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Ron Burkle Out as Potential New Owner
Posted: Mon Apr 8, 2013 10:07 pm
by ICMTM
Ron Burkle is no longer part of the Sacramento group because his ownership interest in Relativity Media, which has a division that represents NBA players, would violate NBA rules," Bass said.
The development is considered a non-factor when it comes to the strength of Sacramento's bid, however, as Golden State Warriors minority owner, Vivek Ranadive, 24 Hour Fitness Founder Mark Mastrov and the Jacobs family that founded Qualcomm in San Diego will head the group both in terms of buying the team and funding that $488 million arena that will come with $258 million in public subsidies. Burkle was also expected to be heavily involved the building of Sacramento's downtown arena, but he will now focus solely on the economic development around the arena.
http://www.usatoday.com/story/sports/nb ... a/2064661/
Re: Ron Burkle Out as Potential New Owner
Posted: Mon Apr 8, 2013 10:58 pm
by Wolfay
Also the Seattle deal is
heavily leveraged, by like half a billion dollars.
http://www.sactownroyalty.com/2013/4/8/ ... -much-lessIt seems like neither side got the news they wanted to hear today, although I think you could argue Burkle existing is a good thing, since the Maloofs despise the guy.
Re: Ron Burkle Out as Potential New Owner
Posted: Tue Apr 9, 2013 3:36 am
by SacKingZZZ
I had no idea he was even going to get a piece of the team.
Re: Ron Burkle Out as Potential New Owner
Posted: Tue Apr 9, 2013 8:43 am
by AnDrOiDKing4
If the NBA is talking about it, that means that they must of had talks with Sacramento letting them know about Burkle. I can only see that as a good thing. Why would they even worry about Burkle otherwise?
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 5:15 pm
by kevin44
Sacramento's bid is a mess. Seattle is so far ahead of us. Losing Burkle last minute like this is not good. It will be a miracle if this team stays here.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 5:50 pm
by YC42Balla
kevin44 wrote:Sacramento's bid is a mess. Seattle is so far ahead of us. Losing Burkle last minute like this is not good. It will be a miracle if this team stays here.
Fan of the year award goes to this freakin' guy. Dude, Eeyore, you're so pessimistic.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 6:15 pm
by kevin44
By allowing this team to move to Seattle at this price benefits all NBA owners. The Warriors sold for $450 million, beating the previous NBA record—$401 million. If the Kings sell for $525 million then all franchises just went way up in value. Seattle is the 12th biggest television market in the country, while Sacramento ranks 20th. Seattle will sell out for the next 5 years at least. I am just being realistic. If The Maloofs had given us more time to put together a bid then we would of had a much better chance, but they want to punish us for not buying their crappy product over the years.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 8:44 pm
by YC42Balla
kevin44 wrote:By allowing this team to move to Seattle at this price benefits all NBA owners. The Warriors sold for $450 million, beating the previous NBA record—$401 million. If the Kings sell for $525 million then all franchises just went way up in value. Seattle is the 12th biggest television market in the country, while Sacramento ranks 20th. Seattle will sell out for the next 5 years at least. I am just being realistic. If The Maloofs had given us more time to put together a bid then we would of had a much better chance, but they want to punish us for not buying their crappy product over the years.
The fact of the matter is, we all know we're in a predicament here. I don't think there is a Kings fan out there not worried about the current state of the Sacramento Kings. It sucks, I mean, The Kings have a strong chance of leaving Sacramento. It's a very realistic situation, no doubt, but why add anymore negativity to the table? There is enough negativity online from articles and media news outlets. Let's leave the negativity there and hope for a more optimistic outcome. We have just as good of a chance to obtain the Kings as Seattle does. It comes down to a vote by the BOG.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 9:24 pm
by bibby1023
kevin44 wrote:Sacramento's bid is a mess. Seattle is so far ahead of us. Losing Burkle last minute like this is not good. It will be a miracle if this team stays here.
You know what our bid is? Damn you must have some pretty good inside sources...Care to share?
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:07 pm
by kevin44
It doesn't really matter what our bid is. Either the owners will approve the Seattle group or I believe the Maloofs will keep the team for now. The Maloofs could have worked with our group to keep the Kings & build a new arena. Instead they basically made a deal behind our backs with Seattle. I think our only chance to keep the Kings is if the local group matched the Seattle price. The other problem is that 30 million non refundable deposit given to the Maloofs. If the Seattle group doesn't win the team the NBA will be sued by them.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:37 pm
by bibby1023
kevin44 wrote:It doesn't really matter what our bid is. Either the owners will approve the Seattle group or I believe the Maloofs will keep the team for now. The Maloofs could have worked with our group to keep the Kings & build a new arena. Instead they basically made a deal behind our backs with Seattle. I think our only chance to keep the Kings is if the local group matched the Seattle price. The other problem is that 30 million non refundable deposit given to the Maloofs. If the Seattle group doesn't win the team the NBA will be sued by them.
Sorry but a lot of you're statements are completely false. The 30 million dollars the Seattle group gave to the Maloofs would be paid back to them by the Sacramento group, if and when the Kings are sold to them. Right it doesn't matter what our bid is any more, because Stern said in a presser that the difference between the bids is no longer the issue, and now the BOG is starting to look towards the arena parts of both offers....
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:37 pm
by bibby1023
Anyways some news broke out just about an hour ago on twitter....
The Maloof family has given the Sacramento investors seeking to buy the Kings until 5 p.m. Friday to submit a written, binding "back-up" offer that matches the deal the family has in place to sell the franchise to a group in Seattle, a source close to the deal told The Bee today.
The source told the Bee that if the Maloofs receive a matching offer by Friday, they will consider it as a serious back-up proposal should the NBA nullify their tentative deal with Seattle. If the offer doesn't arrive, or doesn't match the Seattle bid, the Maloofs have said any talks are off with the Sacramento group. The source declined further comment about who issued the ultimatum, when, or why
Read more here:
http://www.sacbee.com/2013/04/10/533215 ... rylink=cpy
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:49 pm
by kevin44
That's great news, but I still don't trust the Maloofs. My gut feeling is the Kings are gone. I can't see the owners turning away what would be the wealthiest ownership in the NBA.
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:53 pm
by bibby1023
kevin44 wrote:That's great news, but I still don't trust the Maloofs. My gut feeling is the Kings are gone. I can't see the owners turning away what would be the wealthiest ownership in the NBA.
All we need is 8 votes, pretty sure Golden State will be on our side, so that means 7 votes from 28 teams....seems plausible
Re: Ron Burkle Out as Potential New Owner
Posted: Wed Apr 10, 2013 10:58 pm
by bibby1023
Bryan May @BMayNews10 12m
If Sac offer matches Sea offer $ for $, then Maloofs are basically out of process & it's up to NBA BoG to determine winning offer.
Stern says offers are no longer it issue....its put to BOG from here on out
Re: Ron Burkle Out as Potential New Owner
Posted: Thu Apr 11, 2013 1:35 am
by AnDrOiDKing4
bibby1023 wrote:Bryan May @BMayNews10 12m
If Sac offer matches Sea offer $ for $, then Maloofs are basically out of process & it's up to NBA BoG to determine winning offer.
Stern says offers are no longer it issue....its put to BOG from here on out
Anything to get those **** goofballs out of the process. Do it we should have more than enough money.