OT: Ducks owner trying to lure NBA Kings to Anaheim

[dockingsched]

http://www.ocbj.com/news/2011/jan/13/re ... lls-sacra/

Sports radio and websites are buzzing with speculation that a full-court press is on to try and bring basketball’s Sacramento Kings to Honda Center in Anaheim.

The latest: Broadcom Corp. cofounder Henry Samueli, who owns the Anaheim Ducks hockey team and Honda Center's operating company, has offered the Kings a $100 million loan to help spur a move, according to a Sacramento sports radio station.

Samueli tried to buy the basketball team last year, the station reported, citing unnamed sources.

The Kings are in play amid financial issues at the Maloof family, which owns the team, and troubles securing a new Sacramento arena.

A loan from Samueli would be used to help the Maloofs shore up finances and pay the Los Angeles Clippers and Los Angeles Lakers for rights to play in Southern California, according to the report.

The Maloofs would retain ownership of the team. Samueli would gain a stake if they defaulted on the loan.

Michael Schulman, chairman of Honda Center operator Anaheim Arena Management LLC and one of Samueli’s closest confidants, said last year there’s a bettern than 50% chance the arena will add a National Basketball Association team in the next five years.

Honda Center and its Southern California location make it the “No. 1 option” for a basketball team looking to upgrade to a bigger market, said Schulman, who’s also chief executive of Honda Center’s Anaheim Ducks.

Honda Center already hosts college basketball games and some Los Angeles Lakers exhibition games.

In 2008, Anaheim was in the running to land the Seattle SuperSonics before that team became the Oklahoma City Thunder.

Sacramento business leaders and politicians are trying to hammer out a plan for a new arena to keep the Kings in the city.

Oracle Corp. Chief Executive Larry Ellison also could bid on the team to bring it to San Jose.

[Beryl 96]

I'm assuming the Kings would change their name...Would seem a little awkward for them to keep it given Anaheim's rivalry with hockey's Kings...

[dockingsched]

http://basketball.realgm.com/wiretap/21 ... to_Maloofs

Included in the $75 million package that the city of Anaheim is using to lure the Sacramento Kings to Southern California is a $50 million loan to the Maloof family from the organization that runs the Honda Center.

The Maloofs have been negotiating for weeks with Orange County billionaire Henry Samieli, who manages the Honda Center for the city and owns the arena's main tenant, the NHL's Anaheim Ducks.

Samueli's arena-management company is offering to spend $25 million to upgrade the building, including new locker rooms, office space, and other improvements.

In addition, Samueli would pay for $50 million in "transition costs." Sources have said those costs would include the relocation fee imposed by the NBA, which could run to $30 million or more.

The city is proposing to issue $75 million in bonds to cover those expenses, but Samueli's organization would be responsible for repayment.

The Maloofs in turn would commit to repaying $50 million to Samueli.

Also Saturday, the Kings issued a statement rejecting a plan by former Kings officials to renovate Power Balance Pavilion in Sacramento.

[dockingsched]

http://sportsillustrated.cnn.com/2011/b ... .kings.ap/

ANAHEIM, Calif. (AP) -- The Anaheim city council has unanimously approved a $75 million bond deal to entice the Sacramento Kings to relocate to Orange County.

The city council voted 5-0 for the measure to a round of applause from a packed City Hall meeting room Tuesday night, calling it another major step in luring the Kings to Honda Center.

Anaheim Mayor Tom Tait repeatedly emphasized the city has no financial risk in the deal. Tait says Anaheim is a conduit for a private investment by Henry Samueli, the billionaire owner of the NHL's Anaheim Ducks.

Samueli also manages the city-owned arena, and he's putting his own money into a deal for upgrades to Honda Center and other moving costs.

The Kings must file for relocation by April 18.

[chad123]

calling it another major step in luring the Kings to Honda Center.