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-   -   OT: Source: Maloofs make backup plan with Hansen, relocation fee at 116$ million (http://hfboards.hockeysfuture.com/showthread.php?t=1427133)

superdeluxe 05-11-2013 08:43 PM

OT: Source: Maloofs make backup plan with Hansen, relocation fee at 116$ million
 
http://m.espn.go.com/nba/story?story...05&src=desktop

Quote:

Two sources told ESPN.com the Maloofs have informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved by league owners next week, they will not sell the team to a Sacramento-based group that promises to keep the Kings in Sacramento.

Instead, the cash-strapped Maloofs have made a "backup" agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise.

That new "backup" plan comes on the heels of Hansen's announcement on Friday that he had upped his offer to buy the Maloofs' 65 percent of the Kings to $409 million (from $358 million) for a total valuation of $625 million.

Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma City Thunder moved from Seattle, they paid a $30 million total fee to the other owners.

So many ways this story could play out

gstommylee 05-11-2013 09:32 PM

Quote:

Originally Posted by superdeluxe (Post 65849395)
http://m.espn.go.com/nba/story?story...05&src=desktop




So many ways this story could play out

chrisdaneils reported its a 126m relocation fee.

https://twitter.com/ChrisDaniels5/st...80646368063489

Quote:

I can now confirm, according to a high level source, that the Hansen/Ballmer team had agreed to pay NBA $126 MILLION to relocate #NBAKings

objectiveposter 05-11-2013 09:47 PM

so whats the new total amount Hansen is willing to invest on the team and arena?

wunderpanda 05-11-2013 09:52 PM

Including the land he purchased for the arena? Must be over a billion.

LadyStanley 05-11-2013 09:56 PM

CSNAuthentic 7:31pm via Web

#KingTalk -- Maloofs intent on moving #Kings to Seattle, employ 'Plan Middle Finger' http://t.co/KHKDbvssTJ @RattoCSN #NBA

gstommylee 05-11-2013 09:59 PM

Quote:

Originally Posted by wunderpanda (Post 65854607)
Including the land he purchased for the arena? Must be over a billion.

It'll be over a billion if Hansen gets approved for 65% of the team and the arena is built.

80m for the land. 40m for transportation fund 7m for Key arena. TBD mitigation costs (relates to SEPA/EIS)

At least 3m for Key arena upgrades.

gstommylee 05-11-2013 10:10 PM

Chrisdaneils corrected himself reloc fee is 116m.

Fugu 05-12-2013 12:06 AM

Quote:

Originally Posted by LadyStanley (Post 65854797)
CSNAuthentic 7:31pm via Web

#KingTalk -- Maloofs intent on moving #Kings to Seattle, employ 'Plan Middle Finger' http://t.co/KHKDbvssTJ @RattoCSN #NBA


Al Davis revisited?

The Korean* 05-12-2013 12:07 AM

Quote:

Originally Posted by Fugu (Post 65858925)
Al Davis revisited?

At least AL Davis loved his Raiders and cared about winning.

gstommylee 05-12-2013 12:18 AM

Quote:

Originally Posted by Fugu (Post 65858925)
Al Davis revisited?

Its possible it could go that route. NBA is even a greater tight corner and that has to do with the backup offer where hansen gets 20% and a RORF and maloofs keep team in Sacramento. IF NBA approves the back up offer essentially its only a matter of time before Kings ends up in Seattle.

Free Edler 05-12-2013 02:23 AM

Holy cow.

Brodie 05-12-2013 02:30 AM

I knew they'd go Raiders if it came to it. Nobody leaves $50 million on the table

Fugu 05-12-2013 12:28 PM

Quote:

Originally Posted by Brodie (Post 65861947)
I knew they'd go Raiders if it came to it. Nobody leaves $50 million on the table

I honestly didn't think the NBA would try this hard to block such a sale and move, so in that regard, I'm surprised.

To me at least, this indicates that the current NBA owners may not be as unanimously aligned as Stern would like to represent. The leak that the relocation committee vote was 4-3 against, then changed to 7-0 for public consumption might support the notion that Hansen has supporters among the current BOG.

Brodie 05-12-2013 01:43 PM

Stern's all about strong arming people to get his way. He's all of the seediest aspects of Bettman amped up to 11. And there's nothing he loves more than a good sham to shape public perception. This is his Waterloo.

Clowe Me 05-12-2013 02:01 PM

The league could still deny the move from Sac to Seattle, even if the Maloof's still own them.

Nba isn't going to let the Maloof's do anything easily. Especially since they still owe the league over 100 million.

gstommylee 05-12-2013 02:04 PM

Quote:

Originally Posted by Clowe Me (Post 65875849)
The league could still deny the move from Sac to Seattle, even if the Maloof's still own them.

Nba isn't going to let the Maloof's do anything easily. Especially since they still owe the league over 100 million.


According to Al Davis vs NFL no they can't. Clippers were moved to LA with out the go ahead of the NBA.

LadyStanley 05-12-2013 02:12 PM

Have to wonder if the NBA might do the ultimate nuclear reaction and rescind the franchise should it be moved without NBA BOG approval (or threaten to do so).

UFAs of the entire roster?


I kinda think that after Raiders, et al, there might be some that would relish a scorched earth to retain/enforce the power with the BOG.

gstommylee 05-12-2013 02:17 PM

Quote:

Originally Posted by LadyStanley (Post 65876217)
Have to wonder if the NBA might do the ultimate nuclear reaction and rescind the franchise should it be moved without NBA BOG approval (or threaten to do so).

UFAs of the entire roster?


I kinda think that after Raiders, et al, there might be some that would relish a scorched earth to retain/enforce the power with the BOG.


I think that would cause a massive lawsuit against NBA if they try to take away a franchise.

Fugu 05-12-2013 02:20 PM

Quote:

Originally Posted by LadyStanley (Post 65876217)
Have to wonder if the NBA might do the ultimate nuclear reaction and rescind the franchise should it be moved without NBA BOG approval (or threaten to do so).

UFAs of the entire roster?


I kinda think that after Raiders, et al, there might be some that would relish a scorched earth to retain/enforce the power with the BOG.


Kind of agree with the above poster. You can't just make $500-600 MM invested disappear.

gstommylee 05-12-2013 02:34 PM

Quote:

Originally Posted by Fugu (Post 65876521)
Kind of agree with the above poster. You can't just make $500-600 MM invested disappear.

The NBAPA would object to such an idea as well.

Pinkfloyd 05-12-2013 02:56 PM

Quote:

Originally Posted by gstommylee (Post 65875983)
According to Al Davis vs NFL no they can't. Clippers were moved to LA with out the go ahead of the NBA.

There might be a subtle difference between the two with regards to arena capability. There's no arena plan for the Maloofs to go to Seattle and Key Arena was the reason why the Sonics left in the first place. There's also no guarantee that the NBA will approve Hansen, even as a minority owner.

I'm sure this all ends up in lawsuits anyway. I think the NBA will eventually do everyone a favor and just come to an agreement where the Maloofs sell the franchise to Hansen, allow him to move it to Seattle, and grant the Kings an expansion franchise. Yes, the NBA wants to avoid expansion but that's still the better alternative than having their decisions challenged and ruled upon in the courts. It's also better that way because they get rid of the Maloofs once and for all.

The Clippers moving to LA isn't really a comparable anyway. That was still technically in their home territory and I think the Lakers asked them to come in as another tenant to pay towards the rent there.

sactown dude 05-12-2013 03:14 PM

Quote:

Originally Posted by gstommylee (Post 65875983)
According to Al Davis vs NFL no they can't. Clippers were moved to LA with out the go ahead of the NBA.

You know, you like to cite these cases a lot. Have you done any research? Raiders won because the NFL required a UNANIMOUS vote to allow relocation. Clippers alleged that the NBA did not have due process to allow movement. NBA instituted due process in response afterwards. That is the due process the NBA is following now.

gstommylee 05-12-2013 03:15 PM

Quote:

Originally Posted by Pinkfloyd (Post 65877855)
There might be a subtle difference between the two with regards to arena capability. There's no arena plan for the Maloofs to go to Seattle and Key Arena was the reason why the Sonics left in the first place. There's also no guarantee that the NBA will approve Hansen, even as a minority owner.

I'm sure this all ends up in lawsuits anyway. I think the NBA will eventually do everyone a favor and just come to an agreement where the Maloofs sell the franchise to Hansen, allow him to move it to Seattle, and grant the Kings an expansion franchise. Yes, the NBA wants to avoid expansion but that's still the better alternative than having their decisions challenged and ruled upon in the courts. It's also better that way because they get rid of the Maloofs once and for all.


I agree expansion is the best way to resolve this issue.

madhi19 05-12-2013 03:16 PM

This is turning into Balsillie 2.0, anybody think the NHL could do well to stay away from this guy.

gstommylee 05-12-2013 03:22 PM

Quote:

Originally Posted by madhi19 (Post 65878687)
This is turning into Balsillie 2.0, anybody think the NHL could do well to stay away from this guy.

This has nothing to do with the Balsillie.

Hansen has followed every thing he needs to do. Maloofs want to sell the team to him since he's providing the highest price. NBA wants Maloofs to sell the team to local Sacramento group.

Plus hansen isn't going to be involved in majority ownership of hockey team.

coyotes were in bankruptcy the former owner has no longer any right to say who the team goes to.


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