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))

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...

SacTown Update: Kings Minority Owner Agrees On Sale To Hansen

Bankruptcy lawyers for Sacramento Kings minority owner Bob Cook have agreed to sell his 7 percent stake to Chris Hansen, the investor behind Seattle's effort to buy the franchise, according to News 10 in Sacramento.

The $15.1 million price would give the Seattle group a total of 72 percent. The Maloof brothers, majority owners of the Kings, have previously agreed to sell their 65 percent stake for $525 million pending NBA approval.

Sacramento Mayor Kevin Johnson says other minority owners of the Kings will submit an offer for Cook's stake in the next few days.

There is a "no shop" provision on the Cook-Hansen deal, meaning there can be no other negotiations for the 7 percent pending the bankruptcy judge's ruling. The trustee for Cook's holdings is looking for an April 15-16 hearing date. The NBA Board of Directors meeting where owners will vote on whether the Kings will stay or go is set for a few days later...

The Sacramento and Seattle investor groups make their pitches to the NBA Relocation Committee on April 3rd.

On Tuesday, the Sacramento City Council approved the term sheet for the new arena which is key to any movement keeping the Kings in town...
((HT: News10.net))
News 10 later caught up with a locally-optimistic Cook at Sleep Train to discuss the proposed sale...

Ride On The Sleep Train, Sacramento...New Naming Rights Deal Is for Mattress Company

((HT: News10 Sacramento))

This is not a joke- although the HQ wishes it was- then, we really could make fun of what lengths the city of Sacramento's businesses are going to go get publicity (or keep the Kings in town, one of the two...)

The HQ knew the arena in Sacramento as ARCO for the longest time when the Kings relocated from Kansas City. Then, it went to Sacramento Arena when the town was trying to find sponsors and couldn't.

Then, it went to Power Balance Arena...

Now, this...

Sleep Train Mattress Centers announced a partnership which includes renaming the building... "Sleep Train Arena"

Apparently, Sleep Train has been a successful business in northern California for close to three decades...

This is their ad when they celebrated their 25th birthday...


Maybe Tyreke Evans, DeMarcus Cousins, and Jimmer Fredette can get their mattresses for special discount from now on...

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