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  1. T

    NBA returning to Seattle?

    If it doesn't work i will own up the question is will all of you. The deal the magoofs made is if they relocated the team or sold it they would repay the loan in full.
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    NBA returning to Seattle?

    http://www.sactownroyalty.com/2012/9/11 ... o-and-well
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    NBA returning to Seattle?

    Yes 1997 the year they bought the kings and borrowed money from the city.
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    NBA returning to Seattle?

    Maybe you should look again the magoofs owe the city of sacramento for money they borrowed for the current arena. It has nothing to do with past owners. Then the magoofs have borrowed more than 75 million from the NBA
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    NBA returning to Seattle?

    This is a silly assumption made by Sacramento fans that has never been shown to be true. The Maloofs do not owe the money to the city, the Kings organization does. The Maloofs inherited that debt as Kings owners, did they not? From all we can tell, the Hansen group would be paying that loan off...
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    NBA returning to Seattle?

    I also just read in the sac bee that the Sacramento group plans to put half of the 341 million in escrow account by Friday. Seattle's bid is higher but that is also due to the fact that the magoofs owe the City of Sacramento 70 million. If the Sacramento group wins they will then owe the money.
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    NBA returning to Seattle?

    The current arena in about 5 miles north that has residential areas all around it. So the current parking revenue doesn't include the current arena.
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    NBA returning to Seattle?

    We don't want you to feel sorry but I am pretty sure Sacramento will be just fine and I will once again buy season tickets to the kings.
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    NBA returning to Seattle?

    212 million would be paid from the parking revenue and the other 38 million would be from the land the City of Sacramento owns and would give go the owners. The rest would be from private funding. The city makes 9 million a year right now with out an arena. I am pretty sure it makes sense...
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    NBA returning to Seattle?

    The NBA can force the magoofs to sell since the NBA has been forking over money every year to keep them afloat.
  11. T

    NBA returning to Seattle?

    The state of California just had a surplus in revenue for the first three months of the year of 4.5 billion which about 40% of that goes back to schools.
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    NBA returning to Seattle?

    It has worked and hasn't worked. I read in Chicago and Cincinnati it would have worked but they turned the revenue over to a private company that screwed those cities. People are shopping and doing many other things. The area where downtown plaza is really isn't a good location for a mall...
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    NBA returning to Seattle?

    The money for the arena is coming from parking that is in downtown sacramento. Also the area that the arena will be built some of it belongs to the city of Sacramento that they will give to who ever owns the arena which is worth 38 million.
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    NBA returning to Seattle?

    The arena deal fell through because the magoofs couldn't afford there part of 70 million last year. They didn't want to pay adimefor it but wanted all profits from the arena.
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    NBA returning to Seattle?

    What taxes the arena won't be payed with taxes.
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    NBA returning to Seattle?

    For my first post I will say it should have never came to this. The magoofs told everyone in Sacramento that the Kings were not for sale then over night they sell them. They should have sold them to the Sacramento group that tried to buy them two years ago. The only reason they sold them to...

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