Larry Ellison looking to buy the kings and move to Anaheim

[Little Digger]

Larry Ellison, reported to be the sixth-richest man in America, who made a play for the Hornets after he couldn’t close a deal to buy the Golden State Warriors. He was spurned by then-owner George Shinn, and now is rumored to be interested in buying the Kings and possibly moving them to Anaheim, Calif.

Sacramento’s situation is greatly unsettled.

The Maloof family finds itself in several financial binds. The Maloofs’ controlling interest in the Palms Casino Resort in Las Vegas is being sought by two private investment firms, according to a recent report by Bloomberg News Service, after the Maloofs violated their loan covenants on the property.

The Maloofs, according to the Sacramento Bee, have sold their original beer distributorship in New Mexico for more than $100 million while laying off employees at the Palms and within the Kings organization. They may be ready to either move the team to a city with a more modern arena, or sell to a willing buyer who might do the same.

The Maloofs have repeatedly tried, and failed, to win approval for Sacramento to build a new basketball arena to replace the homey confines of Arco, soon to be renamed the Power Balance Pavilion, so that revenue streams could be increased.

More here
http://www.hornets247.com/news/2011/01/ ... move-team/

[edit - icmtm]

[Bac2Basics]

I can understand people being interested in buying a team, and I can even see them wanting to move out of Sacramento, what I don't get is why moving to Southern California seems to be the goal with the Lakers & Clippers already there. There have to be several choices that make more sense if a new owner would want to move the team.

[RoyalCourtJestr]

I don't get it either, but that won't stop people from claiming it's a good move.

Anyways, if the Maloofs are that straped for cash and need to sell the team, and it moves, I don't know exactly who we can blame the move on. It'd be a crying shame, and if Ellison bought the team only to move them immediately... well, any team you do that with s a giant middle finger to any die hard fans.

[Dustin5566]

Lets just pull a Green Bay and have the Community own the team.

[pillwenney]

The Maloofs have avoided saying "no" recently when asked if they'd move the team, but they've been very clear otherwise. They will not sell the team.

[Nicky Nix Nook]

What about Placer County? They'd definitely vote in favor of it. Not ideal but better than moving anywhere else.

[dozencousins]

I dont care who owns the team as long as the stay in Sacramento .


I would rather have the City of Sacramento own the team ......

[rpa]

The Maloofs have avoided saying "no" recently when asked if they'd move the team, but they've been very clear otherwise. They will not sell the team.

Even if you ignore the above (i.e. that they've said they will NOT sell the team) this still makes little to no sense: why on Earth would Ellison (a Bay Area guy) move the team to SoCal to compete (unsuccessfully of course) with the Lakers (and lesser extent: Clippers).

If Ellison wanted to buy the team we all know what he'd do:

He'd move them to San Jose and try his best to make the Warriors (who spurned his offers) a complete laughing stock.

[king125]

The ultimate situation would be for Ellison to buy the team and keep them in Sac. The truth is that this franchise is about to be put in a position where its gonna need to spend some money. The next 2-3 years are going to get pretty expensive when you consider possible FA coming in or making a big trade plus Contract extensions for Tyreke, Cousins, Omri. To compete this team is going to have to pull out the checkbook and spend. The "live cheap" days are about over.

The Maloofs are in financial trouble so what confidence do you have that they will allow GP or any other GM to spend freely? Probably not, and the Kings will end up being the Oakland A's of basketball and letting talent slip because they are too cheap. That would be sad because I am sure you will all agree that the Cousins/Evans duo has the chance to be championship contenders over the next decade as long as the rest of the team are up to par with talent.

Ellison being a NorCal guy might keep the team here. You never know.

My ideal situation would be.....

1. Ellison buy the Kings and keep them in Sac.
2. Maloofs keep Kings and keep them in Sac.
3. Maloofs or Ellison move Kings to San Jose (not my favorite, but I would deal with it)

Any other option (move team to Socal or move them to Kansas City/St Louis, etc.) would crush me.

[OGSactownballer]

At this point I'm OK with Ellison buying the team and (hopefully) keeping it here as there would be no $$$$ concerns as stated above going into a period where money will need to be spent to be a contender.

[RekeHavoc]

Why would a hornets site know anything about the Kings? They are just hoping another team moves or whatever IMO. I don't even see why he'd move the team to SoCal, he is a bay area guy. Couldn't he atleast move to San Jose? If he moves them to Anaheim I'd be **** pissed but oh well. He has enough money he should just keep the team in Sacramento if he were to buy them. But the Maloofs have already said they wont sell.

[SacKingZZZ]

Highly unlikely if he bought it that he'd move it out of Nor Cal. Bottom line, if he bought the team he would not keep the team in Sac without the same thing that the Maloofs want. You have to understand, it's not just the Maloofs, it's the NBA!

Beyond all of that, the Maloofs aren't going to sell this team so it's moot anyway.

[SacKingZZZ]

I can understand people being interested in buying a team, and I can even see them wanting to move out of Sacramento, what I don't get is why moving to Southern California seems to be the goal with the Lakers & Clippers already there. There have to be several choices that make more sense if a new owner would want to move the team.

The fact is that there are two cities that have been clamouring for an NBA team for YEARS, San Jose and Anaheim. They are ready to be moved into tomorrow and the interest is far beyond there already. Both are close to NBA cities as it is, but it doesn't change the facts that both cities were right behind OKC in terms of being hard up for a professional basketball team and being willing to do whatever it takes to get one. So much so that they've invested money already in their buildings to entice one.

[dozencousins]

Maloofs are not selling the team plain & simple .

[ICMTM]

Can we name it Hustler House and have some of his employees work at the new stadium?

In what situation has three teams ever worked in a sports market? Other than baseball in New York I don't see it??? I don't think it's been tried since the 1950's? Is Los Angeles such a basketball town that it will support three teams? I don't see that happening? I get that there is a divide between Orange/Los Angeles counties, but LA (and really SoCal) is Laker territory. I'd say the UCLA Bruins are more popular than the Clippers. Where does that leave the Kings?

[SmellingColors]

Maloofs are not selling the team plain & simple .

I hope you're right. I also hope Sac Town will man up and just build another arena. Arco's pretty old as it is and we need a new stadium.

[God Squad]

I'm not from SAC, But I would hate to see the team leave. I'm grown quite fond of the team since the early 00's. Also I love the youth movement in Tyreke and Demarcus. Prepare for the worst..Hope for the best.

[cdt3]

I hate tell you but the Maloofs F'd up big time taking as businessmen taking a Casino in a DEPRESSION over a Beer distributor in a DEPRESSION.

Their father built the beer distibutor during a GREAT DEPRESSION.

Vegas Casinoes will come around again in 10-20 years. I haven't been to a casino in 3-4 years.

Will the Maloofs be alive as businessmen then when they do?

The Maloofs will likely have to sell the team as the DEPRESSION continues.

The Maloofs got the Kings during the Reagan DEPRESSION when banks collapsed.

Those who do not study history but are too busy partying are doomed to repeat it.

[dozencousins]

Maloofs are not selling the team plain & simple .

I hope you're right. I also hope Sac Town will man up and just build another arena. Arco's pretty old as it is and we need a new stadium.

Exactly : I believe that they are playing poker with Sacramentians & are looking for more of the community trying to give thema bit more of what they are looking to get in the deal in terms of a new arena , costs , taxes etc. & If the tax payers & the Maloofs can get a bit closer in terms of an agreement we will get this done .
A new arena can be built there is alot of Land in Sacramento that is available , can be bought , tore down & rebuilt , resrtuctured .

All of this depends on how badly both sides want it .

If the KINGS get good again people will come to the Games in person as they fill the Arena their will be excitment & that will generate peoples willingness to do everything they can to keep our KINGS here . If we can just get a deal done to stay in SAC the KIngs would be here at least another 15-25 more years .

Get it done SACTOWN & MALOOFS....