Seattle group gets Kings

[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.

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.

I can't answer that, nobody can besides the Maloofs. There's a report that they offered the same deal to Larry Ellison and he wasn't interested. So maybe they did see if somebody would match it and nobody did. Nobody knows for sure.

[boogie-reke]

And there's reports that they refuse to sell to Sacramento owners, from the respected David Aldridge.

Quite a cop out to go with the "nobody knows" - when you're trying to tell us to use logic, yet dismiss it when we counter it.

I didn't ask you what you know, I know you know nothing, and none of us do. I asked you what this looks like - that's what we're all discussing here, how things look.

This looks like this is NOTHING about the money, and this looks like the Maloofs do not wish to sell to Sacramento unless they are forced to by the NBA.

[ThEMvP]

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.

The thing is, all the signs point towards that it has everything to do with the money. Again, Seattle could very well approach the Maloofs, offer then $525mm with an incentive $30mm guaranteed by Feb, and that they'd have to accept the offer within a certain time frame. Remember how the story leaked about a week ago that the Kings were about to move? Then all of a sudden the offer, and more details surfaceyesterday? This could've very well been the conditions Hansen laid out on the Maloofs. $X valuation, $Y guaranteed, by Z date. Take it or leave it.

And if you're the Maloofs, why wouldn't you accept this? It's guaranteed $30 million. If the NBA approves it, they get $30 mil AND the subsequent portion of the $525mm valuation. If the NBA rejects it and goes with KJ's bid, they get another $30 mil for free.

[catch22]

And there's reports that they refuse to sell to Sacramento owners, from the respected David Aldridge.

Quite a cop out to go with the "nobody knows" - when you're trying to tell us to use logic, yet dismiss it when we counter it.

I didn't ask you what you know, I know you know nothing, and none of us do. I asked you what this looks like - that's what we're all discussing here, how things look.

This looks like this is NOTHING about the money, and this looks like the Maloofs do not wish to sell to Sacramento unless they are forced to by the NBA.

So why would they shop the deal to Ellison then?

[boogie-reke]

SACRAMENTO, Calif. -- As Sacramento officials continue to prepare a counter-offer to keep the Kings from being sold to the Seattle-based group led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer, it appears they they have their money men.

According to a person with knowledge of the situation, 24-Hour Fitness Founder Mark Mastrov and billionaire Ron Burkle - who is part owner of the NHL's Pittsburgh Penguins - are in serious talks to collaborate on a bid to buy the Kings. The person spoke to USA TODAY Sports on condition of anonymity because of the private nature of the talks. The fact that the two men are willing to join forces is seen as significant by Sacramento supporters. There are five potential owners currently in play, but Mastrov and Burkle are seen as the heaviest hitters among that group.

Burkle is known to be focused on the arena plan that is unfolding at Sacramento's downtown plaza, where the property's new owners, JMA Ventures, have shown an interest in partnering with prospective owners of the Kings on the project. Mastrov made a serious bid to buy the Golden State Warriors before the team was purchased by the Joe Lacob/Peter Guber group in July 2010.

The Maloof family that has a 53 percent majority interest and minority owner Bob Hernreich have reached an agreement with the Hansen-Ballmer group that must be approved by the NBA's Board of Governor's, with the deal set to pay them approximately $341 million for 65 percent of the team (a $525 million valuation). But Sacramento mayor and former NBA point guard Kevin Johson has been told by commissioner David Stern that he still has a chance to save his team if he can provide the funds to compete with the Seattle offer as well as a viable arena plan and present both to the Board of Governors.

http://www.usatoday.com/story/sports/nb ... n/1856939/

[boogie-reke]

And there's reports that they refuse to sell to Sacramento owners, from the respected David Aldridge.

Quite a cop out to go with the "nobody knows" - when you're trying to tell us to use logic, yet dismiss it when we counter it.

I didn't ask you what you know, I know you know nothing, and none of us do. I asked you what this looks like - that's what we're all discussing here, how things look.

This looks like this is NOTHING about the money, and this looks like the Maloofs do not wish to sell to Sacramento unless they are forced to by the NBA.

So why would they shop the deal to Ellison then?

Why would they not shop to deal with Burkle? Why would they not shop to deal with Kevin Johnson and whoever he has contacts with?

[ThEMvP]

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.

Lol I don't know how to explain it any better. Have you purchased a car from a dealership? Have you purchased a home before? Have you been a part of a business acquisition before?

These are tactics that are commonly used, believe it or not.

Again, no one knows for sure what's going on with the Maloofs, it's all speculation, you know just as much as what I know, which is what's leaked out so far.

The Maloofs may very well hate Sacramento, or hate Burkle. Who knows?

Or Seattle may have just given them an offer that they can't refuse. $30mm guaranteed. $525mm valuation.

Again, everyone has a price.

Answer me this, if your home was worth $300k, and person A was interested and asked you to sell, but you refuse. Then person B walks up, offers you 75% over the market valuation and offered you $525k with $30k guaranteed...would you not think about it?

It's a win/win for the Maloofs. If the deal gets approved for Seattle, they win. If the NBA approves KJ's deal, they win also. How hard is that to understand?

[ThEMvP]

They could've just thought, "let's take the $30 mil, and let Seattle and Sacramento bid against themselves", which makes perfect sense.

[ComboGuardCity]

I guess Burkle's word is now gold. No way he offered the same amount of money. You guys are acting like the Maloofs hung up the phone when Burkle/anyone called. That's not how a proposal works. How the hell did Hansen get enough time to spit out a number then? Burkle's deal probably wasn't attractive enough.

[G R E Y]

USAToday copy editors being arrested by grammar police as we speak:

"Board of Governor's" Really?!

They could've just thought, "let's take the $30 mil, and let Seattle and Sacramento bid against themselves", which makes perfect sense.

Yeah that's what I was thinking, too. Looks like Burkle's back in play.

Say for whatever reason the BOG rejects the Seattle offer and KJ presents Sac offer, Maloofs can still say no to that? I mean, can the league do anything about their simply not wanting to sell to a Sac group (if that's indeed an intention)?

[ThEMvP]

I guess Burkle's word is now gold. No way he offered the same amount of money. You guys are acting like the Maloofs hung up the phone when Burkle/anyone called. That's not how a proposal works. How the hell did Hansen get enough time to spit out a number then? Burkle's deal probably wasn't attractive enough.

Money talks. In the end, the Maloofs will sell it to the highest bidder, and they're the eventual winners of this deal (with already $30mm guaranteed).

[ThEMvP]

USAToday copy editors being arrested by grammar police as we speak:

"Board of Governor's" Really?!

They could've just thought, "let's take the $30 mil, and let Seattle and Sacramento bid against themselves", which makes perfect sense.

Yeah that's what I was thinking, too. Looks like Burkle's back in play.

Say for whatever reason the BOG rejects the Seattle offer and KJ presents Sac offer, Maloofs can still say no to that? I mean, can the league do anything about their simply not wanting to sell to a Sac group (if that's indeed an intention)?

Ultimately, the final decision is on the Maloofs. It's THEIR team, they can sell to whoever they want. Stern can try to pressure them, or steer them into a certain direction, but again it's their final decision.

[KF10]

I guess Burkle's word is now gold. No way he offered the same amount of money. You guys are acting like the Maloofs hung up the phone when Burkle/anyone called. That's not how a proposal works. How the hell did Hansen get enough time to spit out a number then? Burkle's deal probably wasn't attractive enough.

Watch this video and read the article.

http://www.news10.net/news/local/articl ... Kings-move

You will see who is right or not.

[ComboGuardCity]

I guess Burkle's word is now gold. No way he offered the same amount of money. You guys are acting like the Maloofs hung up the phone when Burkle/anyone called. That's not how a proposal works. How the hell did Hansen get enough time to spit out a number then? Burkle's deal probably wasn't attractive enough.

Watch this video and read the article.

http://www.news10.net/news/local/articl ... Kings-move

You will see who is right or not.

Yes because nobody changes their mind in 18 months.

[HotRocks34]

USAToday copy editors being arrested by grammar police as we speak:

"Board of Governor's" Really?!

They could've just thought, "let's take the $30 mil, and let Seattle and Sacramento bid against themselves", which makes perfect sense.

Yeah that's what I was thinking, too. Looks like Burkle's back in play.

Say for whatever reason the BOG rejects the Seattle offer and KJ presents Sac offer, Maloofs can still say no to that? I mean, can the league do anything about their simply not wanting to sell to a Sac group (if that's indeed an intention)?

Ultimately, the final decision is on the Maloofs. It's THEIR team, they can sell to whoever they want. Stern can try to pressure them, or steer them into a certain direction, but again it's their final decision.

This is my own thought -- how do you actually try to force the Maloofs to sell to a group or party you want them to sell to? I would have to think there could be some serious legal concern there.

The BOG approves or rejects sales and relocations, as far as I understand. But they don't initiate sales, at least not to my knowledge. And why would they? You think any owner on that Board wants to be told, in the future, who he or she is going to sell to as dictated by some outside force? Good luck trying to get owners in the future.

KJ can come and pitch the BOG on a Sacramento deal, but at the end of the day he doesn't own the team. The Maloofs do. The Kings aren't KJ's to sell, or buy.

I'm sure there will be plenty more twists and turns in this game before March (relocation deadline) and April (BOG meeting).

[KF10]

I guess Burkle's word is now gold. No way he offered the same amount of money. You guys are acting like the Maloofs hung up the phone when Burkle/anyone called. That's not how a proposal works. How the hell did Hansen get enough time to spit out a number then? Burkle's deal probably wasn't attractive enough.

Watch this video and read the article.

http://www.news10.net/news/local/articl ... Kings-move

You will see who is right or not.

Yes because nobody changes their mind in 18 months.

I guess you didn't see the video.

George Maloofs just waived off Burke's bid as "It's all talk...it's just words...hogwash.." despite Burke having working towards a bid (for months). The Maloofs didn't took him seriously.

How can you know that Burkle's offer wasn't attractive enough? In the video, there's all the proof in the world that the Maloofs are liars and terrible businessmen. Especially, after the fact that they shunned a person that is 10X more powerful. They are a bunch of idiots.

How did Hansen got the time to figure out a number, you say?

The Maloofs have been dealing with Hansen under the table, privately for months now! From the first rumor where Hansen offered ~$400m for the Kings, at that point, the Maloofs have been talking and organizing a deal since then. These are early reports as far as last summer that Hansen/Maloof approached each other of selling the team!

It's hilarious that all of these people here who are now-experts in arena affairs of Sacramento in the last couple of weeks are telling Kings fans (who has an actual pulse in the matter and followed everything from the start) something else than what they are saying. It's laughable.

People here like to argue just for the sake of arguing.

[KF10]

The Maloofs are a massive joke and terrible human beings. They are trying everything in their powers to spite the city of Sacramento. If that means selling out from the NBA and moving the team out of Sacramento, they do it. I have no doubt in my mind.

They got soo mad when the deal to Anaheim was nuked where basically they were a heartbeat away moving the team there. So, they lost their chance of moving the Kings to a lucrative market in socal WHILE still being owners of the Kings and have all of their (or most of it iirc) debt erased by Samueli. Since then, KJ/Sacramento and the Maloofs never saw eye to eye anymore. A lot of people here are ignoring this part of the issue. The Maloofs hate Sacramento/KJ! They keep saying "we will never leave Sacramento, the fan support here is great" for the last couple of years now, it's obvious that they are liars! Scumbags! I can't believe they have the audacity to babble to the media and make themselves innocent. "we killed the sacramento deal because we didn't plan to pay $3m for predevelop fees so therefore kj/sacramento are cocksucking liars and not people to trust in deals herp derp!!1!"

Here are some snippets from last year:

Six weeks after the Sacramento Kings's owners and California's capital city reached a tentative financing plan for a new arena, city leaders and the Maloof family are publicly declaring their mistrust of each other, leaving the team's future in doubt.

The Maloof family is still insisting that it has no interest in leaving Sacramento, despite balking Friday at the terms of the funding framework. But they now say they no longer trust Sacramento Mayor Kevin Johnson and don't want to work with him.

"You can't do a deal with somebody you don't trust," George Maloof said Saturday, according to The Sacramento Bee. "I don't trust him."

"I don't think I'd want to negotiate with the mayor," Maloof told USA TODAY Sports on Saturday. "Maybe there's someone else that I'd feel more comfortable with.

Meanwhile, elected officials representing Sacramento have blasted the Maloofs, claiming they've turned their backs on the city late in the game

"As their bizarre press conference (on Friday in New York) laid bare for all to see, dealing with the Maloofs is like dealing with the North Koreans -- except they are less competent," Chris Lehane said in a statement released to USA Today. "In Maloof-world, facts are fiction; truths are half-truths; and promises are broken promises. The City of Sacramento deserves better."

"It just feels like they were coming up with reasons of why not to do the deal," Johnson said.

"Sacramento deserves partners who will live by their word," Steinberg said, according to The Sacramento Bee. "I hope the NBA and its owners do not allow this kind of bad behavior to occur without consequences."

"Once again, the Maloofs have turned their back on a deal and shown their contempt for Sacramento," Dickinson added, according to the report.

Even Stern (at the time) saw through Maloof BS and basically give them the bird:

Stern: League will not approve Kings move to Anaheim

Should the Maloofs file to relocate the franchise to another city, the NBA's Board of Governors would have to vote whether or not to allow a move.

"If there was a vote now, there would be no support for a move," Stern said. "And I believe the ownership that says they're planning to stay (in Sacramento).

And I leave this here:


[youtube]http://www.youtube.com/watch?v=4wcd4yNk1qc[/youtube]

[VintaGe36]

I'm confident in one thing though, there is little chance an expansion franchise is going to happen.

So there is going to be one spurned fanbase.

There are literally 3-4 teams vying for a Championship this year.

That's 23 teams with literally NO SHOT at a championship & 3-5ish teams with an outside shot.

I definitely see the argument for two rabid fanbases in good TV markets, but I'm sure David Stern would look at the overall product of the NBA as well.

There is hardly a surplus of talent around the NBA, and further diluting it, in an era where you need 2 Superstars to win is risky for your overall on-court product.

[bennith13]

There is still a fully funded NBA endorsed arena deal in place.

I could be wrong, but didn't that call for the Maloofs to put in close to $200 million worth of either cash or assests in the form of land they owned to help fund the deal? If so, Sacramento local ownership would have to have close to a Billion dollars of net worth to fund the purchase of the team, fund the new arena, and cover every day expenses of running the franchise...

[Inigo_Montoya]

There is still a fully funded NBA endorsed arena deal in place.

I could be wrong, but didn't that call for the Maloofs to put in close to $200 million worth of either cash or assests in the form of land they owned to help fund the deal? If so, Sacramento local ownership would have to have close to a Billion dollars of net worth to fund the purchase of the team, fund the new arena, and cover every day expenses of running the franchise...

No, Sacramento was putting ~250 million toward the arena, AEG was contributing 70 million, and the NBA was going to loan the Maloofs about 70 million to put toward the arena. The NBA was also going to gift 7 million to the Maloofs for taking the deal.