((ht: probasketballtalk.com))
Oh you Vlade Divac. Never change.
The former Los Angeles Lakers and Sacramento Kings center was a guest at Tuesday nights Lakers vs. Golden State Warriors game. And at some point he got to be the guest half-court shooter.
Which meant between the end of the third and beginning of the 4th quarter Divac was brought out onto the court where he promptly drained the runner from the center circle at half court.
Divac gave the crowd a golf wave, smiled and walked away with $90,000 which he immediately donated to his favorite charity.
Oh...we should add the lowly Lakers pulled out an upset win over the Warriors minus Laker star Kobe Bryant....
Boom!
Showing posts with label Sacramento Kings. Show all posts
Showing posts with label Sacramento Kings. Show all posts
Wednesday, December 24, 2014
Friday, November 14, 2014
Morning Wrap: Grizzlies Beat Kings With Crazy Finish
((ht: nba.com))
The great thing about sports is sometimes you see games end in ways you've never seen before. Last nights Sacramento Kings-Memphis Grizzlies game in Memphis is a perfect example of it.
The Kings had dominated Memphis for most of the night, leading by as much as 26 in the 1st half.
But the Grizz chipped away, trying to hold their 17 game home winning streak in tact. And on the heels of Mike Conley's 3-pointer with 10 seconds left, they took a 109-108 lead.
But the Kings weren't done. DeMarcus Cousins got fouled driving to the basket and hits the two free throws, giving Sacramento a 110-109 lead.
And with 0.3 seconds left on the clock, Grizzlies forward Vince Carter throws the ball in to a wide open Courtney Lee who grabs the ball and banks it in all in one motion as the buzzer sounds.
Grizzlies win...game over.
Your highlights from NBA.com:
The great thing about sports is sometimes you see games end in ways you've never seen before. Last nights Sacramento Kings-Memphis Grizzlies game in Memphis is a perfect example of it.
The Kings had dominated Memphis for most of the night, leading by as much as 26 in the 1st half.
But the Grizz chipped away, trying to hold their 17 game home winning streak in tact. And on the heels of Mike Conley's 3-pointer with 10 seconds left, they took a 109-108 lead.
But the Kings weren't done. DeMarcus Cousins got fouled driving to the basket and hits the two free throws, giving Sacramento a 110-109 lead.
And with 0.3 seconds left on the clock, Grizzlies forward Vince Carter throws the ball in to a wide open Courtney Lee who grabs the ball and banks it in all in one motion as the buzzer sounds.
Grizzlies win...game over.
Your highlights from NBA.com:
Tuesday, February 4, 2014
Your Late Night Outburst Not Safe For Live TV
((HT: CSN California))
It was a long night for the Chicago Bulls in their 29-point loss to the Sacramento Kings last night as they got run over at Sleep Train Arena...
But, it wasn't as quite a long evening for Joakim Noah as he grew more and more disenchanted with the officiating...
See, he didn't make it to the end...
But, he did make an apology later after the game...
So, there's that then... and all is okay...
It was a long night for the Chicago Bulls in their 29-point loss to the Sacramento Kings last night as they got run over at Sleep Train Arena...
But, it wasn't as quite a long evening for Joakim Noah as he grew more and more disenchanted with the officiating...
See, he didn't make it to the end...
But, he did make an apology later after the game...
So, there's that then... and all is okay...
Wednesday, January 29, 2014
SacKings Look Serious With New Arena Drawings
((HT: News10.net))
You gotta give the folks in Sacramento credit...
With the team staying in town (for now, anyway), the team has released their ideas for the new arena project and what it is hoping to look like in downtown...
Like this...
"When we bought the Sacramento Kings, we committed to the NBA and to the people of Sacramento that we wouldn't just build a new arena, but that we'd build a world-class entertainment venue, an arena truly for the 21st century," Kings owner Vivek Ranadive said in the press release that the HQ expected. "Today is another major step forward in that effort." The project is looking at a pricetag of (close to) $450-million with subsidies of, about, 55-percent of the cost... Here's the slo-mo rotating of the anticipated fanciness... ((HT: Sacramento Kings))
You gotta give the folks in Sacramento credit...
With the team staying in town (for now, anyway), the team has released their ideas for the new arena project and what it is hoping to look like in downtown...
Like this...
"When we bought the Sacramento Kings, we committed to the NBA and to the people of Sacramento that we wouldn't just build a new arena, but that we'd build a world-class entertainment venue, an arena truly for the 21st century," Kings owner Vivek Ranadive said in the press release that the HQ expected. "Today is another major step forward in that effort." The project is looking at a pricetag of (close to) $450-million with subsidies of, about, 55-percent of the cost... Here's the slo-mo rotating of the anticipated fanciness... ((HT: Sacramento Kings))
Saturday, December 14, 2013
Jimmer Fredette Plays Pickup Game With Neighborhood Kids
((ht: news10.net))
Ok, if you are an elementary school age kid, this would have to have been pretty cool.
A couple of Sacramento area kids playing hoops in their driveway this past week decided they need someone else to round out their game.
So they did what any kid would do, go down the street and see if one of the neighbors would come play.
Only that neighbor was Sacramento Kings guard Jimmer Fredette. Fredette, who happened to be home at the time, decided it sounded like fun.
Game on---
News 10 in Sacramento has more:
Ok, if you are an elementary school age kid, this would have to have been pretty cool.
A couple of Sacramento area kids playing hoops in their driveway this past week decided they need someone else to round out their game.
So they did what any kid would do, go down the street and see if one of the neighbors would come play.
Only that neighbor was Sacramento Kings guard Jimmer Fredette. Fredette, who happened to be home at the time, decided it sounded like fun.
Game on---
News 10 in Sacramento has more:
Thursday, November 7, 2013
Dennis Schroeder Says Hello To DeMarcus Cousins
((HT: NBA))
And gets a one-game suspension for it...
That wasn't very nice...
Schroeder serves his suspension tonight when the Hawks play Denver...
And gets a one-game suspension for it...
That wasn't very nice...
Schroeder serves his suspension tonight when the Hawks play Denver...
Friday, August 16, 2013
Hansen: "I Made A Mistake I Regret"- Found Out As Big Anti-SacTown Donor
((HT: KING-TV))
When it came down to it and the Seattle Arena group was vying for the Sacramento Kings hot and heavy, suggested Seattle arena owner Chris Hansen did a bad, bad thing...
Here's his statement in full: "When our binding agreement to purchase the Sacramento Kings became a competitive situation and we were faced with both the prospect of seeing our transaction fail and losing our $30 million deposit, I engaged Loeb & Loeb to canvas the various opposition groups to gain an understanding of their efforts and the prospects of their success. During this time I was approached through Loeb by the opposition about making a contribution to the opposition’s efforts as part of a broader group and agreed to make a donation.
In this regard I would just like to highlight that I have never directly engaged with or even had any conversations or contact with STOP, Taxpayers For Safer Neighborhoods, or any the various consultants engaged in the Sacramento Arena opposition. It was also not my intent to be the primary financial sponsor of the opposition’s efforts. I merely agreed to make a donation to the opposition in what had become a competitive and heated process. I have not agreed to provide any further political contributions and do not intend to make any further contributions.
I would also just point out that the contribution was made in my personal capacity and not on behalf of our ownership group or my partners. In fact, I have never discussed the contribution with them to date. While I'm sure everyone can appreciate how easy it is to get caught up the heat of battle, with the benefit of hindsight, this is clearly a decision I regret. I wish the city of Sacramento and Kings fans the best in their efforts and they have my commitment not to have any involvement in their arena efforts in the future."
Miletich and Brunner from the Seattle Times are investigating what this means... and it's not that good... He could face a fine of $100,000 from the state of California since the move wasn't divulged by the end of the last fiscal year.
And the move doesn't sit well with the local unions that are opposed to the Hansen plan for his new arena... From the Seattle Times article: An attorney for the Seattle Longshore Worker’s Union, which opposes the Sodo location for a new area, called on Seattle and King County officials on Friday to terminate their relationship with Hansen. “This shows the true Chris Hansen. He’s attempting to sabotage a publicly funded arena in Sacramento while at the same time asking Seattle and King County to provide $200 million for an arena here,” said Peter Goldman, who represents the International Longshore and Warehouse Union Local 19. The union is suing to block an agreement between Hansen, the city and county to build a new sports venue in the stadium district south of downtown.
The folks in Sacramento are less than pleased... ((HT: News10.net))
So, Chris Hansen may have gone from white knight in Seattle to black hat in two cities with one six-figure donation...
And that won't sit well with the commissioners of both leagues he's trying to court...
When it came down to it and the Seattle Arena group was vying for the Sacramento Kings hot and heavy, suggested Seattle arena owner Chris Hansen did a bad, bad thing...
Here's his statement in full: "When our binding agreement to purchase the Sacramento Kings became a competitive situation and we were faced with both the prospect of seeing our transaction fail and losing our $30 million deposit, I engaged Loeb & Loeb to canvas the various opposition groups to gain an understanding of their efforts and the prospects of their success. During this time I was approached through Loeb by the opposition about making a contribution to the opposition’s efforts as part of a broader group and agreed to make a donation.
In this regard I would just like to highlight that I have never directly engaged with or even had any conversations or contact with STOP, Taxpayers For Safer Neighborhoods, or any the various consultants engaged in the Sacramento Arena opposition. It was also not my intent to be the primary financial sponsor of the opposition’s efforts. I merely agreed to make a donation to the opposition in what had become a competitive and heated process. I have not agreed to provide any further political contributions and do not intend to make any further contributions.
I would also just point out that the contribution was made in my personal capacity and not on behalf of our ownership group or my partners. In fact, I have never discussed the contribution with them to date. While I'm sure everyone can appreciate how easy it is to get caught up the heat of battle, with the benefit of hindsight, this is clearly a decision I regret. I wish the city of Sacramento and Kings fans the best in their efforts and they have my commitment not to have any involvement in their arena efforts in the future."
Miletich and Brunner from the Seattle Times are investigating what this means... and it's not that good... He could face a fine of $100,000 from the state of California since the move wasn't divulged by the end of the last fiscal year.
And the move doesn't sit well with the local unions that are opposed to the Hansen plan for his new arena... From the Seattle Times article: An attorney for the Seattle Longshore Worker’s Union, which opposes the Sodo location for a new area, called on Seattle and King County officials on Friday to terminate their relationship with Hansen. “This shows the true Chris Hansen. He’s attempting to sabotage a publicly funded arena in Sacramento while at the same time asking Seattle and King County to provide $200 million for an arena here,” said Peter Goldman, who represents the International Longshore and Warehouse Union Local 19. The union is suing to block an agreement between Hansen, the city and county to build a new sports venue in the stadium district south of downtown.
The folks in Sacramento are less than pleased... ((HT: News10.net))
So, Chris Hansen may have gone from white knight in Seattle to black hat in two cities with one six-figure donation...
And that won't sit well with the commissioners of both leagues he's trying to court...
Tuesday, May 28, 2013
Chris Hansen Speaks
((HT: KING-TV))
Chris Daniels has been chasing the Sacramento Kings saga all over the country for KING-TV in Seattle and was front and center as the city got turned down again for the return of the NBA to the city.
He is the first to sit down with the would-have-been owner of the Seattle Supersonics v2.0
The HQ is fairly confident that the team will get a franchise when the new television deal comes up for negotiation in a few years time. All Hansen/Ballmer has to do is play nice and bide their time.
The new arena will have a tenant- just on the NBA's timetable...
Not Chris Hansen's...
Chris Daniels has been chasing the Sacramento Kings saga all over the country for KING-TV in Seattle and was front and center as the city got turned down again for the return of the NBA to the city.
He is the first to sit down with the would-have-been owner of the Seattle Supersonics v2.0
The HQ is fairly confident that the team will get a franchise when the new television deal comes up for negotiation in a few years time. All Hansen/Ballmer has to do is play nice and bide their time.
The new arena will have a tenant- just on the NBA's timetable...
Not Chris Hansen's...
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...
Tuesday, April 30, 2013
DEVELOPING: Chris Hansen Comments, Not Giving Up...
((HT: Sonicsarena.com))
The morning after for some gives them the chance to bask in the glow of what happened the night before- and for others, it gives them the chance to do the walk of shame...
Chris Hansen, the man who wants to spearhead the return of basketball (and other sports) to Seattle came out with this statement last night after the NBA Relocation Committee recommended the SacKings stay the SacKings...
While we are disappointed with the relocation committee’s recommendation, we just wanted to let you all know that we remain fully committed to seeing this transaction through. As you are all well aware, we have a binding transaction to purchase the Kings for what would be a record price for an NBA franchise, have one of the best ownership groups ever assembled to purchase a professional sports team in the US, have clearly demonstrated that we have a much more solid Arena plan, have offered a much higher price than the yet to be finalized Sacramento Group, and have placed all of the funds to close the transaction into escrow. As such, we plan to unequivocally state our case for both relocation and our plan to move forward with the transaction to the league and owners at the upcoming Board of Governor’s Meeting in Mid-May.
When we started this process everyone thought it was impossible. While this represents yet another obstacle to achieving our goal, I just wanted to reassure all of you that we have numerous options at our disposal and have absolutely no plans to give up. Impossible is nothing but a state of mind.
Reaction in SacTown was what was expected:
"It is not over yet," Mayor KJ told everyone in Sacramento last night. "I feel like we have won a round in the playoffs. … There is still work to be done. We do not want to dance in the end zone."
Commissioner David Stern told NBA TV at the Hawks-Pacers game last night that he was surprised the vote was unanimous, but also said, "They decided as strong as the Seattle bid was, and it was very strong, there's some benefit that should be given to a city that has supported us for so long and has stepped up to contribute to build a new building as well."
Here's KIRO-TV's coverage:
The board will convene during the week of May 13th to vote on whether the team should move.
The Seattle group needs 23 of 30 owners' votes to get control of the team. The league could respond then, or more likely, they'll delay the decision even further.
The morning after for some gives them the chance to bask in the glow of what happened the night before- and for others, it gives them the chance to do the walk of shame...
Chris Hansen, the man who wants to spearhead the return of basketball (and other sports) to Seattle came out with this statement last night after the NBA Relocation Committee recommended the SacKings stay the SacKings...
While we are disappointed with the relocation committee’s recommendation, we just wanted to let you all know that we remain fully committed to seeing this transaction through. As you are all well aware, we have a binding transaction to purchase the Kings for what would be a record price for an NBA franchise, have one of the best ownership groups ever assembled to purchase a professional sports team in the US, have clearly demonstrated that we have a much more solid Arena plan, have offered a much higher price than the yet to be finalized Sacramento Group, and have placed all of the funds to close the transaction into escrow. As such, we plan to unequivocally state our case for both relocation and our plan to move forward with the transaction to the league and owners at the upcoming Board of Governor’s Meeting in Mid-May.
When we started this process everyone thought it was impossible. While this represents yet another obstacle to achieving our goal, I just wanted to reassure all of you that we have numerous options at our disposal and have absolutely no plans to give up. Impossible is nothing but a state of mind.
Reaction in SacTown was what was expected:
"It is not over yet," Mayor KJ told everyone in Sacramento last night. "I feel like we have won a round in the playoffs. … There is still work to be done. We do not want to dance in the end zone."
Commissioner David Stern told NBA TV at the Hawks-Pacers game last night that he was surprised the vote was unanimous, but also said, "They decided as strong as the Seattle bid was, and it was very strong, there's some benefit that should be given to a city that has supported us for so long and has stepped up to contribute to build a new building as well."
Here's KIRO-TV's coverage:
The board will convene during the week of May 13th to vote on whether the team should move.
The Seattle group needs 23 of 30 owners' votes to get control of the team. The league could respond then, or more likely, they'll delay the decision even further.
Monday, April 29, 2013
Chris Hansen Is Pissed... NBA Recommends SacKings Stay
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| 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.
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