Kings & Hansen saga

[Sweezo]

Now there's word that this "firm" 5:00 p.m. matching deadline is being extended by the Maloofs. I feel like we're being rope-a-doped here. I don't think Hansen's group could have done any more at this point than they already have, but the Maloofs have pulled this **** before.

[sonic_brazil]

And, as we should expect, the Sac-group has decided to match the offer. They have sent a letter to the NBA telling this.

Oh, and Stern is asking this ownership group to pay the 30 million bucks Hansen and co. payed in advance by Hansen to the Maloofs. He believes this will avoid any possible lawsuit from Hansen.

[OzSonic]

Bidding war has officially started. Seattle group look to be upping the bid by $25M.

This is a mess. Maloofs would be giddy right now!

[Sweezo]

Bidding war has officially started. Seattle group look to be upping the bid by $25M.

This is a mess. Maloofs would be giddy right now!

There's also confirmation that the 7% in bankruptcy was NOT matched by any of the Sacramento group.

[Supersonics41]

OMG! Love me some chris Hansen right now!

[OzSonic]

Bidding war has officially started. Seattle group look to be upping the bid by $25M.

This is a mess. Maloofs would be giddy right now!

There's also confirmation that the 7% in bankruptcy was NOT matched by any of the Sacramento group.

Yep. Pending league approval it is Hansen's. Apparently Sacramento didn't need it, words I found very strange.

[Det the Threat]

Yep. Pending league approval it is Hansen's. Apparently Sacramento didn't need it, words I found very strange.

Well, even if the folks in Sacramento always tell you it doesn't matter etc., it's yet another thing were they haven't put their money where their mouth is.

Right after the public talked about Hansen being the only one bidding on it and other limited partners being the only ones allowed to match, they started talking about it would be matched and it was all their plan.

Now, when they're forced to put in some real money, they just don't and tell everyone it's not important.

I think it's a pretty clear sign that most of the guys in Sacramento aren't sure about their plan and actual chance of the BOG voting in their favour.

Also, Chris Hansen purchased more land(for $40 mil), making it over $100 mil the Seattle group has already spend before the BOG meeting.


Another thing of note.
That deadline by the Maloofs was pushed back to the end of the weekend and the BOG will start meeting on Monday, adding two more days to their usual schedule.
It was also rumored that Peter Holt(chairman of the owners and Spurs team owner) went into those presentations last week favouring Sacramento and left them on Seattle's side.
The reason for it were the presantations, whith Seattle impressing everyone and Sacramento not being good at all, according to those sources.

Edit:
Also, it seems like Hansen/Ballmer will up their bid, if Sacramento matches.

Chris Daniels ‏@ChrisDaniels5 2h

BREAKING: Multiple Sources confirm Hansen group raises bid on #NBAKings by $25 million dollars

https://twitter.com/ChrisDaniels5

Ian Thomsen ‏@SI_IanThomsen 2h

Seattle group officially ups Kings offer by $25m -- raising NBA record valuation to $550m, league source tells http://SI.com .

https://twitter.com/SI_IanThomsen

[Sweezo]

Also, it seems like Hansen/Ballmer will up their bid, if Sacramento matches.

Chris Daniels ‏@ChrisDaniels5 2h

BREAKING: Multiple Sources confirm Hansen group raises bid on #NBAKings by $25 million dollars

https://twitter.com/ChrisDaniels5

Ian Thomsen ‏@SI_IanThomsen 2h

Seattle group officially ups Kings offer by $25m -- raising NBA record valuation to $550m, league source tells http://SI.com .

https://twitter.com/SI_IanThomsen

Per David Aldridge, Hansen's just getting started:

http://www.nba.com/2013/news/04/13/kings-valuation-offer/index.html?ls=iref:nbahpts

Meanwhile KJ's tweeting the same old rhetoric about "playing to win" and so on. As big a presence as he's been, I think he's run out of things to say. If it's taking so long for the Sacramento group to match a proposal that would value the franchise at $525million, and now that value's been raised by $25 million...what happens if it gets pushed ever closer to $600 million?

As frustrated as I was earlier this morning, this news combined with knowing we have a better, more concrete arena plan makes me feel better about our chances. The BOG meetings start Monday...Sacramento's running out of time.

Also, here's an article on SI that really lays waste to Sacramento's proposal

http://sportsillustrated.cnn.com/nba/news/20130413/sacramento-kings-sale-david-stern-seattle/#ixzz2QJv1TJIY

[bennith13]

We are going to win. Sac can not compete with our offer our or owners or our arena plan. I am not saying its over or that its 100% or anything like that, but I feel very good about our chances. Probably what happens is that we get the team and Stern and or Silver tells the Sacramento group to keep working on their arena and that they will be up for the next team. They just don't have their act together like we do at this point in time.

[Det the Threat]

I'm feeling pretty good about it as well.

They've scrambled to get something together at the $525 mil rate and now it has just been upped with the possibility of Hansen/Ballmer even paying more then that, if needed.

Also, no matter how you feel about Stern, dude just got the league an insane price for a franchise that's not even close to being worth that kind of money.
They're all certainly wetting themselves right now.

[FNQ]

As someone who was born in Seattle, transplanted to the Bay, and had Gary Payton Sr as my NorCal league coach... I'm estatic for you guys. Loved the Sonics, hated seeing them leave, and its looking great for you guys right now.

How big of a move was it to add that 25m by Hansen? Doesnt violate his gag order either... brilliant business move. The league watched as the revolving door of Sacto investors spun, FINALLY generating a matching offer (although not officially, just stated it would be matched) after weeks of agonizing wonder.

And then Hansen raised the bar no more than 5 hours after it was reported, and basically said "there's plenty more where that came from".

boomshakalaka

Chris Hansen is a bull... and if he's an owner, I'm scared of what Seattle might accomplish.

[bennith13]

I still don't even believe that the Sac group could have matched the original valuation of the team. Yeah, they said they would match, but KJ also said that the 7% stake would be in "friendly hands" and that they would match that too. Until I see Vivek with a contract in his hand saying that he is ready to pay $525 for the team I have a hard time taking them at face value. Too much hot air coming out of the mayor's office.

[bennith13]

To add to that: Yes, Chris Hansen is the man! When he does something he himself comes out and clearly says that he is doing it. When the Sac group says they are doing something they let anonymous sources leak the info out so they don't really have to follow through. One side has the slogan "playing to win", but the other side is the actual ones playing to win... and I love it. Our guys have been so good through all of this. Calm and clear with a tangible plan. Their guys have been a clown show. Hot air and politicking with no concrete plan, just spin.

[Supersonics41]

Apparently there is a special meeting regarding the Seattle/Sacramento saga for Wednesday, with a decision expected by Friday.
I see expansion being in the cards for either side. Whether the team moves & Sac gets the expansion team or the team stays & we get the expansion team. No way the league turns its back on either side up to this point. To much money being thrown around.

[Det the Threat]

Apparently there is a special meeting regarding the Seattle/Sacramento saga for Wednesday, with a decision expected by Friday.
I see expansion being in the cards for either side. Whether the team moves & Sac gets the expansion team or the team stays & we get the expansion team. No way the league turns its back on either side up to this point. To much money being thrown around.

I'm not sure of that.
They'll talk within the "super committee" for a day to give an advice to the full BOG.
It's also been now stated that there'll be a press conference by the NBA on Friday, April 19th about the issue.

Also, it seems like the group in Sacramento won't match the new offer, nor will they put down any real money or at least have something binding(like those $30 mil) before the BOG to assure the Maloofs getting their money.

Sacramento group seeking to buy Kings discounts Seattle's increased bid

So they think:
They won't have to pay the full price
They won't send anything in writing to the Maloofs, to assure them that they'll pay the current price(even without those $25 mil) if the Seattle bid is turned down
They think the increased offer is a move of desperation by Hansen/Ballmer
They think they won't have to pay that money and don't see it as a big thing regarding "the grand thing of schemes"

So all things considered, they only work with the NBA and hope they'll turn down Seattle to get the team at the price they want to pay.
And that with no one really knowing what that number would be...

[bennith13]

The reason the Sac group needs to put down a real written binding offer is because IF the BOG did reject the Seattle offer the team would no longer be worth the $550. It is only worth that because the Seattle group made a bold offer. Once the threat of leaving is gone the Sac group can offer what they want and the Maloofs, if they are as broke as everyone thinks, will have no choice but to take. That is why if the Sac group doesn't put down a real offer here in the next 48 hours or so I do not see how the BOG can reject the Seattle offer.

[Det the Threat]

The reason the Sac group needs to put down a real written binding offer is because IF the BOG did reject the Seattle offer the team would no longer be worth the $550. It is only worth that because the Seattle group made a bold offer. Once the threat of leaving is gone the Sac group can offer what they want and the Maloofs, if they are as broke as everyone thinks, will have no choice but to take. That is why if the Sac group doesn't put down a real offer here in the next 48 hours or so I do not see how the BOG can reject the Seattle offer.

Given how everything's been for those last three months I highly doubt that they'll ever put down some real money or sign a binding document.

They hope that the NBA's with them and denies Hansen because of sympathie for them.
That would help them as the threat Seattle would then be gone and they could buy the team at a price they're more comfortable with.

[Supersonics41]

Apparently there is a special meeting regarding the Seattle/Sacramento saga for Wednesday, with a decision expected by Friday.
I see expansion being in the cards for either side. Whether the team moves & Sac gets the expansion team or the team stays & we get the expansion team. No way the league turns its back on either side up to this point. To much money being thrown around.

I'm not sure of that.
They'll talk within the "super committee" for a day to give an advice to the full BOG.
It's also been now stated that there'll be a press conference by the NBA on Friday, April 19th about the issue.

Also, it seems like the group in Sacramento won't match the new offer, nor will they put down any real money or at least have something binding(like those $30 mil) before the BOG to assure the Maloofs getting their money.

Sacramento group seeking to buy Kings discounts Seattle's increased bid

So they think:
They won't have to pay the full price
They won't send anything in writing to the Maloofs, to assure them that they'll pay the current price(even without those $25 mil) if the Seattle bid is turned down
They think the increased offer is a move of desperation by Hansen/Ballmer
They think they won't have to pay that money and don't see it as a big thing regarding "the grand thing of schemes"

So all things considered, they only work with the NBA and hope they'll turn down Seattle to get the team at the price they want to pay.
And that with no one really knowing what that number would be...

IMHO the most logical choice for the league at this point is to approve the sale. The league will then say to Sacramento, hey we couldn't put a stop to this with Seattle so clearly further down the road, but as a consolation prize (Stern in Sacramento's corner) we will award you a future team, assuming you get your duck's in a row, etc.

[FNQ]

That Sacramento rebuttal was half informative, and half ridiculous.

It was good to get better details on the stadiums for other California teams and why they are taking so long. Even the most optimistic scenario has the Kings being a year behind the Sonics though.

Calling it desperate is where it gets petty. Seattle group, thus far, hasn't gone public with their sales pitch / anti-Sac sales pitch. Sacto group has now fired the 1st shot in the media, and that to me is the most desperate act thus far. Hansen's move was genius in that it didnt violate the gag order, showed all the other NBA owners that he's a money-maker and spender, and his desire/chops to be an NBA owner.

But here are some key things that weren't addressed, that are really bothering me about the Sacramento group:

- the 210m+ difference between their current arena plan and their last plans in 04-05. Who's checking their estimates on that one?
- the fact that the Kings group is working with the NBA and Stern instead of the owners who are actually selling. I can't imagine owners are happy if Stern is really putting effort into the Sacramento group, as it sets a bad precedent for who they can sell their teams to.
- why can't the Sacto group make an offer directly to the Maloofs? Why are they ducking that to work more with the NBA?

Doesn't smell right, to be honest. Have an ominous feeling that Sacramento group is going to receive some financial help from the NBA... but no matter what the case, I can't imagine that the BOG or the majority of owners would like the Sacramento situation more than Seattle. I mean if all things were truly equal, we'd be seeing what new alternate jersey Seattle would be wearing next year. Because I'd buy that the hell out of one.

[wiff]

I haven't read every detail of what's been going on but to be perfectly honest I can't imagine that Hansen would enter into an agreement where he offered up a 30 million non refundable lump sum with the Maloofs without having word from the owners and commissioner that his chances were very good to buy the Kings and move them to Seattle. Bottom line is that the market is what someone is willing to pay for for it. Hansen clearly has the deeper pockets and that only makes it that much easier for the BOG to vote yes on the sale because it make their franchise worth more coin. And lets be honest, the other owners don't give a crap where the team ends up, otherwise the Sonics wouldn't be the Thunder. These guys are the .001% they are in it for the money period. And I couldn't agree more with the following post.

IMHO the most logical choice for the league at this point is to approve the sale. The league will then say to Sacramento, hey we couldn't put a stop to this with Seattle so clearly further down the road, but as a consolation prize (Stern in Sacramento's corner) we will award you a future team, assuming you get your duck's in a row, etc.

With Stern not moving the Hornets to OKC, and letting the Sonics go, it has created a bidding war for teams. How bad do you really want the NBA in your town? "Show me the money"!

Hansen is the man, I just hope once the Sonics are back he keeps spending and he is the next Mark Cuban.

So the BOG vote is on the 20th right?