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Metro Seattle: NHL, NBA and Arena - Part VI

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Old
03-21-2013, 05:18 PM
  #576
superdeluxe
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No term sheet today.


Guessing burkle wants more $$$$ since AEG pulled their 50 million

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03-21-2013, 05:48 PM
  #577
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Quote:
Originally Posted by superdeluxe View Post
No term sheet today.


Guessing burkle wants more $$$$ since AEG pulled their 50 million
HE and Mastrov just added the current Vice Chairman of the GS Warriors (Ranadive), superdeluxe.

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03-21-2013, 05:53 PM
  #578
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HE and Mastrov just added the current Vice Chairman of the GS Warriors (Ranadive), superdeluxe.
Which from what i read on twitter will only sell his shares of the Warriors if NBA votes down the sale to hansen. No term sheet today means no vote on tuesday thus next vote date is apirl 2nd 1 day before NBA's deadline. It doesn't matter who they have for investors for the team no arena means the sale to hansen is a done deal.

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Old
03-22-2013, 12:23 PM
  #579
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Looks like all the IWLU stuff is coming from Union leadership:

Rich Green ‏@CTCRich 19 Mar
@ArenaSolution Just had a chat with ILWU member. Rank & File has no idea why the union is objecting to #Sonics Arena in SoDo. @ChrisDaniels5

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Old
03-22-2013, 12:25 PM
  #580
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Field of Schemes exposes Sactown's Fuzzy math on arena:

http://www.fieldofschemes.com/2013/0...rking-garages/

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.

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03-22-2013, 12:45 PM
  #581
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Chris Daniels ‏@ChrisDaniels5 14m
As of this AM, there is no arena term sheet in #Sacramento. No timetable on when it may post, according to multiple people I talked with.

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03-23-2013, 06:47 PM
  #582
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Originally Posted by superdeluxe View Post
Field of Schemes exposes Sactown's Fuzzy math on arena:

http://www.fieldofschemes.com/2013/0...rking-garages/
Field is schemes is unbiased. This much you can say.

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03-24-2013, 09:31 AM
  #583
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So Sacramento has their new arena deal together. It all comes down to to April 2nd vote, whether the Hansen gets the Kings, and whether Seattle gets a new arena and therefore (basically) an NHL team.

What do you guys think?

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03-24-2013, 10:07 AM
  #584
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Quote:
Originally Posted by Stonewall View Post
So Sacramento has their new arena deal together. It all comes down to to April 2nd vote, whether the Hansen gets the Kings, and whether Seattle gets a new arena and therefore (basically) an NHL team.

What do you guys think?
The vote to determine the fate of the Kings would be actually April 18 or 19 during the BOG meetings.

April 2 is when Sacremento presents their bid to the NBA in New York. Now with Ranadive apparently throwing his hat in the ring, I presume they'll up the ante compared to the bid submitted earlier this month.

Still my spidey senses tell me Seattle has nothing to worry about.

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Old
03-24-2013, 10:27 AM
  #585
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Originally Posted by Mightygoose View Post
The vote to determine the fate of the Kings would be actually April 18 or 19 during the BOG meetings.

April 2 is when Sacremento presents their bid to the NBA in New York. Now with Ranadive apparently throwing his hat in the ring, I presume they'll up the ante compared to the bid submitted earlier this month.

Still my spidey senses tell me Seattle has nothing to worry about.
Also, starting to see reports leak out that if Sac does end up matching the Seattle offer that Hansen and Co. will have an opportunity to counter that ... and so it goes.

"Johnson hinted that the Sacramento offer will increase substantially when he Tweeted that "the new ownership, historic in its reflection of our city's diversity, will invest up to $1B (billion) in (Sacramento)." It is thought that the Seattle group may also have the ability to increase its offer."

http://seattletimes.com/html/sports/...ramento24.html

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03-24-2013, 12:20 PM
  #586
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Sacramento seems to be gaining some steam, but then again so was Seattle at the prospect of being able to retain their team before the city government just folded and let the Sonics leave (despite a lawsuit by the old owner being in the works once it became obvious that the new ownership had zero interest in keeping the team in the market from the get-go), so I'd say that Seattle's still the prohibitive favorite for having the team over Sacramento next year.

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03-24-2013, 04:11 PM
  #587
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It only appears sac town is gaining steam because they are in the news. That's it. Everyone knew they would be able to throw together a non-binding term sheet together

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03-24-2013, 06:31 PM
  #588
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Quote:
Originally Posted by superdeluxe View Post
It only appears sac town is gaining steam because they are in the news. That's it. Everyone knew they would be able to throw together a non-binding term sheet together
True, but I meant more along the lines of going from 0% chance of staying to 2%.

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Old
03-25-2013, 09:54 AM
  #589
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Field of Schemes breaks down the term sheet:

http://www.fieldofschemes.com/2013/0...venue-machine/

Quote:
What is potentially a snag here: What the Sacramento city council will be voting on, as soon as this Tuesday, isn’t actually this financing plan. Rather, it’s just a nonbinding term sheet for a financing plan, which means there will be need to be another council vote down the road to actually approve the money. And while a positive council vote this week would certainly be a good sign for the NBA, the league is going to have to be at least mildly concerned that if it rejects the Kings’ move to Seattle in April, this Rube Goldberg scheme of a finance plan could be discovered to be unworkable before it came to an official vote, and then everyone would be back where they started.

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03-26-2013, 10:55 AM
  #590
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Mitch in the Morning KJR states today from blog post over at Sonics Rising:

Mitch says Hansen has put a packet in the NBA’s hands showing how much more “financially productive” the team would be in Seattle.

Now Mitch saying that Hansen, et al, have surveyed corporate sponsors and the numbers have exceeded their expectations and that a TV deal in Seattle would be 4 to 5 times larger than the same deal in Sacto.

Mitch saying the ONLY thing in Sacramento’s favor is keeping the team in town.

Also says that owners don’t want to set a precedent of letting the NBA tell them who they have to sell to.

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Old
03-27-2013, 04:39 AM
  #591
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Looks like Seattle is the safe bet.

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Old
03-27-2013, 11:46 AM
  #592
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Anyone know how special this Mathew Barzal guy is? apparently Seattle has a good shot of getting him next year for the thunderbirds.

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Old
03-27-2013, 11:55 AM
  #593
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@ChrisDaniels5: RT @MegCoyleKING: Magic Johnson getting #weday crowd riled up talking sonics potential return to Seattle. @ChrisDaniels5

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03-27-2013, 01:07 PM
  #594
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nickmonacelli ‏@nickmonacelli
BREAKING: Cook’s bankruptcy lawyers completed negotiations to sell his 7% to Chris Hansen of Seattle. As of Tues he was only serious offer.

hansen has acquired cook's 7% that was in bankruptcy now he will own 72% of the team.

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Old
03-27-2013, 01:31 PM
  #595
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Quote:
Originally Posted by gstommylee View Post
nickmonacelli ‏@nickmonacelli
BREAKING: Cook’s bankruptcy lawyers completed negotiations to sell his 7% to Chris Hansen of Seattle. As of Tues he was only serious offer.

hansen has acquired cook's 7% that was in bankruptcy now he will own 72% of the team.

Boom. Not that I was ever really worried about the ROFR, still good news.

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03-27-2013, 01:38 PM
  #596
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Game, Set, Match.

Hansen wins

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03-27-2013, 03:04 PM
  #597
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Wow, this is really great news. I've been worried so much about Seattle not getting an arena. Finally some news to bank on.

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Old
03-27-2013, 03:12 PM
  #598
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That is a transfer sale of 7% and shouldn't impact the meetings in NYC. This isn't a done deal yet for Seattle, though they'll probably win.

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03-27-2013, 03:33 PM
  #599
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nickmonacelli @nickmonacelli

Sale gives current limited partners right to match the offer by 15 days.



John Kehriotis could match.

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03-27-2013, 03:45 PM
  #600
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nickmonacelli @nickmonacelli

Sale gives current limited partners right to match the offer by 15 days.



John Kehriotis could match.
If Kehriotis wanted that 7% then why didn't he make a bid for it?

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