the $500m offer from Hansen entails. I assumed that the relocation fee would be entirely separate from the sale price, and paid by Hansen’s group upon acquiring a team and having relocation approved. If this is the case, another buyer will still need to match the $500m price to appease the Maloof’s. Also, I assume the City of Sacramento will NOT forgive the loan to the Kings, regardless of who buys the team. Doing so would be an inkind contribution by the city and very difficult to pass through either vote or the Sac City Council. With that in mind, either the $77m loan will have to be repaid by the buyer, or if a local buyer gets the team, the loan will be carried by the acquiring team as a liability to be paid at a future date. Either way, the math works out the same - $500m is the starting bid.
To clarify, I am assuming the city has bonded debt for the $77m loan. If they forgive the $77m loan to a “local” buyer, they will have to find another source to repay the debt (general fund?). Alternatively, if the loan was made out of the general fund, forgiving the loan would effectively nullify Kevin Johnson’s promise not to dip into the general fund for a sports team. Either situation makes it highly unlikely that that a local buyer would have some sort of a hometown discount. The loan has to be repaid no matter what.
Agreed.
Why would the maloofs give a home town discount anyways where as he can get much more by selling it hansen for example?