Oh God no. Sold to Seattle owners?

21shumpshumpst · Post #321 » by **21shumpshumpst** » Mon Jan 21, 2013 6:23 pm

Really sorry guys for this. Deal is done. The nba and kings just confirmed. This is some of the most classless negotiations I have seen.

So sorry guys.

RIPskaterdude · Post #322 » by **RIPskaterdude** » Mon Jan 21, 2013 6:26 pm

21shumpshumpst wrote:Really sorry guys for this. Deal is done. The nba and kings just confirmed. This is some of the most classless negotiations I have seen.

So sorry guys.

It's confirmed but hasn't been approved yet.

knicks1999 · Post #323 » by **knicks1999** » Mon Jan 21, 2013 9:39 pm

I am a knicks fan,living in Sacramento,I am sure going to miss going to my knicks games once a year here.What an atmosphere...I would bring my kids to other games a couple times a year just for fun.My daughter loved shooting hoops after the game on the court,as far as I know,no other arena allows you to do that...The kings sure will be missed here in Sac.This really stinks.

JSrose115 · Post #324 » by **JSrose115** » Mon Jan 21, 2013 10:02 pm

We have until April to really find out if the team is going to move or not, but with Clay Bennett on board, it doesn't look too good. But I still have hope. #kingsallday

PaulGaston · Post #325 » by **PaulGaston** » Tue Jan 22, 2013 1:30 am

Why do you have until April? Honest question... I'm having trouble following the story. The way I had been explained it, now that the deal done it will absolutely be presented to the relocation committee in a couple weeks... to which it is an almost guarantee they will approve the move... and at that point, there is no turning back.

The way I had been explained it, the ownership group that Kevin Johnson is presenting is kind of a mute point. They can present their offer, but it only matters in the extremely unlikely scenario that the relocation committee rejects the move to Seattle.

So (again... how it had been explained to me and PLEASE correct me if I'm wrong) it's almost like selling a car on craigslist. You know for a fact the car has no issues. You already met with the buyer who has agreed to buy your car for a crazy inflated price. He wrote you a check and you signed a contract... It's a done deal on the condition that his mechanic takes a look. You know for a fact the mechanic isn't going to find any problems, but you still have to go through the process and the appointment is set. If the mechanic gives it a green light, the car is gone ... Meanwhile, your brother says, "Hey man, that's messed up! I'm your brother! You should at least give me a chance to buy the car... let me make an offer!" and you're like "Yeah, you're right. Tell ya what... get your pennies together and feel free to make an offer... in fact, feel free to present your offer. In the event the mechanic finds a problem with the car and the deal falls apart, maybe we can actually keep the car in the family"... Was it explained to me wrong?

Post #326 » by **floppymoose** » Tue Jan 22, 2013 1:35 am

If the team does leave, I think an NBA team will be back to Sacramento some day. And the good news for Sacramento fans is that the Maloofs will not be involved.

PaulGaston · Post #327 » by **PaulGaston** » Tue Jan 22, 2013 1:53 am

PaulGaston wrote:Why do you have until April? Honest question... I'm having trouble following the story. The way I had been explained it, now that the deal done it will absolutely be presented to the relocation committee in a couple weeks... to which it is an almost guarantee they will approve the move... and at that point, there is no turning back.

The way I had been explained it, the ownership group that Kevin Johnson is presenting is kind of a mute point. They can present their offer, but it only matters in the extremely unlikely scenario that the relocation committee rejects the move to Seattle.

So (again... how it had been explained to me and PLEASE correct me if I'm wrong) it's almost like selling a car on craigslist. You know for a fact the car has no issues. You already met with the buyer who has agreed to buy your car for a crazy inflated price. He wrote you a check and you signed a contract... It's a done deal on the condition that his mechanic takes a look. You know for a fact the mechanic isn't going to find any problems, but you still have to go through the process and the appointment is set. If the mechanic gives it a green light, the car is gone ... Meanwhile, your brother says, "Hey man, that's messed up! I'm your brother! You should at least give me a chance to buy the car... let me make an offer!" and you're like "Yeah, you're right. Tell ya what... get your pennies together and feel free to make an offer... in fact, feel free to present your offer. In the event the mechanic finds a problem with the car and the deal falls apart, maybe we can actually keep the car in the family"... Was it explained to me wrong?

A quote I found on a Sonics blog seems to back up how it was explained to me: "The $30 mil serves to keep Hansen/Ballmer from backing out. It also places them first in line for the team, if the rumors of a signed deal are true. No matter what offers the Maloofs receive from now on, the team is theirs if the BOG approves. However, in the case that the BOG doesn’t approve Hansen/Ballmer (very, very unlikely), they would be allowed to have a second, third etc. offer lined up."

K-Town King · Post #328 » by **K-Town King** » Tue Jan 22, 2013 2:08 am

Feel even better about the fact that me and my friends on our trip to Vegas last year won most of our gambling money winnings from the Palms

blind prophet · Post #329 » by **blind prophet** » Tue Jan 22, 2013 3:14 am

Hang in there fellas, we may just get our cake and eat it to, Maloofs out and maybe KJ can come through.

Post #330 » by **Wolfay** » Tue Jan 22, 2013 4:44 am

floppymoose wrote:If the team does leave, I think an NBA team will be back to Sacramento some day. And the good news for Sacramento fans is that the Maloofs will not be involved.

Doubt it. KJ won't be mayor forever and there's not a whole lot of corporate wealth here.

deNIEd · Post #331 » by **deNIEd** » Tue Jan 22, 2013 4:23 pm

floppymoose wrote:If the team does leave, I think an NBA team will be back to Sacramento some day. And the good news for Sacramento fans is that the Maloofs will not be involved.

You're pretty wrong Floppy.

This most likely means no major professional sports team (NBA/NFL/MLB/NHL) in Sacramento in at least the next 20-30 years.

kevin44 · Post #332 » by **kevin44** » Tue Jan 22, 2013 4:46 pm

The Kings are gone, unless the owners don't approve the move. No last minute deal will save the Kings. Again guys the Maloofs can sell to who ever they want, so I don't understand why anyone would have hope KJ can save the day. Even if KJ can scrape up enough investors last minutes the Seattle group has the money, the arena, & now they have the Kings under contract.

Post #333 » by **pillwenney** » Tue Jan 22, 2013 9:55 pm

New press conference supposedly starts in 5: http://www.kcra.com/Watch-Now-Mayor-Joh ... index.html

Post #334 » by **pillwenney** » Tue Jan 22, 2013 9:56 pm

kevin44 wrote:The Kings are gone, unless the owners don't approve the move. No last minute deal will save the Kings. Again guys the Maloofs can sell to who ever they want, so I don't understand why anyone would have hope KJ can save the day. Even if KJ can scrape up enough investors last minutes the Seattle group has the money, the arena, & now they have the Kings under contract.

The Kings may have the money and have as much of an arena as Seattle has.

ADoaN17 · Post #335 » by **ADoaN17** » Wed Jan 23, 2013 12:37 am

Sacramento has had a lot of support and don't need to pay as much. I think they can match whatever Seattle offers.

blind prophet · Post #336 » by **blind prophet** » Wed Jan 23, 2013 12:37 am

kevin44 wrote:The Kings are gone, unless the owners don't approve the move. No last minute deal will save the Kings. Again guys the Maloofs can sell to who ever they want, so I don't understand why anyone would have hope KJ can save the day. Even if KJ can scrape up enough investors last minutes the Seattle group has the money, the arena, & now they have the Kings under contract.

Oh you can

[youtube]http://www.youtube.com/watch?v=uHSTwqCsyVY[/youtube]

If you want to, but not here buddy, been a fan since 1985.

We have been through it all so far, I remember when the media and league called us farmers in tuxedos back in the day.

Been through years of being a laughing stock, even Theus said Sacramento was not California, and our 20th ranked media market being treated like it is Zimbabwe.

Finally all the chips are on the table, hang in there...

dozencousins · Post #337 » by **dozencousins** » Wed Jan 23, 2013 2:59 am

Well though I believe K.J. will give the commish & the NBA owners all the facts & reasons for the Kings to stay the bottom line is it would take a miracle for the Kings to stay . The thing is through the history of the NBA once papers have been filed for relocation not once have the owners ever stopped the move . The reason they never have is because owners fear once they do stop a move then its likely if they wanted to move or sell a team then they might be prevented from doing so .

Lastly an interesting fact we have going against us even more . Clay Bennett who origionally moved the Sonics will owe the city of Seattle 30 million dollars next year if no team is in seattle per his agreement once the team moved . Interesting enough he is head of the NBA board of govenors and is & has been a big part of helping get this sale done to seattle . Talk about a conspiracy between that & stern trying to cement his legacy of trying to get a team in seattle back before he retires . At our expense no less .

Conspiracy : Anyone want to bet that if the Kings get moved ( of course they would be renamed later ) that in the NBA draft they win the lottery & get the 1st pick ? When New Orleans sold last year to the saints owner last year the Hornets get the 1st pick , The year the Wizards sold they get the 1st pick ( j.wall ) it just seems to me when a team is in the lottery and that team is sold or moved that team amazingly enough wins the lottery ?

boogie-reke · Post #338 » by **boogie-reke** » Thu Jan 24, 2013 6:24 pm

Flemmer, the court-appointed trustee overseeing the 7 percent share of the Kings owned by team limited partner Bob Cook, said Cook and other minority owners have "first right of refusal" to buy the club. He said that right is guaranteed in the partnership agreements governing ownership of the team.
That means the limited partners should be allowed to match the deal that the majority owners, the Maloofs, have struck with the group headed by hedge fund manager Chris Hansen.
Flemmer wouldn't go into details on legal strategy but said he plans to assert the limited partners' rights at a hearing next Thursday in U.S. Bankruptcy Court in Sacramento.
"Bankruptcy is a tool; this tool can be effective," Flemmer said. "We are very, very, very concerned that there's a deal being cut that's going to (ignore) that right."
A source close to the Maloofs said recently that the family doesn't believe the limited partners have a right of first refusal. The Maloofs control 65 percent, the limiteds control the rest.

Read more here: http://www.sacbee.com/2013/01/24/513...#storylink=cpy

Inigo_Montoya · Post #339 » by **Inigo_Montoya** » Thu Jan 24, 2013 6:28 pm

Hmm, I can see the Maloofs **** that up but I can't see Hansen and co overlooking something like that.

Post #340 » by **KF10** » Thu Jan 24, 2013 10:09 pm

Inigo_Montoya wrote:Hmm, I can see the Maloofs **** that up but I can't see Hansen and co overlooking something like that.

Maybe that "nonrefundable" $30m that the Hanson group gave to the Maloofs was a cash advance for them to buy the 7%??

I hope one of the minority owner teams up with Burkle/Mastrov and obliterate the Maloof's chance of moving the team to Seattle. If Burkle's group gets the 7%, they can use the "right of first refusal" and directly purchase the team from the Maloofs.