http://www.wavy.com/dpp/news/local_n...-arena-projectFirst, the city will have to get a commitment, on paper, from all the players, including Comcast-Spectacor and the anchor tenant. Sessoms said he plans to get this "term sheet" done before the legislative session convenes Jan. 9.
At that time, Sessoms said the anchor tenant and the lease agreement will be revealed.
Yeah, good luck getting the Maloofs to sign their name to ANYTHING!
Sacramento Kings - 2013 - the future starts NOW!
Long live the SACRAMENTO Kings!
Term sheet signed? George knows those aren't a real commitment.
I didn't want to be the one to say it as I just quoted the article but they never mentioned the words "non-binding" in their article. #JustSayingOriginally Posted by Warhawk
Am I missing something here? How can they sign anything without the BoG relocation approval?
All in all you're just another brick in the wall. - Pink Floyd
They can first sign the lease deal but then it has to go through BOG approval. If it gets rejected by the BOG, the lease becomes voided. The Maloofs would most likely take the league to court and then it would get interesting.
If the name Sacramento Kings is "revealed" on Jan. 9, I would not like to be Joe or Gavin Maloof - unless they've already sold their homes and moved.First, the city will have to get a commitment, on paper, from all the players, including Comcast-Spectacor and the anchor tenant. Sessoms said he plans to get this "term sheet" done before the legislative session convenes Jan. 9.
"Certainly within a close time frame of that date," Sessoms said Tuesday. "No question in my mind. We're going to have to."
At that time, Sessoms said the anchor tenant and the lease agreement will be revealed.
SACRAMENTO KINGS - A Family Tradition - The passion runs deep with fans of this team.
Why is the rum always gone? -- Cap'n Jack Sparrow
THANK YOU KEVIN JOHNSON! #WeAreSacramento - May 17, 2013
I doubt they have lived here for quite some time now...George probably told them they have to move.
"The current Sacramento Kings owners have proven time and time again that they do not care about the squad’s fans, the community that surrounds the team, and the product on the court. The Sacramento Kings owners are sniveling, conniving front-runners that do not understand the game of basketball, much less the ideals that help buttress attempts at tact, poise and reason." - Kelly Dwyer
We can only hope this happens...David Stern's lawyers are better than the Maloof's...and I'm sure their lawyers will be fittingly from Va. Beach, just like their puppet guy from Anaheim that said Sacramento's arena plan wasn't good for Sacramento.
"The current Sacramento Kings owners have proven time and time again that they do not care about the squad’s fans, the community that surrounds the team, and the product on the court. The Sacramento Kings owners are sniveling, conniving front-runners that do not understand the game of basketball, much less the ideals that help buttress attempts at tact, poise and reason." - Kelly Dwyer
I don't think they ever signed on the Anaheim deal. They were waiting for BoG approval first.
All in all you're just another brick in the wall. - Pink Floyd
Here is another thought. If they sign the deal does that make the city bonds come due?
All in all you're just another brick in the wall. - Pink Floyd
I'm sure some city attorney has looked into that very angle.
Man wouldn't it just be fitting if the maloofs strung VA Beach all the way along and then refused to sign knowing that it would make the bonds come due. I can't remember the exact language but I'm sure Kennadog has posted it here at least once. Maybe I can find it.
They will not sign anything until after the season is over. If the "Kings" are revealed as the potential tenant, they will use the same line they've used before - saying that their heart is in Sacramento, they want to stay, etc. etc... but they have to be responsible business people and listen to other offers and opportunities, bla bla bla. But they REALLY want to stay!!!!
They will then request an extension of the filing deadline until the season is over (or at least until the last home game), citing that the VB deal/plan is still in progress or incomplete and needs some more time, milk the Sacramento fans for every dollar they can, THEN go to the BOG looking to relocate.
All the while people here go crazy, fill the arena to "show support", further financing the Maloof's departure while they laugh all the way to the bank.
They've done it before, they will do it again. They'll play with the system and milk the fans here for every dollar they can. It's all about $$$ ....
I doubt they give them an extension this time after what happened last time. Nothing has changed on Sacramento's side. The parking to pay for the arena is still available.
All in all you're just another brick in the wall. - Pink Floyd
They were given an extension before because the Anaheim plan was incomplete, and also to give them one last shot at sitting down with the city (Sacramento) to see if things could work out.
The same argument could be made here... VB plan is incomplete, one last shot for Sac... same circumstances. The NBA would have to approve it, or it could be used for ammo when/if the Maloofs sue them.
Time to stop being dismissive, there is starting to be a lot of smoke here
No matter how much smoke there is, the deal can't go down without the Governor of Virginia including $150M from the state budget to go towards the deal. He has already said that he won't do that. Game over before it started? Sounds like it. Beyond that, there are hurdles like the relocation committee. But hey, panic if you want.
Capt., I agree that there is still a minimal chance of the notion of the Virginia Beach Kings ever seeing the light of day. Just meant that I have went from outright laughing at the matter to curious if there is something at all going on
Good, I hope that fails, the Maloof's go broke and have to sell even sooner.
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