Breaking: One potential buyer to keep Kings in Sac enters the ring.
Doesn't have enough wealth in total but could play a role as part of a group.
I'm signing up for 24 Hour Fitness today.
Does anyone know the difference between keeping the team here and a relocation to Seattle would be? I see the $77 million figure thrown around a lot, but have also read other various debts/loans that would affect the price tag for the Seattle group.
We should get a KF investment pool and help this guy out. I'll chip in $100.
sleep train CEO is in now too?
24 hour sleep train arena?
Awesome. Mastrov lives in my neck of the woods. If I knew he might do this I wouldn't have cancelled my 24 hr membership.
But investors wanting a shot was bound to happen. There's more potential owners out there than there are NBA teams. Only question is can KJ put this together quickly enough.
“Sacramento is where I want to be,’’ he said. “I want to bring the organization back, help the organization get started back winning. I love the city of Sacramento. That’s where I want to be. End of story. “We can dig a hole, throw that topic in there, cover it with dirt, pack it down. I want to be in Sacramento. End of story.’’ -DeMarcus Cousins
Our franchise literally is about to rise from the ashes.
The loan to the city is $64 million with $14 million in interest, so $77 million to the city. It's a loan, they could very well pay off that loan with a loan... so to count that as a $77 million "discount" as others seem to be doing isn't correct.
There's the issue of the $150-219 million the team owes the NBA, but that's likely paid off from what the Maloofs get from the sale.
So the real discount comes down to the $30 minimum relocation fee. That's still a hefty discount for keeping the Kings in Sacramento. We'll see how it plays out. The people with the deepest pockets don't always win.. or Larry Ellison would own the Warriors right now..
SACRAMENTO KINGS - A Family Tradition - The passion runs deep with fans of this team.
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THANK YOU KEVIN JOHNSON! #WeAreSacramento - May 17, 2013