Maloof Family No Longer Loyal to Sacramento for Kings

[wiltchamberlain]

I sure don't..Give me a chair, a beer and let me watch some hoops! I don't give a sh*t about the arena. You people are nuts for buying into all this marketing crap and paying 500 dollars just to take the fam to a basketball game. Crazy stuff.

NBA players should make 100,000 grand a year with playoff/championship team incentive bonuses..Then we fans could afford to take the kids to 20 games a year and nobody would give a sh*t how updated the restrooms are,

If they were paid that little they'd all go over seas to make more dough. You could go to D-league games though, depending on where you live.

[ICMTM]

The 150 million would be a payoff/bribe to Lacob/Guber because they hold territorial rights to San Jose and the Maloofs would need their approval. San Jose is within 45 miles of Oakland.

there is no 150 million relocation fee

I just saw on Sactown Royalty it would be $30. They, too corrected their $150m number

http://www.sactownroyalty.com/2011/1/12 ... e-kings-to

The Kings would have to borrow the money to move. It's still a sign, and they aren't going to make the money off the arena they want off of a new arena. Moving to Anaheim IMO would kill Maloof Sports & Entertainment. The new arena for the Maloofs is more than just basketball. It's Disney, it's monster truck derby, it's NCAA basketball (really we need to talk about the gym Sac State plays in), it's Britney, it's Justin Bieber.....

If the Kings move they lose basically a tour stop for all these performers and lose the right to pick them up in another city. They already go to LA, San Jose, name your city here. If the Maloofs leave they leave half their business behind for someone else to come in and build a stadium.

Mark my words. A new stadium will be built. I just feel the kink in the process has been the Maloofs themselves. They want too much.

[SacTownKings4Life]

What's the difference if you watch basketball in a 20 year old arena instead of a new one? I don't get any of this..I don't get the players making 10 million a year. I don't get the owners selling their franchise for 450 million no matter how poorly they ran it. I don't get why anyone would expect the taxpayers to flip the bill on a new arena just so the owners can make extra money off the luxery suites..It's all crazy man. When I go to a game, I don't give a rats ass how the building looks. I'm there to watch hoops

I love it when ignorant people blindly state that they as "tax payers" don't wanna pay for anything. First off, as I said before, there was a MINISCULE sales tax increase that would have helped pay for the arena. Nobody is seriously going to notice a 0.25% increase. What it REALLY boils down to is hatred. People simply hate other people who just so happen to be in better financial positions. People hate the Maloofs because they have (or rather had) money. Plain and simple. This is why people claim that they don't want to "pay" for anything related to the Maloofs. But what people seem to have confused is the notion that they (the people) will be paying straight out of their pockets for the cost of the arena. This is not the case. We would be paying an ever so slight increase in things we buy at the store and this extra money would have gone towards the arena. 10 or so years later, we should have produced a good chunck of change to at LEAST break ground on an arena. But noooo! People hated the idea of paying even an extra penny (or quarter of a penny) if it went towards the Maloofs. So the result is, we have nothing going and are in serious danger of losing the only show in town because of our own hatred.

And as a also said before, we still ended up with a full 1% tax increase which I don't believe anybody ever protested, and nobody even knows what THAT tax money is going to. But you don't really care, do you? So long as its not going to those stinkin Maloofs. Tell me something. What would you RATHER we spend your tax money on, if not an arena?

[ICMTM]

Educate yourself on he entire proposal. The city paid and maintained the building. The Maloofs paid $4m a year in rent for 30 years. The Maloofs profited from Everything that when on from parking to business meetings to concerts. The Maloofs even wanted control of the blocks surrounding the arena.

[SacTownKings4Life]

Ok, so why is it that people act as if they have some sort of stake in the arena? You, ICMTM, will never personally see any part of the procedes from an arena whether it be Maloof controlled OR city controlled. Nor will any of the other leagues of tax payers. I mean seriously, in what way would it effect us (the tax payers)? Like I said, its all comes down to hate. Nobody wants to see rich people get richer, so you go, "Oh, you guys have money. Why don't you just build it yourself?" Well seeing as how they appear to be rapidly going broke, apparently they could NOT afford to pay for the whole thing themselves (which is what everybody criticized them for not voluntarily doing), and it would have driven them into the ground even sooner. Might they have been forced to SELL the Kings franchise along with their other businesses? If so, perhaps the Kings might already be gone by now. Anybody seen the Monarchs lately?

[Wolfay]

I voted for the tax increase, but I can see why most didn't. If the city is going to foot the bill, then the city should see some profit from it. The city gets nothing for something and the Maloofs get something for nothing. Not fair at all.

[SacKingZZZ]

Not really true at all. At the end of the day the City has the ownership of the arena and an instant and long term tenant. With such a down economy it makes sense to me that one day when the value of the arena skyrockets the city then reaps the benefits, it could literally quadruple in value over the next 15 years. If they ever look to sell, somebody like SMG moves in and the city turns a huge profit from which to waste on getting highway work and sewer lines replaced as slow as possible so as to retain all grant monies so they don't have to return any.

[Dustin5566]

Not really true at all. At the end of the day the City has the ownership of the arena and an instant and long term tenant. With such a down economy it makes sense to me that one day when the value of the arena skyrockets the city then reaps the benefits, it could literally quadruple in value over the next 15 years. If they ever look to sell, somebody like SMG moves in and the city turns a huge profit from which to waste on getting highway work and sewer lines replaced as slow as possible so as to retain all grant monies so they don't have to return any.

Exactly!! The city would be the owner of the arena and would collect rent from the Maloofs.

[ICMTM]

Ok, so why is it that people act as if they have some sort of stake in the arena? You, ICMTM, will never personally see any part of the procedes from an arena whether it be Maloof controlled OR city controlled. Nor will any of the other leagues of tax payers. I mean seriously, in what way would it effect us (the tax payers)? Like I said, its all comes down to hate. Nobody wants to see rich people get richer, so you go, "Oh, you guys have money. Why don't you just build it yourself?" Well seeing as how they appear to be rapidly going broke, apparently they could NOT afford to pay for the whole thing themselves (which is what everybody criticized them for not voluntarily doing), and it would have driven them into the ground even sooner. Might they have been forced to SELL the Kings franchise along with their other businesses? If so, perhaps the Kings might already be gone by now. Anybody seen the Monarchs lately?

I voted FOR it.

unfortunately the plan created nothing of interest for 80% of the people who did vote. I think that's louder than anything you can write in caps. Again educate yourself.

[ICMTM]

Not really true at all. At the end of the day the City has the ownership of the arena and an instant and long term tenant. With such a down economy it makes sense to me that one day when the value of the arena skyrockets the city then reaps the benefits, it could literally quadruple in value over the next 15 years. If they ever look to sell, somebody like SMG moves in and the city turns a huge profit from which to waste on getting highway work and sewer lines replaced as slow as possible so as to retain all grant monies so they don't have to return any.

Exactly!! The city would be the owner of the arena and would collect rent from the Maloofs.

At the tune of losing at least $300 million on the deal. We'd own the parking lot, and the Maloofs would get ALL the concessions on parking. In this down economy people don't justify taxing themselves for the benefit of a few people. This isn't my personal stance. This is the voting stance. Anything opposing this thought is like crying over a bad call. It happened. Reinvent your opinion.

[The Beam King]

The 150 million would be a payoff/bribe to Lacob/Guber because they hold territorial rights to San Jose and the Maloofs would need their approval. San Jose is within 45 miles of Oakland.

there is no 150 million relocation fee

I just saw on Sactown Royalty it would be $30. They, too corrected their $150m number

http://www.sactownroyalty.com/2011/1/12 ... e-kings-to

The Kings would have to borrow the money to move. It's still a sign, and they aren't going to make the money off the arena they want off of a new arena. Moving to Anaheim IMO would kill Maloof Sports & Entertainment. The new arena for the Maloofs is more than just basketball. It's Disney, it's monster truck derby, it's NCAA basketball (really we need to talk about the gym Sac State plays in), it's Britney, it's Justin Bieber.....

If the Kings move they lose basically a tour stop for all these performers and lose the right to pick them up in another city. They already go to LA, San Jose, name your city here. If the Maloofs leave they leave half their business behind for someone else to come in and build a stadium.

Mark my words. A new stadium will be built. I just feel the kink in the process has been the Maloofs themselves. They want too much.

Those are some excellent points. I totally agree. One counterpoint though is that there are cities out there that could leverage a similar package to what the Maloofs have in Sacto. It's just a matter of would those cities throw the offer out there.