Yeah, I was reading about this earlier today, which is why I was saying Stern wasn't necessarily forcing the Maloofs to take the lesser of the two deals. The question I have though is how does this concession help or hurt the amount of cash the Maloofs walk away with? I don't think the Maloofs care one way or another what the final sales price is, as long as they walk away with as much as possible from this. As you mentioned earlier, if the Maloofs were getting screwed, they'd be wise to figure something out with Hansen. No way does Stern want the Maloofs to continue to own the Kings.
So the Kings are giving up $30 million a season from the TV deal so they can keep the team in Sac. That sounds shady! Sent from HCPs Baller-Ass iPhone 5...FAMS!
Agreed, but then again..... I'd argue Sacto didn't learn from the Seattle-OKC shenanigans. They waited far too long to engage in this process.
If true, then all the other current NBA owners are loving this! No wonder they seem to prefer the SAC deal, they make out like bandits getting a bigger share of the TV contract.
Pretty much agree with everything you said. The part that I don't think works is waiting for a purchase agreement to be signed to start the arena process and find local ownership group. It will put a chill on future offers to purchase franchises and it does not give time to the locals (Sac in this case) to put together a solid arena package. Despite what Sac and the NBA say, there are still major unresolved issues and they're both crossing their fingers that they'll be able to find solutions.
Yeah, if that's going to the owners and/or players.... that's messed up. The only deal that makes sense should be the deal that nets the Maloofs the most assets. They are the owners. If everyone can walk away with a slice of the pie, all the better, and sacrificing the revenue-sharing is cool (well, in this scenario, Hansen would be left out in the cold). But if the Maloofs aren't walking away on their own accord with the offer that puts the most in their pockets, that ain't right.
Also though remember that the Maloofs were being pretty cagey about a year ago, reneging on certain conditions they wanted from Sacramento for a new arena. So, in Sacramento's defense, the Maloofs did not seem to be dealing in good faith with them for a period of this delay, or at least the Maloof's change in position explains their delay.
I'm glad no one stole the Kings from their fans. Most Seattlites don't want a team till Stern goes away, if then. Hansen hasn't put much money into this, so he won't suffer from waiting a few years. Meanwhile he can follow the Blazers.
I said it once, I'll say it again: Agreed. But does the jilted stripper turn down the paying customer who originally wanted, and received, the lap dance from a different stripper? No, she shakes and grinds like never before and pretends like she was first choice all the way. I wouldn't be surprised if there's more interest in the NBA in Seattle than in Sacto.
Hansen paid a $30M deposit and paid something like $15M for 7% of the Kings. If he gets that all back, then you're arguably right. Otherwise, not so much. If you want to go a step further, he's also put something like $60M into land purchases for the arena, which he made expecting that he would receive a fair process in purchasing a franchise.
If the NBA truly cares about fans in the current NBA cities, then it needs to add that consideration into the purchase/sale process. Require that local buyers be solicited first or simultaneously with engagement of out-of-area buyers. Create a relocation process that involves giving notice to the current city and then gives the city meaningful opportunity to meet the requirements of the owner or the NBA. Fans in both cities should have a team...I don't know there's meaningful difference between them. Sac has politicians that give a rip (compared to Seattle area politicians when the Sonics were taken), but that's the only difference I can see. Even that is difficult to know. In alternate reality world, I wonder how relations with KJ would've gone if Hansen successfully purchased the Kings and then tanked the team, relations with politicians, etc. in Clay Bennett style.
Aren't two of the Nordstrom brothers apart of this also? I thought I heard that. I thought I heard Antonio Harvey going on about it on Courtside. He was talking about how the Nordstrom brothers were involved but I didn't catch it all.
He may get the $30M back. How much of the $60M is bought land, and how much is options he took on buying land? Oh well, he can always build strip joints on it.
Kevin Johnson says Seattle should take the high road. http://king5.mlnwap.com/article.html#!/10329/b30aa47c74b7d6314db03e43cc09f528
One of the Seattle sports radio guys said that a reliable contact of his was solicited a couple days ago to be a minority member of the Ranadive ownership group. Supposedly that group was solid and didn't need additional money. Hard to know what to make of that, but I'd say it's no show stopper, but another sign that Sac's group/offer is not as solid as Stern and crew would have you believe.
It's hard to know what to make of that...is it just KJ being KJ and spouting off or is he worried that Hansen might be able to get the purchase approved or, for that matter, the relocation approved?
He wasn't clear at all about who was solicited or where they are from. I'm pretty sure it wasn't anyone in the Hansen group. I'd expect the solicitation would've been under a nondisclosure agreement and really, the person shouldn't have said anything. The point the radio guy raised is that it's strange the Ranadive group is still trying to get more owners in the group. They claimed they had plenty of money with the group that was announced. So, in the radio guy's estimation, they're either wanting to put less of their own money into the team or they don't have liquid cash to close the transaction right away.
