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

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Old
03-19-2013, 12:40 PM
  #351
gstommylee
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Originally Posted by Mightygoose View Post
A 'playing to win' tour bus is going on the road which week to lobby other cities and meeting the Mayor on April 3 in Manhattan

http://www.examiner.com/article/effo...oes-nationwide



Taxpayer's money well spent ....hope the donations add up
yea they are gonna attempt to convince the NBA to stay no by getting the cities to tell the teams owners to say no.

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03-19-2013, 09:00 PM
  #352
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At least they're showing that they care.

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03-20-2013, 06:46 PM
  #353
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http://www.sacbee.com/2013/03/20/527...ena-kings.html

Quote:
The frantic process of hammering out a financing plan for a new downtown sports arena has reached its most pivotal day.

Sacramento city officials said Tuesday night they remain on track to release a plan Thursday that will lay out how they intend to pay for an arena at the site of the Downtown Plaza.
...
The city manager wants the term sheet released for public viewing by Thursday to give the City Council five days to examine the proposal before a council vote Tuesday. Shirey said he would notify the City Council if a deal is not reached with Burkle by the end of business today.

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03-20-2013, 10:09 PM
  #354
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Quote:
Originally Posted by LadyStanley View Post
read Marcos Breton's column from the 15th, LS, even he doubts Sacramento's bid to retain the Kings as a 'fools' errand'.

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03-21-2013, 05:26 PM
  #355
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Another investor being brought in to the Burkle/Mastrov/ SAC vs SEA battle: According to the latest from the Sacramento Bee: 55 yr Old Indian born Vivek Ranadive, founder of TIBCO Software, a 1 B a yr company based in Palo Alto, has been brought in, holdings approximately 318M, or 8% of said company, but also currently is Vice Chairman of the GS (SF) Warriors, a team that was targeted by Mark Mastrov as far back as 2010.

All this sets up a showdown and a decision by April 3rd, the interim decision on whether the Hansen PSA, gets approval in the final vote on April 18th or 19th.

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03-21-2013, 06:18 PM
  #356
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Originally Posted by LadyStanley View Post
Most pivotal day indeed.

http://www.sacbee.com/2013/03/21/528...own-plaza.html

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03-21-2013, 06:23 PM
  #357
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Ranadive would have to sell his share of the warriors before getting involved in the bid to try buy the team to keep them there or there would be a conflict of interest.

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03-21-2013, 09:16 PM
  #358
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Originally Posted by gstommylee View Post
Ranadive would have to sell his share of the warriors before getting involved in the bid to try buy the team to keep them there or there would be a conflict of interest.
Since when has that been how it works? They normally give you a grace period to sell your interests in another team after you've completed the paperwork to purchase the new one. Otherwise, you're asking owners to potentially give up ownership for no guarantee. That's bad business at this level.

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03-21-2013, 09:49 PM
  #359
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Quote:
Originally Posted by Pinkfloyd View Post
Since when has that been how it works? They normally give you a grace period to sell your interests in another team after you've completed the paperwork to purchase the new one. Otherwise, you're asking owners to potentially give up ownership for no guarantee. That's bad business at this level.
Even if Ranadive were to get involved he was part of the same group that Mastrov himself targeted before the sale to Cohen et all, PF, the latest is there's no deal even going forward to vote by the 26th, according to the Bee.

no one knows what Ranadive's net worth is or even if this is desperation on Mastrov's part to save face in Sacramento, whether it's the downtown arena or the Kings.

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03-22-2013, 12:28 AM
  #360
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Is Burkle's ploy a lure to the potential team investors to flash him some cash in order to get the arena built, Kings or no?

Doesn't mean it won't get an arena deal done. It's just one more reason the Kings are very likely to end up out the door while all the pieces are being retrieved. OTOH, it's similar greed that makes me wonder if Seattle sells out to get the Sonics while this discussion is all for naught regarding hockey.

One more thought: should Sacramento make the play to get the new arena, is there any discussion of trying to raise the profile of Sac State basketball? Of giving them a rent break? It's a risk, it may not work (Portland State drew flies when they reinstated men's basketball and played in the then-new Rose Garden), but it might be smart to throw that into the mix.

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03-22-2013, 07:41 AM
  #361
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Originally Posted by PCSPounder View Post

OTOH, it's similar greed that makes me wonder if Seattle sells out to get the Sonics while this discussion is all for naught regarding hockey.
I do not understand what you are trying to say here. There will be no NHL in Seattle until an NBA team is secured so all focus should be on getting the Kings at this point.

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03-22-2013, 12:26 PM
  #362
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Field of Schemes takes a look at proposed arena funding:


Quote:
Instead of leasing out the city’s future parking revenues to a private operator and using the proceeds to pay for the arena, the city plans to form a non-profit corporation that will get the parking revenues, plus hotel tax money, and use that to pay the bonds.
The lost parking revenues from the general fund would be paid off with excess parking revenues from the non-profit, plus ticket taxes.


Anybody spot the problem here? (Other than that the rendering in the video is pretty horrible.) In order to help fund a basketball arena, the city will divert $9 million a year in future parking revenues to a non-profit, which will use the money to pay for the arena, then take whatever’s left over and repay the city for its $9 million in — wait just a cotton-pickin’ second here…

Unless the Sacramento city manager really thinks that you can make money magically multiply by shuffling it back and forth really fast between two cups, then, the only thing really new about this deal is the introduction of a non-profit shell corporation to actually sell the bonds and collect the parking revenues
http://www.fieldofschemes.com/2013/0...rking-garages/

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03-22-2013, 12:53 PM
  #363
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Originally Posted by nwpensfan View Post
I do not understand what you are trying to say here. There will be no NHL in Seattle until an NBA team is secured so all focus should be on getting the Kings at this point.
If Chris Hansen wants no part of an NHL ownership group, who will? Levin apparently doesn't. Someone here claims Levin puts the odds of NHL in the new building at 10%. I don't really want to put stock into that, but the game among billionaires is the key part of this story as much as is the Seattle-Sacramento battle for the Kings.

I've made this point before: 8 of the 9 arenas that share NBA and NHL are in the 12 largest NA markets. If an owner can make up for some arena revenue loss (compared to where said owner COULD own a team) with TV money, sharing is more worth the risk. Seattle, being outside that top 12, may or may not have other revenues to offset the probability of Hansen asking to skim certain hockey revenues if he gets someone wanting a lease. I know people have talked about the provisions where Hansen theoretically accepts the NHL, but none of them are financial guarantees (rent break, 100% of suite revenue, etc.). I know where Seattle lay on the market size scale, but it's a question whether that's actually big enough for a league that's never been in town.

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03-22-2013, 01:25 PM
  #364
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Originally Posted by PCSPounder View Post
If Chris Hansen wants no part of an NHL ownership group, who will? Levin apparently doesn't.

Wha?

http://www.king5.com/news/arena/Pros...189257421.html

Quote:
However, he reiterated his desire to acquire an NHL franchise and have them play in Seattle. Levin said he recently sent an email to Seattle Arena investor Chris Hansen, congratulating him. He said he'd like to work with Hansen potentially in the future.

"I'm certainly, yes, willing to do anything," to put a hockey team in Seattle, said Levin. He added that he believes KeyArena could work as a temporary home for a franchise.

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03-22-2013, 04:13 PM
  #365
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Quote:
Originally Posted by PCSPounder View Post
If Chris Hansen wants no part of an NHL ownership group, who will? Levin apparently doesn't. Someone here claims Levin puts the odds of NHL in the new building at 10%. I don't really want to put stock into that, but the game among billionaires is the key part of this story as much as is the Seattle-Sacramento battle for the Kings.

I've made this point before: 8 of the 9 arenas that share NBA and NHL are in the 12 largest NA markets. If an owner can make up for some arena revenue loss (compared to where said owner COULD own a team) with TV money, sharing is more worth the risk. Seattle, being outside that top 12, may or may not have other revenues to offset the probability of Hansen asking to skim certain hockey revenues if he gets someone wanting a lease. I know people have talked about the provisions where Hansen theoretically accepts the NHL, but none of them are financial guarantees (rent break, 100% of suite revenue, etc.). I know where Seattle lay on the market size scale, but it's a question whether that's actually big enough for a league that's never been in town.
Hansen most certainly wants to be a part of an NHL ownership group just not in majority position. He actually has an $80M (in additional city/county upfront funds) incentive to get the NHL in Seattle. Where do you get Levin doesn't want to be involved (as noted by 'superdeluxe')? Are you making this stuff up or is it wishful thinking?

Even if Levin said the 10% thing it was probably before Hansen got the PSA on the Kings and even then 10% probability to me is not all bad considering the chances of an NHL franchise just one year ago.


Last edited by nwpensfan: 03-22-2013 at 04:22 PM.
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Old
03-22-2013, 04:20 PM
  #366
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Originally Posted by nwpensfan View Post
Hansen most certainly wants to be a part of an NHL ownership group just not in majority position. He actually has an $80M (in additional city/county upfront funds) incentive to get the NHL in Seattle. Where do you get Levin doesn't want to be involved (as noted by 'superdeluxe')? Are you making this stuff up or is it wishful thinking?
I think the quote of being a 10% chance is being taken out of context.

Levin did say while there the whole effort of trying to get a NHL arena built in Bellevue did say that hansen only has a 10% chance of getting a NHL team.

Levin backed off on the bellueve idea and conceded to Hansen and now wants to be involved in the NHL group for the sodo arena.

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03-23-2013, 07:13 PM
  #367
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10 days prior to the comment superdeluxe posted, Levin said that Hansen wasn't really working with him, inferring that Hansen was working with a different group of people, yet Hansen doesn't really say anything.

Is this completely behind the scenes while Levin's out in the cold offering his services? Maybe.

Is there a ruse and Levin is working with Hansen? Maybe.

It seems more possible that Hansen is looking for a rent threshhold that NHL owners ought not pay unless the market is bigger.

I pose this more because the economics aren't simply as cut-and-dried as "we make more money by having two teams in the building." It's the definition of "we" that is at issue. I'm just following the money.

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03-23-2013, 09:23 PM
  #368
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http://www.sacbee.com/2013/03/23/528...#mi_rss=Sports

Quote:
Sacramento Mayor Kevin Johnson has announced the city has reached an agreement on a $448 million deal with a private investment group to build an arena at the Downtown Plaza site.

The city will put $258 million in value into the deal, mainly by bonding against its downtown parking garage future revenues, and by selling several downtown parcels to developers.

The development team will put $190 million into the deal. That team is made of up investment billionaire Ron Burkle, 24 Hour Fitness founder Mark Mastrov, and Vivek Ranadive, a Silicon Valley entrepreneur.
...
The preliminary term sheet, agreed upon this afternoon after weeks of negotiations, is non-binding, however.

It must be approved by the City Council, a vote that is set for Tuesday night. It is contingent as well on the Maloof family accepting a bid from the investment group to buy the Sacramento Kings.

The Maloofs have already signed a deal to sell the team to a Seattle group. Sacramento officials hope to persuade the NBA to nullify that deal, and push the Maloofs to sell to the group that plans to keep the team in Sacramento.
Includes lease/agreement to keep Kings in Sacramento for 35 years.

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03-23-2013, 09:44 PM
  #369
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Looks like the Kings will stay in Sacremento. Great news!!

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03-23-2013, 09:54 PM
  #370
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**** just got real.

A lot of "if's", but it just got real.

Also, those Seattle fans claiming this was all a part to get a future team can come say they're wrong now.


Last edited by Clowe Me: 03-23-2013 at 10:13 PM.
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03-23-2013, 10:46 PM
  #371
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Originally Posted by Clowe Me View Post
**** just got real.

A lot of "if's", but it just got real.

Also, those Seattle fans claiming this was all a part to get a future team can come say they're wrong now.
No NBA team, no new arena i think is the word in Seattle. Humm, might the Coyotes be headed to Québec after all?

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03-23-2013, 11:02 PM
  #372
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Originally Posted by Clowe Me View Post
**** just got real.

A lot of "if's", but it just got real.

Also, those Seattle fans claiming this was all a part to get a future team can come say they're wrong now.
Sacramento tax payers on the hook if parking revenue doesn't generate enough $$$.


Last edited by superdeluxe: 03-23-2013 at 11:29 PM.
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03-23-2013, 11:03 PM
  #373
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Originally Posted by Patofqc View Post
No NBA team, no new arena i think is the word in Seattle. Humm, might the Coyotes be headed to Québec after all?
Lol, all Quebec fans are pulling for Sacramento

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03-23-2013, 11:10 PM
  #374
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@fieldofschemes: New #SacKings owners would pay off old arena debt via means “to be determined.” Not a good start here.””

**

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03-23-2013, 11:13 PM
  #375
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California tax payers on the hook if parking revenue doesn't generate enough $$$.
You're not being specific enough. California taxpayers aren't on the hook for anything. Sacramento taxpayers are.

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