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

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02-23-2013, 07:27 PM
  #1
LadyStanley
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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.

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

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02-23-2013, 09:43 PM
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Mightygoose
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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

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02-23-2013, 09:56 PM
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gstommylee
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Originally Posted by Mightygoose View Post
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.

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02-23-2013, 10:43 PM
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superdeluxe
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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

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02-24-2013, 11:32 AM
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DaveTheHockeyFan
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Kings or no Kings, KJ still says he will get an arena built.


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02-24-2013, 12:02 PM
  #7
gstommylee
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Originally Posted by superdeluxe View Post
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.

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02-24-2013, 10:39 PM
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wunderpanda
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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.

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02-25-2013, 09:25 AM
  #9
gstommylee
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Originally Posted by wunderpanda View Post
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.

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02-26-2013, 09:20 AM
  #10
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Source: Minority Owner has $750 Million Plan to Buy Kings, Build Arena

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


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02-26-2013, 09:55 AM
  #11
gstommylee
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Quote:
Originally Posted by DaveTheHockeyFan View Post
Source: Minority Owner has $750 Million Plan to Buy Kings, Build Arena

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

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.

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02-26-2013, 10:21 AM
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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?

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02-26-2013, 10:28 AM
  #13
gstommylee
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Originally Posted by Shockmaster View Post
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.

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02-26-2013, 11:47 PM
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Quote:
Originally Posted by gstommylee View Post
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 View Post
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.

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02-27-2013, 12:10 AM
  #15
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City Council approves city manager's request to negotiate terms of arena financing plan by 7-2 vote

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02-27-2013, 09:17 AM
  #16
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Quote:
Originally Posted by DaveTheHockeyFan View Post
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?

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02-27-2013, 09:27 AM
  #17
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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.

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Old
02-27-2013, 10:35 AM
  #18
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Quote:
Originally Posted by Shockmaster View Post
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.

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02-27-2013, 11:00 AM
  #19
Shockmaster
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Originally Posted by DaveTheHockeyFan View Post
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.

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02-27-2013, 09:37 PM
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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.

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Old
02-27-2013, 10:50 PM
  #21
gstommylee
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Originally Posted by aqib View Post
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.

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02-28-2013, 09:00 PM
  #22
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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.

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02-28-2013, 09:09 PM
  #23
gstommylee
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So its Mastrov vs Hansen/balmer/nordstorm for the kings?

Best of luck to Mastrov.

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Old
02-28-2013, 09:20 PM
  #24
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Quote:
Originally Posted by DaveTheHockeyFan View Post
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.

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02-28-2013, 09:20 PM
  #25
Melrose Munch
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Why can't the NBA just do a 2 team expansion to Seattle and Vancouver, and end this?

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