NBA returning to Seattle?

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Re: NBA returning to Seattle?
Sat May 11, 2013 3:14 pm
  • Maloofs are great people :)
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:20 pm
  • Smelly McUgly wrote:http://espn.go.com/nba/story/_/id/9265605/sources-maloof-family-cuts-new-deal-sacramento-kings

    From the article:
    Chris Hansen and Steve Ballmer, the deep-pocketed Seattle-based investors trying to acquire the team, have struck a new deal with the Maloofs that may create more drama in Sacramento and the league office.

    Two sources told ESPN.com the Maloofs have informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved by league owners next week, they will not sell the team to a Sacramento-based group that promises to keep the Kings in Sacramento.

    Instead, the cash-strapped Maloofs have made a "backup" agreement with the Hansen-Ballmer group to sell them 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise.

    That new "backup" plan comes on the heels of Hansen's announcement on Friday that he had upped his offer to buy the Maloofs' 65 percent of the Kings to $409 million (from $358 million) for a total valuation of $625 million.

    Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma City Thunder moved from Seattle, they paid a $30 million fee to the other owners.

    Coolness! HBN are playing chess while Stern and the NBA are playing checkers!
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:25 pm
  • Sports Hernia wrote:
    Smelly McUgly wrote:http://espn.go.com/nba/story/_/id/9265605/sources-maloof-family-cuts-new-deal-sacramento-kings

    From the article:
    Chris Hansen and Steve Ballmer, the deep-pocketed Seattle-based investors trying to acquire the team, have struck a new deal with the Maloofs that may create more drama in Sacramento and the league office.

    Two sources told ESPN.com the Maloofs have informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved by league owners next week, they will not sell the team to a Sacramento-based group that promises to keep the Kings in Sacramento.

    Instead, the cash-strapped Maloofs have made a "backup" agreement with the Hansen-Ballmer group to sell them 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise.

    That new "backup" plan comes on the heels of Hansen's announcement on Friday that he had upped his offer to buy the Maloofs' 65 percent of the Kings to $409 million (from $358 million) for a total valuation of $625 million.

    Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma City Thunder moved from Seattle, they paid a $30 million fee to the other owners.

    Coolness! HBN are playing chess while Stern and the NBA are playing checkers!


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Re: NBA returning to Seattle?
Sat May 11, 2013 3:27 pm
  • 115 MILLION FOR RELOCATION?!?!

    How close are our boys to the B-Line?
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:32 pm
  • Throwdown wrote:115 MILLION FOR RELOCATION?!?!

    How close are our boys to the B-Line?


    401M for the 65%
    15M for the 7%
    115M for relo

    That is 531M overall so far just to buy the team and move it to Seattle.

    I like that to convince the other owners to ignore that moron David Stern, they are offering a bribe of 4M apiece.
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:42 pm
  • That's the middle finger to KJ and stern.
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:44 pm
  • Maybe I'm not reading this right but wouldn't that backup offer leave the Maloofs in control of the team and the Seattle group as minority owners? Don't we want the Seattle group to be the majority owners? or is this just about trying to get the sac group basically out of the picture?
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:48 pm
  • Msfann wrote:Maybe I'm not reading this right but wouldn't that backup offer leave the Maloofs in control of the team and the Seattle group as minority owners? Don't we want the Seattle group to be the majority owners? or is this just about trying to get the sac group basically out of the picture?

    I see it as more of a middle finger to the NBA and Stern. The Maloofs are pretty much telling them that they will sell ONLY to the Seattle group!

    Hell yes!
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:49 pm
  • Smelly McUgly wrote:
    Throwdown wrote:115 MILLION FOR RELOCATION?!?!

    How close are our boys to the B-Line?


    401M for the 65%
    15M for the 7%
    115M for relo

    That is 531M overall so far just to buy the team and move it to Seattle.

    I like that to convince the other owners to ignore that moron David Stern, they are offering a bribe of 4M apiece.


    Plus $80 Million in land purchases and the payment for studies during the whole arena approval process, they gotta be at $700-$800 Million mark, and they still got loot left over! The NBA was ready to turn these guys away???
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:50 pm
  • Msfann wrote:Maybe I'm not reading this right but wouldn't that backup offer leave the Maloofs in control of the team and the Seattle group as minority owners? Don't we want the Seattle group to be the majority owners? or is this just about trying to get the sac group basically out of the picture?



    The Maloofs would just move the team to Seattle themselves, then sell the rest of the shares to hansen/ballmer
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:57 pm
  • i'm still trippin off that..

    ONE HUNDRED AND FIFTEEN MILL-EE-OWN!!! FOR RELOCATION!!!

    Bennett only paid $30m!!
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Re: NBA returning to Seattle?
Sat May 11, 2013 3:58 pm
  • NEW VOTE:

    Do you want 4 million dollars, or no?
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:15 pm
  • TheRealDTM wrote:NEW VOTE:

    Do you want 4 million dollars, or no?


    Hmmmm no no I would rather pay millions sorry. Thanks for the offer. :sarcasm_off:
    :snack: just waiting for KJ to say he is still confident with his big smille. :141847_bnono: this is game over.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:20 pm
  • I could use a few bucks right now.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:23 pm
  • This is truly incredible. I've never seen anything like it. This ownership group is so committed it is a little awe-inspiring. 115 million dollar relocation fee, paying into revenue sharing, upping the offer to buy the team, on top of the money they've already paid out.

    I dislike the NBA but love the Sonics, and it gets me excited thinking about having these owners running our team.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:28 pm
  • Fuzzman55 wrote:This is truly incredible. I've never seen anything like it. This ownership group is so committed it is a little awe-inspiring. 115 million dollar relocation fee, paying into revenue sharing, upping the offer to buy the team, on top of the money they've already paid out.

    I dislike the NBA but love the Sonics, and it gets me excited thinking about having these owners running our team.


    It was just 5-6 years ago that Seattle was the worst city for sports. Not so much now.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:41 pm
  • I said it before and I will say it again the seattle group needs to rais the 12th man flag Sunday night football vs 49ers
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:43 pm
  • Chris Daniels ‏@ChrisDaniels5 3m
    I can now confirm, according to a high level source, that the Hansen/Ballmer team had agreed to pay NBA $126 MILLION to relocate #NBAKings


    So, um 126M. That's an extra...let me do my math...380K per owner.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:47 pm
  • Smelly McUgly wrote:
    Chris Daniels ‏@ChrisDaniels5 3m
    I can now confirm, according to a high level source, that the Hansen/Ballmer team had agreed to pay NBA $126 MILLION to relocate #NBAKings


    Um....ah.......yeah............thats a lot of dough.
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Re: NBA returning to Seattle?
Sat May 11, 2013 4:48 pm
  • Smelly McUgly wrote:
    Chris Daniels ‏@ChrisDaniels5 3m
    I can now confirm, according to a high level source, that the Hansen/Ballmer team had agreed to pay NBA $126 MILLION to relocate #NBAKings


    So, um 126M. That's an extra...let me do my math...380K per owner.


    I will be thoroughly disappointed if these men ever buy another beer in Seattle again. I for one intend on making it over to a couple of games this year and celebrate via drinks. They have reached iconic levels. Even more so
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:00 pm
  • Billion dollar question now is..

    Is Sacramento worth using the Best Interest clause/takeover for the NBA?

    Does the NBA really want to set THAT precedent for a city like Sacramento?
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:03 pm
  • Throwdown wrote:Billion dollar question now is..

    Is Sacramento worth using the Best Interest clause/takeover for the NBA?

    Does the NBA really want to set THAT precedent for a city like Sacramento?


    Nope. They have a good group willing to buy them and or invest in the team. In my eys this has to be game over.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:04 pm
  • RealDeal wrote:
    Throwdown wrote:Billion dollar question now is..

    Is Sacramento worth using the Best Interest clause/takeover for the NBA?

    Does the NBA really want to set THAT precedent for a city like Sacramento?


    Nope. They have a good group willing to buy them and or invest in the team. In my eys this has to be game over.


    I still have my blitzer goggles on right now, we ARE dealing with Stern. He seems hell bent on keeping Sacramento.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:06 pm
  • It would not hold up in court, so if Stern wants to drag the owners through the mud and flat-out embarrass himself, he can sure try.

    He should just roll over on this and figure out how to save face.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:08 pm
  • Throwdown wrote:
    RealDeal wrote:
    Throwdown wrote:Billion dollar question now is..

    Is Sacramento worth using the Best Interest clause/takeover for the NBA?

    Does the NBA really want to set THAT precedent for a city like Sacramento?


    Nope. They have a good group willing to buy them and or invest in the team. In my eys this has to be game over.


    I still have my blitzer goggles on right now, we ARE dealing with Stern. He seems hell bent on keeping Sacramento.


    My Stern goggles will never come off......... :141847_bnono:
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:09 pm
  • Michael McCann ‏@McCannSportsLaw 14m
    Maloofs won’t sell Kings to Sacramento group? NBA cannot force a sale—unless NBA wants to test its Bests Interests power. Likely in court.


    I must be a genius today...

    Still dont want to say "checkmate", Someone else wanna say it for me??
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:12 pm
  • Throwdown wrote:
    Michael McCann ‏@McCannSportsLaw 14m
    Maloofs won’t sell Kings to Sacramento group? NBA cannot force a sale—unless NBA wants to test its Bests Interests power. Likely in court.


    I must be a genius today...

    Still dont want to say "checkmate", Someone else wanna say it for me??


    CheckMate! :th2thumbs:
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:20 pm
  • Throwdown wrote:
    RealDeal wrote:
    Throwdown wrote:Billion dollar question now is..

    Is Sacramento worth using the Best Interest clause/takeover for the NBA?

    Does the NBA really want to set THAT precedent for a city like Sacramento?


    Nope. They have a good group willing to buy them and or invest in the team. In my eys this has to be game over.


    I still have my blitzer goggles on right now, we ARE dealing with Stern. He seems hell bent on keeping Sacramento.


    What is he going to do though, when the BoG meets and a few of them step up and say, "can i sell him my team"?
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:21 pm
  • That's great news. Glad Maloofs are seeing through all of this. I'm going to have to stay at the Palms casino next time I go to Vegas.

    I do have some questions, the leader of the potential Sacramento buyers is Vivek Ranadive. I believe he has part-ownership in the Warriors. Doesn't he have to sell his ownership before he can buy the Kings? An owner cannot have share in two teams right? So in a way, isn't this sort of collusion (in NBA terms) that the lead buyer is already owner? I think part of the problem is that maybe the owners are favoring Sac group because the lead buyer is already one of their own.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:24 pm
  • hawkfan68 wrote:That's great news. Glad Maloofs are seeing through all of this. I'm going to have to stay at the Palms casino next time I go to Vegas.

    I do have some questions, the leader of the potential Sacramento buyers is Vivek Ranadive. I believe he has part-ownership in the Warriors. Doesn't he have to sell his ownership before he can buy the Kings? An owner cannot have share in two teams right? So in a way, isn't this sort of collusion (in NBA terms) that the lead buyer is already owner? I think part of the problem is that maybe the owners are favoring Sac group because the lead buyer is already one of their own.


    Im going in 3 weeks. I need stop in there and get a few drinks. Make sure to wear some sonics gear.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:47 pm
  • Throwdown wrote:
    Michael McCann ‏@McCannSportsLaw 14m
    Maloofs won’t sell Kings to Sacramento group? NBA cannot force a sale—unless NBA wants to test its Bests Interests power. Likely in court.


    I must be a genius today...

    Still dont want to say "checkmate", Someone else wanna say it for me??


    I was wondering about a "Best Interest" takeover by the NBA when the story was reported about the Maloofs "backup" offer. The NBA owned the New Orleans Hornets for awhile until Benson and not sure what happened in Charlotte. I could see Stern and company trying this end run. This has been one long drawn out ugly situation.

    The amount of money Hansen/Ballmer/Nordstorm are putting into this transaction to make it happen is mind-blowing. I wonder at what point does it no longer make economical sense to pursue the deal? The relocation payment, the twice updated valuation for the club, the pay into sharing only. I would think there is no way they can do without the NBA TV money, so that has to be a non-negotiable issue. Wonder how much this upfront money and givebacks affects their profit margin?

    Would love to see a chart that showed the point of projected losses. These guys are close to $1B being spent or vacated to make this deal. Crazy.
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Re: NBA returning to Seattle?
Sat May 11, 2013 5:58 pm
  • drdiags wrote:
    Throwdown wrote:
    Michael McCann ‏@McCannSportsLaw 14m
    Maloofs won’t sell Kings to Sacramento group? NBA cannot force a sale—unless NBA wants to test its Bests Interests power. Likely in court.


    I must be a genius today...

    Still dont want to say "checkmate", Someone else wanna say it for me??


    I was wondering about a "Best Interest" takeover by the NBA when the story was reported about the Maloofs "backup" offer. The NBA owned the New Orleans Hornets for awhile until Benson and not sure what happened in Charlotte. I could see Stern and company trying this end run. This has been one long drawn out ugly situation.

    The amount of money Hansen/Ballmer/Nordstorm are putting into this transaction to make it happen is mind-blowing. I wonder at what point does it no longer make economical sense to pursue the deal? The relocation payment, the twice updated valuation for the club, the pay into sharing only. I would think there is no way they can do without the NBA TV money, so that has to be a non-negotiable issue. Wonder how much this upfront money and givebacks affects their profit margin?

    Would love to see a chart that showed the point of projected losses. These guys are close to $1B being spent or vacated to make this deal. Crazy.


    Tack on a boat load of cash to land this guy and it gets even more crazy...

    http://www.complex.com/sports/2013/05/p ... to-seattle

    They're not taking no for an answer. Seems clear that they've made this decision.
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Re: NBA returning to Seattle?
Sat May 11, 2013 6:00 pm
  • I believe what happened with the Hornets is what I assum you're talking about is that the former owner had fallen sick, had sold it to some oil guy but the deal fell through. The Hornets former owner couldn't find another local buyer afterwards and the NBA stepped in and bought the team off him and eventually found a local buyer in Tom Benson who also owns the Saints.

    I believe a takeover would be a forced buyout of the Maloofs who would most likely take it to court and it would be a long drawn out process while the team continued to lose money in a far far worse shape arena that's getting worse by the day. Not to mention a small market, is it really worth setting that precedent for THIS team? And it might not even hold up.

    We'll see though I'm not the smartest guy around lol
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Re: NBA returning to Seattle?
Sat May 11, 2013 6:34 pm
  • Chris to NBA:

    RockHawk wrote:This has turned into nothing but a personal attack, which goes against our forum rules...... I'll allow it.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:30 pm
  • I still think we're sunk. The NBA has displayed time and again that it's crooked, and IMO the fix is in on this one. Stern is determined to keep the Kings in Sacramento, and so they will stay in Sacramento. I don't think it matters how much money is offered.

    I could be wrong, of course. Maybe I'm just cynical at this point.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:37 pm
  • jkitsune wrote:I still think we're sunk. The NBA has displayed time and again that it's crooked, and IMO the fix is in on this one. Stern is determined to keep the Kings in Sacramento, and so they will stay in Sacramento. I don't think it matters how much money is offered.

    I could be wrong, of course. Maybe I'm just cynical at this point.



    No you're 100% correct. We are not getting this team, we could offer 1 billion dollars and they wouldn't do it. Stern is a smug vindictive pr*** and once he makes up his mind it's over.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:40 pm
  • jkitsune wrote:I still think we're sunk. The NBA has displayed time and again that it's crooked, and IMO the fix is in on this one. Stern is determined to keep the Kings in Sacramento, and so they will stay in Sacramento. I don't think it matters how much money is offered.

    I could be wrong, of course. Maybe I'm just cynical at this point.


    The NBA screwed themselves by approving Hansen for the 7% of the Kings that was in Bankruptcy court. They turn us down at all, they are both opening themselves up to lawsuits and keeping the Maloofs around. So I welcome them turning us down, just means things will get messy.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:45 pm
  • One way or another I still see Stern doing something to keep the Kings in Sacramento. I hate that man.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:52 pm
  • I really wouldn't put it past him to try a best interest takeover
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:53 pm
  • Blitzer88 wrote:One way or another I still see Stern doing something to keep the Kings in Sacramento. I hate that man.


    I see it too. But on another hand I also see the BOG growing some stones/a brain and telling Stern that they're not going to turn away 126 mil worth of relocation money AND their own teams net worth growing exponentially, just for sentimentality. Plus, the law and all.
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Re: NBA returning to Seattle?
Sat May 11, 2013 7:54 pm
  • Throwdown wrote:I really wouldn't put it past him to try a best interest takeover


    Which, hey, lawsuits.
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:19 pm

Re: NBA returning to Seattle?
Sat May 11, 2013 8:27 pm
  • Son they shook! Cuz there ain't no such things as half way crooks!
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:34 pm
  • JOz56 wrote:
    jkitsune wrote:I still think we're sunk. The NBA has displayed time and again that it's crooked, and IMO the fix is in on this one. Stern is determined to keep the Kings in Sacramento, and so they will stay in Sacramento. I don't think it matters how much money is offered.

    I could be wrong, of course. Maybe I'm just cynical at this point.


    The NBA screwed themselves by approving Hansen for the 7% of the Kings that was in Bankruptcy court. They turn us down at all, they are both opening themselves up to lawsuits and keeping the Maloofs around. So I welcome them turning us down, just means things will get messy.


    Just to clarify, a court approved the sale of the 7% to Hansen, I don't think the NBA has approved it yet.
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    The Outfield
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:40 pm
  • Nope, they have to approve that too.
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:42 pm
  • E.C. Laloosh wrote:http://www.news10.net/video/default.aspx?bctid=2374935577001

    Sacramento local news...


    That news station really needs to work on their building acoustics.
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:45 pm
  • As an unbiased outsider to the situation i'm putting the odds at 66% they're playing in Seattle next season, 34% they're playing in Sacramento (this with no lawsuits filed and no major drama).

    It feels like David Stern vs Common Sense and what's best for the league, and I think the in the end things go Seattle's way and David Stern can tell the people of Sacramento, "I tried my best." Then Seattle will get a team and be happy, and Sacramento will feel like they did everything they could do but it just wasn't enough. The rest of the owners can be happy cuz they milked as much as possible from the Seattle ownerships group. David STern is playing the role of Villain in Seattle but I think behind the scenes he knows its going to happen and he's trying to make backlash in Sacramento as little as possible. He's trying to make the Maloofs the "bad guy" rather then the NBA in efforts to keep the market once the Kings are gone.

    Of course, that's all just my opinion and could be completely wrong.
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:56 pm
  • Thanks for your take J, it's good to hear from someone who isn't plugged into this situation 24-7 like we are. I tend to agree. I think today's events put a choice in front of the NBA, go with Stern's push and get a Maloof owned Sac Kings next year, or go with a wealthy group in Seattle that will make you a ton of money. Stern only has so much pull, and today it's been made clear that the group Stern put together won't ever get a hold of that team.
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    pinksheets
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:57 pm
  • The Outfield wrote:
    JOz56 wrote:
    jkitsune wrote:I still think we're sunk. The NBA has displayed time and again that it's crooked, and IMO the fix is in on this one. Stern is determined to keep the Kings in Sacramento, and so they will stay in Sacramento. I don't think it matters how much money is offered.

    I could be wrong, of course. Maybe I'm just cynical at this point.


    The NBA screwed themselves by approving Hansen for the 7% of the Kings that was in Bankruptcy court. They turn us down at all, they are both opening themselves up to lawsuits and keeping the Maloofs around. So I welcome them turning us down, just means things will get messy.


    Just to clarify, a court approved the sale of the 7% to Hansen, I don't think the NBA has approved it yet.


    I'm sure the courts would love for the NBA to explain why they denied the only bidder.
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Re: NBA returning to Seattle?
Sat May 11, 2013 8:58 pm
  • JOz56 wrote:I'm sure the courts would love for the NBA to explain why they denied the only bidder.


    I know I would!
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