Seattle group gets Kings

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Re: Seattle group gets Kings 

Post#301 » by ~73aLL372~ » Wed Jan 23, 2013 5:05 am

Phil XI wrote:
~73aLL372~ wrote:

Thats fine. Another reason why I think the We Are Not For Sale stand is valid is the fact that the Maloofs had animosity towards the city of Sac after ruining their perfect plans of escaping to Anaheim. That combined with the fact that the Kings were all they had are very valid points supporting the notion that the local buyers never really had a chance to step in.


I agree with you on their motives. They are rats. But legally and from what we know about them, they can hide behind the fact that they " its not for sale" to in fact drum up the price tag. Look what took place,Anaheim, New Arena, Virginia Beach, Seattle. It's all a very obvious attempt to raise the value of their franchise.

But like I said, you guys will all see the truth in the next few weeks. I strongly believe in KJ and the probability of us saving the team. We've done it before and we'll do it again.


As per the quote above. If the end game is most money and stay in Sacramento that would be great for Sac. I just don't think and or trust the Maloofs are looking out for any other interests but them.

And that point is the worst for Sac Fan because the Maloofs don't seem to care about them.


Yea, they're complete scumbags that don't deserve the money they inherited. In the end though, it will be the BOG that decides who wins and who doesn't, not the Maloofs. Best case scenario, Sac wins the match but Seattle gets their expansion team. Both cities deserve a team with owners that actually give a damn.
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Re: Seattle group gets Kings 

Post#302 » by WhamBamSlamm » Wed Jan 23, 2013 5:06 am

I have full confidence Stern will tell Maloofs to sell to Burkle/Mastrov and keep the team in Sacramento, he doesn''t want a deserving city see their team leave again
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Re: Seattle group gets Kings 

Post#303 » by catch22 » Wed Jan 23, 2013 5:09 am

WhamBamSlamm wrote:I have full confidence Stern will tell Maloofs to sell to Burkle/Mastrov and keep the team in Sacramento, he doesn''t want a deserving city see their team leave again


If Stern had that kind of power it would have already happened.
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Re: Seattle group gets Kings 

Post#304 » by Winsome Gerbil » Wed Jan 23, 2013 5:10 am

catch22 wrote:
WhamBamSlamm wrote:Haha told you all Sacramento will keep the team. No chance Stern lets Maloofs turn down 3 billion dollar man Burkle.

Better luck next time Seattle fans, if there will be a next time :)



Stop acting like anything is decided either way, it's getting old.

I don't know what stops the Seattle group from just upping the offer again if the Sacramento group matches the current offer.


Just thinking about this, I don't know when the board of governor's meeting is to decide all this, but the thing is I am not sure that the Sacramento group will have to announce its offer until that time. Seattle already has a signed contract on record with the league so we know their number, but the Sacramento group isn't going to have to sign anything public and I don't know why they would even provide the Seattle team time to modify their offer before the meeting. I guess Hansen could just bid against himself just because of the names on the other side, but that doesn't seem very likely. These guys didn't get to become billionaires by just throwing away hundreds of millions like it was candy.

I'm going to go back to hoping Stern takes Hansen/Ballmer aside in the next few months and guarantees them an expansion franchise if they bow out graciously at the meeting. Win/win and all that.
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Re: Seattle group gets Kings 

Post#305 » by catch22 » Wed Jan 23, 2013 5:13 am

Winsome Gerbil wrote:
catch22 wrote:
WhamBamSlamm wrote:Haha told you all Sacramento will keep the team. No chance Stern lets Maloofs turn down 3 billion dollar man Burkle.

Better luck next time Seattle fans, if there will be a next time :)



Stop acting like anything is decided either way, it's getting old.

I don't know what stops the Seattle group from just upping the offer again if the Sacramento group matches the current offer.


Just thinking about this, I don't know when the board of governor's meeting is to decide all this, but the thing is I am not sure that the Sacramento group will have to announce its offer until that time. Seattle already has a signed contract on record with the league so we know their number, but the Sacramento group isn't going to have to sign anything public and I don't know why they would even provide the Seattle team time to modify their offer before the meeting. I guess Hansen could just bid against himself just because of the names on the other side, but that doesn't seem very likely. These guys didn't get to become billionaires by just throwing away hundreds of millions like it was candy.

I'm going to go back to hoping Stern takes Hansen/Ballmer aside in the next few months and guarantees them an expansion franchise if they bow out graciously at the meeting. Win/win and all that.




I'm not sure how the Sacramento group could pull that off without the Seattle group knowing or getting a chance to bid again. It seems like it could get ugly legally.

I would be all for the expansion scenario, though. Just seems unlikely right now.
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Re: Seattle group gets Kings 

Post#306 » by deNIEd » Wed Jan 23, 2013 5:15 am

Winsome Gerbil wrote:Just thinking about this, I don't know when the board of governor's meeting is to decide all this, but the thing is I am not sure that the Sacramento group will have to announce its offer until that time. Seattle already has a signed contract on record with the league so we know their number, but the Sacramento group isn't going to have to sign anything public and I don't know why they would even provide the Seattle team time to modify their offer before the meeting. I guess Hansen could just bid against himself just because of the names on the other side, but that doesn't seem very likely. These guys didn't get to become billionaires by just throwing away hundreds of millions like it was candy.

I'm going to go back to hoping Stern takes Hansen/Ballmer aside in the next few months and guarantees them an expansion franchise if they bow out graciously at the meeting. Win/win and all that.



I'm pretty sure it doesn't work like that.


The agreement the Maloofs signed with Hansen is a binding agreement. The Maloofs cannot entertain other offers, nor can the Hansen group modify or retract their offer.

What could happen is, if the BOG rejects the sale to Seattle, then the Maloofs can entertain other offers and the Hansen group can resubmit a different offer (while the Maloofs pocket $30 million).
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Re: Seattle group gets Kings 

Post#307 » by Winsome Gerbil » Wed Jan 23, 2013 5:20 am

deNIEd wrote:
Winsome Gerbil wrote:Just thinking about this, I don't know when the board of governor's meeting is to decide all this, but the thing is I am not sure that the Sacramento group will have to announce its offer until that time. Seattle already has a signed contract on record with the league so we know their number, but the Sacramento group isn't going to have to sign anything public and I don't know why they would even provide the Seattle team time to modify their offer before the meeting. I guess Hansen could just bid against himself just because of the names on the other side, but that doesn't seem very likely. These guys didn't get to become billionaires by just throwing away hundreds of millions like it was candy.

I'm going to go back to hoping Stern takes Hansen/Ballmer aside in the next few months and guarantees them an expansion franchise if they bow out graciously at the meeting. Win/win and all that.



I'm pretty sure it doesn't work like that.


The agreement the Maloofs signed with Hansen is a binding agreement. The Maloofs cannot entertain other offers, nor can the Hansen group modify or retract their offer.

What could happen is, if the BOG rejects the sale to Seattle, then the Maloofs can entertain other offers and the Hansen group can resubmit a different offer (while the Maloofs pocket $30 million).


A binding offer can typically be revoked if both parties agree to revoke it. Unless because they submitted it to the NBA it became sealed, which I guess is possible since it is a franchise situation. The NBA could effectively be the selling party.
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Re: Seattle group gets Kings 

Post#308 » by Gilles » Wed Jan 23, 2013 5:22 am

Scott Howard-Cooper ‏@SHowardCooper
Board of Governors meeting that will include Kings / Seattle / Sacramento showdown scheduled for April 18-19.

catch22 wrote:
WhamBamSlamm wrote:Haha told you all Sacramento will keep the team. No chance Stern lets Maloofs turn down 3 billion dollar man Burkle.
Better luck next time Seattle fans, if there will be a next time :)

Stop acting like anything is decided either way, it's getting old.
I don't know what stops the Seattle group from just upping the offer again if the Sacramento group matches the current offer.
Also, I think some people are downplaying that there's a signed agreement in place to sell the team to the Seattle group. Yes, the BOG has to approve it, but they also need a valid reason to reject it. Is another group matching the offer a good enough reason? I don't know.
The NBA dictating who owners can and cannot sell to(unless they're not financially able) is asking for trouble in my eyes.

See a case of Minnesota, 1994.

catch22 wrote:
WhamBamSlamm wrote:I have full confidence Stern will tell Maloofs to sell to Burkle/Mastrov and keep the team in Sacramento, he doesn''t want a deserving city see their team leave again

If Stern had that kind of power it would have already happened.
He obviously can't order owners to do anything, especially on the matter decided by BOG. But he can push them a bit in the right direction.
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Re: Seattle group gets Kings 

Post#309 » by catch22 » Wed Jan 23, 2013 5:31 am

Gilles wrote:Scott Howard-Cooper ‏@SHowardCooper
Board of Governors meeting that will include Kings / Seattle / Sacramento showdown scheduled for April 18-19.

catch22 wrote:
WhamBamSlamm wrote:Haha told you all Sacramento will keep the team. No chance Stern lets Maloofs turn down 3 billion dollar man Burkle.
Better luck next time Seattle fans, if there will be a next time :)

Stop acting like anything is decided either way, it's getting old.
I don't know what stops the Seattle group from just upping the offer again if the Sacramento group matches the current offer.
Also, I think some people are downplaying that there's a signed agreement in place to sell the team to the Seattle group. Yes, the BOG has to approve it, but they also need a valid reason to reject it. Is another group matching the offer a good enough reason? I don't know.
The NBA dictating who owners can and cannot sell to(unless they're not financially able) is asking for trouble in my eyes.

See a case of Minnesota, 1994.



From what I've read, most of the reason for that rejection were questions about the ownership groups financial viability.
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Re: Seattle group gets Kings 

Post#310 » by deNIEd » Wed Jan 23, 2013 5:39 am

Winsome Gerbil wrote:A binding offer can typically be revoked if both parties agree to revoke it. Unless because they submitted it to the NBA it became sealed, which I guess is possible since it is a franchise situation. The NBA could effectively be the selling party.



Yep.

I don't have the exact details of the situation, but from all I read (for everyone else who isn't clear), the current situation is essentially this.

Maloofs and Seattle have agreed to a deal. In this deal, the price of $525 million is set and cannot be changed. The Maloofs cannot entertain any other offers nor can Seattle (Hansen) change his offer at all. However, the NBA BOG can reject or approve the sale.

If they approve it. It's pretty straight forward.

If they reject it, then the Maloofs can entertain any other offer out there (which is what Sacramento and Johnson is preparing, an offer that can be entertained the moment the BOG rejects the current deal...if they reject it at all).
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Re: Seattle group gets Kings 

Post#311 » by ThEMvP » Wed Jan 23, 2013 6:13 am

deNIEd wrote:
Winsome Gerbil wrote:A binding offer can typically be revoked if both parties agree to revoke it. Unless because they submitted it to the NBA it became sealed, which I guess is possible since it is a franchise situation. The NBA could effectively be the selling party.



Yep.

I don't have the exact details of the situation, but from all I read (for everyone else who isn't clear), the current situation is essentially this.

Maloofs and Seattle have agreed to a deal. In this deal, the price of $525 million is set and cannot be changed. The Maloofs cannot entertain any other offers nor can Seattle (Hansen) change his offer at all. However, the NBA BOG can reject or approve the sale.


If they approve it. It's pretty straight forward.

If they reject it, then the Maloofs can entertain any other offer out there (which is what Sacramento and Johnson is preparing, an offer that can be entertained the moment the BOG rejects the current deal...if they reject it at all).

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.
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Re: Seattle group gets Kings 

Post#312 » by RIPskaterdude » Wed Jan 23, 2013 6:21 am

It's not over for Sacramento just yet 8-)
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Re: Seattle group gets Kings 

Post#313 » by boogie-reke » Wed Jan 23, 2013 6:23 am

ThEMvP wrote:
~73aLL372~ wrote: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 - and closed a deal without actually giving Sacramento a chance to match or make their own fairly.
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Re: Seattle group gets Kings 

Post#314 » by ComboGuardCity » Wed Jan 23, 2013 6:28 am

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

Post#315 » by boogie-reke » Wed Jan 23, 2013 6:30 am

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.
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Re: Seattle group gets Kings 

Post#316 » by RIPskaterdude » Wed Jan 23, 2013 6:32 am

ComboGuardCity wrote: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.
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Re: Seattle group gets Kings 

Post#317 » by ThEMvP » Wed Jan 23, 2013 6:33 am

boogie-reke wrote:
ThEMvP wrote:
~73aLL372~ wrote: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.
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Re: Seattle group gets Kings 

Post#318 » by G R E Y » Wed Jan 23, 2013 6:34 am

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!
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Re: Seattle group gets Kings 

Post#319 » by catch22 » Wed Jan 23, 2013 6:35 am

boogie-reke wrote: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.
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Re: Seattle group gets Kings 

Post#320 » by RIPskaterdude » Wed Jan 23, 2013 6:36 am

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.
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