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Metro Seattle: NHL, NBA and Arena - Part VI

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Old
04-08-2013, 11:57 AM
  #751
silvercanuck
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Quote:
Originally Posted by AdmiralsFan24 View Post
David Boardman (Executive Editor, Seattle Times) just said he sees it as at best 50/50 right now that Seattle gets the Kings.
way to go out on a limb there Seattle Times

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04-08-2013, 12:00 PM
  #752
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Originally Posted by silvercanuck View Post
way to go out on a limb there Seattle Times
Well in his defense, he did say chances were much higher (don't remember the exact percentage he gave) before the Kings passed their arena deal.

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04-08-2013, 01:33 PM
  #753
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Any truth to this? (Sorry if already discussed)

https://twitter.com/darrenrovell/sta...21099235319808

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04-08-2013, 03:27 PM
  #754
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Any truth to this? (Sorry if already discussed)

https://twitter.com/darrenrovell/sta...21099235319808

He's been anti seattle for a while.

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04-08-2013, 03:51 PM
  #755
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I'm not in finance, but this latest report about "debt" makes no sense to me. As far as Hansens debt is concerned, isn't that kind of his business? The "debt" attached to the team and arena could be creative accounting or it could be hedged against his other investments for all we know. As long as the city of Seattle is indemnified from any debt attached to the arena what difference does it make?

and secondly.. how does Daniel Kaplan know anything about the numbers? I don't see any links or sources. What is his source?

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04-08-2013, 04:04 PM
  #756
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from the sonics arena website

Quote:
Originally Posted by sonicsarena.com
Again, the total cost of the Arena and NBA franchise is projected to be in excess of $800 million, and if we add an NHL franchise, the total investment is expected to be in excess of $1 billion. Thus, even though the private sector contribution will still be in excess of $600 million ($800 million with hockey), the $200 million public contribution meaningfully reduces the significant capital required to fund the Arena construction.

We would also just like to clarify one other point. Contrary to recent speculation from some journalists that our group plans to use debt to finance the entire private contribution, the NBA investor group is planning to invest $300-400 million in “cash equity” into the project (Arena and NBA Franchise), and additional equity will be contributed if an NHL franchise is acquired. The private debt financing contemplated for the project is less than $300 million ($150 million for the Arena, $125 million for the NBA franchise).
http://www.sonicsarena.com/news/why-...the-sodo-arena

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04-08-2013, 04:23 PM
  #757
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quick and thoughtful response from sonicsarena.

whether the city gets an nhl team or not, one thing's for sure ... seattle aint no glendale when it comes to the flow of information. refreshing when compared to the "work in progress", "cautiously optimistic" or "two weeks" doublespeak BS.

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04-08-2013, 09:15 PM
  #758
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Originally Posted by AdmiralsFan24 View Post
Well in his defense, he did say chances were much higher (don't remember the exact percentage he gave) before the Kings passed their arena deal.
The Times has been staunchly anti-arena from the beginning and in bed with the port. I wouldnt pay any attention to their "opinions".

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04-08-2013, 10:37 PM
  #759
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Originally Posted by cutchemist42 View Post
Any truth to this? (Sorry if already discussed)

https://twitter.com/darrenrovell/sta...21099235319808
According to this article:

http://www.sactownroyalty.com/2013/4...less?ref=yahoo

Seattle will be nearly a half billion in debt and Sacramento will only be 77 million in debt.

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04-08-2013, 10:40 PM
  #760
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Originally Posted by Clowe Me View Post
According to this article:

http://www.sactownroyalty.com/2013/4...less?ref=yahoo

Seattle will be nearly a half billion in debt and Sacramento will only be 77 million in debt.

Its a NON issue being spinned as if its a major issue.

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04-08-2013, 10:42 PM
  #761
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Originally Posted by gstommylee View Post
Its a NON issue being spinned as if its a major issue.
Apparently it's true, though.

edit: The debt, I mean. Don't know if it will be an issue for Stern and the league or not.

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04-08-2013, 10:44 PM
  #762
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Originally Posted by Clowe Me View Post
Apparently it's true, though.
Seattle has no financial issues with their group. With Hansen/balmer/nordstroms brothers there is no fianical issue. The whole "issue" is being spinned to try to make it like its a big deal its not.

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04-08-2013, 10:46 PM
  #763
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Originally Posted by gstommylee View Post
Seattle has no financial issues with their group. With Hansen/balmer/nordstroms brothers there is no fianical issue. The whole "issue" is being spinned to try to make it like its a big deal its not.
Kind of like the articles in your area about the Kings not having an arena deal and that this was already a formality. Both sides are spinning and spinning hard.

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04-08-2013, 10:49 PM
  #764
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Originally Posted by Clowe Me View Post
Kind of like the articles in your area about the Kings not having an arena deal and that this was already a formality. Both sides are spinning and spinning hard.
Our side wasn't doing the spinning.

Cause it was true there wasn't an arena deal at the time and there wasn't one until Sacramento approved a non binding deal last march which still has a lot of work before its completely finished.

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04-08-2013, 10:56 PM
  #765
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Our side wasn't doing the spinning.

Cause it was true there wasn't an arena deal at the time and there wasn't one until Sacramento approved a non binding deal last march which still has a lot of work before its completely finished.
If you don't see any spinning, I don't what to say. You guys have celebrated every feat like it was a formality. You guys were excited when Hansen won the bid for the 7%, even when it was clear a minority owner would match it to get 36+ million in team wealth for 15.1. You guys counted the Sacramento side out when the original offer was too low and said they didn't have enough money in their ownership group. Both have since been proven incorrect. There is just as much homecooking up there as there is down here.

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04-08-2013, 11:00 PM
  #766
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Originally Posted by Clowe Me View Post
If you don't see any spinning, I don't what to say. You guys have celebrated every feat like it was a formality. You guys were excited when Hansen won the bid for the 7%, even when it was clear a minority owner would match it to get 36+ million in team wealth for 15.1. You guys counted the Sacramento side out when the original offer was too low and said they didn't have enough money in their ownership group. Both have since been proven incorrect. There is just as much homecooking up there as there is down here.
Btw the owner that is going to suppose to match it has until Friday to match it. so far he has not filed that he is going to match the 7%. Action = better then words. Even if he matches Hansen can easily pay the guy 20m for that 8%. Eventually all 100% of the team will be under hansen's group control assuming NBA approves it.

Umm btw they still haven't matched Hansen 341m offer. With burkle out i find that very unlikely that there will not be a match of 525m. No way i see the NBA rejecting the PSA to go with a offer that is lower.

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04-08-2013, 11:03 PM
  #767
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Btw the owner that is going to suppose to match it has until Friday to match it. so far he has not filed that he is going to match the 7%. Action = better then words.
They never negotiated originally or let them have first right. They are remaining quiet because of the process, but once(if) the Seattle deal gets approved, you'll see the lawsuits against the Maloof's and the league.

Quote:
Umm btw they still haven't matched Hansen 341m offer. With burkle out i find that very unlikely that there will not be a match of 525m. No way i see the NBA rejecting the PSA to go with a offer that is much lower.
Where is your proof? Do you have info on both offers and how they match up side by side?

BTW, Burkle is still involved with the downtown project. He was NEVER going to be an owner, he was going to own part of the new arena. That part is now being taken over by Ranadive and Jacobs.

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04-08-2013, 11:07 PM
  #768
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Originally Posted by Clowe Me View Post
They never negotiated originally or let them have first right. They are remaining quiet because of the process, but once(if) the Seattle deal gets approved, you'll see the lawsuits against the Maloof's and the league.

Where is your proof? Do you have info on both offers and how they match up side by side?

BTW, Burkle is still involved with the downtown project. He was NEVER going to be an owner, he was going to own part of the new arena. That part is now being taken over by Ranadive and Jacobs.
Sacramento's group was being asked last Wednesday at least twice if they matched they did not answer the question.

Btw if they were going to ROFR they would have done it by now. They would have to come up with 341m with out it being debt and with out anyone else helping Good luck with that lawsuit cause it not going to help them. NBA has leverage there and will do anything to make it go away. If NBA approve sale to Hansen's group the kings are leaving Sacramento.

The only issue remaining that the BOG are still getting answers from what was mention last Wednesday is the the arena.

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04-08-2013, 11:10 PM
  #769
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Originally Posted by gstommylee View Post
Sacramento's group was being asked last Wednesday at least twice if they matched they did not answer the question.
Which doesn't mean anything. Maybe they don't want to disclose their figures to those who don't need to know right now. Assuming the deal isn't as good as Hansen's is just that, assuming.

Quote:
Btw if they were going to ROFR they would have done it by now. They would have to come up with 341m with out it being debt and with out anyone else helping Good luck with that lawsuit cause it not going to help them. NBA has leverage there and will do anything to make it go away. If NBA approve sale to Hansen's group the kings are leaving Sacramento.
We'll see about all of that...

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04-08-2013, 11:20 PM
  #770
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Originally Posted by Clowe Me View Post
Which doesn't mean anything. Maybe they don't want to disclose their figures to those who don't need to know right now. Assuming the deal isn't as good as Hansen's is just that, assuming.

We'll see about all of that...
It means a lot if they actually matched or made a better offer they would have stated it when asked.

NBA hates litigation and will defend it. Btw even at slim chance that the minority owners would win in court regards to ROFR the NBA still has to approve the sale to the minority owner and NBA can easily reject it. It'll be settled most likely where Sacramento gets a new team back under certain conditions. The NBA promises seattle a team in the future thats why both the lawsuits against Bennett were dropped/settled.

Heck this could be the old Cleveland browns story. Old team moves to Baltimore. city is guaranteed expansion. In this case it would be with conditions that the group gets its finances figured out and get the arena finalized and ready to go.

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04-08-2013, 11:25 PM
  #771
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Originally Posted by gstommylee View Post
It means a lot if they actually matched or made a better offer they would have stated it when asked.
Or, perhaps they didn't want to show their hand publically. The nba has their offer and will relay that information to the owners, along with their "suggestion".


Quote:
NBA hates litigation and will defend it. Btw even at slim chance that the minority owners would win in court regards to ROFR the NBA still has to approve the sale to the minority owner and NBA can easily reject it. It'll be settled most likely where Sacramento gets a new team back under certain conditions. The NBA promises seattle a team in the future thats why both the lawsuits against Bennett were dropped/settled.

Heck this could be the old Cleveland browns story. Old team moves to Baltimore. city is guaranteed expansion. In this case it would be with conditions that the group gets its finances figured out and get the arena finalized and ready to go.
I'm not going to argue every thought or hypothetical, I'll just say we'll see how things play out in 10-11 days.

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04-08-2013, 11:31 PM
  #772
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I'm not going to argue every thought or hypothetical, I'll just say we'll see how things play out in 10-11 days.
Agreed. And honestly the only way I can see NBA say no to seattle if their offer was terrible and Sacramento's offer is great. Offer being finances $$$ and arena plan with out any holes (major issues). Unfortunately i just don't see that scenario actually happening.

If Sacramento started the arena process a whole lot sooner it would be more solid and possible match seattle in terms of arena deal.

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04-08-2013, 11:58 PM
  #773
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Originally Posted by Clowe Me View Post
If you don't see any spinning, I don't what to say. You guys have celebrated every feat like it was a formality. You guys were excited when Hansen won the bid for the 7%, even when it was clear a minority owner would match it to get 36+ million in team wealth for 15.1. You guys counted the Sacramento side out when the original offer was too low and said they didn't have enough money in their ownership group. Both have since been proven incorrect. There is just as much homecooking up there as there is down here.
Sacramento is broke, they have no concrete arena deal and Seattle is far ahead in every aspect in the deal than Sacramento is

You can't dispute those facts

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04-09-2013, 12:29 AM
  #774
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Sacramento is broke, they have no concrete arena deal and Seattle is far ahead in every aspect in the deal than Sacramento is

You can't dispute those facts
Yea what they approved this year was nothing more than what they approved last year non bidding with stuff still need to be figured out imo. Big one being will local county approve it.

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04-09-2013, 01:28 AM
  #775
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NHL in Seattle would be so, so, so right.

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