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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

OT: NBA Sacramento sale moves along

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01-23-2013, 11:26 AM
  #1
LadyStanley
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OT: NBA Sacramento sale moves along

MOD NOTE: Shall we try again? This is not the mega thread. Please keep discussion limited to ONLY the sale process.

http://www.modbee.com/2013/01/22/254...-purchase.html
Responses coming to sale; Sac mayor trying to keep team

http://blogs.sacbee.com/city-beat/20...#mi_rss=Sports
http://www.sacbee.com/2013/01/23/513...#mi_rss=Sports
Burkle, Mastrov discussing possible purchase of Kings

http://www.sacbee.com/2013/01/23/513...#mi_rss=Sports
Columnist on how a "big splash" would be needed to keep the Kings in Sacramento

http://www.sacbee.com/2013/01/23/513...#mi_rss=Sports
Awaiting fan reaction

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01-23-2013, 11:46 AM
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Always sad to see smaller markets lose teams that they've supported for so long.

But at the same time, Seattle should've never lost the Supersonics. I don't think they wanted a team back by doing to same to another market, though. Especially one like Sacramento which has supported the Kings a ton over the history of the team in Northern California.

I think it'll be a bittersweet day in the NBA (and in Seattle) when it goes through. Your heart is mended, but another is broken.

Tough business.

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01-23-2013, 12:41 PM
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No Fun Shogun
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Well put. Seattle and now Sacramento both got royally rogered. First Seattle, by a liar of an owner that never intended to keep the team in town, and now Sacramento, also by a liar of an owner that didn't care he got what he wanted out of the city in an arena deal and just wanted out.

Very good to see the Sonics come back, but very sad to see the Kings go.

As for the sales process, Hansen's still going to try to pick up the remaining shares of the team not owned by the Maloofs, right?

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01-23-2013, 02:29 PM
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Things are looking up for Sacramento. Glad to hear Burkle is gonna get involved.

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01-23-2013, 02:36 PM
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gstommylee
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Quote:
Originally Posted by No Fun Shogun View Post
Well put. Seattle and now Sacramento both got royally rogered. First Seattle, by a liar of an owner that never intended to keep the team in town, and now Sacramento, also by a liar of an owner that didn't care he got what he wanted out of the city in an arena deal and just wanted out.

Very good to see the Sonics come back, but very sad to see the Kings go.

As for the sales process, Hansen's still going to try to pick up the remaining shares of the team not owned by the Maloofs, right?
He doesn't need the remaining shares at this point. He just needs the controlling shares. Kings aren't leaving yet cause NBA still needs to approve it. KJ is gonna attempt to covince 29 owners that Sacramento is the better market than seattle.

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01-23-2013, 03:01 PM
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Emphasis on try. Good luck at him convincing them of that.

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01-23-2013, 03:04 PM
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IceAce
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They really are the NBA's vagabond franchise. This would be what? They're 6th different city since inception?

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01-23-2013, 03:10 PM
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As a Supersonics fan I am excited and happy to see them come back, however I don't want the Kings fans to feel what we in Seattle felt 5 years ago with the Supes left

However, this franchise has been whored around for over 65 years in 5 different cities so it's time to find a permanent home in Seattle where it will finally stay

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01-23-2013, 03:20 PM
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Quote:
Originally Posted by IceAce View Post
They really are the NBA's vagabond franchise. This would be what? They're 6th different city since inception?
Fifth or sixth, depending on how you count.

Rochester to Cincinnati to Kansas City AND Omaha to just Kansas City to Sacramento to likely Seattle

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01-23-2013, 04:06 PM
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CantHaveTkachev
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the Sonics got ripped off in '08...every win by the powerhouse Thunder these days must be a dagger in the heart

Getting the Sonics back only makes sense for a city that has a strong basketball history

however, it's gotta be heartbreaking for a city whose only professional sports team is getting ripped from them

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01-23-2013, 04:48 PM
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SACRAMENTO (CBS13) – Mayor Kevin Johnson said in a second consecutive press conference Wednesday on the future of the Kings that there’s now interest from investors in building a downtown arena even without the team.


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01-23-2013, 05:37 PM
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Assuming the Kings do end up relocating to Seattle, would the NBA consider going back to Sacromento if there was a new arena? Would other pro sports consider Sacromento a potential market? I somehow thought that Sacromento was a lot smaller but its CSA has 2.4 million people (#23 in the US) and is larger than other NBA markets like Charlotte, Portland, San Antonio, Indianapolis, Salt Lake City, Milwaukee, Oklahoma City, Memphis, and New Orleans. It's also larger than other notable markets like Pittsburgh, Kansas City, Las Vegas, and Buffalo.

Considering that, would Sacromento be a potential destination (subject to the proper arena/stadium), or would its relative proximity to the Bay Area make it unattractive?

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01-23-2013, 05:51 PM
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Sacramento would probably be at the top of the list for relocation options if/when the Kings relocate to Seattle. Attendance has been down the last few years, and the only reason for that is because of the Maloof brothers. The Kings sold out for years, even when they were terrible throughout the 90's when they were averaging about 25-30 wins a year.

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01-23-2013, 06:11 PM
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Quote:
Originally Posted by MuzikMachine View Post
Assuming the Kings do end up relocating to Seattle, would the NBA consider going back to Sacromento if there was a new arena? Would other pro sports consider Sacromento a potential market? I somehow thought that Sacromento was a lot smaller but its CSA has 2.4 million people (#23 in the US) and is larger than other NBA markets like Charlotte, Portland, San Antonio, Indianapolis, Salt Lake City, Milwaukee, Oklahoma City, Memphis, and New Orleans. It's also larger than other notable markets like Pittsburgh, Kansas City, Las Vegas, and Buffalo.

Considering that, would Sacromento be a potential destination (subject to the proper arena/stadium), or would its relative proximity to the Bay Area make it unattractive?
I visited Sacramento a couple years ago. TBH, it was bigger than I thought.

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01-23-2013, 11:22 PM
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Quote:
Originally Posted by MuzikMachine View Post
Assuming the Kings do end up relocating to Seattle, would the NBA consider going back to Sacromento if there was a new arena? Would other pro sports consider Sacromento a potential market? I somehow thought that Sacromento was a lot smaller but its CSA has 2.4 million people (#23 in the US) and is larger than other NBA markets like Charlotte, Portland, San Antonio, Indianapolis, Salt Lake City, Milwaukee, Oklahoma City, Memphis, and New Orleans. It's also larger than other notable markets like Pittsburgh, Kansas City, Las Vegas, and Buffalo.

Considering that, would Sacromento be a potential destination (subject to the proper arena/stadium), or would its relative proximity to the Bay Area make it unattractive?
It would be the largest metropolitan area in America without a pro sports franchise. I guarantee someone will take that chance. Burkle, on his own, would spearhead such an effort as he has done repeatedly when it comes to trying to save the Kings. The proximity to the Bay is not really an issue. Sacramento stands on its own as a market but it will be limited to two franchises at the most.

The ideal scenario is that Burkle gets ownership of either the Kings or any franchise in the NBA or NHL and brings it here with a new arena. Personally, I would prefer the Kings to leave and have Burkle bring in the Phoenix Coyotes, if they have to move or an expansion hockey franchise, into that new arena. Basketball can still return even if hockey takes the spot but I don't think hockey would come in if basketball stays or returns first.

But you can bet good money that the new arena is going to happen regardless of how the Kings' ownership thing plays out.

Quote:
Originally Posted by puckguy11 View Post
I visited Sacramento a couple years ago. TBH, it was bigger than I thought.
It is definitely large as a metropolitan in terms of land area. A big issue with the city is the fact that they have a huge hole in their downtown just north of the train yard. That's what this arena deal is enduring to fix. There would be a new influx of entertainment with a new arena anchoring the area. They're already starting part of the redevelopment of the area by redoing the train station and trying to make it more of a central hub for public transportation. We'll see what comes of it but a pro team will be here one way or the other. There is too much demand, willing owners, and not enough reasons for both leagues to say no.

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01-24-2013, 01:14 PM
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http://www.sacbee.com/2013/01/23/513...#mi_rss=Sports
Kings in limbo - between a tale of two cities

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01-24-2013, 02:05 PM
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http://www.sacbee.com/2013/01/23/513...#mi_rss=Sports
Kings in limbo - between a tale of two cities
eh, I'd still say that's more wishful thinking on Sacramento's part. There's a deal in place with a reputable potential owner in a market that the NBA top brass is interested in returning to. It's going to take one heck of an impressive argument from Sacramento's mayor and bid from private investors to convince the NBA to not just rubber stamp the sale from the Maloofs to Hansen.

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01-24-2013, 02:14 PM
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Minor/major issue on sales agreement

http://www.king5.com/news/arena/Trus...188236881.html

Bankruptcy Trustee is in control of 7% of the team (Cook's share) is saying that the minority owners have right of first refusal. Thus they would have to match Hansen's offer.

Now why do i have a feeling sac mayor is gonna focus now on getting the minority owners to claim right of first refusal.

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01-24-2013, 02:17 PM
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Originally Posted by gstommylee View Post
Minor/major issue on sales agreement

http://www.king5.com/news/arena/Trus...188236881.html

Bankruptcy Trustee is in control of 7% of the team (Cook's share) is saying that the minority owners have right of first refusal. Thus they would have to match Hansen's offer.

Now why do i have a feeling sac mayor is gonna focus now on getting the minority owners to claim right of first refusal.
I'm sure he'll try, but the bolded is a pretty steep thing that must be done, first.

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01-24-2013, 04:11 PM
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Yeah, some league will try an put a team in Sacramento.
If nothing else, an empty Sacramento is a gift to all the other teams in every sport -- they can all threaten to move to Sacramento now if the local taxpayers don't cough up the subsidies.

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01-24-2013, 06:20 PM
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I think if KJ can come up with a local group to buy the team at a number thats close to the Hansen bid and has the financing in place for an arena they stay.

That being said its hard to put together a $400 million arena financing deal in 6 weeks.

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01-24-2013, 06:34 PM
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eh, I'd still say that's more wishful thinking on Sacramento's part. There's a deal in place with a reputable potential owner in a market that the NBA top brass is interested in returning to. It's going to take one heck of an impressive argument from Sacramento's mayor and bid from private investors to convince the NBA to not just rubber stamp the sale from the Maloofs to Hansen.
1. Isn't Burkle a reputable owner in our league?
2. If this simply echoes Sonicsgate in terms of fan alienation, then moving the Kings to Seattle is essentially moving the black eye in the other direction. Better to wait (Grizzlies, Pelicans, Bobcats, etc) instead of shift Sacramento to the role of "market to which we need to return one day."
3. Sacramento will become the top market nationally with no major pro sports. That spot could be filled before the NBA gets back at all.

The shuffle already makes Stern and the league look bush, but repeating mistakes would only compound the joke.

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01-24-2013, 08:55 PM
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I think if KJ can come up with a local group to buy the team at a number thats close to the Hansen bid and has the financing in place for an arena they stay.

That being said its hard to put together a $400 million arena financing deal in 6 weeks.
The arena deal is already done essentially. It's putting together ownership commitments to match enough of the deal to keep them in Sacramento that's the concern. This came out of the blue which was likely the purpose for the Maloofs to keep some ownership of the team and get out of town.

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01-24-2013, 09:31 PM
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latest:

Larry Ellison, head of Oracle, the company that sponsors the Warriors arena in Oakland, and who sold the Franchise now is being brought in by KJ.

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01-24-2013, 09:48 PM
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I visited Sacramento a couple years ago. TBH, it was bigger than I thought.
20th largest media market. Metro population of 2.6 million. Not shabby.

Sac will fight like nothing else to keep this team. We saw that last time, this time I expect an even stronger fight. Sac loves this team.

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