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-   -   OT Sacramento looking to finance new arena; UPD NBA rejects relocation to Seattle bid (http://hfboards.hockeysfuture.com/showthread.php?t=1358603)

LadyStanley 02-23-2013 07:27 PM

OT Sacramento looking to finance new arena; UPD NBA rejects relocation to Seattle bid
 
http://www.sacbee.com/2013/02/23/521...#mi_rss=Sports

Quote:

In a sign that Sacramento's arena effort has gained a sense of urgency in recent days, Sacramento City Manager John Shirey indicated today he will ask the City Council this Tuesday to authorize him to begin arena financing negotiations with a private investment group as soon as possible.

Shirey had promised the council last week he would ask their approval before entering into formal talks with a group that reportedly wants to make a bid to buy the Sacramento Kings and to join with the city in financing and building a downtown arena.
I'm guessing that the basis for the AMULA (or equivalent) will also be part of these negotiations.

No Fun Shogun 02-23-2013 07:38 PM

Last ditch efforts to save a team that the NBA is going to rubber stamp their move to Seattle without much controversy.

Nothing to see here.

Mightygoose 02-23-2013 09:43 PM

Kind of late in the game to begin negotiations?

Guess KJ and company are getting their weekly air time in the press on their 'efforts' to keep the kings in town

gstommylee 02-23-2013 09:56 PM

Quote:

Originally Posted by Mightygoose (Post 60350871)
Kind of late in the game to begin negotiations?

Guess KJ and company are getting their weekly air time in the press on their 'efforts' to keep the kings in town

the self imposed deadline is the first of march.

superdeluxe 02-23-2013 10:43 PM

They want a term sheet by April 18th. Hansen had a term sheet last Feburary, that just goes to show you how much further seattle's arena plan is

DaveTheHockeyFan 02-24-2013 11:32 AM

Kings or no Kings, KJ still says he will get an arena built.

:yo:

gstommylee 02-24-2013 12:02 PM

Quote:

Originally Posted by superdeluxe (Post 60354767)
They want a term sheet by April 18th. Hansen had a term sheet last Feburary, that just goes to show you how much further seattle's arena plan is

Nevermind the arena process to finalize the plan is another year away where as ours is just a EIS and a team away.

wunderpanda 02-24-2013 10:39 PM

Actually, Sac has a deal in place negotiated by Stern and a second arena proposal. They voted to approve last week in a 7-2 vote. Seattle still has some lawsuits to overcome before they can begin to start building anything. Not saying the Kings will or won't move, but it is still a 50-50 thing right now.

gstommylee 02-25-2013 09:25 AM

Quote:

Originally Posted by wunderpanda (Post 60423541)
Actually, Sac has a deal in place negotiated by Stern and a second arena proposal. They voted to approve last week in a 7-2 vote. Seattle still has some lawsuits to overcome before they can begin to start building anything. Not saying the Kings will or won't move, but it is still a 50-50 thing right now.

They did not approve on an arena deal last week. It was symbolic vote on resolution just to say we support and will try to get a deal done.

That sac deal last year is dead and has to be reapproved. ILWU lawsuit was tossed. I-91 is a non issue. I-91 can not be enforced.

DaveTheHockeyFan 02-26-2013 09:20 AM

Source: Minority Owner has $750 Million Plan to Buy Kings, Build Arena

http://fox40.com/2013/02/25/source-m...s-build-arena/

:handclap:

gstommylee 02-26-2013 09:55 AM

Quote:

Originally Posted by DaveTheHockeyFan (Post 60499821)
Source: Minority Owner has $750 Million Plan to Buy Kings, Build Arena

http://fox40.com/2013/02/25/source-m...s-build-arena/

:handclap:

If this rumor is true i doubt he's claiming ROFR. Can't use outside money to claim ROFR. Like with burkle NBA can't make Maoofs sell locally.

Shockmaster 02-26-2013 10:21 AM

I haven't been paying that close attention to this, but isn't Seattle already way ahead of where Sacramento is in regards to an arena? And wasn't there already a Seattle group that said they'd buy the Kings and move them to said arena in Seattle?

gstommylee 02-26-2013 10:28 AM

Quote:

Originally Posted by Shockmaster (Post 60501957)
I haven't been paying that close attention to this, but isn't Seattle already way ahead of where Sacramento is in regards to an arena? And wasn't there already a Seattle group that said they'd buy the Kings and move them to said arena in Seattle?



Yes. There is a binding PSA. Seattle is an EIS away from the arena being done.

SO any offer from any other group or groups would have to convince the NBA to say no to Hansen's offer and then maloofs would have to change their minds and sell locally.

knorthern knight 02-26-2013 11:47 PM

Quote:

Originally Posted by gstommylee (Post 60501139)
If this rumor is true i doubt he's claiming ROFR. Can't use outside money to claim ROFR.

What's the legal difference between...
  • buying with money you inherited from daddy
  • buying with money borrowed from a bank
  • buying with money borrowed from Larry Ellison
Assuming he does actually have ROFR (up to the courts to decide) all that matters is that he put up a cheque that doesn't bounce.

Quote:

Originally Posted by gstommylee (Post 60501139)
Like with burkle NBA can't make Maoofs sell locally.

It's not so much a question of the NBA, it's the courts, and the alleged ROFR.

DaveTheHockeyFan 02-27-2013 12:10 AM

City Council approves city manager's request to negotiate terms of arena financing plan by 7-2 vote

Shockmaster 02-27-2013 09:17 AM

Quote:

Originally Posted by DaveTheHockeyFan (Post 60565617)
City Council approves city manager's request to negotiate terms of arena financing plan by 7-2 vote

So then what happens if the NBA Board of Governors approves the sale to the Seattle group in April? Does that make this a wasted effort by Sacramento?

IceAce 02-27-2013 09:27 AM

This was pretty much just for show at this point anyway so local politicians can point to something to say they tried to save the team.

DaveTheHockeyFan 02-27-2013 10:35 AM

Quote:

Originally Posted by Shockmaster (Post 60575223)
So then what happens if the NBA Board of Governors approves the sale to the Seattle group in April? Does that make this a wasted effort by Sacramento?

KJ himself has stated that even without the Kings, they would still build an arena to bring in events and future sports franchises.

Shockmaster 02-27-2013 11:00 AM

Quote:

Originally Posted by DaveTheHockeyFan (Post 60578195)
KJ himself has stated that even without the Kings, they would still build an arena to bring in events and future sports franchises.

I'm not arguing that. I'm just confirming that if/when the NBA BoG approves the sale of the Kings to the Seattle group, they're pretty much done in Sacramento regardless of recent efforts to save them.

aqib 02-27-2013 09:37 PM

As much as I want to see Seattle get an NBA team back since they never should have lost the Sonics, I am not sure I understand how the NBA can turn down a local group who is well financed and is willing to match the offer. MLB basically forced Bob Laurie to take $15 million less to sell the Giants to a local group instead of moving them to Tampa.

gstommylee 02-27-2013 10:50 PM

Quote:

Originally Posted by aqib (Post 60622995)
As much as I want to see Seattle get an NBA team back since they never should have lost the Sonics, I am not sure I understand how the NBA can turn down a local group who is well financed and is willing to match the offer. MLB basically forced Bob Laurie to take $15 million less to sell the Giants to a local group instead of moving them to Tampa.

Do you want owners telling other owners who they can and can't sell to especially when comes to them wanting to sell their team themselves at some point? Seattle will never get a team if the league says no if there always is a local offer that matches it.

Sacramento doesn't even have an arena plan yet and Friday is the deadline.

DaveTheHockeyFan 02-28-2013 09:00 PM

Kevin Johnson just announced that Mark Mastrov will attempt to purchase the Kings and Ron Burkle will head the arena efforts to build the new arena at the Downtown Plaza.

gstommylee 02-28-2013 09:09 PM

So its Mastrov vs Hansen/balmer/nordstorm for the kings?

Best of luck to Mastrov.

gernb 02-28-2013 09:20 PM

Quote:

Originally Posted by DaveTheHockeyFan (Post 60699199)
Kevin Johnson just announced that Mark Mastrov will attempt to purchase the Kings and Ron Burkle will head the arena efforts to build the new arena at the Downtown Plaza.

Attempt to purchase a team that is already sold. I don't think Hansen is going to want to sell to Mastrov.

Melrose Munch 02-28-2013 09:20 PM

Why can't the NBA just do a 2 team expansion to Seattle and Vancouver, and end this?


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