Marc Stein @ESPNSteinLine Sources say today's NBA committee vote against moving Kings out of Sacramento was unanimous Adrian Wojnarowski @WojYahooNBA Combined relocation and finance committees will pass on recommendation to overall ownership body and they will honor vote. The Kings stay.
In theory couldn't Hansen and the SEA group still buy the Kings yet keep them in SAC for the foreseeable future? Their NBA bid was still the best one for the Maloofs.
They could and they could keep applyng for relocation every year Sent from my SPH-L710 using Tapatalk 2
Hmmm interesting response. I dont have a problem with any of it nor agree or disagree. Simply an observation. Carry on.
As I understand it, if the bond defaults the City can collect the default against Hansen and maybe others personally. Also, if there are cost overruns, that is Hansen's problem too. http://www.seattlepi.com/sports/article/Chris-Hansen-personally-guarantees-Sodo-arena-3856793.php Also, there are several protections in place. http://www.sonicsarena.com/info/sonics-arena-faq My point is that there has to be an investor who wants to make the partnership with the City and make the personal guarantee for there to be a comparable situation. They will usually only do this if there is money to be made. I don't think there is any money to be made in the public oriented goals you are talking about, but I could be wrong. I am not a billionaire either, so I have never really looked into it. Well, I mean that the odds that these portions of the city's credit were going to be used are extremely minimal. By the city extending this credit, they are not losing out on any realistic opportunities that I can conceive of. This credit is more akin to rainy day credit that is never used. They are still leaving additional rainy day credit so even if something extraordinary happens, there should not be any major problems for the City. So there is not any realistic lost opportunity for the city to have used their credit for some other worthwhile goal. It was never going to be used. I think I heard on the radio some months ago that there is $900 million in available credit, and the City is using $200 million for this deal. I could be wrong, but that is what I recall.
Most say that there is no hope of expansion for at least 5 years. So another team would have to apply for relocation if Hansen passes on this deal to buy the Kings. Will another team bother to try to relocate, in the near future, to SEA after this vote was so unanimous? I don't think so.
But Sacramento says they are going to build a new arena. If the Kings don't relocate this year, there is no way they relocate after building a new arena. Maybe he will buy the team and see if Sacramento makes good on their arena deal.
Besides bowing out that is the only other option I see for them. The SAC arena deal is not perfect according to a lot of reports. So maybe they gamble that it will fall through with the city.
So what happens if new final proposal is seen as a joke and they reject that as well? Now that the Seattle group is essentially out of it (unless he wants to look like Bennett) they don't have any real incentive to solidify/increase their offer. Could this mean 1 more year of shitty Maloof ownership?
And what happens to the 30 MIL nonrefundable deposit that SEA paid to the Maloofs? I think someone (maybe even the NBA themselves) should have to pay Hansen back for that. And yes I know what nonrefundable means however this seems almost like collusion to undermine SEAs bid.
You are not going to be able to make both cities happy. Why don't they just disband the Kings? Problem solved.
Wow, this is going to get pretty interesting. Wonder if Hansen will stay level headed or get PO'd and blow things up. He's got some interesting decisions to make...
Buy the Kings, trade everyone for table scraps, and tank until nobody wants to watch the team anymore. It worked in Charlotte. It worked in Seattle. It will work in Sacramento.
