Apparently Chris Hansen simply forgot to hire an attorney.
Had he hired an attorney there is a strong likelihood that he would have asked the Maloofs for a copy of their partnership instead of having George Maloof summarize it over a pint of Guinness.
The real travesty occured at an NBA level where nobody bothered to ask about the partnership agreement and instead they simply filled in the blanks of a standard team purchase agreement that had not been updated since 1986.
Seriously, I get that they are looking for hope. I understand that right of first refusals do sometimes exist in contracts and that they are all relevant to greater or lesser degrees based on the strength of the language in that particular contract. I find it a HUGE stretch to think that somehow there is a smoking gun in that contract that was just somehow overlooked and that every minority partner of the team simply can step up and say “I’m blocking this move.”
It would have been a MAJOR oversight by a lot of people if somehow there is an unlimited and enforceable right of first refusal. If there is some weak language along those lines then try to embarrass the NBA that way. Just try it. See how Harvey Benjamin welcomes you into the owners club after you make that move.
I would bet you a lot of coin that the NBA specifically prohibits ROFR language that would allow small minority owners to invoke that right for the purpose of transferring the team to a third party. If they did every single one of them would be auctioning it off. It would become a huge commodity.
Makes you wonder that if this was a standard thing why Larry Ellison hasn’t just bought out some minority ownership in one of these troubled teams.
Great point. Seems like a much easier way to buy a team that way.
these fellows live and work in a world where very expensive lawyers are paid handsomely not to make bonehead mistakes. also, the nba will NEVER be comfy with anything that seems to restrict owners’ rights to sell to whomever, whenever. . .
And once again Brian has the words to defuse any angst I get with another twist in the story. . I owe you a beer or 2 Brian.
Brian Robinson,
so this is nothing for us to worry about?
these are businessmen. They have made billions on business ventures. They don’t overlook things like this
https://twitter.com/cdude9590/status/294522041095315456/photo/1
Pelicans logo, gotta say not a fan of this one.
Looks like an Atlanta rip off. I kind of like it.
It looks like a thanksgiving turkey…
The Pelicans logos designed by members of UniWatch looked better than that obvious design.
Does that pelican seriously have red eyes?
Is it a zombie pelican? A bizarro pelican? A slightly miffed pelican? I don’t know.
Well, it seems pretty unrealistic that Hansen/Ballmer would ever sign a binding offer without knowing all the details contracts.
And even if that possiblitly exists, wouldn’t it call for those already owning minor parts of the franchise to pony up the $ to buy the team?
And wouldn’t it, at the end, come down to a legal issue(suing owners, sale and maybe the league) as it’s said to be auctioned the same day as the BOG meeting where they decide on relocation?
Chris has been incredibly meticulous and detailed throughout every single aspect of his involvement with bringing a team back to Seattle. I simply doubt he would have looked over such a huge provision in a deal. IMHO, there is no chance of such oversight.
I’m guessing the ROFR issue will come up in KJ’s press conference.
So let me guess he is gonna drop from his “whale” watch and try to get the minority owners to claim right of first refusal?
So we got off one rollercoaster and got onto another one?
haha best post title ever.
There is a reason minority owners are minority owners. A lot of time it comes down to what they can afford. If a minority owner wanted to buy more shares of the team and didnt agree to the sale……..and most importantly could afford it………wouldnt they have done something about it by now? I would think so.
If you have $340 mm…………why are you a “minority” owner?
Couldn’t the maloofs say no to the minority owner right to first refusal?
I still ain’t buyin what they are selling. I’d be shocked that Hansen would be caught with his pants down on this. Sacramento is playing checkers, while Hansen is playing chess.
@carmichaeldave
I have received a full copy of an unnamed minority owner’s full agreement and have forwarded it to an attorney for clarification.
I doubt this one but I will keep checking up on it just for fun.
Attorney: “Shaddup foo.” :-D
I think the PC today is to announce the earnings report of concentrated orange juice that is produced in Northern Cali.
Dear NBA BOG,
PLEASE address this franchise transaction sooner, rather than later! Californian politicians threatening potential NBA financial partners/owners is an unhealthy picture being painted for all other future NBA financial partners/owners. Put this baby to bed!
I’m hoping that the BoG will vote on the sale during the All Star game. I don’t know how realistic it is though.
You and me both!
To me it makes sense, it would get rid of the current drama and bring a bit of stability to the franchise.
Like as part of the halftime show?
lol at this point why not ;)
That would be insane (in a good way)! :-)
Announcer: … and now, as part of the halftime show during NBA All-Star Weekend, we’re doing a live cross to Seattle, where we’ve got Gary Payton with us. You there, Glove?
Glove: Wassup? Yo, I got a few people behind me here, and we got an announcement an’ all dat. Chris, come over here…
*Chris Hansen wonders into shot holding a piece of paper with signatures at the bottom*
Chris: We got the Sonics!
*Cue white noise, mayhem, insanity, dogs and cats living together in harmony and a year of world peace* :-)
Lets try to remember, that Hansen bought 65% of the franchise, and another 7% is to be auctioned off, which leaves 28% for the other minority owners. The only one to bring up the first right of refusal is the bankruptcy trustee for the guy who owns 7%. I haven’t heard a word from the other 28%, or am I missing something?
That 7% isn’t being auctioned off until apirl around the time the vote of the sale agreement.
So its little to late for who ever ends up with that 7%. Now where are those that own 28% of the team regarding that.
That’s pretty much it James
Well, let’s also assume some random third party purchased the bankruptcy shares. Would he then suddenly be granted this right of first refusal? I would think not because the purchase and sale will have already been complete so that person will have a right of first refusal on the NEXT sale (in 35 years or something). It would be really nice if the NBA would approve the purchase (even if not the move) prior to that friggin bankruptcy auction
The Maloofs would have the first right for that 7% before any auction. Which may be what the 30% down payment is for.
$30M down payment, sorry.
Chris Daniels @ChrisDaniels5
This Hansen ‘Green Team’ is now focused on foliage on top the #SeattleArena: http://ow.ly/i/1pXPm
@ChrisDaniels5: This is idea that’ll get #Sonics fans excited. Hansen’s team talking about #SeattleArena wall which can reflect images http://t.co/Spn2XGk4
@ChrisDaniels5: Here is another shot of the proposed #SeattleArena wall/readerboard at night: http://t.co/U3LXcOfK
sploosh
The green with the orange in te background reminded me of the mid 90s logo and color scheme
LIKE!!!
I have to say I’m liking that idea
If it actually reflects moving images, it’s going to be amazing. Not sure if that’s the intent. It’d be like the “oculus” at the Barclays Center.
Really like the potential of thif
If this right of or at refusal were really an issue, wouldn’t some of the 28% have spoken up by now? This bankruptcy trustee looks likes he’s grasping at straws, or just leveraging to get top dollar for that 7%
*right of first refusal
“This bankruptcy trustee looks likes he’s grasping at straws, or just leveraging to get top dollar for that 7″
I’m thinking its a bit of both and also the free publicity for the auction isn’t bad either.
That is pretty rad. Gonna blow folks’ minds.
The way this Plaza is envisioned by Chris Hansen, seems to me the Mariners should be getting on board with the whole project (then again, I don’t think they should have objected in the first place). Personally, I attend 10-15 M’s games a year. If I had more pre and post-game entertainment options, I would likely go to more games every year. This has the possibility of being a “win win” for everyone involved.
I wouldn’t count the M’s as an entertainment option.
They can be pretty funny, though.
I
Am completely confident that Hansen’s lawyers have vetted every single aspect of the contract
Reports are coming in that Chris Hansen, notorious big dumb meanie and all around poop head, may himself have invalidated the stupid deal he signed with the big jerk Maloofs by spelling his own name incorrectly because he’s a big stupid dork face.
Per source.
LOL…that was tweeted by Carmichael Dan(or what ever his name is) right?
Yeah, but now Ziller is piping in saying that Hansen attempted to contact the NBA about this issue, but he has no contacts in the organization and most of them think Hansen is a “shortbread stinkface”. The automated response to his plea to support@nba.com was unhelpful.
Per source.
awesome
Carmicheal dave is claiming the reloc fee is part of the sale so minor owner only need 306m to match.
Has he even seen the sales agreement so how does he know that 525m entails?
I guess I don’t understand, but isn’t the relocation fee between Hansen and the NBA and a total separate thing from the valuation of the team? I’m confused?
The relocation fee is between Hansen and the NBA. Its an NBA fee not a Maloof add on demand fee.
Isn’t the agreement that an owner moving a team has to repay any debts the team currently owes to the old city before it moves? I believe that’s where the $77mill comes from… the Kings owe Sacto $77mill, the NBA requires Hansen to pay off that debt before the team moves to Seattle.
And that’s only once they start talking relocation. In no way is it connected to the sale of the team.
@ChrisDaniels5: At this point, both Hansen/Maloofs camps tell me they have nothing to add on #NBAKings ‘right of first refusal’ issue as reported by @sacbee
I’m assuming their lawyers are handling the issue and they are just keeping quiet?
Like how big boys business do work, our of the media. Sactown waging this war in public proves they have nothing
The whole first refusal thing is pretty damn flimsy. I think its just noise and a non story. Besides if it gets down to it we Microsoft’s army of lawyers. I’m not worried about it at all.
Microsoft has tons of Lawyers but Microsoft isn’t buying the Kings…. Ok, i’m being petty - Pretty sure Ballmer has the list of lawyers used by Microsoft and will have their services as the snap of his fingers.
… and all the lawyers working on the Right of First Refusal issue in Sacto suddenly found their Windows licenses revoked overnight… XD
Chris Daniels @ChrisDaniels5
At this point, both Hansen/Maloofs camps tell me they have nothing to add on #NBAKings ‘right of first refusal’ issue as reported by @sacbee
I have started to master the iPhone twitter app to safari copy function. Sorry to beat ya to it
Its all good man :)
Have to say, I hope the arena looks better when its built than in these renderings. Not really liking what I’ve been seeing. I get the whole “green” thing but seems a little too forced in this instance
Well it was reported that colors are just for contrast at this point. Texture will be matted too for easy of rendering
The arena design will change over time. This is typical during design review.
I don’t care if the arena exterior looks like a used merkin. If it gets us 30+ years of the Sonics and the possility of hockey in the future, I say bring on the merkin!
Haha…no I’m with you on that!! Just saying, guess I was expecting something different. But yeah could care less where they play as long as its here!!!
Chris Daniels @ChrisDaniels5
On issue of ‘Right of First Refusal’, folks in Sacramento are citing Michael Jordan purchase of Bobcats as precedent: http://ow.ly/h6Bot
and
Chris Daniels @ChrisDaniels5
But that same article also notes sale was not complete at time. CW would be that attorneys looked at this issue - so we’ll see. #NBAKings
CW?
Conventional Wisdom?
Another thing i find crazy just cause one claims and supposedly confirms that there is ROFR people suddenly believe it.
At this point any thing coming from Sacranento had to viewed with suspicion
Conventional wisdom
I thinks its Coolidge Wall out of Ohio.
Jordan specifically negotiated that right of refusal when he heard the team might be for sale
Exactly
Emphasis on “might”.
The Kings aren’t just “might be for sale” anymore. They’ve been sold, period.
When I was in high school, I gave this one girl right of first refusal for every date I ever had. She consistently exercised that right to refuse me.
Well I hope you sued her.
You’re kidding?
You’ve never sued a girl before, soundersfan?
I reckon I’d be a single man today if my college girlfriend had a better team of lawyers.
Every time. She was all like “on the advice of counsel, i exercise my right to refuse you”.
lol
My favorite development today? This Steinberg guy picking a fight with Microsoft.
I’m getting my popcorn out for the results of that play.
How did Admiral Yamamoto say it?
“I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve.”
What does a sleeping giant say when a gnat tries to wake him up? Snooorrreeeeeee.
Anybody see this?:
http://deadspin.com/5978111/a-history-lesson-for-sacramento-how-kansas-city-lost-the-kings?post=56582266
I never knew it was a Clay Bennett-like con job that brought the Kings to Sacramento.
Yup. Saw it. Of course that won’t mean anything to fans too young to remember it. Of which I’m guessing are most of them.
Bingo
A associate of KJ Greg van Dusen ON 1140 in SacTown. “Seattle has shown its cards. I wouldn’t want to be the one to show its cards first”. HUH!?!?
You wouldn’t have wanted the Maloffs to sign a bill of sale with a Sac group first?
But we have black jack
Wow that quote from Van Dussen made no sense.
A lot of their action makes no sense at this point.
True enough
Is it just me or is it not a little shady/unethical for a California state politician to start thrusting himself into a legal business transaction between two private parties? Using his position of power to threaten action against a Company (of which, wasn’t directly involved in the said transaction) seems incredibly unethical to me. With that in mind, I think this is nothing more than a political farce to dumb up political support. If Steinberg tried to pull contracts with Microsoft, the Company would have plenty of ground for legal action against the Corrupt State of California.
I think it seems shady/unethical too.
I don’t see any of that happening. It would not be prudent even by California standards to spend that kind of public cash on such a frivolous suit
Well, there seems to be a pattern here.
First off they’re talking about big investors, matching the offer etc.
Then they’re talking about maybe mentioning big investors/hoping to name them within some time.
And now it’s about a possibility to refuse a sale that somehow a group of Ballmer/Hansen haven’t seen while studying the contracts of their purchase?
I’m by no means a legal expert but to me it seems like their bet now is a possible lawsuit to stop a sale/relocation.
If so, we all know how much they really matter…
Considering there is no lease to enforce, it will be a hard suit for them to win if our paperwork is in order
I think they would claim it was illegal based on now giving minority owners ROFR.
Well we do have a very rich group of investors. A lawsuit that money should be able to take care off.
I just don’t see any grounds for anything more than a really weak injunction on the sale.
Our lawsuit was based on the enforcement of the lease at the Key.
Sofa, what i previous posted was that they would be arguing that maloofs didn’t offer the deal to the minority owners to match it.
Question remains if there actually is a ROFR in the previous agreement.
Well, even if they had that ROFR, how would they pay the price?
It’s not like some guy(Burkle) can come in buy a share and then buy the majority of the team.
Why would burkle buy the minority owner share then attempt to buy the majority owner share? That’s silly.
Chris Daniels@ChrisDaniels5
RT @Ryan_Lillis Sen Pro Tem Steinberg, Mayor Johnson, other elected officials meeting at Steinberg’s office 3 pm. Press conference to follow
Interesting that KJ’s now officially meeting with the guy that suddenly wants to get after Ballmer(Microsoft), since the agreement has been confirmed.
My popcorn is popped!
And I can hear corks popping in every lawfirm that Microsoft has on retainer. If they try to chase Ballmer from this situation, it will be a BLOOD BATH.
California threatening Microsoft in ANY way is like me talking sh!t to my nervous system. “HEY spinal cord! You start playing by my rules or I will CRIPPLE myself and then we’ll see how BIG you are!!”
lol
interesting analogy!
The more and more that KJ continues this dog and pony show, the more it proves to me that he is scrambling
Ian Furness is talking to Dale Kasler of the Sac Bee right now.
http://www.iheart.com/#/live/2565/?autoplay=true
No even sure why we are even talking to those people, everyone by now had to realize most everyone from cowtown are sunshine pumpers
Only a few people know the details of Hansens deal. For all we know the minority owners may have already decline any matching offer if they even have the ability. What I like about Chris it is clear he is not going to engage in any press war.
Also think about it there is no way that someone can come in and buy shares out of bankruptcy court and stop a deal that is aready signed. Sac is reaching and may try to find a reason to delay this in court any way they can.
FYI
The minority owners make a lot of money on this deal
79,
the auction doesn’t take place until apirl BOG meeting anyways. Question i still wonder will NBA bump the sale vote too February or not.
Well, they’ll have to decide on the sale before March 1st.
If they don’t then Hanson wouldn’t be able to file for relocation.
Apparantly there are three minority owners besides the one declaring bankruptcy.
Is the one that is selling his share to hansen’s group part of the 3?
He didn’t say. They only know the name of the one declaring bankruptcy.
This should be a Reality TV show.
The Men without a clue of Sacramento
+1
This is a classic case of a bankrupcy trustee trying to maximize the value of an asset. It is unlikely the remaining portion of the team (minority share) will fetch the same value as the first 65% as the majority share fetched a “control premium”. The Trustee is just trying to pry as much value out of that 7% as they possibly can.
Sonicsman @sonicsman
Sacramento loading up Politicians to Save #nbakings, well I guess it worked well for Seattle!! #nbaseattle
Whales, ROFRs, lets see what’s next for KJ’s press conference. Cue the circus music please.
” We are switching all computers to macs and selling the windows desktops in order to raise money to buy the kings”
“Hey Microsoft we’re switching to Linux Ubuntu for all of our computers operating systems, that will teach you, you big meanies”
Linux is based out of Tukwila.
True but they aren’t Microsoft. The politician seems to have an axe to grind with MS not with the state of Washington so far anyway.
Watch MS then turn around and buy Linux.
KJ will jump through a hoop of fire a la Squatch.
Our boy Dave is at it again, he’s delusional
So he thinks the courts will FORCE maloofs to sell locally?
IMHO it’s desperation mode. Pull out all stops and see what works.
Definitely desperation mode
So now they’re hoping for the courts to help them out?
Do they really think that’s something the NBA likes?
And don’t we as Sonics fans know how those things end like?
I don’t want to go back too much into our past but things look more and more like they looked in Seattle nearly five years ago.
Can’t NBA reject the suppose ROFR offer anyways?
I’m not sure about that.
Though, I’m sure about one thing.
The NBA does not like being sued or dragged to court over things like that.
That would be “scorched earth policy” all over again…
Absolutely, if their finances don’t meet the NBA requirements.
One thing that’s painfully obvious is that the Seattle anti sports crowd are way more vocal than Sacramento’s. can you imagine if Seattle’s mayor had 3 press conferences in 3 days to talk about saving a team? There would be all kinds of bitching and moaning about “more important things”!
LOL
Joe Cook @GiantsKings9ers
@Softykjr @SacBee_JoeD, They do when Burkle writes a contract that says he’ll finance it and they sell it to him 5 minutes later for a fee.
Do people actually realize that ROFR is more complex that they claim.
you can’t expect to buy minority share than claim ROFR on a deal that’s already been signed.
They are really trying to piece this together aren’t they? Do they think they can sell their minority stake and have the ROFR transfer after a binding sale? They have completely lost all logic
Appearantly they do think that will get it done/is possible.
Again, should be an interesting ride with stops at the ASG, March 1st and BOG meeting in April.
Indeed.
If the minority owners do have a ROFR we would have heard about it by now. So it makes me wonder if they never bothered to provoke it.
What’s sad is that they’ve had to scramble everything together in six weeks to match Chris’s offer.
What’s sadder is watching them do it in public.
The ROFRcopter? All aboard!
ROFRcopter hahahaha brilliant
LOL
The more and more the situation plays out, it just seems to get more similar to us 5 years ago. A new ownership trying to save the day, now the supposed ROFR clause which reminds me of Howie’s threat of suing Clay to get the team back. Us like them, thought every bit of good news was going to save the day. At the end of the day it sure seems like those we remain quiet seem to have it go their way. That’s why I’m loving Hansen’s continued silence.
I agree Sac situation is becoming more and more similar to our situation 5 years ago.
all this has made me glad we didnt have twitter when we lost the sonics. just would have made the inevitable that much harder to deal with.
David Stern should tell KJ to stop this or you will never get another team.
I don’t think Stern cares since he’s retiring anyways
If I am a minority owner I am probably shutting up because the sale instantly increased my value by 75% and likely nets them a 100%+ return on initially purchase. Sounds rude but they aren’t big money guys in all likelihood.
have any of these minority owners actually come forward and said they want to buy the maloof’s shares or is this purely speculation on the part of the sac bee and that dude’s bankruptcy lawyer? at this point it seems like those two parties are just saying, “well they might be able to excercise that option if they were willing and able.” i’m curious to see if any of those owners actually have the ability or the will to follow through on those assumptions.
At this point I’m thinking its speculation on the part of the Bee and the lawyer.
Hello Sonics fans! I’ve been lurking for a long time on both SonicsCentral and the new blog, but this latest series of events has left me no choice but to jump into things.
Went to my first Supes game in ’77 against the Buffalo Braves. Don’t know who they are? Well then you’re probably under 40.
I’ve lived and died with the team since then, but I moved across the country to VA in ’04. As bad as the sucker punch to the gut was when they moved, I was glad I didn’t have to live day to day in Seattle without the Sonics. I really feel for you guys in the last 5 years. As tough as it’s been for me from across the country, I know it’s been doubly tough for you all on the front lines.
Anyway, thanks for everything that all of you have done to get us to this point.
So I’m making tentative travel plans in my head to be at the first game of Sonics 2.0 this fall, and I’m just wondering the following: What’s the likelihood that the signed sales agreement between the Terminator of Doubt (aka Chris motherflippin’ Hansen) and the Magoofs is derailed by Sac. “whales”, Rights of First Refusal, BOG denials or any of the other hail mary’s that Sactown comes up with?
To me it seems pretty simple. Hansen was first in on a purchase agreement, the NBA clearly wants this ownership group and to fill in the Seattle-sized hole in the league, and those two facts alone point strongly to success for us. Think about how many things seemed to be in our favor in ’08. Existing building lease, much larger market, potential whale of all whales lurking in the wings, and still it didn’t happen because the NBA wanted Bennett to move the team.
Now the league wants the Kings to move to Seattle, it seems to me, so that’s what I think will happen. Unless I’m reading the league wrong, which I certainly could be.
Overall I give this about a 95% chance of going down, but I’m definitely still very worried about that 5%. That’s why I’m obsessively hitting refresh on this blog every 10 minutes!
What do you all say? What are our chances on this thing?
Wasn’t Bob Macadoo (sp?) on the Buffalo Braves?
According to WIKI he played there from ’72 to ’76. Don’t think he was on the team when I went to that game though. Of course they later became the San Diego/LA Clippers.
Bob McAdoo
Bill Russell wanted to trade for him but he didn’t want to come to the Sonics
I remember that. Glad we didn’t, in hindsight.
I think most of us are about where you are.
What, Virginia? :-)
If we do end up getting the sonics back some of us mid Atlantic folk will be going to wizards games. So when the time comes ill try to organize a meetup
Count me in on that. Went to both Hawks playoffs games this year. That drive to Atlanta was a killer, especially the drive back. 8 1/2 hours after such a tough loss was brutal.
So if Hansen bought a minority share does that mean he could refuse the right of another minority to refuse his right to buy the majority share?
He is buying out one of the minority partners…
yep. thats why he has 65% of the team. maloofs only owned 53%
Dude you know what? As ridiculous as this whole thing is, you just brought out an argument that shreds that small portion that isn’t ridiculous.
in fact i’m passing this on to chris daniels.
Haha. But his sale hasn’t been approved yet.
the sacto guy that talked to ian was saying “what if burkle bought the bankruptcy share?”. would be just as much of a late comer.
this argument on hansen’s side is at least as valid as the original rofr argument.
If he bought the 7% share in bankruptcy, I’m assuming you’d just add that to his 65% majority share to increase his majority position. Can’t be a minority and a majority shareholder at the same time, can you?
its not about minority vs majority. its about being a fellow shareholder
It’s funny because it is a great point against the idea of one of the minority partners combining with a whale. One already has and they picked Hansen. So going forward with this right of first refusal theory, Hansen already has an in.
Is it just me or does this right of first refusal stuff remind anyone else of Schultz’s lawsuit?
it does but the schultz lawsuit didn’t have any merit because it wasn’t based on an actual contract. it was some side letter that was excluded from the actual sale of the team because schultz is a jackass.
No it was also part of the contract.
However there was also a clause that held him liable for the otherside’s attorney’s fees should he sue. Schultz pretty much backed down after the City of Seattle settled.
Does anyone have a link for KJ’s 3:00 presser?
KJR might be carrying it . They did the other 2.
http://www.sportsradiokjr.com/main.html
same link as yesterday
http://www.news10.net/video/liveonline/default.aspx
Key points.
This guy is a bankruptcy trustee. He is not a minority owner, he is not a lawyer representing a minority owner.
We have not heard from any minority owners.
The NBA was briefed on the sale before it was signed. There’s no way Hansen’s lawyers AND the NBA overlooked something this consequential.
I’m not worried. And here’s why:
Either there is no ROFR and this is a complete waste of time by Sacramento or there is a ROFR clause.
If there IS a ROFR, then why haven’t we heard anything from any of the minority owners about buying the team? It’s been, what, 4-5 days since news broke about the sale? Surely if one of these minority owners wanted to step up and buy the team they would have said something by now.
This implies that they either:
A: can’t afford to/aren’t interested in buying the Kings for whatever reason.
B: they’re unaware of the ROFR clause in their ownership (which is ludicrous because what person invests in a multi-million dollar enterprise like a basketball team and doesn’t pore over the contract)
If they were even at all interested in helping keep the Kings in Sacramento, wouldn’t you think that these minority owners would have made contact with KJ by now?
So assuming the minority owners aren’t interested in matching and can’t sell, transfer, or partner up with someone who DOES want to save the Kings, that leaves the 7% to be auctioned off in April (either 1st or 19th according to Sactown Royalty). If it’s the 19th, it won’t matter because the BOG meeting is the day before as I recall.
From what I understand, Hansen & Co. are interested in buying that last 7% at auction. If that proves to be the linchpin of this whole plan, I fully believe Hansen would not leave such an auction to chance; and as such move Heaven and Earth to buy that last share.
Still, it was enough to give me a bit of a fright earlier today. Also, hi, first comment.
hi, nice comment, thanks for joining! Go Supersonics!!!
KJ is an idiot. He keeps quoting the Golden State sale. Fact was Ellison gave the larger bid at the last minute when a commitment was already made.
I don’t think he’s an idiot. He’s playing the cards in his hand.
Seattle sold for less too.
Less than what? Schultz chose not to sell to Ellison because he made no bones about his intention to move.
Less than what Ellison offered. I wish Shultz would have sold to Larry Ellison in the first place. Would have been a much easier cleaner break for us fans.
Same with Golden State. Same with Memphis. Same with New Orleans. Nobody sells to owners looking to move.
The Maloofs clearly dont care who they sell to in terms of them moving a team. They themselves have threatened to move how many times to how many markets?
My point is KJ is pointing to situations where owners were not willing to sell to someone looking to move. Its more false hope.
Was that it?
BREAKING: KJ’s news conference revealed … drum roll … nothing new.
Is KJ planning to host an Amateur Hour session every afternoon until the BOG?
Hey KJ…cry wolf much?
@Keep the team here, or I’ll keep holding press conferences every day! I’m not bluffing! I have a microphone, and I know how to use it!”