((HT: Sportsnet))
MGM is building a new arena in Las Vegas, the HQ knows this...
The NHL Owners Meetings in Boca are now are kicking the tires on the the idea of going to that new Maloof Brothers arena and housing a franchise in that city- whether it's as a relocation or an expansion franchise.
Here's Strombo, Kypper, and Friedge after Evanka Osmak sets the introduction to discuss
The HQ has looked at the landscape and it appears to be going in three directions- Las Vegas, Quebec City, and Seattle.
It would make more sense to relocate ailing franchises in Phoenix and Florida to two of those cities and expand to Seattle and a 32nd city. But, with the idea of fellow owners getting over $30-million if two franchises are added, there's going to be a push in the next few years for the watering down of a product instead of strengthening what you already have.
Money in hand always trumps money down the line...
Showing posts with label Maloof Brothers. Show all posts
Showing posts with label Maloof Brothers. Show all posts
Tuesday, December 9, 2014
Tuesday, November 25, 2014
Is The NHL Heading To Vegas...? It May Be Being Shot As We Write...
((HT: VegasChatter))
This isn't the first time that the HQ has floated this story, but the idea is that the WorldWideLeader is already looking at the story and may be shooting a "30 for 30" with the Maloof Brothers.
Without an arena and a team...
But...
Vegas Chatter is saying that the "Birth of a Franchise" story is already being shot with the development of the new AEG arena front and center. The arena, set for opening in spring of 2016, would be the apparent home for a new sports franchise- when its completed.
Two weeks ago, NHL Number Two Bill Daly was asked about Vegas by the Minneapolis Star-Tribune:
Las Vegas is intriguing, Daly admits. In fact, out of curiosity, Daly queried a bunch of service industry folks — bartenders, waiters, drink servers, dealers, pit bosses — last weekend about whether they felt a professional sports team could thrive there.
“I got a variety of different responses,” Daly said. “The demographics of the market are pretty good in terms of average annual income. Las Vegas natives earn good salaries, good livings. I think they genuinely like sports. It’s a nighttime city, so it would have to be uniquely scheduled in terms of focusing maybe on industry nights as opposed to your typical Thursday-Saturday nights where everybody would be working.
NESN's "The Instigators" think Seattle and Quebec City are better ideas...
This isn't the first time that the HQ has floated this story, but the idea is that the WorldWideLeader is already looking at the story and may be shooting a "30 for 30" with the Maloof Brothers.
Without an arena and a team...
But...
Vegas Chatter is saying that the "Birth of a Franchise" story is already being shot with the development of the new AEG arena front and center. The arena, set for opening in spring of 2016, would be the apparent home for a new sports franchise- when its completed.
Two weeks ago, NHL Number Two Bill Daly was asked about Vegas by the Minneapolis Star-Tribune:
Las Vegas is intriguing, Daly admits. In fact, out of curiosity, Daly queried a bunch of service industry folks — bartenders, waiters, drink servers, dealers, pit bosses — last weekend about whether they felt a professional sports team could thrive there.
“I got a variety of different responses,” Daly said. “The demographics of the market are pretty good in terms of average annual income. Las Vegas natives earn good salaries, good livings. I think they genuinely like sports. It’s a nighttime city, so it would have to be uniquely scheduled in terms of focusing maybe on industry nights as opposed to your typical Thursday-Saturday nights where everybody would be working.
NESN's "The Instigators" think Seattle and Quebec City are better ideas...
Thursday, November 13, 2014
Reports: NHL to Expand to Vegas and _______
((ht: nypost.com))
It appears the National Hockey League is ready to grow.
And like the early U.S pioneers, they are working under the credo "Go West Young Man".
How else to explain the report that the league is looking two teams for their Western Conference.
And the reason this is newsworthy? Well, one of those teams may very well be the 1st pro sports team to base in the gambling capital of North America, Las Vegas.
The New York Post reports the NHL has already chosen owners for the Vegas franchise, billionaire William Foley and Vegas mobsters-hoteliers/former NBA owners, the Maloof family.
Oh, wait, did we just say that?
The team would play in the new 20,000+ seat arena being built on or near the MGM Resort and be admitted with a roughly $400 million expansion fee.
Read more from the Post RIGHT HERE
The story doesn't mention another franchise location, but the reason the league would need 2--to balance things with the Eastern Conference which has two more teams.
Our bet: Seattle. The league and the NBA have already flirted with Chris Hansen and others looking to bring the NBA and/or the NHL to Seattle. And they've proposed building an arena to house one or both.
We could be wrong, but either way, look for the NHL to make an announcement at some point. Our guess would be maybe after the 1st of the year, but we could be wrong too.
It appears the National Hockey League is ready to grow.
And like the early U.S pioneers, they are working under the credo "Go West Young Man".
How else to explain the report that the league is looking two teams for their Western Conference.
And the reason this is newsworthy? Well, one of those teams may very well be the 1st pro sports team to base in the gambling capital of North America, Las Vegas.
The New York Post reports the NHL has already chosen owners for the Vegas franchise, billionaire William Foley and Vegas mobsters-hoteliers/former NBA owners, the Maloof family.
Oh, wait, did we just say that?
The team would play in the new 20,000+ seat arena being built on or near the MGM Resort and be admitted with a roughly $400 million expansion fee.
Read more from the Post RIGHT HERE
The story doesn't mention another franchise location, but the reason the league would need 2--to balance things with the Eastern Conference which has two more teams.
Our bet: Seattle. The league and the NBA have already flirted with Chris Hansen and others looking to bring the NBA and/or the NHL to Seattle. And they've proposed building an arena to house one or both.
We could be wrong, but either way, look for the NHL to make an announcement at some point. Our guess would be maybe after the 1st of the year, but we could be wrong too.
Tuesday, May 28, 2013
DEVELOPING: NBA Approves Kings Sale To SacTown Group
Ending a few years, really, of speculation the NBA Board of Governors has approved the sale of the Sacramento Kings from the Maloof brothers to the Sacramento-based group led by Vivek Ranadive and other civic leaders.
Ranadive will now have to officially divest himself of his interest in the Golden State Warriors. The Maloof family paid $156 million in 1998 for the majority stake and Ranadive will pay around $200-million in cash. The Ranadive group will also assume the Kings' debts to the NBA and the city of Sacramento. That adds up to $347-million...
Forbes Magazine has valued the team at $535 million and they'll move into an 18,500-seat arena complex set to cost $448-million. Ranadive's group pays $190-million of that and the city will pay the rest.
Here was the Kings rally once everything was almost set in place...
((HT: news10.net))
Ranadive will now have to officially divest himself of his interest in the Golden State Warriors. The Maloof family paid $156 million in 1998 for the majority stake and Ranadive will pay around $200-million in cash. The Ranadive group will also assume the Kings' debts to the NBA and the city of Sacramento. That adds up to $347-million...
Forbes Magazine has valued the team at $535 million and they'll move into an 18,500-seat arena complex set to cost $448-million. Ranadive's group pays $190-million of that and the city will pay the rest.
Here was the Kings rally once everything was almost set in place...
((HT: news10.net))
Friday, May 17, 2013
DEVELOPING: Maloofs Sell Kings To SacTown Group, Announcement Friday
((HT: Chris Daniels/KING5))
From Daniels and his twitter feed...
Two sources now confirming sale of #NBAKings by Maloofs to @Vivek group.
And all this a day after George Maloof said he was under no pressure to sell the Sacramento Kings franchise to the Ranadive-led group, and at the same time, Sacramento Mayor Kevin Johnson was under the impression that the two groups would be negotiating a sale over a 24-to-48 hour period...
Looks like they were...
RT @sam_amick: NBA Commissioner David Stern says on Kings: "Yes, I think, I think the agreement was signed today..."
All this as Seattle fans hold the outgoing commish responsible for their not getting the Kings this time around...
Amick reports the value of the sale at the US$535-million figure. Mayor KJ tweeted: "The ownership group, the city, and the community have shown the NBA, without any shred of doubt, that the Sacramento Kings belong in Sac"
The NBA is expected to officially approve the agreement next week. The agreement has to be closed by May 31. The official announcement and details of the deal are expected Friday.
From Daniels and his twitter feed...
Two sources now confirming sale of #NBAKings by Maloofs to @Vivek group.
And all this a day after George Maloof said he was under no pressure to sell the Sacramento Kings franchise to the Ranadive-led group, and at the same time, Sacramento Mayor Kevin Johnson was under the impression that the two groups would be negotiating a sale over a 24-to-48 hour period...
Looks like they were...
RT @sam_amick: NBA Commissioner David Stern says on Kings: "Yes, I think, I think the agreement was signed today..."
All this as Seattle fans hold the outgoing commish responsible for their not getting the Kings this time around...
Amick reports the value of the sale at the US$535-million figure. Mayor KJ tweeted: "The ownership group, the city, and the community have shown the NBA, without any shred of doubt, that the Sacramento Kings belong in Sac"
The NBA is expected to officially approve the agreement next week. The agreement has to be closed by May 31. The official announcement and details of the deal are expected Friday.
Wednesday, May 15, 2013
Kings Stay In SacTown, Now What...???
((HT: KING-TV))
Well, if you're Kevin Calabro, the former voice of the Seattle SuperSonics, you think that the town will get a team back by the time the new television contract comes around...
“The Sonics will be coming back, I believe, as an expansion team and I think it will be coming back when the new TV contract is in full swing, which will be the ’15-’16 season,” he said. “It would fall in line with the framework of the MOU, so I’m optimistic.”
Chris Hansen's memorandum of understanding runs for five years... and the vote for moving was 22-8, which included Portland owner Paul Allen in the affirmative...
And, oh... the whole selling to SacTown thing...???
"There is no pressure on us... zero,” George Maloof said.
Here's KING-TV's early returns...
Chris Hansen said on his SonicsArena.com website, obviously, was disappointed, but he's not done:
While we are obviously extremely disappointed with today's relocation vote and truly believe we put forth both a significantly better offer and Arena plan, we do thank the league and the owners for their time and consideration and look forward to hearing back on our agreement to join the Maloofs as Limited Partners in the Kings.
But most of all I would like to thank everyone in Seattle who has been a part of our effort and supported our cause. Words simply can't express how much your support has meant to me personally and to our City. I truly believe we did everything possible to put our best foot forward in this process and you all should be proud and hold your heads high today.
Our day will come...and when it does it will just be that much sweeter for the struggle.
I love you Seattle!
And the SacTown version...
((HT: News10.net))
Mayor KJ says that negotiations will start in earnest around the clock. He thinks a deal could be done in the next two or three days- despite what George Maloof maintains above... Remember, the fans aren't big on the "backdoor" plan that the family had with the Hansen-Ballmer group...
So, we'll see just what direction this goes...
The HQ knows we're far from done...
Well, if you're Kevin Calabro, the former voice of the Seattle SuperSonics, you think that the town will get a team back by the time the new television contract comes around...
“The Sonics will be coming back, I believe, as an expansion team and I think it will be coming back when the new TV contract is in full swing, which will be the ’15-’16 season,” he said. “It would fall in line with the framework of the MOU, so I’m optimistic.”
Chris Hansen's memorandum of understanding runs for five years... and the vote for moving was 22-8, which included Portland owner Paul Allen in the affirmative...
And, oh... the whole selling to SacTown thing...???
"There is no pressure on us... zero,” George Maloof said.
Here's KING-TV's early returns...
Chris Hansen said on his SonicsArena.com website, obviously, was disappointed, but he's not done:
While we are obviously extremely disappointed with today's relocation vote and truly believe we put forth both a significantly better offer and Arena plan, we do thank the league and the owners for their time and consideration and look forward to hearing back on our agreement to join the Maloofs as Limited Partners in the Kings.
But most of all I would like to thank everyone in Seattle who has been a part of our effort and supported our cause. Words simply can't express how much your support has meant to me personally and to our City. I truly believe we did everything possible to put our best foot forward in this process and you all should be proud and hold your heads high today.
Our day will come...and when it does it will just be that much sweeter for the struggle.
I love you Seattle!
And the SacTown version...
((HT: News10.net))
Mayor KJ says that negotiations will start in earnest around the clock. He thinks a deal could be done in the next two or three days- despite what George Maloof maintains above... Remember, the fans aren't big on the "backdoor" plan that the family had with the Hansen-Ballmer group...
So, we'll see just what direction this goes...
The HQ knows we're far from done...
And The Winner Is...Sacramento...Kings Are Staying...
((HT: News10.net/USAToday Sports))
After voting and going behind closed doors at the Hilton Anatole hotel in Dallas, the NBA relocation committee and owners have decided to stay in town with the future with the Sacramento Kings, according to USA Today Sports and their Twitter. The more interesting reaction will be from the Hansen-Ballmer group now as the league and its members move forward.
Will they pack up or will they stay in the fight to bring another team/expansion franchise to the Hansen-Ballmer project...???
There were some other ideas on the table going into their closed door sessions after 4:00 eastern time. Outgoing commissioner David Stern was animated in some talks, even removing his jacket while talking things out with Dallas Mavericks owner Mark Cuban, Lakers owner Jeanie Buss, and Wyc Grousbeck of the Boston Celtics in the hall outside the conference room assigned to the league.
Last week, the board's relocation committee voted unanimously, 7-0, to recommend not to approve the relocation of the SacKings to Seattle. The board of governors is expected to vote along the committee's recommendation. And the owners themselves need only a majority to keep the SacKings in town...
The vote for ownership changing is 60-percent approval...
Here's the early morning ideas from Sacramento...
On Tuesday, current owner George Maloof claimed if a minority share of the team was sold to the Chris Hansen-Steve Ballmer group in Seattle, the new partners would work in good faith to try to build a new arena in Sacramento. But, at the same time, a lot of people thought that idea was only a backdoor approach to get a team in Seattle. Hansen-Ballmer would, then, leverage their dollars and be in place if and when the current Sacramento arena idea/talks would not come to fruition. Maloof said Tuesday he has only met prospective SacKings Lead owner Vivek Ranadive once, and still hasn't talked to Sacramento ownership group that Mayor Kevin Johnson has assembled. "If it's only a matter of a few million, that's one thing," Maloof said to News 10. "But if the offers are far apart, it's a different story." Perhaps, that's another reason that Hansen-Ballmer raised their kitty as high as they did and put the whole amount in escrow immediately to show the NBA that they were serious- regardless of dollar figure. But there is a prevailing thought that the lack of interaction between the Hansen-Ballmer group and the league itself is a negative while the city of Sacramento has kept everyone abreast of the situation WITH league interaction... And the HQ knows just how much the league likes to have people jump through their hoops and not go rogue... More when we know more... 1800 UPDATE: Sources, including one owner, are telling the Sacramento Bee's Ailene Voisin and the Seattle Times Bob Condotta
After voting and going behind closed doors at the Hilton Anatole hotel in Dallas, the NBA relocation committee and owners have decided to stay in town with the future with the Sacramento Kings, according to USA Today Sports and their Twitter. The more interesting reaction will be from the Hansen-Ballmer group now as the league and its members move forward.
Will they pack up or will they stay in the fight to bring another team/expansion franchise to the Hansen-Ballmer project...???
There were some other ideas on the table going into their closed door sessions after 4:00 eastern time. Outgoing commissioner David Stern was animated in some talks, even removing his jacket while talking things out with Dallas Mavericks owner Mark Cuban, Lakers owner Jeanie Buss, and Wyc Grousbeck of the Boston Celtics in the hall outside the conference room assigned to the league.
Last week, the board's relocation committee voted unanimously, 7-0, to recommend not to approve the relocation of the SacKings to Seattle. The board of governors is expected to vote along the committee's recommendation. And the owners themselves need only a majority to keep the SacKings in town...
The vote for ownership changing is 60-percent approval...
Here's the early morning ideas from Sacramento...
On Tuesday, current owner George Maloof claimed if a minority share of the team was sold to the Chris Hansen-Steve Ballmer group in Seattle, the new partners would work in good faith to try to build a new arena in Sacramento. But, at the same time, a lot of people thought that idea was only a backdoor approach to get a team in Seattle. Hansen-Ballmer would, then, leverage their dollars and be in place if and when the current Sacramento arena idea/talks would not come to fruition. Maloof said Tuesday he has only met prospective SacKings Lead owner Vivek Ranadive once, and still hasn't talked to Sacramento ownership group that Mayor Kevin Johnson has assembled. "If it's only a matter of a few million, that's one thing," Maloof said to News 10. "But if the offers are far apart, it's a different story." Perhaps, that's another reason that Hansen-Ballmer raised their kitty as high as they did and put the whole amount in escrow immediately to show the NBA that they were serious- regardless of dollar figure. But there is a prevailing thought that the lack of interaction between the Hansen-Ballmer group and the league itself is a negative while the city of Sacramento has kept everyone abreast of the situation WITH league interaction... And the HQ knows just how much the league likes to have people jump through their hoops and not go rogue... More when we know more... 1800 UPDATE: Sources, including one owner, are telling the Sacramento Bee's Ailene Voisin and the Seattle Times Bob Condotta
Saturday, May 11, 2013
Report: Kings to Seattle Move: Maloofs Have Plan B
((ht: espn.com))The seemingly never ending story of the Maloof brothers trying to sell the Sacramento Kings and move them to Seattle keeps continuing with more and more chapters.
In the latest move, ESPN.com reporter Brian Windhorst reports that Joe and Gavin Maloof have a plan B in the event the NBA Board of Governors reject the proposed sale to Seattle financier Chris Hansen and Microsoft mogul Steve Ballmer. If rejected, the Board wants to recommend the team be sold to a group headed by billionaire Vivek Ranadive.
If the league says no, the Maloof's reportedly would sell a minority stake in the team (2-% for $120 million) to Mr's Ballmer and Hansen. And that has the potential for a major mess.
Read the entire ESPN.com story RIGHT HERE
What is fairly obvious here is the Maloof's want to get the Kings out of Sacramento no matter what. But the other nugget in the story is this: The NBA appears to have concerns the Ranadive Group may not have the backing to be sustainable.
The league is trying to bend over backwards to prevent a franchise from relocating and that stance is in many ways admirable. With the reports over the past two days that Hansen and Ballmer continue sweetening the deal and the new nugget that they are will to pay a substantial ($115 million) relocation fee, we could have an issue here.
Windhorst reports the NBA's relocation committee wants to revisit the proposed sale to each party before the Board of Governors vote on it next week. It's beginning to sound a bit like they are having second thoughts. If those thoughts come to fruition, Seattle may eventually end up landing the Kings before this is all said and done.
Though we fully expect several more back and forth stories on it.
Friday, May 10, 2013
And Now Chris Hansen Increases His Seattle Bid...
Chris Hansen, half of the wanna-be owners of the SacKings moving to Seattle to re-become the SuperSonics, has increased his total bid of the Sacramento Kings from $550 million to $625 million. Hansen also announced on his website, sonicsarena.com, that he has guaranteed other NBA owners that the new Seattle franchise would pay into revenue-sharing instead of taking moneys out.
Hansen hooked up with the Maloof brothers to buy the Sacramento Kings back in January. 65-percent of the team was offered up for US$525-million and the an additional 25 million dollars came across the table.
Now, it's an additional 75-million on top of that...
Hansen said on the website:
While we appreciate that this is a very difficult decision for the league and owners, we hope it is understood that we really believe the time is now to bring the NBA back to Seattle, and that it is paramount that we do everything we can to put Seattle’s best foot forward in this process.
All this ahead of the Wednesday vote to decide relocation... or not...
Here's KING-TV's coverage of the upping of the bid...
The HQ rubs its chin as to why Hansen did all this now...
//somethingtothinkabout
Hansen hooked up with the Maloof brothers to buy the Sacramento Kings back in January. 65-percent of the team was offered up for US$525-million and the an additional 25 million dollars came across the table.
Now, it's an additional 75-million on top of that...
Hansen said on the website:
While we appreciate that this is a very difficult decision for the league and owners, we hope it is understood that we really believe the time is now to bring the NBA back to Seattle, and that it is paramount that we do everything we can to put Seattle’s best foot forward in this process.
All this ahead of the Wednesday vote to decide relocation... or not...
Here's KING-TV's coverage of the upping of the bid...
The HQ rubs its chin as to why Hansen did all this now...
//somethingtothinkabout
Other NBA Owners Confirm Kings May Stay Before Relocation Vote
((HT: News10.net))
Nothing like getting folks to use Twitter to talk these days...
A Seattle fan got into a conversation with Heat Owner Micky Arison over the status of the Kings and their possible-but-not-likely travel plans...
Arison actually admitted he wants a team in Seattle, just not the SacKings...
In other news around the sale to the Ranadive group, "sources" are telling the Sacramento Bee newspaper that the Maloof brothers and the NBA would like to see 100-percent of the purchase price be placed in an escrow account to alleviate any fears that the money coming from the Sacramento-based group and the Qualcomm/Jacobs family.
Ranadive has already placed 50-percent in there and the Hansen/Ballmer group has already placed all of its $357-million purchase price in escrow.
Relocation (or lack thereof) could be decided by the middle of next week in Dallas...
Nothing like getting folks to use Twitter to talk these days...
A Seattle fan got into a conversation with Heat Owner Micky Arison over the status of the Kings and their possible-but-not-likely travel plans...
Arison actually admitted he wants a team in Seattle, just not the SacKings...
In other news around the sale to the Ranadive group, "sources" are telling the Sacramento Bee newspaper that the Maloof brothers and the NBA would like to see 100-percent of the purchase price be placed in an escrow account to alleviate any fears that the money coming from the Sacramento-based group and the Qualcomm/Jacobs family.
Ranadive has already placed 50-percent in there and the Hansen/Ballmer group has already placed all of its $357-million purchase price in escrow.
Relocation (or lack thereof) could be decided by the middle of next week in Dallas...
Tuesday, May 7, 2013
SacTown Group Would Forego Revenue Sharing If Kings Stay
((HT: News10.net))
Here's a twist for you... giving up money to keep a team in town...
That's what Vivek Ranadive, one of the lead owners in the proposed Sacramento Kings group that would keep the team in town, is saying they'll do if the Kings get to stay.
The group will turn down revenue sharing dollars from the larger-market groups in exchange for the team's staying- a huge concession...to the tune of $15-million or more... as much as $18-million this season alone.
The idea currently under discussion is that while the Kings play at their current arena, the new owners would take less and less. But when the team moves into their new arena, the revenue sharing moneys would go away completely.
From the Sacramento Bee article with Dale Kasler and Tony Bizjak: The Ranadive group's refusal to take revenue-sharing money is "a bold position on their part," said Irwin Raij, a sports attorney in New York. He said he isn't aware of a team in any pro sports league that has rejected revenue sharing. "They are without a doubt sending a message to everyone (about) their supreme confidence in the market," said Raij, who served on Sacramento's arena task force in 2009. Larry Coon, a University of California, Irvine, economist and expert on the business of the NBA, said the pledge weakens Hansen and Ballmer's case. "It would directly counter one of the main incentives for having a team in Seattle," he said.
Bold... sure...
Folly...??? Maybe, by the time this whole thing is done...
Construction schedules and environmental impacts are set to be discussed over the summer- so construction can, optimistically, begin...
Here's a twist for you... giving up money to keep a team in town...
That's what Vivek Ranadive, one of the lead owners in the proposed Sacramento Kings group that would keep the team in town, is saying they'll do if the Kings get to stay.
The group will turn down revenue sharing dollars from the larger-market groups in exchange for the team's staying- a huge concession...to the tune of $15-million or more... as much as $18-million this season alone.
The idea currently under discussion is that while the Kings play at their current arena, the new owners would take less and less. But when the team moves into their new arena, the revenue sharing moneys would go away completely.
From the Sacramento Bee article with Dale Kasler and Tony Bizjak: The Ranadive group's refusal to take revenue-sharing money is "a bold position on their part," said Irwin Raij, a sports attorney in New York. He said he isn't aware of a team in any pro sports league that has rejected revenue sharing. "They are without a doubt sending a message to everyone (about) their supreme confidence in the market," said Raij, who served on Sacramento's arena task force in 2009. Larry Coon, a University of California, Irvine, economist and expert on the business of the NBA, said the pledge weakens Hansen and Ballmer's case. "It would directly counter one of the main incentives for having a team in Seattle," he said.
Bold... sure...
Folly...??? Maybe, by the time this whole thing is done...
Construction schedules and environmental impacts are set to be discussed over the summer- so construction can, optimistically, begin...
Monday, April 29, 2013
Chris Hansen Is Pissed... NBA Recommends SacKings Stay
 |
| New Arena Drawing/Ctsy: City of Sacramento |
However, according to an Associated Press report--the decision does not obligate the Maloof brothers, who own the team to sell to Sacramento owners. But it does set some barriers for them to sell to an outside group to move the team out of town. It also essentially ends the bid of Chris Hansen who had made a $550 million offer for a majority stake in the team
Sacramento Mayor Kevin Johnson spearheaded a last ditch effort to find a potential ownership group to buy the team and commit to a new arena in the city. That group is headed by software magnate Vivek Ranadave, a current minority owner of the Golden State Warriors, 24 Hour Fitness founder Mark Mastrov, a former Facebook executive and the family that is the primary stakeholders in Qualcomm.
For their part, the Maloof's have not at this point issued a comment on the decision. As for Mr. Hansen and the Seattle bid, there is no early indication what their options are. At the time this story was written, he's yet to offer comment. The potential does exist for them to sue based on the fact that had an agreement in principal with the Maloof's, it just depends a bit on how binding that agreement is/was, the wording of it and if it's worth pursuing.
It remains to be seen if the financially taxed people in and around Sacramento are able to fully pull this off. But it appears the decision today has paved the way for them to keep their NBA team. To steal a silly cliche', the ball is in their court.
Here's how News 10 hit the decision...
((HT: News10.net))
And here's Seattle mayor Mike McGinn discussing his city's obvious reaction... ((HT: KING5 TV Seattle))
Friday, April 19, 2013
Maloof Brothers Prefer Seattle Bid
((HT: Sacramento Bee))
The Maloof brothers are making it known that, as the NBA Board of Governors and Relocation Committee decides the Sacramento Kings fate, "sources" close to their plight are claiming that they like the Hansen-Ballmer bid better than the Sacramento bid led by Rivek Vanadive and endorsed by mayor Kevin Johnson.
"The Maloofs have a binding agreement with the Seattle group and would prefer that that agreement be approved by the league," a source told some combination of Lilis, Bizjak, and Kasler for this piece.
From the article:
Yet a source close to the situation told The Bee on Wednesday that Sacramento's counteroffer calls on the Maloofs to scrap the Hansen deal before it comes to a vote.
Another possible sticking point is that Sacramento's bid isn't a binding offer, according to this source.
A legal expert, Michael McCann of NBA TV, said it would be difficult for the Sacramento group to submit a binding offer as long as the Maloofs have a contract with Seattle's investors.
"Legally, you can't have two contracts at one time when they have contradictory outcomes," McCann said.
And while the NBA sat in a room and talked it out, the timetable for a decision will be a while...
Here's the commish discussing it...
((HT: News10.net))
The Maloof brothers are making it known that, as the NBA Board of Governors and Relocation Committee decides the Sacramento Kings fate, "sources" close to their plight are claiming that they like the Hansen-Ballmer bid better than the Sacramento bid led by Rivek Vanadive and endorsed by mayor Kevin Johnson.
"The Maloofs have a binding agreement with the Seattle group and would prefer that that agreement be approved by the league," a source told some combination of Lilis, Bizjak, and Kasler for this piece.
From the article:
Yet a source close to the situation told The Bee on Wednesday that Sacramento's counteroffer calls on the Maloofs to scrap the Hansen deal before it comes to a vote.
Another possible sticking point is that Sacramento's bid isn't a binding offer, according to this source.
A legal expert, Michael McCann of NBA TV, said it would be difficult for the Sacramento group to submit a binding offer as long as the Maloofs have a contract with Seattle's investors.
"Legally, you can't have two contracts at one time when they have contradictory outcomes," McCann said.
And while the NBA sat in a room and talked it out, the timetable for a decision will be a while...
Here's the commish discussing it...
((HT: News10.net))
Thursday, April 18, 2013
DEVELOPING: SacKings Decision A Few Weeks Out
((HT: News10.net))
They're in New York City awaiting the decision of the Relocation Committee to figure out whether or not the Sacramento Kings are staying or moving to Seattle...
Here's proof...
Sports Business Daily is reporting that the NBA has asked the Sacramento group to reimburse the Seattle group for their $30 million nonrefundable deposit if the Relocation Committee votes in favor of the home town group. The 5PM Friday deadline set by the Maloof family was now, according to USA Today, "deliberately missed" by the Sacramento group. And the Sacramento group also will not put in a bid for Bob Cook's 7-percent minority stake that is currently held up in bankruptcy proceedings. The Hansen-Ballmer group put in a bid for those shares that could raise their stake to 72-percent of the Kings assets.
They're in New York City awaiting the decision of the Relocation Committee to figure out whether or not the Sacramento Kings are staying or moving to Seattle...
Here's proof...
Sports Business Daily is reporting that the NBA has asked the Sacramento group to reimburse the Seattle group for their $30 million nonrefundable deposit if the Relocation Committee votes in favor of the home town group. The 5PM Friday deadline set by the Maloof family was now, according to USA Today, "deliberately missed" by the Sacramento group. And the Sacramento group also will not put in a bid for Bob Cook's 7-percent minority stake that is currently held up in bankruptcy proceedings. The Hansen-Ballmer group put in a bid for those shares that could raise their stake to 72-percent of the Kings assets.
Saturday, April 13, 2013
Maloofs Chasing Hockey And Baseball...And Are OK With Kings In SacTown
((HT: Sacramento Bee/Voisin))
It's no secret that the Maloofs want to get rid of the Sacramento Kings...
But Ailene Voisin's column has a few interesting elements in it:
1) They're cool with the Kings staying if the local bid matches... BUT... from her article...
"We're giving Sacramento every opportunity to keep the team," one source said Thursday, "but they keep blowing every deadline. We haven't seen anything in writing."
2) The ins and outs of the ownership group, specifically Ron Burkle's exit, caused the Maloofs to lay out the 5PM Friday deadline for a matching bid from the city. Burkle had been in a bid before with Larry Ellison, but got turned down. Ellison wanted to move the team to San Jose. Ellison moved on to the Warriors...
3) The Maloofs want to pursue a team in either Major League Baseball or the NHL. Voisin says that the Maloofs have had conversations with NHL commish Gary Bettman about having a team in Las Vegas.
PM UPDATE: On the "Satellite Hotstove" segment this evening on CBC's "Hockey Night in Canada," FOSG Elliotte Friedman refutes that thought to a degree. Friedge says the talks haven't been for five years... the ECHL Wranglers currently play in the Orleans Arena, which seats maybe 8,000 on a good day. An arena would have to be built to meet NHL specs- perhaps the Maloofs have a place in mind...
And former Facebook CFO Chris Kelly is in the group to keep the Kings in town as well...
((HT: News 10))
It's no secret that the Maloofs want to get rid of the Sacramento Kings...
But Ailene Voisin's column has a few interesting elements in it:
1) They're cool with the Kings staying if the local bid matches... BUT... from her article...
"We're giving Sacramento every opportunity to keep the team," one source said Thursday, "but they keep blowing every deadline. We haven't seen anything in writing."
2) The ins and outs of the ownership group, specifically Ron Burkle's exit, caused the Maloofs to lay out the 5PM Friday deadline for a matching bid from the city. Burkle had been in a bid before with Larry Ellison, but got turned down. Ellison wanted to move the team to San Jose. Ellison moved on to the Warriors...
3) The Maloofs want to pursue a team in either Major League Baseball or the NHL. Voisin says that the Maloofs have had conversations with NHL commish Gary Bettman about having a team in Las Vegas.
PM UPDATE: On the "Satellite Hotstove" segment this evening on CBC's "Hockey Night in Canada," FOSG Elliotte Friedman refutes that thought to a degree. Friedge says the talks haven't been for five years... the ECHL Wranglers currently play in the Orleans Arena, which seats maybe 8,000 on a good day. An arena would have to be built to meet NHL specs- perhaps the Maloofs have a place in mind...
And former Facebook CFO Chris Kelly is in the group to keep the Kings in town as well...
((HT: News 10))
Seattle Raises Kings Purchase Price By $25M, Last Lawsuit Dismissed
And the poker continues...
With the Hansen/Ballmer group, seemingly, not flinching over the idea of wanting to bring pro hoops back to Seattle...
Hansen has announced the decision to raise their wanting price to $550-million. In a statement on his website, Sonicsarena.com, Hansen says the group raised the purchase price as a "sign of our commitment to bring basketball back to our city."
Paragraph Two sayeth quote:
While we already have a binding purchase agreement to purchase the controlling interest in the team, the Seattle Ownership Group has elected to voluntarily raise its purchase price as a sign of our commitment to bring basketball back to our City and our high degree of confidence in our Arena plan, our financing plan, the economic strength of the Seattle market, individual and corporate support for the team and, most importantly, the future of the NBA.
Translation: We think we can outspend the city of Sacramento to bring basketball back to Seattle...
Hansen's group has an agreement with the Maloof family dating back to January. The city of Sacramento, and Mayor Kevin Johnson, have come to the table more than once trying to put together a group that would keep the Kings at their current home- trying to match the Seattle group and Maloof's asking price.
The NBA Board of Governors meets next week to vote on a sale and possible relocation.
The Maloofs had given the city of Sacramento by the end of business Friday to come up with a binding piece of paper to say they're serious in keeping the team in town. Until then, the city had given the Maloofs their word on their desires...
The HQ thinks the refiling by Hansen had nothing to do with the deadline...
Hashtag sarcasm...
Meanwhile, a Seattle judge has dismissed the last stumbling block to getting the new intown arena built...
Here's Chris Daniels...
((HT: KING-TV))
With the Hansen/Ballmer group, seemingly, not flinching over the idea of wanting to bring pro hoops back to Seattle...
Hansen has announced the decision to raise their wanting price to $550-million. In a statement on his website, Sonicsarena.com, Hansen says the group raised the purchase price as a "sign of our commitment to bring basketball back to our city."
Paragraph Two sayeth quote:
While we already have a binding purchase agreement to purchase the controlling interest in the team, the Seattle Ownership Group has elected to voluntarily raise its purchase price as a sign of our commitment to bring basketball back to our City and our high degree of confidence in our Arena plan, our financing plan, the economic strength of the Seattle market, individual and corporate support for the team and, most importantly, the future of the NBA.
Translation: We think we can outspend the city of Sacramento to bring basketball back to Seattle...
Hansen's group has an agreement with the Maloof family dating back to January. The city of Sacramento, and Mayor Kevin Johnson, have come to the table more than once trying to put together a group that would keep the Kings at their current home- trying to match the Seattle group and Maloof's asking price.
The NBA Board of Governors meets next week to vote on a sale and possible relocation.
The Maloofs had given the city of Sacramento by the end of business Friday to come up with a binding piece of paper to say they're serious in keeping the team in town. Until then, the city had given the Maloofs their word on their desires...
The HQ thinks the refiling by Hansen had nothing to do with the deadline...
Hashtag sarcasm...
Meanwhile, a Seattle judge has dismissed the last stumbling block to getting the new intown arena built...
Here's Chris Daniels...
((HT: KING-TV))
Wednesday, April 10, 2013
DEVELOPING: Maloofs Set Friday Deadline For SacTown Bid
((HT: News 10))
According to News 10 in Sacramento, the Maloof brothers/family has given their deadline to the city of Sacramento for something in writing for the bid to keep the NBA Kings in town. To this point, the pledges have been just that... and the city has until close of business Friday to give the Maloofs the paperwork with a written offer.
The group that wants to move the team to Seattle- the Hansen/Ballmer group- has offered the Maloofs $525 million for their 65 percent stake in the team. There is also a bid for a 7-percent stake in one of the minority owner's shares that is currently held in bankruptcy proceedings...
Here was the Seattle point of view when Ron Burkle pulled out- much to the meh of Mayor Kevin Johnson of Sacramento...
The Sacramento Bee has three reporters on the case: From the Bizjak, Lillis, and Kasler piece... The source told the Bee that if the Maloofs receive a matching offer by Friday, they will consider it as a serious back-up proposal should the NBA nullify their tentative deal with Seattle. If the offer doesn't arrive, or doesn't match the Seattle bid, the Maloofs have said any talks are off with the Sacramento group. The source declined further comment about who issued the ultimatum, when, or why.
According to News 10 in Sacramento, the Maloof brothers/family has given their deadline to the city of Sacramento for something in writing for the bid to keep the NBA Kings in town. To this point, the pledges have been just that... and the city has until close of business Friday to give the Maloofs the paperwork with a written offer.
The group that wants to move the team to Seattle- the Hansen/Ballmer group- has offered the Maloofs $525 million for their 65 percent stake in the team. There is also a bid for a 7-percent stake in one of the minority owner's shares that is currently held in bankruptcy proceedings...
Here was the Seattle point of view when Ron Burkle pulled out- much to the meh of Mayor Kevin Johnson of Sacramento...
The Sacramento Bee has three reporters on the case: From the Bizjak, Lillis, and Kasler piece... The source told the Bee that if the Maloofs receive a matching offer by Friday, they will consider it as a serious back-up proposal should the NBA nullify their tentative deal with Seattle. If the offer doesn't arrive, or doesn't match the Seattle bid, the Maloofs have said any talks are off with the Sacramento group. The source declined further comment about who issued the ultimatum, when, or why.
Tuesday, April 9, 2013
Burkle Out Of Sac Kings Bid, Mayor KJ Not Worried...
((HT: News10.net))
It ends up as a conflict of interest...
Ron Burkle was taking the lead on the $448-million arena development bid to keep the Sacramento Kings in town and not have them moving to Seattle.
But Burkle is part-owner in Relativity Sports, which manages some NBA players' careers...
This means that Vivek Ranadive and Mark Mastrov will now take the lead in the bid. A report last week coming out of San Diego has the Jacobs family (the Qualcomm folks) taking on a more substantial role in the process. Mayor KJ has also said that local developer Mark Friedman, part developer of the new project, is jumping in on the ownership side.
But, as just an FYI, Ranadive would have to divest himself of his stake in the Golden State Warriors if the Sac Kings stay in SacTown...
Here's the rundown on the Burkle removal...and the lack of current concern from Mayor KJ...
It ends up as a conflict of interest...
Ron Burkle was taking the lead on the $448-million arena development bid to keep the Sacramento Kings in town and not have them moving to Seattle.
But Burkle is part-owner in Relativity Sports, which manages some NBA players' careers...
This means that Vivek Ranadive and Mark Mastrov will now take the lead in the bid. A report last week coming out of San Diego has the Jacobs family (the Qualcomm folks) taking on a more substantial role in the process. Mayor KJ has also said that local developer Mark Friedman, part developer of the new project, is jumping in on the ownership side.
But, as just an FYI, Ranadive would have to divest himself of his stake in the Golden State Warriors if the Sac Kings stay in SacTown...
Here's the rundown on the Burkle removal...and the lack of current concern from Mayor KJ...
Wednesday, April 3, 2013
Sacramento And Seattle Square Off For Kings
((HT: News10.net Sacramento))
It's time for the square off in New York City to determine the future of the Sacramento Kings...
Both city groups, the Sacramento Kings led by Mayor KJ, along with the Seattle group of Hansen-Ballmer are getting their time in front of the Commissioner and the Relocation Committee...
Johnson outlined the city's plan to build the new arena complex...
Seattle's group included the mayor and the ownership group...
The Board of Governors meet in two weeks and can block the Maloof's from selling to Hansen-Ballmer. They cannot, however, force them to sell to the Sacramento group. If the NBA blocks the sale to Hansen-Ballmer, the Maloofs can hold onto the Kings, look for another ownership as a buyer, or sell the team to the Sacramento ownership group.
Here's the Sacramento version...
Commissioner David Stern said the stereotypic things he would say: "Both sides made -- in my view -- very, very strong presentations." Stern also intimated that the final decision might not happen at the Board of Governors meeting. However, he did say that expansion is not an option for Seattle. Which means that the number of franchises is solid now and won't change- only locations... And here's Chris Hansen with his optimism... ((HT: KING5 Seattle))
It's time for the square off in New York City to determine the future of the Sacramento Kings...
Both city groups, the Sacramento Kings led by Mayor KJ, along with the Seattle group of Hansen-Ballmer are getting their time in front of the Commissioner and the Relocation Committee...
Johnson outlined the city's plan to build the new arena complex...
Seattle's group included the mayor and the ownership group...
The Board of Governors meet in two weeks and can block the Maloof's from selling to Hansen-Ballmer. They cannot, however, force them to sell to the Sacramento group. If the NBA blocks the sale to Hansen-Ballmer, the Maloofs can hold onto the Kings, look for another ownership as a buyer, or sell the team to the Sacramento ownership group.
Here's the Sacramento version...
Commissioner David Stern said the stereotypic things he would say: "Both sides made -- in my view -- very, very strong presentations." Stern also intimated that the final decision might not happen at the Board of Governors meeting. However, he did say that expansion is not an option for Seattle. Which means that the number of franchises is solid now and won't change- only locations... And here's Chris Hansen with his optimism... ((HT: KING5 Seattle))
Friday, March 1, 2013
It's Official: Sac-Town Makes Local Bid
((HT: News10.net))
So, it is the Mastrov-Burkle angle...
Mayor KJ has brought out some 24-Hour Fitness and the Pittsburgh Penguins owners to try and make the bid of keeping the Sacramento Kings in town as serious as possible.
While it is regarded widely that Mark Mastrov doesn't have the financing to do the team and the arena by himself, Ron Burkle has been tapped to be the guy in charge of the arena in its new incarnation when it's built.
Mastrov and the other 19 individuals who are part of the "Play To Win" campaign sent their counter-offer to the NBA's relocation committee and the Maloof brothers.
"My understanding is it will be a full and competitive bid," Johnson said.
April 18 and 19 are the dates that the NBA owners will vote on Sacramento's and Seattle's offers.
Here's the local angle on the group trying to keep the team in town...
So, it is the Mastrov-Burkle angle...
Mayor KJ has brought out some 24-Hour Fitness and the Pittsburgh Penguins owners to try and make the bid of keeping the Sacramento Kings in town as serious as possible.
While it is regarded widely that Mark Mastrov doesn't have the financing to do the team and the arena by himself, Ron Burkle has been tapped to be the guy in charge of the arena in its new incarnation when it's built.
Mastrov and the other 19 individuals who are part of the "Play To Win" campaign sent their counter-offer to the NBA's relocation committee and the Maloof brothers.
"My understanding is it will be a full and competitive bid," Johnson said.
April 18 and 19 are the dates that the NBA owners will vote on Sacramento's and Seattle's offers.
Here's the local angle on the group trying to keep the team in town...
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