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Maloofs Reality

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kevin44
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Maloofs Reality 

Post#1 » by kevin44 » Wed Sep 12, 2012 5:44 pm

The Maloofs owe about $70 million to the city of Sacramento and well over $100 million to the NBA. They own 43% of the team. Even if they sell the Kings for 400 million, which is way above the 300 million Forbes has it worth, they end up with nothing. The best thing fans can do to keep the Kings is not go to any games or buy any merchandise. This would force them to sell hopefully to someone who will keep them here. They are leveraged so much they can't afford to keep the team, especially if no one supports them this season.
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Re: Maloofs Reality 

Post#2 » by DieHardKingsFan » Thu Sep 13, 2012 12:10 am

Wrong...that would only prove that support no longer exists for the Kings and therefore they should be moved to a city that would.
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Re: Maloofs Reality 

Post#3 » by kevin44 » Thu Sep 13, 2012 4:34 pm

The Maloofs spent the max cap this year. Why? They are trying to increase their image & product to a potential new owner or home. The last three years they spent the least of any team.The new collective agreement gave them more tv money last season & they made money. If they don't increase sells this yr they will lose money & if people don't buy anything Kings it will force them to sell. The Kings will either move or be sold in the next couple of years.
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Re: Maloofs Reality 

Post#4 » by SacKingZZZ » Thu Sep 13, 2012 11:26 pm

Well if the Maloofs are increasing the cap spending to entice an ownership group to bid in, that would make complete sense compared to all the other decisions they've made the last few years. Why? Because its about the most bass ackwards thing an owner would do in order to raise the asking price for his team. Most owners looking to buy into teams want to see a clear cap and the ability to make as many moves as possible sooner. That was why Stern killed a few of those NO trades.
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Re: Maloofs Reality 

Post#5 » by pillwenney » Fri Sep 14, 2012 2:07 am

Whether they like it or not, I really don't see an ending to this besides the Maloofs selling the team because of those loans.
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Re: Maloofs Reality 

Post#6 » by kevin44 » Fri Sep 14, 2012 3:43 pm

SacKingZZZ next season they only have 33 million on the books. They need a sale price of low 400 million to break even & the team is only worth 300 million. My gut feeling is they are still hoping to find a new place to move that will help them pay some of the loan or give them a piece of the arena. A new location would bring them a lot more money at least for the first 3-4 years. If they don't get the support here this season I really think it will force them to sell.
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Re: Maloofs Reality 

Post#7 » by OGSactownballer » Wed Sep 19, 2012 2:47 am

Although I have been to literally hundreds of games over the years, I have resolved to protest with my wallet this year and will attend zero as well as purchase no merchandise.
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Re: Maloofs Reality 

Post#8 » by Sandlot » Fri Oct 5, 2012 12:20 am

I don't think not showing up is the way to keep the team.

I also don't think the Maloofs are going to have the ability to move. There were rumors that there were enough no votes the first time they wanted to move and that was before they pulled their most recent stunts. You don't sit with the mayor and the NBA commissioner and come to a deal that everyone agrees on, THEN back out.

I don't want to support the owners but I still want to support the team and the city that they're in.
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Re: Maloofs Reality 

Post#9 » by kevin44 » Fri Oct 5, 2012 5:20 pm

The Maloofs have two choices either sell the team for 150 million more than it's worth or move to a city that will help them pay back some of their debt. I can't see anyone in Sac willing to overpay that much, but a Seattle Billionaire might. Stern at this point just wants this over & he has said he doesn't want to get into a anti trust lawsuit with any owner. By giving them money you are just buying the owners more time.
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Re: Maloofs Reality 

Post#10 » by Sandlot » Sat Oct 6, 2012 12:00 am

The idea of moving to a city that will help them pay their debt makes no sense. Even when they wanted to move to Anaheim, which was a much better tv market, it would have cost them a several million dollar loan to the city of Anaheim. No tv contract is going to get them out of the mess they are in and the only other option is moving to a city that will take on their debt for them.
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kevin44
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Re: Maloofs Reality 

Post#11 » by kevin44 » Sat Oct 6, 2012 5:21 pm

A city looking to lure an NBA team will get a bond passed to help a team move, like Anaheim did. Seattle has a billionaire in charge, so I am sure he could secure them a loan. The Kings could use that money to pay back Sac the 70 million plus they owe, using the team as collateral. Without some kind of help they could never move & would have to keep the team here or sell it. They don't want to be here & getting 150 million over the value of the team is doubtful.
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Re: Maloofs Reality 

Post#12 » by deNIEd » Sun Oct 7, 2012 3:40 am

kevin44 wrote:A city looking to lure an NBA team will get a bond passed to help a team move, like Anaheim did. Seattle has a billionaire in charge, so I am sure he could secure them a loan. The Kings could use that money to pay back Sac the 70 million plus they owe, using the team as collateral. Without some kind of help they could never move & would have to keep the team here or sell it. They don't want to be here & getting 150 million over the value of the team is doubtful.


It is blindingly clear that the Maloofs have no idea what to do with money. It's obvious that their current play right now is to find a new location that will give them a loan to cover all of their current debts. Well, Anaheim agreed to this, with most evidence pointing to the fact that the King's would be used as collateral.


Seattle doesn't just have a billionaire at the helm of their group.

They have
Chris Hansen - Runs a $3 billion dollar hedge fund (clearly he knows what to do with money unlike the Maloofs)...privately worth around $1.3 billion (most figures I've seen say around $1-1.5 billion).

Steve Ballmer - CEO of Microsoft...privately worth around $15.7 billion (top 20 wealthiest in the world)

Nordstrom Brothers - Combine for $2.1 billion.




I am willing to bet anything, that if the Maloofs move to Seattle...Hansen and the others in the Seattle investment group seize control of the franchise within 3-4 years.
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Re: Maloofs Reality 

Post#13 » by YC42Balla » Sun Oct 7, 2012 8:23 am

Chris Handens' a billionaire? Nice. :lol:

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Re: Maloofs Reality 

Post#14 » by deNIEd » Sun Oct 7, 2012 5:02 pm

kevin44
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Re: Maloofs Reality 

Post#15 » by kevin44 » Sun Oct 7, 2012 9:57 pm

Sport franchises tend to lose money, even good ones. There are very few owners who are nearly broke like the Maloofs. Due to all the families bad decisions they are trying to hang on to the Kings to secure future income. At this point they are just looking for someone to bail them out. If they can't find a deal that lets them keep the team or they can't get an inflated sale price they will have to stay in Sac. Do we win if they have to stay here? Will are best players stay here under these conditions?
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Re: Maloofs Reality 

Post#16 » by SacKingZZZ » Sun Oct 7, 2012 9:59 pm

This Chris Hansen is the one that looks like the guy who would be sitting across the table from that Chris Hansen.
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ock
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Re: Maloofs Reality 

Post#17 » by ock » Fri Oct 12, 2012 7:15 pm

I hope you guys get new owners. I miss the CWebb/Vlade/J-WIll/Peja era, there were some intense battles with the Lakers. It makes me sad to see the franchise mired with ownership bungling.
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