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OT Sacramento looking to finance new arena; UPD NBA rejects relocation to Seattle bid
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.
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.
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.
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?
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.
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.
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.
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.
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.
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.
