Chris Daniels @ChrisDaniels5 7m
One more nugget: Source says Hansen's #SeattleArena land purchase will be closer to $80 MILLION, after it exercises option on another piece.
And yet hansen acquires another piece of property or plans to.
Yeah, Seattle is all talk....[/flashback to previous inane comment]
That's $110,000,000 minimum invested so far, and that only includes land purchases and non-refundable down payments. Think of the other millions spent so far in arena design, lawyers, & free drinks at FX McRory's for fans.
Not sure what happens if Hansen is approved of 7% but rejects the 65%.
From Sam Amick:
"The key to this component of the deal, and so many others in this saga, is that this potential transaction will still require the approval of the NBA. As a result, the Sacramento side -- which is being headed by mayor and former NBA point guard Kevin Johnson -- is making this strategic choice based on the common sense assumption that the league would not approve the minority stake if they reward Sacramento with the majority share."
It seems the Maloofs, intentional or not, may have exposed the weakness in the Sacramento Group. They can't or are not willing to match the Hansen "agreed upon" terms. It would seem with all the 'big' money people they have attached to their group they should be able to match pretty easily IMO. I think the problem comes down to they are not willing to or reluctant to match, in that the team will be worth the selling price in Seattle but not so much in Sacramento (re: TV revenue). Just a guess (hypothetical).
Stern has got be worst sports commissioner in history.
Pretty much. Riding Jordan, Bird, Magic, Lebron, etc.'s coattails all of these years. The Charlotte/NOLA/OKC/Seattle/Sacramento situation has been mismanaged from the start and it keeps on snowballing along. What city gets hit by the Sternvalanche next?