Nothing would stop that from happening. I mean, Miami retired Michael Jordan's jersey despite him having not ever played for them.Originally Posted by Kings Faithful
Nothing would stop that from happening. I mean, Miami retired Michael Jordan's jersey despite him having not ever played for them.
Regarding the ownership of the Arena if the team is sold to local investors, the local investors would own it. The arena and property would be part of the sale. Think about it. If the new owner(s) assumes the 77M debt - of which the arena and surrounding property is collateral - then they also assume ownership of the building and the property it rests upon. Didn't Jim Thomas own it until the Maloofs bought him out? Same logic would apply to another ownership change.
Makes sense. Thanks.
Well, there is one ownership for the team and one for the arena, actually. The city also has a $25 million dollar stake in the team as part of the collateral for the city loan. I think a local buyer would assume the city loan from the arena ownership, which would make them the arena owners. And it would likely be a great deal for the Maloofs, because the collateral, especially the arena might not be worth the current loan amount that would come due if the team moves.
I don't want Van Dusan as the buyer, because he wants to keep the ST arena and renovate it. I think that's a stupid idea and not in the city's best interest.
PROUD OF SACRAMENTO. PROUD TO BE A KINGS FAN.
I wonder if any of that is his response to MSE as a way to keep the team in Sacramento. I haven't heard if he has ever said that is his preferred option or just an option. He seems pretty "gung ho" about it though....
Sacramento Kings - 2013 - the future starts NOW!
Long live the SACRAMENTO Kings!
I doubt the NBA would look kindly on any buyer not having a viable arena plan.
I suspect that it was just a way to keep the team in Sacramento. I don't recall the earlier news reports when he was talking about the current dump being able to be renovated/refurbished mentioning his desire to outright buying the team (but then again my memory isn't the greatest anymore).
I saw him in one of the studio newsrooms the other day and he was interviewed. He was definitely all about buying the team and renovating the Sleep Train.
That's more recent than what I was referring to as "earlier news reports." He had been in and out of the news about the ability to renovate the current facilities since the "agreement" for the downtown arena was scuttled by the most beloved of all Maloofs, Georgie boy.
That's possible, but I think the dynamic is George looking for ways to make become unbroke, giving up on the idea of moving the team while keeping ownership, then listening to offers. Perhaps he had heard the rough outlines of offers from the Sacramento investors before and they were too low, so he engaged with Seattle.
But you're right in that convincing the board of governors that there is an equally viable offer that keeps the team in town with a new arena would be ideal.
I think I read it in a Bee article. Will have to go find it.
PROUD OF SACRAMENTO. PROUD TO BE A KINGS FAN.
Aaron Bruski @aaronbruski
Sacramento is the favorite to keep the Kings in my eyes based on conversations with sources close to the situation.
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I stopped listening to "bruski" after he said "JAMES JOHNSON DOESN'T DESERVE TO BE ON AN NBA FLOOR" And his very next tweet was "he could be a player though in the right team"
uhhhh. Mr Hyperbole. zzzzzzzzzz
I don't believe that will ever get it done. NBA would turn its back.
Right not now I'm hoping that our best REALISTIC chance is if Stern and Co say to themselves "wait a minute... if we play our cards right we can have it ALL. Burkle money, Hansen money, Maloofs, gone, new arena in Sac, new arena in Seattle = Sell Kings to sac group, and give Seattle an expansion team".
If it comes down to simple Sac vs Seattle, or Hansen vs Burkle... I don't love our chances at all. And if keeping the team in Sac with a sleep train renovation means no Hansen and zero new arenas... well... how you you vote if you are on the BOG? come on.
A great way for Stern to exit. It's like a perfect storm scenario is right at his fingertips. The end result could be his masterpiece, his Swan Song.
Last edited by VF21; 01-13-2013 at 11:56 AM.
Don't confuse Bruski's basketball knowledge with the knowledge of the current ownership situation. He's been on top of this from the beginning, and for the most part, he's been very accurate. Basketball oppinion is subjective, but for the most part, whats happening now is hopefully based on factual information. As much as that is possible with the Maloof's. It would be like saying a attorney isn't good at his job because of his lack of basketball knowledge.
Its hard to have a battle of wits with an unarmed person.
Hard work beats talent, when talent doesn't work hard.
Carmichael Dave @CarmichaelDave
Here's to today being the first of TWO gut wrenching losses for Seattle this week.
Well he is a basketball reporter.... or so i assumed. Before this Seattle story broke his twitter feed was just full of ridiculous hyperbole about this player and that.
When things like this happen it really is hard to know who's on top of anything.
you've got some reporters saying this is over, some saying it's not even started, so who's correct? Hard to say really.
LOVE IT!
I've started a new thread for all the rumors, articles, thoughts, etc. on the whole sale scenario. If people will use the one thread, we won't have two threads at cross purposes.
Thanks all!
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
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