Seattle group gets Kings

[RIPskaterdude]

So you're telling me if Burkle offered 600mill, he wouldn't sell to him? Get real. The Maloofs are all about money.

They didn't even listen to his offers, as they told him and everyone that they are NOT for sale for the past 5 years.

[ThEMvP]

Anyways, the lack of competence of this board never ceases to amaze me. Don't try to comment and make up stupid facts about the situation when you really don't know whats going on. I read a lot of people saying that this 20 million dollars is all that the major has going for his campaign right now. LOL STFU, you don't know anything. Who says that KJ needed to reveal everything during this one press conference, that is just idiotic as he still has time. The actual announcement of the MAJOR owners looking to buy a stake in the team will come later this week so calm down. There is something going on behind the scenes so don't count Sactown out. KJ has not been sitting on his ass before this announcement came, it was just a matter of when it was going to come.

I assume you're talking about me? I'm going to try to respond as respectfully as I can without resorting to personal attacks since that seems rather childish.
First off we're commenting on made up and 'stupid facts' when we don't really know what's going on. Well, aren't you commenting on speculation as well thinking that KJ will pull something off? As of right now, no one knows for sure what's going to happen. His conference today might signal he has something up his sleeve, or that he's out of options and just buying time and creating publicity to find new money. KJ's had years to raise money to buy the Kings, and they were valued at a much lower price back in 2010 than the $525mm today. If he couldn't find enough buyers back then, how else is he going to find buyers now?

Err, he did find buyers - what part of the Maloofs saying "TEAM NOT FOR SALE" for the past 2-3 years don't you guys understand?

They confirmed Ron Burkle (net worth of over 3 billion) approached them, and told him over the media and I quote "You can tell Ron Burkle to go back to wherever he came from, cause we're not selling" - and continued to say so until suddenly the Seattle news broke

So they basically said to Sacramento buyers who wanted to buy the team "no, we're not selling" - but went behind the back of Sacramento and tried to sell it to VB, Seattle instead.

Perhaps you should've continued reading the rest of my post. No one knows why, after repeatedly saying the team's not for sale, why the Maloofs chose to break a deal with the Seattle group. But like I keep saying, everyone/everything has a price. If your house was valued at $300k, and someone offered you $525k, would you not think about selling it (even though you have no intentions on doing so?) Maybe perhaps the Seattle group offered a ton of money that they couldn't refuse? Like I mentioned in recent posts, the Kings had a valuation of $300mm, and the Seattle group struck a deal valueing it at $525mm. Maybe the Seattle group wanted the team so badly they felt it was worth it to offer $225mm OVER the valuation?
Now it's up to the new Sacramento group to see how badly they want to keep the Kings in town and if they're match this valuation.

[GREY 1769]

Any insight as to why they'd to that, though? It's like they drove away competition that could up the price. Seattle group I think is giving them $30M regardless of what happens now ok, but maybe they could have gotten more. It's like they're hell bent on telling Sac GTFO, this after crying literally tears of joy when they were helped out by KJ and the league to stay there. SMH... they are SO weird!

[catch22]

Are you guys daft? They won't even talk to Sacramento buyers, and shut them down at the door.

How is that not getting through your heads? Is the fact that they went undercover while claiming team is "NOT FOR SALE" and negotiated with other cities not enough?

Is the fact that they closed the deal with Seattle in haste without even talking or giving Sacramento a chance to match or bid higher not enough?

You guys consistently continue to ignore facts.

If they were all about the money, why didn't they give Sacramento time to match or make a bid? why did they close the deal is such haste and force the Kings to make their bid in the BOG meeting? Answer that why don't you.

There's zero logical reason that if they had been offered $600M that they wouldn't have sold to a local ownership group. The Maloofs are terrible owners and might be pissed at Sacramento, but it's pretty obvious they only care about one thing and that''s themselves. Are you telling me they're so pissed at Sacramento they would screw themselves to hold onto a grudge? I don't buy that.

[RIPskaterdude]

That's not how business works. You don't just approach someone offering way more than it's actual value when they keep saying "We aren't for sale". The Maloofs were so offended by Burkle even saying he wanted to buy the team that they ignored any attempt by Burkle and the city of Sacramento to even entertain the thought of buying the Kings.

[boogie-reke]

If you guys read and understand all the situation and how things went, and still don't realize the Maloofs don't want to sell to Sacramento "JUST BECAUSE", unless they are forced to do so - then I have nothing to talk to anyone of you.

Simple. If they were about the money, they would admit the team is up for sale when they hiddenly negotiated with other cities.

If they were about the money, they would give Sacramento or any other group time to match or up the price of Seattle, as any reasonable man would do cause they know others are trying and willing to buy the team.

If they were about the money, they would not close the deal so fast with such short notice all of a sudden, and make Sacramento make their bid in the BOG meeting, and try make the NBA to force them into selling to Sacramento.

They are without a doubt trying to stick it to Sacramento, and if you're too blind to see that, well, I feel sorry for you.

[RIPskaterdude]

Are you guys daft? They won't even talk to Sacramento buyers, and shut them down at the door.

How is that not getting through your heads? Is the fact that they went undercover while claiming team is "NOT FOR SALE" and negotiated with other cities not enough?

Is the fact that they closed the deal with Seattle in haste without even talking or giving Sacramento a chance to match or bid higher not enough?

You guys consistently continue to ignore facts.

If they were all about the money, why didn't they give Sacramento time to match or make a bid? why did they close the deal is such haste and force the Kings to make their bid in the BOG meeting? Answer that why don't you.

There's zero logical reason that if they had been offered $600M that they wouldn't have sold to a local ownership group. The Maloofs are terrible owners and might be pissed at Sacramento, but it's pretty obvious they only care about one thing and that''s themselves. Are you telling me they're so pissed at Sacramento they would screw themselves to hold onto a grudge? I don't buy that.

They didn't even let Sacramento match or offer anything, saying they were NOT for sale and then doing an under the table deal with the Seattle group. So yes, it sure sounds like a grudge to me.

[Inigo_Montoya]

So you're telling me if Burkle offered 600mill, he wouldn't sell to him? Get real. The Maloofs are all about money.

The thing is the Maloofs are not about the money. You cannot assume that they have behaved like rational businessmen in the past. Look at their history of investments: The Palms, skateboard contests, record labels, cake flavored vodka and so on. They are all about image, nothing else. If they were serious about money they never would have given up their one sure thing- their dad's beer distributorship.

[ThEMvP]

So you're telling me if Burkle offered 600mill, he wouldn't sell to him? Get real. The Maloofs are all about money.

They didn't even listen to his offers, as they told him and everyone that they are NOT for sale for the past 5 years.

Maybe the Maloofs felt that whatever Sacramento/Burkle offered wouldn't be a high enough offer, and it would only marginally be higher than the market valuation?

Until Seattle called up and offered them $525mm, and totally blew their minds out with this high figure? In the end, money talks.

No one knows, but it could've very well been something like this:
Burkle: I want to buy the Kings
Maloofs: No, sorry it's not for sale (thinking that whatever they offer would only be market valuation + a small goodwill)

Hansen: I'll pay $525mm, $30mm guaranteed by Feb if you keep this a secret and not shop the offer around
Maloofs: Deal

[boogie-reke]

Are you guys daft? They won't even talk to Sacramento buyers, and shut them down at the door.

How is that not getting through your heads? Is the fact that they went undercover while claiming team is "NOT FOR SALE" and negotiated with other cities not enough?

Is the fact that they closed the deal with Seattle in haste without even talking or giving Sacramento a chance to match or bid higher not enough?

You guys consistently continue to ignore facts.

If they were all about the money, why didn't they give Sacramento time to match or make a bid? why did they close the deal is such haste and force the Kings to make their bid in the BOG meeting? Answer that why don't you.

There's zero logical reason that if they had been offered $600M that they wouldn't have sold to a local ownership group. The Maloofs are terrible owners and might be pissed at Sacramento, but it's pretty obvious they only care about one thing and that''s themselves. Are you telling me they're so pissed at Sacramento they would screw themselves to hold onto a grudge? I don't buy that.

Why did they tell Sacramento potential buyers(and specifically Burkle) the team isn't for sale everywhere, despite negotiating with other cities like thieves in the night?

Why did they not allow or give Sacramento time to match or up the Seattle bid?

Answer me.

[deNIEd]

Wait...what? I thought the whole point Stern made to KJ was that he could proceed and get an ownership group together and present it to the BOG, then the BOG could choose between the two offers?

If the only chance for KJ to present his offer, is AFTER the BOG rejects Seattle's deal...then the Kings are pretty much gone? I don't see how the owners would vote against any move, as each owner would individually like their colleague's support in case they would like to move their franchises sometime down the line. Also the relocation money gets split between the owners, another added revenue.

It is.

But the Maloofs cannot entertain any offers. Meaning they personally are not able to go out and look for a better deal. KJ isn't really looking to present his offer to the Maloofs, its to the NBA and BOG.

[RIPskaterdude]

So you're telling me if Burkle offered 600mill, he wouldn't sell to him? Get real. The Maloofs are all about money.

They didn't even listen to his offers, as they told him and everyone that they are NOT for sale for the past 5 years.

Maybe the Maloofs felt that whatever Sacramento/Burkle offered wouldn't be a high enough offer, and it would only marginally be higher than the market valuation?

Until Seattle called up and offered them $525mm, and totally blew their minds out with this high figure? In the end, money talks.

No one knows, but it could've very well been something like this:
Burkle: I want to buy the Kings
Maloofs: No, sorry it's not for sale (thinking that whatever they offer would only be market valuation + a small goodwill)

Hansen: I'll pay $525mm, $30mm guaranteed by Feb if you keep this a secret and not shop the offer around
Maloofs: Deal

If they were all about the money, they would start up a bidding war for the team, NOT signing the highest offer given, moving on and not letting anyone else match it. By the way, Sacramento doesn't have to offer $525 million (they aren't paying that, that's just the value of the team entirely, it's more around $340 million), they can simply say, work with us, we'll pay off your loan, give you the same amount, etc etc.

[ThEMvP]

If you guys read and understand all the situation and how things went, and still don't realize the Maloofs don't want to sell to Sacramento "JUST BECAUSE", unless they are forced to do so - then I have nothing to talk to anyone of you.

Simple. If they were about the money, they would admit the team is up for sale when they hiddenly negotiated with other cities.

If they were about the money, they would give Sacramento or any other group time to match or up the price of Seattle, as any reasonable man would do cause they know others are trying and willing to buy the team.

If they were about the money, they would not close the deal so fast with such short notice all of a sudden, and make Sacramento make their bid in the BOG meeting, and try make the NBA to force them into selling to Sacramento.

They are without a doubt trying to stick it to Sacramento, and if you're too blind to see that, well, I feel sorry for you.

Think about it from a business sense, you're totally thinking from the opposite here.

Whether you're buying a car from the dealership, a home, or in the general business world, a potential buyer can approach the owner, and go:
Buyer: I want to buy this asset, I'll pay X amount over market value, and pay you Y upfront, but you must accept the offer by Z date, and will not be allowed to shop our offer around.
Obviously for a car dealership you wouldn't pay over market value, but I think this example is very clear.

[RIPskaterdude]

If you guys read and understand all the situation and how things went, and still don't realize the Maloofs don't want to sell to Sacramento "JUST BECAUSE", unless they are forced to do so - then I have nothing to talk to anyone of you.

Simple. If they were about the money, they would admit the team is up for sale when they hiddenly negotiated with other cities.

If they were about the money, they would give Sacramento or any other group time to match or up the price of Seattle, as any reasonable man would do cause they know others are trying and willing to buy the team.

If they were about the money, they would not close the deal so fast with such short notice all of a sudden, and make Sacramento make their bid in the BOG meeting, and try make the NBA to force them into selling to Sacramento.

They are without a doubt trying to stick it to Sacramento, and if you're too blind to see that, well, I feel sorry for you.

Think about it from a business sense, you're totally thinking from the opposite here.

Whether you're buying a car from the dealership, a home, or in the general business world, a potential buyer can approach the owner, and go:
Buyer: I want to buy this asset, I'll pay X amount over market value, and pay you Y upfront, but you must accept the offer by Z date, and will not be allowed to shop our offer around.
Obviously for a car dealership you wouldn't pay over market value, but I think this example is very clear.

Then obviously, they aren't about the money, or they would have let a bidding war start. Just report how much was offered and see where it goes.

[boogie-reke]

So you're telling me if Burkle offered 600mill, he wouldn't sell to him? Get real. The Maloofs are all about money.

They didn't even listen to his offers, as they told him and everyone that they are NOT for sale for the past 5 years.

Maybe the Maloofs felt that whatever Sacramento/Burkle offered wouldn't be a high enough offer, and it would only marginally be higher than the market valuation?

Until Seattle called up and offered them $525mm, and totally blew their minds out with this high figure? In the end, money talks.

No one knows, but it could've very well been something like this:
Burkle: I want to buy the Kings
Maloofs: No, sorry it's not for sale (thinking that whatever they offer would only be market valuation + a small goodwill)

Hansen: I'll pay $525mm, $30mm guaranteed by Feb if you keep this a secret and not shop the offer around
Maloofs: Deal

Are you freaking kidding me with that godawful exchange and logic?

Yea, Burkle, a man who's worth over 3 billion dollars, would just get shot down at the door and be told "Tell Ron Burkle to return to where ever he came from" on the press, cause they THINK that he might make a "low" bid (What indication do they have to think that? is it the over 3 billion dollar net worth?).

Just stop talking if you're not really understanding and living this situation to know what - and most importantly WHO - you're talking about.