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OT: NBA Sacramento sale moves along

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Old
02-05-2013, 01:30 AM
  #126
gstommylee
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Originally Posted by LadyStanley View Post
AIUI the lawsuit is being bought by minority owners of the Kings who were told they'd have the right to match any sale deal the Maloofs came up with.

That's a contractual matter between the owners. Not the city (directly).

I don't know that the NBA will be able to come up with anything to "over throw" the minority owners WRT contracts. (Now the new proposed owners might have to throw more $$ to those minority owners to get them to stop their suit.)
As far as i know i heard the only one bring up the ROFR issue is a bankruptcy trustee not the other minority owners. The trustee is trying to make the issue big enough to get more money.

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02-05-2013, 01:59 AM
  #127
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Originally Posted by gstommylee View Post
As far as i know i heard the only one bring up the ROFR issue is a bankruptcy trustee not the other minority owners. The trustee is trying to make the issue big enough to get more money.
hypothetically, could the bankruptcy trustee not use this to make the seattle group bid against a sacramento group, because if the sacremento group buys the 7% stake they'd have the right to match the seattle offer? Does that even work retroactively?

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02-05-2013, 12:39 PM
  #128
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Originally Posted by danishh View Post
hypothetically, could the bankruptcy trustee not use this to make the seattle group bid against a sacramento group, because if the sacremento group buys the 7% stake they'd have the right to match the seattle offer? Does that even work retroactively?
I don't think the ROFR is transferable. If a person in the Sacramento group buys the 7% he would be on the current agreement which is the hansen's sale purchase of the team i believe.

By the time that 7% is actually sold in auction the NBA sale to Hansen would be already been approved. Plus why would the sacramento group overpay for that 7% + pay the 340m for 65% of the team?

Since there is a signed binding sales agreement, the local group can not make an offer to the maloofs or they can get sued for interference. The trustee is only doing in his own best interest he is making a stink out of this for the $$$.

The best chance for the Kings to stay is come up with a much larger offer and i mean more than 525m and hope NBA BOGs reject the sale to hansen's group.

If the NBA wants this deal to happen it'll happen and will defend it if this goes to litigation.

Another thing its been report that Burkle one of the suppose whales is making a bid for AEG. If he gets AEG then he can't be involved in trying to buy the kings since he would own 30% of the lakers.


Last edited by gstommylee: 02-05-2013 at 12:45 PM.
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02-05-2013, 12:59 PM
  #129
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So what is the reality of Seattle getting a hockey team? I don't really have time to read all of this thread.

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02-05-2013, 01:43 PM
  #130
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Originally Posted by wondeROY View Post
So what is the reality of Seattle getting a hockey team? I don't really have time to read all of this thread.
Long story short: If Seattle gets an NBA team i.e the Sacramento Kings moving up for next season or (unlikley) expansion. Once the team is secure, ground can break on the arena (after enviornmental assesment, final approval).

Once the arena in a sure thing, then a NHL team may follow shortly i.e Phoenix Coyotes moving for next season or (pretty likley) expansion.

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02-05-2013, 06:21 PM
  #131
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Quote:
Originally Posted by Mightygoose View Post
Long story short: If Seattle gets an NBA team i.e the Sacramento Kings moving up for next season or (unlikley) expansion. Once the team is secure, ground can break on the arena (after enviornmental assesment, final approval).

Once the arena in a sure thing, then a NHL team may follow shortly i.e Phoenix Coyotes moving for next season or (pretty likley) expansion.
this has absolutely nothing to do w/ hockey..... it never did, and never will, SODO'S ARENA is a requirement to in essence replace Key Arena @ Seattle Center, nothing that says Hansen and the Maloofs come to an agreement, all it did was trigger 80 M fee-wise, should Levin be involved w/ a second tenant....

IF Levin is to be believed, and Phoenix was off the table, what other franchises are there to relocate a la Sacramento, that's been the whole point of the subset topic.


this is what the subset topic boils down to: Does Chris Hansen restore the Seattle Sonics franchise by the fall of 2013/14, AFTER what Clay Bennett and Greg Nichols, as well as Howard Schultz did back in 2008, that caused the Sonics to be relocated to OKC, THE ? then becomes the subset of the Thunder's agreement w/ Seattle over its history prior to 2008.


Last edited by CHRDANHUTCH: 02-05-2013 at 06:34 PM.
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02-06-2013, 08:47 PM
  #132
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Paperwork filed.

http://espn.go.com/nba/story/_/id/89...led-relocation

Honestly thought they would have waited until after the All-Star game so it's not overshadowed. I guess if the ducks are lined up, why waste time?

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02-06-2013, 10:33 PM
  #133
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Originally Posted by Mightygoose View Post
Paperwork filed.

http://espn.go.com/nba/story/_/id/89...led-relocation

Honestly thought they would have waited until after the All-Star game so it's not overshadowed. I guess if the ducks are lined up, why waste time?
relocation deadline is march first.

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02-07-2013, 12:07 AM
  #134
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Originally Posted by gstommylee View Post
relocation deadline is march first.
The All-star game is on the 17th.

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02-07-2013, 12:40 AM
  #135
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http://www.sacbee.com/2013/02/06/517...#mi_rss=Sports

Quote:
A formal relocation request has been filed to move the Sacramento Kings to Seattle, NBA Commissioner David Stern said today.

It is unclear when the relocation request was submitted. But the announcement was expected after the Maloofs, who own the team, agreed to sell the franchise last month to a group in Seattle.

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02-07-2013, 12:47 AM
  #136
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It wouldn't surprise me if it was filed after the 30m became non-refundable. From what i heard Kevin Johnson was surprised to hear the announcement. He was expecting it to be filed at the end of the month.

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02-07-2013, 12:00 PM
  #137
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Chris Daniels tweeted saying he is hearing that it was maloof that filed for relocation not Hansen's group.

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02-07-2013, 12:03 PM
  #138
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Quote:
Originally Posted by gstommylee View Post
Chris Daniels tweeted saying he is hearing that it was maloof that filed for relocation not Hansen's group.
If that's the case, then I don't see KJ saving the team.

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02-07-2013, 12:06 PM
  #139
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If that's the case, then I don't see KJ saving the team.
Since the Sale has not been approved by the league Maloofs still control the team and since they have 30m in their pockets now they are doing it on behalf of Hansen's group.

Here's the tweet

Chris Daniels ‏@ChrisDaniels5
One AM clarification: I’m hearing Maloofs filed for #NBAKings relocation on behalf of Hansen group, since franchise sale not approved yet.

NBA can still say no to the sale though. Huge question is will KJ get everything done before he makes his pitch to the NBA BOG. Location picked, ownership group, actually arena deal finalized etc in 2 months and a week from now.

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02-07-2013, 04:40 PM
  #140
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Ah, that makes sense, then.... the other owners wouldn't have the same right to prevent an ownership change versus a relocation by the old owner.

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02-07-2013, 08:24 PM
  #141
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Originally Posted by No Fun Shogun View Post
Ah, that makes sense, then.... the other owners wouldn't have the same right to prevent an ownership change versus a relocation by the old owner.
Relocation won't happen if sale to seattle's group is rejected. Maloofs can't be majority owners of the team if they move to seattle per arena deal.

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02-07-2013, 09:24 PM
  #142
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Originally Posted by gstommylee View Post
Relocation won't happen if sale to seattle's group is rejected. Maloofs can't be majority owners of the team if they move to seattle per arena deal.
True, but for the millionth time, the NBA is not going to reject the Hansen buy. It's just wishful thinking on behalf of Kings fans.

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02-07-2013, 10:18 PM
  #143
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Originally Posted by wondeROY View Post
So what is the reality of Seattle getting a hockey team? I don't really have time to read all of this thread.
If a new arena is built, I see it as almost a certainty. However, the Seattle Center is not suitable for hockey even temporarily---ask the Thunderbirds.

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02-07-2013, 10:24 PM
  #144
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If a new arena is built, I see it as almost a certainty. However, the Seattle Center is not suitable for hockey even temporarily---ask the Thunderbirds.
Levin who is a potential possible for a owner of NHL team said Key Arena will work as a temporary facility. Of course another person may give a different opinion. Ultimately it'll come down to the owner of said team if he wants to use Key Arena or not as temp facility.

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02-09-2013, 05:47 AM
  #145
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True, but for the millionth time, the NBA is not going to reject the Hansen buy. It's just wishful thinking on behalf of Kings fans.
Agreed. The Kings relocating to Seattle is just too good to be true for Stern in that it ties up a number of loose ends all at once:

1. The league get rid of the Maloofs who have been absentee landlord owners for some time now. I'm quite sure that when they reneged on the Arena deal (that the City council approved by a 7-2 majority last March) Stern was done dealing with their idiocy.

2. It brings a team back to Seattle - its a bigger market and makes amends for losing the Sonics in the first place. Also, Stern said that he was gonna bring a team back to Seattle prior to ending his tenure as Commissioner, this way he makes good on that promise.

3. The whole uncertainty that has surrounded the Kings franchise for the past 5 years coupled with the inability to strike an arena deal which is acceptable to taxpayers and ownership alike is a thing of the past. I think moving the Kings will represent a significant relief for Stern and the BOG in that they won't have to concern themselves with propping up or worrying about a franchise that appears to no longer be sustainable.



This might be a blessing in disguise for Sacramento, in a superstar dominated league like the NBA small market teams are pissing in the wind, really they are just there to make up the numbers and I personally think that an NFL/MLB/NHL, hell even an MLS team is a much more attractive proposition for a market the size of Sacramento which will always struggle to lure free agents. I'm not saying that any of the aforementioned leagues will relocate or expand to Sacramento but losing the Kings really is addition by subtraction in my view.

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02-09-2013, 10:35 AM
  #146
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Originally Posted by aemoreira1981 View Post
If a new arena is built, I see it as almost a certainty. However, the Seattle Center is not suitable for hockey even temporarily---ask the Thunderbirds.
Seattle Center was a great home for the Thunderbirds when they were at Mercer Arena.

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02-09-2013, 01:08 PM
  #147
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Originally Posted by RASHEED FLYER FAN View Post
3. The whole uncertainty that has surrounded the Kings franchise for the past 5 years coupled with the inability to strike an arena deal which is acceptable to taxpayers and ownership alike is a thing of the past. I think moving the Kings will represent a significant relief for Stern and the BOG in that they won't have to concern themselves with propping up or worrying about a franchise that appears to no longer be sustainable.
You ripped the Maloofd or being absentee owners, but then say the city could ot get something done that was acceptable for ownership? The city has done far more than it's part by now. I doubt Stern wants other markets so look at relocation as an uphill battle that they can't win, because then there is lower bidding and smaller public contributions.

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02-09-2013, 08:44 PM
  #148
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Originally Posted by krudmonk View Post
You ripped the Maloofd or being absentee owners, but then say the city could ot get something done that was acceptable for ownership? The city has done far more than it's part by now. I doubt Stern wants other markets so look at relocation as an uphill battle that they can't win, because then there is lower bidding and smaller public contributions.
There will always be suckers out there.

Like Oklahoma City.

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02-10-2013, 11:03 PM
  #149
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Originally Posted by krudmonk View Post
You ripped the Maloofd or being absentee owners, but then say the city could ot get something done that was acceptable for ownership? The city has done far more than it's part by now. I doubt Stern wants other markets so look at relocation as an uphill battle that they can't win, because then there is lower bidding and smaller public contributions.
Yeah, I live in Sacramento and have followed this fiasco with much bemusement. In March of 2012 the city council passed a deal to provide public financing for a new arena by a vote of 7-2. At the time the Maloofs were squarely behind this plan but backed out of the whole thing in mid April. At their press conference to announce the decision George Maloof began talking about the possibility of refurbishing Arco Arena. It was an outrageous U turn given the fact the Maloofs had spent much of the prior decade lobbying for a new facility

Anyway, this whole Kings/new arena/relocation thing has dragged on for so long that I'm quite sure Stern will be pleased when he gets closure on the whole sorry mess.

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02-10-2013, 11:13 PM
  #150
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I feel bad for Sacramento. I wonder if MLB would work there.

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