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[lightweight champion]

So does that mean te NBA requested that he not be part of the ownership group?

 

[crcballer55]

From the sound of it in the beginning, it always sounded like he wasn't too involved in the first place. I'm sure the Maloof's saying they would never sell to him had something to do with his lack of involvement. Considering that KJ announced him as the development partner in the deal, I think he may still be involved, just on the real estate development end. Someone let me know if I'm wrong here.

 

[lightweight champion]

Sounds about right. He can't be team owner but arena developer no problem.

 

[Deleted member 38182]

Sounds about right. He can't be team owner but arena developer no problem.

I'm pretty sure he can't be the arena developer either..... but he is still committed to all the development surrounding the arena.

Plus as KJ said, Burkle isn't allowed to be part of ownership/arena group but he can still be used as a resource.

Either way I'm not too worried, the term sheet is set and I'm confidant this was discussed during the meetings last wednesday.... especially since he was represented there 

Also, a cool story I read on StR about one of the Crown Downtown guys running into Darius Anderson (Burkle's rep) while camping out at the St. Regis during the meetings and he passed on a shirt to Anderson to give to Burkle, the next day he got a text from Anderson with this pic 

For what it's worth, the NBA vibe remains unchanged in terms of how they see this situation. No red flags being waved. Not even close.
— Sam Amick (@sam_amick) April 8, 2013

For what it's worth, the NBA vibe remains unchanged in terms of how they see this situation. No red flags being waved. Not even close.
— Sam Amick (@sam_amick) April 8, 2013

if theres one guy to listen to about anything NBA related... its Amick

NOTHING concrete, but hearing that both cities preparing for a Kings decision to be made on April 18-19 at the BOG meetings.
— Aaron Bruski (@aaronbruski) April 8, 2013

Thank God 

NBA has known about the Burkle/Relativity issue for a very long time. Pursue the angle that this changes things at your own peril.
— Aaron Bruski (@aaronbruski) April 8, 2013

soooo non issue

 

[crcballer55]

The only way the Burkle situation becomes an issue is if it affects the arena development aspect of things. It sounds like that's by far the most important part of this whole deal. We can argue about India, market size, etc, but at the end of the day, from what I understand the city that can build a viable arena the soonest will be the winner here. I just pray that Stern & the owners can see why Sacramento hasn't been able to build a viable arena for the past 15 years and it's not the city's fault.

 

[Deleted member 38182]

^as I mentioned, I don't think it should be an issue at all. Especially since we have an arena term sheet set in place. 

 

[crcballer55]

Well well... what do you know.
[h1]Burkle to focus on real estate development, won't be part of Kings ownership group[/h1]
Read more here: http://www.sacbee.com/2013/04/08/5325689/burkle-to-focus-on-building-arena.html#storylink=cpy

http://www.sacbee.com/2013/04/08/5325689/burkle-to-focus-on-building-arena.html

By Dale Kasler and Ryan Lillis
[email protected]

Published: Monday, Apr. 8, 2013 - 1:22 pm

Last Modified: Monday, Apr. 8, 2013 - 3:10 pm

Billionaire Ron Burkle, part of the group trying to keep the Sacramento Kings in town, won't take an ownership stake in the team but instead will focus exclusively on real estate development, Mayor Kevin Johnson said today.

Burkle had been expected to take a small ownership stake in the team if the group's bid for the Kings was successful.

Instead, following a meeting last week with a committee of NBA team owners in New York, Burkle has decided not to buy into the team.

Johnson said some NBA executives last week expressed concern that Burkle faced a potential conflict of interest.

He is part owner of a company that manages pro athletes' careers. The company, Relativity Sports, manages multiple NBA players, including Amare Stoudemire of the New York Knicks and John Wall of the Washington Wizards.

With Burkle out, ownership of the Kings would be controlled by Vivek Ranadive, Mark Mastrov and the Jacobs family of San Diego.

Johnson said Burkle's departure from the team ownership would make little difference in Sacramento's attempt to derail the proposed sale of the Kings to a group from Seattle.

 

[Deleted member 38182]

Awesome to see the dude still having a vested interest in Sacramento even with no ties with the Kings or city anymore 

 

[Deleted member 38182]

now thats more like it 

I'm told the Jacobs family is now playing a significant role in the #NBAKings and arena bid. @vivek is leading the bid
— Ryan Lillis (@Ryan_Lillis) April 8, 2013

Statement from Jeff Jacobs, Rancho ValenciaResort and Spa/Qualcomm, whose family playing role in #NBAKings/arena play: (con't)
— Ryan Lillis (@Ryan_Lillis) April 8, 2013

Jacobs: family is truly honored and excited to be a part of this amazing team.When Vivek asked us to join we didn't hesitate to jump in
— Ryan Lillis (@Ryan_Lillis) April 8, 2013

Jacobs: We have worked with @vivek for years and knew this was an opportunity to be part of something very special.
— Ryan Lillis (@Ryan_Lillis) April 8, 2013

Jacobs: CA is our home and we are thrilled 2 join Vivek and Mark (Mastrov) in their efforts 2 keep the Kings in CA and revitalize Sacramento
— Ryan Lillis (@Ryan_Lillis) April 8, 2013

 

[mister916]

We owe so much to Burkle.

 

[lightweight champion]

The way Burkle is talked about on radio you'd think he died or something.

 

[lightweight champion]

Mark Friedman is the new guy replacing Burkle, he developed Arden Mall.

Times of India also has an article about the NBA's growing global popularity. They believe, like we do, that Ranadive is the major wild card that swing the decision in favor of Sacramento.

Sam Amick believes the decision will definitely come some time between April 19-20 and that the BoG was really impressed with the local investors and how much they're putting up.

 

[Deleted member 38182]

^I love that he's been in discussions with KJ/Burkle/Mastrov since January. So its not like KJ is just pulling **** outta his ***.

Funny thought, remember when the 20 local investors news first broke out and most of the general NBA/Seattle fans thought those were supposed to be the people who are gonna save the Kings? 

 gave me a good chuckle 

 

[mister916]

So is there anyone else that has been secretly in discussion with this group? Watch Chris Hansen's name pop up in 2 days.

 

[Deleted member 38182]

 might as well throw him a bone and see if he's willing to join the group 

Also, have yall checked out Seattle's arena deal? The entire deal is built around their city debt 

Like, we here so much about the immense wealth of Ballmer/Nordstrom, why aren't they just paying for the whole thing right? (I'm just kidding, because that would defeat the purpose of the NBA wanting a public subsidy)

And to think they were trying to find holes in our deal 

and what is the context of this video?

 

[dmbrhs]

The Nordstrom family is worth about $2.5 billion, but most of that is tied up in the generation above Pete and Eric (the two involved here). Their personal wealth can't be greater than Blake ($117 million), who is the current president. Pete was a minority owner in the Schultz group. Their involvement is strictly because their name carries a ton of weight in the community, perhaps more than anyone not named Gates. They provided a lot of connections for Chris Hansen in the Seattle community.

 

[niketalker23]

 might as well throw him a bone and see if he's willing to join the group 

Also, have yall checked out Seattle's arena deal? The entire deal is built around their city debt 

Link?

 

[crcballer55]

Would have been awesome if Balmer used that in his pitch to the owners.

 

[dmbrhs]

Btw, that's what Ballmer looks like when he's cheering on his daughter's high school basketball games. You can only imagine what he's like courtside at an NBA game lol.

 

[Deleted member 38182]

Btw, that's what Ballmer looks like when he's cheering on his daughter's high school basketball games. You can only imagine what he's like courtside at an NBA game lol.

He'd be worse than Cuban 

 it'd be funny to see him try to keep his cool tho.

Dudes like that just seem off to me, like they're cracked out or have some weird deep dark murderous fetish or something 

 might as well throw him a bone and see if he's willing to join the group 

Also, have yall checked out Seattle's arena deal? The entire deal is built around their city debt 

Link?

I got this off the excerpts from Sactown Royalty (so take with a grain of biased salt 

). I'm sure Seattle has this covered somehow, just like how they were trying to poke holes at our leveraging of parking assets (albeit being in debt>>>raising parking prices IMO 

)

In other arena related news, an article in the Sports Business Journal indicates that the Seattle groups offers for both the Kings and their arena deal are heavily leveraged.

That facility would get $125 million of public funds, but of the remaining $400 million in private funds, the Hansen group plans to carry $250 million to $300 million of debt and has begun reaching out to banks for that financing, according to sources familiar with the offer. The Hansen group also plans to use the full amount of debt possible on an NBA franchise and its holding company under league rules. That amount is $175 million. That would mean there could be nearly half a billion dollars of debt on the enterprise.

Meanwhile, Sacramento's group plans to use much more equity up front, according to Mark Mastrov, who is quoted as saying:

"We will equitize it," said Mastrov after he presented his group's bid to the NBA in New York last week. He noted that his own business, 24 Hour Fitness, has little debt. "We don't like debt in my business, and the same will go for the Kings," he said.

That doesn't mean Sacramento will be entirely without debt. They will still have to take on the $77 million loan to the city of Sacramento, although that won't have to be paid off immediately like it would if Seattle bought and moved the team.

 

[Deleted member 38182]

these inbreds need to just be eradicated from the planet already

. @zingvodka has established itself as one of the new hottest brands in the beverage industry. Thank you to all of our customers.
— Joe Maloof (@JoeMaloof) April 10, 2013

 

[dmbrhs]

He'd be worse than Cuban 

 it'd be funny to see him try to keep his cool tho.

Dudes like that just seem off to me, like they're cracked out or have some weird deep dark murderous fetish or something 

Guys like that (captains of industry, so to speak) have motors that won't quit. Sometimes they let it show (Ballmer), and sometimes you never see it in public (Gates). But they are equally cutthroat.

 

[Deleted member 38182]

He'd be worse than Cuban 

 it'd be funny to see him try to keep his cool tho.

Dudes like that just seem off to me, like they're cracked out or have some weird deep dark murderous fetish or something 

Guys like that (captains of industry, so to speak) have motors that won't quit. Sometimes they let it show (Ballmer), and sometimes you never see it in public (Gates). But they are equally cutthroat.

And then you have idiots that were gift-wrapped their fortune from the passing of their father, like the Maloofs. And you see just how stupidly they blow thru that fortune and it shows in how they run their idiot lives day to day 

 

[senorroboto2k5]

Are you guys expecting word to leak out as the BoG meets next week? They're supposed to make a final decision within this meeting, correct?

I'm getting sort of antsy, and I'm not even a Kings fan.

 

[Deleted member 38182]

Are you guys expecting word to leak out as the BoG meets next week? They're supposed to make a final decision within this meeting, correct?

I'm getting sort of antsy, and I'm not even a Kings fan.

I doubt anything of substance really leaks between now and then. And yes, I believe it will be a final decision.

And oh please, you're from Sac (I think right?), you're already a martyr for being a Lakers fan........ the least you can do is at least be on our side in hoping the Kings stay!!!