***Official Seattle NBA NHL teams placeholder*** (1 Viewer)

[Aaron Rudnicki]

looks pretty sweet

 

[proninja]

If Sacramento really presented an offer 75M less, then they just wasted their time AND gave the nba an out at the same time. Genius.

The team owes the city $75 million. The mastrov - Burkle offer includes the city offering to forgive that debt if the team sold to that group. So, on the balance sheet, that counts toward the franchise valuation. Reports are the total offer is competitive but slightly lower than the Seattle bid.

And by "competitive" you mean "not close enough for the NBA to even talk about considering" then you are absolutely right. New proposal here - looks like the city council has 72 hours to approve it. I don't have the patience to read it, but @fieldofschemes is less than impressed. I'm sorry Sacramento.

 

[ditka311]

looks pretty sweet

That looks awesome.

 

[thecatch]

If Sacramento really presented an offer 75M less, then they just wasted their time AND gave the nba an out at the same time. Genius.

The team owes the city $75 million. The mastrov - Burkle offer includes the city offering to forgive that debt if the team sold to that group. So, on the balance sheet, that counts toward the franchise valuation. Reports are the total offer is competitive but slightly lower than the Seattle bid.

And by "competitive" you mean "not close enough for the NBA to even talk about considering" then you are absolutely right. New proposal here - looks like the city council has 72 hours to approve it. I don't have the patience to read it, but @fieldofschemes is less than impressed. I'm sorry Sacramento.

those were the media reports when I made the post. And the Kevin Johnson just got yet another $450 million arena deal done and added another billionaire to the purchasing coalition in the last week or so, I don't see how that can possibly be construed as a negative. (Not that I'm predicting success for Sacramento by any means, as I've stated ad nauseum)

 

[Dexter]

looks pretty sweet

They forgot to put in a a bench, penalty box an that stupid spot for the ref.

 

[NewlyRetired]

Sacramento just added another major player to their investment team.

http://espn.go.com/nba/story/_/id/9098853/qualcomm-ceo-paul-jacobs-joins-sacramento-bid-keep-kings

 

[Wooderson]

Come on Sac lets do this.

 

[proninja]

It's easy for lots of people to "get involved" when they know they'll get great publicity and they won't have to do anything about it. The latest arena "deal" didn't actually approve financing.

Don't get your hopes up. The team is still sold to people from another town who have applied for relocation.

 

[Wooderson]

Sacramento city council approves arena term sheet. Vote 7-2

playingtowin

 

[proninja]

Sacramento city council approves arena term sheet. Vote 7-2 playingtowin

It's non binding and doesn't approve the financing. The NBA knows this, and they know the history of failed attempts in Sacramanto after they've been announced. Also, you're relying on the organization that moved the Sonics from Seattle where they had 41 years (and weren't taken from another city), the Grizzlies from Vancouver, and the Hornets from Charlotte. Don't get your hopes up

 

[Wooderson]

Maloofs backed out last time. I think Sac has everything they need. Now will the NBA keep the team in Sac? Who knows. The city desperately needs it to improve downtown.

Sac shouldn't lose it's team cause of its crappy owners. Give Seattle an expansion team. The deserve a team.

herewestay

 

[proninja]

Maloofs backed out last time. I think Sac has everything they need. Now will the NBA keep the team in Sac? Who knows. The city desperately needs it to improve downtown. Sac shouldn't lose it's team cause if its crappy owners. Give Seattle an expansion team. The deserve a team. herewestay

Seattle shouldn't have lost its team because of crappy owners either. Unfortunately, the fans mean very little in today's NBA. The one thing that I do think Sacramento has going for them is that Seattle to OKC already happened, and it was a black eye Stern says he regrets.

 

[Wooderson]

Maloofs backed out last time. I think Sac has everything they need. Now will the NBA keep the team in Sac? Who knows. The city desperately needs it to improve downtown. Sac shouldn't lose it's team cause if its crappy owners. Give Seattle an expansion team. The deserve a team. herewestay

Seattle shouldn't have lost its team because of crappy owners either. Unfortunately, the fans mean very little in today's NBA. The one thing that I do think Sacramento has going for them is that Seattle to OKC already happened, and it was a black eye Stern says he regrets.

True. I also think Stern wouldn't mind sticking it to the Maloofs. I think keeping the team in Sac would kind of do that. Those kids wasted daddy's money real quick.

 

[moneyman]

Sacramento city council approves arena term sheet. Vote 7-2 playingtowin

It's non binding and doesn't approve the financing. The NBA knows this, and they know the history of failed attempts in Sacramanto after they've been announced. Also, you're relying on the organization that moved the Sonics from Seattle where they had 41 years (and weren't taken from another city), the Grizzlies from Vancouver, and the Hornets from Charlotte. Don't get your hopes up

The city council vote was for 258M in public funding. It's non-binding only because they are waiting for the NBA vote regarding the sale. If the Kings are not in Sac of course the investors are not interested and public money is not there. That's not surprising nor anything new.A Sac ownership group is in place with more than enough wealth, arena plan in place, support from mayor and city council, fan support, and 258m in public funding. The only reason Seattle is even in this conversation is because the Maloofs cut a backroom deal with a different city while denying they would sell. If Seattle gets the Kings this will be 10x the screwjob that Seattle experienced. Btw, Stern just last month still lays the blame for what happened to Seattle at the feet of your public officials at the time, not the fans or city. This is support Sac has in place.http://www.youtube.com/watch?feature=player_embedded&v=RapWrFkDpMU

 

[proninja]

Sacramento city council approves arena term sheet. Vote 7-2

playingtowin

It's non binding and doesn't approve the financing. The NBA knows this, and they know the history of failed attempts in Sacramanto after they've been announced. Also, you're relying on the organization that moved the Sonics from Seattle where they had 41 years (and weren't taken from another city), the Grizzlies from Vancouver, and the Hornets from Charlotte. Don't get your hopes up

The city council vote was for 258M in public funding. It's non-binding only because they are waiting for the NBA vote regarding the sale. If the Kings are not in Sac of course the investors are not interested and public money is not there. That's not surprising nor anything new.A Sac ownership group is in place with more than enough wealth, arena plan in place, support from mayor and city council, fan support, and 258m in public funding. The only reason Seattle is even in this conversation is because the Maloofs cut a backroom deal with a different city while denying they would sell. If Seattle gets the Kings this will be 10x the screwjob that Seattle experienced.

Btw, Stern just last month still lays the blame for what happened to Seattle at the feet of your public officials at the time, not the fans or city. This is support Sac has in place.

I guess we'll find out. Sacramento has done a great job scrambling at the last minute. I figured moving to Seattle was a foregone conclusion a month ago, now I'd put it at a coin flip. This is a good read if you'd like to learn more about the non-binding term sheet everyone is calling a "financing plan."

 

[moneyman]

Sacramento city council approves arena term sheet. Vote 7-2

playingtowin

It's non binding and doesn't approve the financing. The NBA knows this, and they know the history of failed attempts in Sacramanto after they've been announced. Also, you're relying on the organization that moved the Sonics from Seattle where they had 41 years (and weren't taken from another city), the Grizzlies from Vancouver, and the Hornets from Charlotte. Don't get your hopes up

The city council vote was for 258M in public funding. It's non-binding only because they are waiting for the NBA vote regarding the sale. If the Kings are not in Sac of course the investors are not interested and public money is not there. That's not surprising nor anything new.A Sac ownership group is in place with more than enough wealth, arena plan in place, support from mayor and city council, fan support, and 258m in public funding. The only reason Seattle is even in this conversation is because the Maloofs cut a backroom deal with a different city while denying they would sell. If Seattle gets the Kings this will be 10x the screwjob that Seattle experienced.

Btw, Stern just last month still lays the blame for what happened to Seattle at the feet of your public officials at the time, not the fans or city. This is support Sac has in place.

There are opponents of the 258M public subsidy and they question the numbers. I'm not sure why that matters though. The people that count just voted it through last night.IMO this is going to come down to the bid amount. If the Seattle deal remains significantly higher than the Sac bid by the time the NBA votes it will likely go to Seattle. The other NBA owners would love to see their franchise valuations go up and they are the ones voting. If the bids are close I don't see how they approve this move.

btw, I haven't lived in Sac for 20 years and have lived in Seattle for a decade since that time. I know both places will. Sac is a one sport town and I'd hate to see it lose out here. It'll be devastating for the city. Seattle can get the next team when there are good reasons for a franchise to move (no community or political support).

 

[Wooderson]

Well said the only reason this seems like last minute is because the Maloofs wouldn't sell to Sac owners. They have asked for years but were told the team is not for sale.

Then find out oh you are selling. To Seattle !!

For a city that has been good to the Maloifs for years they turned their backs on the city very fast.

 

[Fennis]

I am rooting for Sac to keep their team, personally I have no problem if the deal falls apart. However, I don't see it happening. Proninja said it is a a coin flip. I disagree, I think its a certainty that the deal goes through.

Worst case the Seattle group would just up their offer. Plus the other owners are going to get a relo fee that they won't get if the team stays. And in the end, no matter what happens the Seattle offer will be for more money.

 

[proninja]

Looks like Hansen has bought 7 percent of the team, to go with the 65 percent he is already under contract to purchase

 

[Wooderson]

I am rooting for Sac to keep their team, personally I have no problem if the deal falls apart. However, I don't see it happening. Proninja said it is a a coin flip. I disagree, I think its a certainty that the deal goes through.Worst case the Seattle group would just up their offer. Plus the other owners are going to get a relo fee that they won't get if the team stays. And in the end, no matter what happens the Seattle offer will be for more money.

Yes the Maloofs would get a relic fee if the leave Sac but they would also have to pay back the debt to the city if they leave. I hate to think both cities are driving up the price. Only benefits the Maloofs.

 

[Wooderson]

Looks like Hansen has bought 7 percent of the team, to go with the 65 percent he is already under contract to purchase

That can't be good for Sac.

 

[Fennis]

I am rooting for Sac to keep their team, personally I have no problem if the deal falls apart. However, I don't see it happening. Proninja said it is a a coin flip. I disagree, I think its a certainty that the deal goes through.

Worst case the Seattle group would just up their offer. Plus the other owners are going to get a relo fee that they won't get if the team stays. And in the end, no matter what happens the Seattle offer will be for more money.

Yes the Maloofs would get a relic fee if the leave Sac but they would also have to pay back the debt to the city if they leave. I hate to think both cities are driving up the price. Only benefits the Maloofs.

and the other NBA owners

 

[jonessed]

Looks like Hansen has bought 7 percent of the team, to go with the 65 percent he is already under contract to purchase

That can't be good for Sac.

He's buying it on the cheap if the valuation goes up on any sale. Outside of that I don't see how it really matters for the selection process. The NBA owners are going to vote based on what's in their best interests and a 7% minority ownership of one side or the other is irrelevant.

 

[Insein]

Kings have moved how many times? Weren't they the Royals at some point? Does Sac town even draw since the Webber era has ended?

I think it's time to move on to another town. Seattle has the draw of the Northwest. They deserve an NBA team. I also agree that they would be first in line to get the next relocated NHL team. Close to Canada. Good proximity to those western teams as opposed to Phoenix. Makes sense.

 

[thecatch]

Looks like Hansen has bought 7 percent of the team, to go with the 65 percent he is already under contract to purchase

That can't be good for Sac.

He's buying it on the cheap if the valuation goes up on any sale. Outside of that I don't see how it really matters for the selection process. The NBA owners are going to vote based on what's in their best interests and a 7% minority ownership of one side or the other is irrelevant.

Sounds like the Sacramento group intentionally let that one go without a fight. The only benefit to having it is that minority owners have the right to match offers for the controlling interest. Might be an insurance policy by Hansen to avoid getting embroiled in litigation in the event a Sacramento group got the minority interest but the nba approved his bid for the majority.

 

[proninja]

@showardcooper Hearing more and more the Maloofs could keep the Kingsrather than automatically sell to SAC group if Board of Govs declines Seattlebid.

What exactly do the Maloofs have against the city of Sacramento?

 

[Britney Spears]

@showardcooper Hearing more and more the Maloofs could keep the Kingsrather than automatically sell to SAC group if Board of Govs declines Seattlebid.

What exactly do the Maloofs have against the city of Sacramento?

Maybe they need the relocation $$$?

 

[proninja]

@showardcooper Hearing more and more the Maloofs could keep the Kingsrather than automatically sell to SAC group if Board of Govs declines Seattlebid.

What exactly do the Maloofs have against the city of Sacramento?

Maybe they need the relocation $$$?

The Maloofs wouldn't get any of the relo money, would they?

 

[proninja]

http://www.sonicsarena.com/news/fellow-sonics-fans

44k requests for season tickets, 268 for suites, almost a thousand businesses interested in sponsorship. That's pretty swell. Tomorrow both Seattle and Sacramento give their presentations to the BOG.

The NBA has a decision to make. Either it selects the market that is better in every single way - more money, better arena plan, fewer lawsuits to worry about, better ownership group, bigger fanbase, longer history with the NBA, more TV viewers, more NBA championships - or it selects the market that the team is in right now. I'm curious to see which way this goes.

 

[Fennis]

http://www.sonicsarena.com/news/fellow-sonics-fans

44k requests for season tickets, 268 for suites, almost a thousand businesses interested in sponsorship. That's pretty swell. Tomorrow both Seattle and Sacramento give their presentations to the BOG.

The NBA has a decision to make. Either it selects the market that is better in every single way - more money, better arena plan, fewer lawsuits to worry about, better ownership group, bigger fanbase, longer history with the NBA, more TV viewers, more NBA championships - or it selects the market that the team is in right now. I'm curious to see which way this goes.

Seattle, this is one of the biggest days of my life and a seminal moment for our City. I know I am carrying the hopes and dreams of so many of you with me and I again just want to thank all of you for the privilege of having the opportunity to carry the torch for our Town. It is hands down one of the most meaningful things I have ever done in my life.

You would be hard pressed to find as classy and dedicated a sports owner as this guy

 

[proninja]

http://www.sonicsarena.com/news/fellow-sonics-fans

44k requests for season tickets, 268 for suites, almost a thousand businesses interested in sponsorship. That's pretty swell. Tomorrow both Seattle and Sacramento give their presentations to the BOG.

The NBA has a decision to make. Either it selects the market that is better in every single way - more money, better arena plan, fewer lawsuits to worry about, better ownership group, bigger fanbase, longer history with the NBA, more TV viewers, more NBA championships - or it selects the market that the team is in right now. I'm curious to see which way this goes.

>Seattle, this is one of the biggest days of my life and a seminal moment for our City. I know I am carrying the hopes and dreams of so many of you with me and I again just want to thank all of you for the privilege of having the opportunity to carry the torch for our Town. It is hands down one of the most meaningful things I have ever done in my life.

You would be hard pressed to find as classy and dedicated a sports owner as this guy

Seriously. He's been patient, sacrificed a lot, and dogged behind the scenes. Great dude.

 

[NewlyRetired]

NEW YORK -- There was a full-scale boardroom battle for the future of the Sacramento Kings in a Manhattan hotel on Wednesday involving dueling billionaires, politics and real estate.It included a push from the Kings' current ownership to move the team to Seattle and a pitch by a Sacramento group led by mayor Kevin Johnson that he believes is compelling enough to thwart the move.A month after saying the Sacramento group needed to improve its offer, NBA commissioner David Stern said the monetary offers from the groups "is not one of the issues."But the league might have to delay its planned owner vote on a matter that was scheduled for April 19 so it can sort through construction schedules, lawsuits and other issues that will truly separate the bids.With the offers now apparently so tight, the city that can promise to get a new arena open fastest might end up with the edge."We've never had a situation like this," Stern said. "There's a lot at stake here."Franchise relocation has been a relatively constant part of NBA business over the decades. The Kings franchise itself has called five different cities home since starting in 1948. But this situation is unique because the two cities fighting for the Kings now both have assembled compelling bids that include new, deep-pocketed ownership and competing arena deals with support of taxpayers and local governments.In a league that has made generating cash and getting publicly funded new buildings a long-standing priority, it appears to be a win-win situation. But there's going to be a loser and a fan base without a team. Stern reiterated Wednesday there are no plans for expansion at this time.The two sides made their pitches to a small group of owners and team representatives that make up the finance and relocation committees. That group will make a recommendation to the league's full Board of Governors on April 18 and 19. It was hoped this would be settled at that meeting, but now it's not clear when a final vote will be taken.The Seattle group is led by investor Chris Hansen and Microsoft billionaire Steve Ballmer. They started this process rolling in January when they signed a deal to buy 65 percent of the Kings from the financially troubled Maloof family for $340 million and immediately put in a bid to relocate the team.They have an agreement with city and county officials to build a $490 million arena in downtown Seattle to be open in 2017. The team would play in KeyArena for the next two-plus seasons until the new building was done. The Hansen group is putting in $290 million of its own money, not including $50 million already spent to buy real estate near the Seattle Mariners' Safeco Field.Hansen presented a detailed plan to owners Wednesday and Ballmer, who has become known for enthusiastic speeches to Microsoft employees, closed by making a high-energy pitch. In a move that immediately angered Kings fans, George Maloof spoke on behalf of the Hansen group in an effort to get their deal accepted."We're optimistic," Hansen said. "The ownership group is very enthusiastic, and we appreciate the NBA has got a tough decision to make, and we're hopeful for an outcome in our favor."Despite what is believed to be a compelling offer from Sacramento, the Maloofs clearly would rather see the team sold to Hansen and moved to Seattle than kept where it has been since 1984.The Sacramento group has been put together over the past two months in an aggressive campaign led by Johnson. It is fronted by software magnate Vivek Ranadive with support from supermarket king Ron Burkle, 24-Hour Fitness founder Mark Mastrov and the family that controls communication company Qualcomm.Ranadive, who is a part-owner of the Golden State Warriors, stepped up to take the lead in the group after Stern publicly said Sacramento's first bid wasn't strong enough. A major part of Randive's pitch is his link to his native India, a market the NBA is trying to develop. Stern has planned a trip to India next week to push the NBA brand there.Last week, lawmakers in Sacramento passed a term sheet promising $258 million of a $448 million arena project set for downtown. They are hoping to get the building open by 2015, though all timelines are loose and adding to the complex nature of the decision."We left it all on the floor," Johnson said. "We feel very confident with our story, very confident, and ultimately it's in the owners' hands to make a final decision."NBA rules require 75 percent of the league's 30 teams to approve a sale and a simple majority of the board to agree to move the team. It is rare for teams to block sales and moves. The last time a sale was blocked was 1994 when a group attempted to buy the Minnesota Timberwolves and move them to New Orleans.Two years ago, Johnson successfully lobbied the owners to block a Kings move to Anaheim. But the Seattle deal is a much bigger threat because it includes a new arena and a signed contract that values the Kings at $525 million, which would be a record for a team sale.In short, this is going to be a tough call for the NBA's owners, who are hoping to get more information from both sides over the next few weeks. Right now, it isn't even clear which city is in the lead."We heard a day full of extraordinary presentations of a complex real estate, arena, construction time lines, potential obstacles and team funding in two really great cities," Stern said. "It was a long day without any breaks, and both sides made, in my view, very, very strong presentations."

 

[Drifter]

Playing in Key Arena for 2 years will be interesting. That joint is a dump

 

[proninja]

Dear Sacramento, and NBA: Seattle will be the high bidder

http://www.sonicsarena.com/news/an-update

 

[Wooderson]

Why in the hell would they raise the price if they have a binding agreement. Don't act like your just putting some extra money in for the hell of it. They are doing so cause Sac is a threat.

All of this just helps the Maloofs. That part makes me sick.

 

[Fennis]

other stuff:

The NBA has said Hansen will get his $30 million back if they lose the bid.

The deadline on Friday for a written has been extended so Sac can get their bid in.

The deadline for the NBA teams to vote wont happen if there is another bid.

David Stern is still a ####.

 

[NewlyRetired]

other stuff: The NBA has said Hansen will get his $30 million back if they lose the bid. .

What $30 million is this? Is it some sort of previous non refundable down payment or something!? I guess I don't see why Hansen would ever be out money if his group loses the bid.

 

[Fennis]

other stuff: The NBA has said Hansen will get his $30 million back if they lose the bid..

What $30 million is this? Is it some sort of previous non refundable down payment or something!? I guess I don't see why Hansen would ever be out money if his group loses the bid.

Yes. The NBA wants the Sac group, if they win, to pay it back. They want to get Hansen engaged.

 

[Abraham]

Simmons and fords were saying on a podcast that what they are hearing from league people is that there is hesitation to allow the move if the Sacramento bid is solid. They also seemed to think if Sacramento ends up keeping the team than someone (bucks, pacers) will end up in Seattle soon enough.

 

[thecatch]

Simmons and fords were saying on a podcast that what they are hearing from league people is that there is hesitation to allow the move if the Sacramento bid is solid. They also seemed to think if Sacramento ends up keeping the team than someone (bucks, pacers) will end up in Seattle soon enough.

I had no idea Indiana was a trouble spot until I heard that podcast. Great new-ish arena in a basketball state.

 

[Abraham]

Surprised me as well.

 

[proninja]

At this point all the rumblings are that Stern is doing everything he can to keep the Kings in Sacramento.

Hey, David, thanks for the similar help a few years ago.

 

[wazoo11]

Adrian Wojnarowski ‏@WojYahooNBA 28m

The NBA committees have voted no to relocation of Kings to Seattle, sources tell Y! Sports.

 

[wazoo11]

Ouch for Seattle. The last time the league blocked a move like that was about 20 years ago when the Timberwolves were almost sold to a New Orleans group, but that one got voted down because the prospective new owners didn't actually have the money and financing they said they had. This Seattle group has the money and the bigger offer.

The NBA does have the right to choose who they want to do business with, but Seattle might also sue their way into the league like they did with MLB to get the Mariners into existence.

Why is Clay Bennett the leader of this committee?

 

[jonessed]

Adrian Wojnarowski ‏@WojYahooNBA 28m

The NBA committees have voted no to relocation of Kings to Seattle, sources tell Y! Sports.

It's being reported as a unanimous decision. You have to give KJ a lot of credit. Putting up a competing deal, a vote on a new arena, and turning momentum around in such a short period of time is amazing.

 

[moneyman]

Ouch for Seattle. The last time the league blocked a move like that was about 20 years ago when the Timberwolves were almost sold to a New Orleans group, but that one got voted down because the prospective new owners didn't actually have the money and financing they said they had. This Seattle group has the money and the bigger offer.

The Maloofs were not allowed to move the Kings to Anaheim just two years ago. Nobody in the NBA has an ounce of respect for those clowns so it's not a surprise the Maloofs did not get their way here.

 

[thecatch]

Despite Seattle trolling Sacramento fans on the Internet for the last couple months, I hope they get an expansion team or a team from an unsupportive market. But with an arena deal, a matching or very nearly matching offer, and an argument as having the most supportive fans in the NBA, Sacramento very much deserved to keep the team.

 

[Joe Summer]

Game ain't over yet. The Board Of Governors could still decide to overrule the recommendation of the Owners Committee.But it doesn't look good for Seattle.

 

[moneyman]

Adrian Wojnarowski ‏@WojYahooNBA 28m

The NBA committees have voted no to relocation of Kings to Seattle, sources tell Y! Sports.

It's being reported as a unanimous decision.You have to give KJ a lot of credit. Putting up a competing deal, a vote on a new arena, and turning momentum around in such a short period of time is amazing.

Kevin Johnson ‏@KJ_MayorJohnson38m
I want to take my hat off to Seattle.you're a great city,had a great proposal, unbelievable fans & no doubt deserve a team in the future.

 

[proninja]

Really happy for Sacramento. I'm disappointed, of course, and would have been happy to have the team, but it's nice to see the right thing being done.

If I could vote for Kevin Johnson for mayor I would. Guy deserves serious props.