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Official Sacramento Kings Off-season Thread
- Thread in 'Sports & Training' Thread starter Started by mister916,
- Start date
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D
Deleted member 38182
Guest
That was a cool win
D
Deleted member 38182
Guest
That was a cool win
- 5,456
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^Aren't you a former Pacers fan tho?
Good win with Tyreke back.
Good win with Tyreke back.
- 5,456
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^Aren't you a former Pacers fan tho?
Good win with Tyreke back.
Good win with Tyreke back.
D
Deleted member 38182
Guest
Yes. But its been 11 years
damn that was a long time ago
I still follow Pacers news but Kings are definitely my #1
D
Deleted member 38182
Guest
Yes. But its been 11 years
damn that was a long time ago
I still follow Pacers news but Kings are definitely my #1
D
Deleted member 38182
Guest
I guess this is it boys...... I appreciate the last ditch grass-roots 'alternative plan' to save the Kings..... The plan actually sounds like it would have been really nice, renovating (not sure why) current Arco whilst building a new arena next door. Seems perfect, too bad money was not in fact in place. I feel like crying.
http://www.fox40.com/news/headlines/ktxl-news-sackingsmaloofplan,0,7683249.story
I know I said that my hopes were non-existent and that I was prepared for the worst..... But when Crandell first broke this; under all the bs I was spewing out about Fox40 and Crandell and how illegitimate his report was........ it really lit a glimmer of hope in me
Probably why I was so quick to %!@+ on Crandell as a coping mechanism
This bitter pill is tough to swallow. Sure life will move on, but this is honestly a part of my life that is being ripped out of me and I know it will never be the same.
As stupid as this sound, I will never be the same person if/once the Kings leave. Makes me sad. This is worse than me and my GF's rocky tumultuous relationship, sure we have our rough patches but she and I always work it out. With this it feels like the Kings are being stabbed, raped, and mutilated right before my eyes while the media are sugarcoating this, the Maloofs organization dragging it out, the city of Sacramento throwing salt in this ever-growing wound, and Grant Napear playing the blame game before this impending death. I can confidently, and fortunately, proclaim that I have never faced anything in my life that I was not in control of or could have had an opportunity to change. With the Kings, I have literally ZERO say or control in this matter. Its like being in an airplane crash; at the beginning of this whole debacle was when the pilot came over the intercoms and told all the passengers that one of the planes engines had failed, there are flames shooting out of the engine and yet we are somehow able to remain calm. Then all of a sudden there we feel a huge thud and before you know it all engines have failed... the pilot is trying to glide us down to Earth and hope for an emergency landing............... right now we are seconds from hitting the ground and we have no idea if we are gonna live or die. In this situation, we are all scared out of our minds and personally I am bracing for the worst. But that doesn't make it any easier to accept. Heck it isn't even clear if it should be acceptable. All I know is that this is happening, and I feel absolutely helpless. I have never felt so exposed, abandoned, so forsaken.
Please don't let this be the end.
http://www.fox40.com/news/headlines/ktxl-news-sackingsmaloofplan,0,7683249.story
I know I said that my hopes were non-existent and that I was prepared for the worst..... But when Crandell first broke this; under all the bs I was spewing out about Fox40 and Crandell and how illegitimate his report was........ it really lit a glimmer of hope in me
As stupid as this sound, I will never be the same person if/once the Kings leave. Makes me sad. This is worse than me and my GF's rocky tumultuous relationship, sure we have our rough patches but she and I always work it out. With this it feels like the Kings are being stabbed, raped, and mutilated right before my eyes while the media are sugarcoating this, the Maloofs organization dragging it out, the city of Sacramento throwing salt in this ever-growing wound, and Grant Napear playing the blame game before this impending death. I can confidently, and fortunately, proclaim that I have never faced anything in my life that I was not in control of or could have had an opportunity to change. With the Kings, I have literally ZERO say or control in this matter. Its like being in an airplane crash; at the beginning of this whole debacle was when the pilot came over the intercoms and told all the passengers that one of the planes engines had failed, there are flames shooting out of the engine and yet we are somehow able to remain calm. Then all of a sudden there we feel a huge thud and before you know it all engines have failed... the pilot is trying to glide us down to Earth and hope for an emergency landing............... right now we are seconds from hitting the ground and we have no idea if we are gonna live or die. In this situation, we are all scared out of our minds and personally I am bracing for the worst. But that doesn't make it any easier to accept. Heck it isn't even clear if it should be acceptable. All I know is that this is happening, and I feel absolutely helpless. I have never felt so exposed, abandoned, so forsaken.
Please don't let this be the end.
D
Deleted member 38182
Guest
I guess this is it boys...... I appreciate the last ditch grass-roots 'alternative plan' to save the Kings..... The plan actually sounds like it would have been really nice, renovating (not sure why) current Arco whilst building a new arena next door. Seems perfect, too bad money was not in fact in place. I feel like crying.
http://www.fox40.com/news/headlines/ktxl-news-sackingsmaloofplan,0,7683249.story
I know I said that my hopes were non-existent and that I was prepared for the worst..... But when Crandell first broke this; under all the bs I was spewing out about Fox40 and Crandell and how illegitimate his report was........ it really lit a glimmer of hope in me
Probably why I was so quick to %!@+ on Crandell as a coping mechanism
This bitter pill is tough to swallow. Sure life will move on, but this is honestly a part of my life that is being ripped out of me and I know it will never be the same.
As stupid as this sound, I will never be the same person if/once the Kings leave. Makes me sad. This is worse than me and my GF's rocky tumultuous relationship, sure we have our rough patches but she and I always work it out. With this it feels like the Kings are being stabbed, raped, and mutilated right before my eyes while the media are sugarcoating this, the Maloofs organization dragging it out, the city of Sacramento throwing salt in this ever-growing wound, and Grant Napear playing the blame game before this impending death. I can confidently, and fortunately, proclaim that I have never faced anything in my life that I was not in control of or could have had an opportunity to change. With the Kings, I have literally ZERO say or control in this matter. Its like being in an airplane crash; at the beginning of this whole debacle was when the pilot came over the intercoms and told all the passengers that one of the planes engines had failed, there are flames shooting out of the engine and yet we are somehow able to remain calm. Then all of a sudden there we feel a huge thud and before you know it all engines have failed... the pilot is trying to glide us down to Earth and hope for an emergency landing............... right now we are seconds from hitting the ground and we have no idea if we are gonna live or die. In this situation, we are all scared out of our minds and personally I am bracing for the worst. But that doesn't make it any easier to accept. Heck it isn't even clear if it should be acceptable. All I know is that this is happening, and I feel absolutely helpless. I have never felt so exposed, abandoned, so forsaken.
Please don't let this be the end.
http://www.fox40.com/news/headlines/ktxl-news-sackingsmaloofplan,0,7683249.story
I know I said that my hopes were non-existent and that I was prepared for the worst..... But when Crandell first broke this; under all the bs I was spewing out about Fox40 and Crandell and how illegitimate his report was........ it really lit a glimmer of hope in me
As stupid as this sound, I will never be the same person if/once the Kings leave. Makes me sad. This is worse than me and my GF's rocky tumultuous relationship, sure we have our rough patches but she and I always work it out. With this it feels like the Kings are being stabbed, raped, and mutilated right before my eyes while the media are sugarcoating this, the Maloofs organization dragging it out, the city of Sacramento throwing salt in this ever-growing wound, and Grant Napear playing the blame game before this impending death. I can confidently, and fortunately, proclaim that I have never faced anything in my life that I was not in control of or could have had an opportunity to change. With the Kings, I have literally ZERO say or control in this matter. Its like being in an airplane crash; at the beginning of this whole debacle was when the pilot came over the intercoms and told all the passengers that one of the planes engines had failed, there are flames shooting out of the engine and yet we are somehow able to remain calm. Then all of a sudden there we feel a huge thud and before you know it all engines have failed... the pilot is trying to glide us down to Earth and hope for an emergency landing............... right now we are seconds from hitting the ground and we have no idea if we are gonna live or die. In this situation, we are all scared out of our minds and personally I am bracing for the worst. But that doesn't make it any easier to accept. Heck it isn't even clear if it should be acceptable. All I know is that this is happening, and I feel absolutely helpless. I have never felt so exposed, abandoned, so forsaken.
Please don't let this be the end.
lightweight champion
Banned
- 13,481
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- Jun 23, 2007
I don't know if I'm emotionally detached, numb, or just not fully aware but the sadness hasn't hit me yet. But I'm almost certain I'll be in tears on the last game of the regular season.
lightweight champion
Banned
- 13,481
- 5,271
- Joined
- Jun 23, 2007
I don't know if I'm emotionally detached, numb, or just not fully aware but the sadness hasn't hit me yet. But I'm almost certain I'll be in tears on the last game of the regular season.
J
jawnstockton
Guest
Damn...I'm right there with you guys
None of us will be the same, but more than that, Sacramento will never be the same. In this sprawling hell of a city, the Kings are the one thing that brought us all together.
None of us will be the same, but more than that, Sacramento will never be the same. In this sprawling hell of a city, the Kings are the one thing that brought us all together.
J
jawnstockton
Guest
Damn...I'm right there with you guys
None of us will be the same, but more than that, Sacramento will never be the same. In this sprawling hell of a city, the Kings are the one thing that brought us all together.
None of us will be the same, but more than that, Sacramento will never be the same. In this sprawling hell of a city, the Kings are the one thing that brought us all together.
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- Mar 24, 2007
Thornton ftw!
- 16,310
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- Mar 24, 2007
Thornton ftw!
- 16,310
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- Mar 24, 2007
Is Omri injured?
- 16,310
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- Mar 24, 2007
Is Omri injured?
- 16,310
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- Mar 24, 2007
First OT win of they year I believe.
- 16,310
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First OT win of they year I believe.
D
Deleted member 38182
Guest
Amazing win
D
Deleted member 38182
Guest
Amazing win
- 5,456
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- Aug 12, 2008
Three in a row. Nice.
Interesting read below.
Where Jim Thomas at these days?
Marcos Breton: Maloofs' deal looks desperate
Share
By Marcos Breton
[email protected]
Published: Sunday, Mar. 27, 2011 - 12:00 am| Page 1B
As more information surfaced about the Kings' potential move to Anaheim, the deal itself appears to be as much a bailout of the team's owners as a relocation of the franchise.
The proposed venue contract that would make the Honda Center the Kings' home contains a massive loan to the Maloof brothers.
It also contains a major about-face. Previously, the Maloofs demanded control of any and all revenue streams related to a new arena in Sacramento if they were to keep the Kings here.
But the proposed Anaheim deal is full of significant concessions to their prospective landlord, billionaire Henry Samueli.
Chief among them: The Maloofs would control only 50 percent of parking revenue and only 50 percent of food and beverage revenue generated for NBA games.
The Maloofs would not control the Honda Center naming rights. Should Sameuli extend his naming rights deal with Honda or makes another deal, Samueli alone sets the terms.
Under any new naming rights deal, the Maloofs would be entitled to only a third of the money.
The Maloofs would get 100 percent of NBA-related advertising inside Honda Center. But they would get only a third of every other form of arena advertising.
They would get 92 percent of ticket sales from NBA games but share in no revenue from NHL games, concerts or any other events at Honda Center.
Samueli also controls the arena's luxury suites.
So, the Maloofs will go from wanting to control everything in Sacramento to virtually being tenants if the venue contract details released by Anaheim officials Friday are any indication.
Of course, the deal remains unsigned and much could change between now and April 18, the deadline for the Maloofs to make a relocation bid before the NBA Board of Governors.
The Maloofs aren't talking. The NBA isn't talking. Anaheim officials aren't talking. And Mayor Kevin Johnson seems resigned that the Kings are leaving under his watch.
But there are two details in the proposed Anaheim deal that provide the most clarity yet on what's driving the move: First, there is a $50 million loan from Samueli to the Maloofs.
The terms of the loan have not been revealed, but it's a safe bet that security for it will be severe. Some of the loan language is spelled out in capital letters for emphasis:
"THE OBLIGATIONS OF (Maloof Sports) TO MAKE VCAP PAYMENTS ARE ABSOLUTE AND UNCONDITIONAL."
The Kings already have borrowed significantly from the NBA. And though they deny it, media reports have stated the Maloofs could lose a controlling interest of their Las Vegas casino to lenders. When they bought the Kings, the Maloofs also inherited a loan from the city of Sacramento in excess of $70 million with prepayment penalties.
Now Samueli is proposing to float them another massive loan.
Meanwhile, there is a vague section of the deal where the Maloofs would own all rights and revenue to whatever TV deal they could secure in Anaheim.
It seems this is where the Maloofs could potentially make money and make the move work.
The Los Angeles Lakers recently signed a 20-year deal with Time Warner Cable valued by some at $3 billion, though Time Warner officials dismissed that figure in published reports.
Could the Kings score their own lucrative deal? It's anybody's guess.
On Tuesday, Anaheim officials will vote on whether to pass a bond sale for $75 million. Presumably, $50 million of that will be siphoned off to the Kings and the remainder would be used to upgrade the Honda Center.
The fact that the Maloofs would move from a sports market they control to one where they are tenants is telling. It gives the impression that they are desperate.
The $50 million loan from Samueli raises all manner of questions on how the Maloofs will repay their loan to Sacramento and what will become of Power Balance Pavilion if they move.
If they pay off the loan, the Maloofs retain control of the Natomas arena and 80 acres around it. If they don't, the city of Sacramento retains the arena, land and a $25 million stake in the team.
If that happens, how in the heck would a city that is broke repay the Kings loan to bond investors who surely would want their $77 million? It's also clear that all the well-meaning emotion to keep the Kings here is heart-warming, but largely insignificant in this cold-blooded deal.
It's not about emotion or anything Sacramento did wrong. There is one major difference between Anaheim and Sacramento and only one difference that matters: Henry Samueli.
He is the straw that stirs this drink. He has the money the Maloofs don't have. He has the clout with Anaheim that no rich Sacramento guy has here. He has deep pockets; Sacramento is broke.
If the Maloofs had made these kinds of revenue concessions in 2006 or before, there would probably be a new arena sprouting in Sacramento right now.
But they wanted to control all revenue streams in Sacramento and walked away from the table when they couldn't. Now they appear desperate enough to give up most of the control to remain viable.
It's one of many bitter pills Sacramento may swallow as this nightmare of a deal moves forward.
Read more: http://www.sacbee.com/2011/03/27/3506318/marcos-breton-maloofs-deal-looks.html#ixzz1Hq0WTwZl
Interesting read below.
Where Jim Thomas at these days?
Marcos Breton: Maloofs' deal looks desperate
Share
By Marcos Breton
[email protected]
Published: Sunday, Mar. 27, 2011 - 12:00 am| Page 1B
As more information surfaced about the Kings' potential move to Anaheim, the deal itself appears to be as much a bailout of the team's owners as a relocation of the franchise.
The proposed venue contract that would make the Honda Center the Kings' home contains a massive loan to the Maloof brothers.
It also contains a major about-face. Previously, the Maloofs demanded control of any and all revenue streams related to a new arena in Sacramento if they were to keep the Kings here.
But the proposed Anaheim deal is full of significant concessions to their prospective landlord, billionaire Henry Samueli.
Chief among them: The Maloofs would control only 50 percent of parking revenue and only 50 percent of food and beverage revenue generated for NBA games.
The Maloofs would not control the Honda Center naming rights. Should Sameuli extend his naming rights deal with Honda or makes another deal, Samueli alone sets the terms.
Under any new naming rights deal, the Maloofs would be entitled to only a third of the money.
The Maloofs would get 100 percent of NBA-related advertising inside Honda Center. But they would get only a third of every other form of arena advertising.
They would get 92 percent of ticket sales from NBA games but share in no revenue from NHL games, concerts or any other events at Honda Center.
Samueli also controls the arena's luxury suites.
So, the Maloofs will go from wanting to control everything in Sacramento to virtually being tenants if the venue contract details released by Anaheim officials Friday are any indication.
Of course, the deal remains unsigned and much could change between now and April 18, the deadline for the Maloofs to make a relocation bid before the NBA Board of Governors.
The Maloofs aren't talking. The NBA isn't talking. Anaheim officials aren't talking. And Mayor Kevin Johnson seems resigned that the Kings are leaving under his watch.
But there are two details in the proposed Anaheim deal that provide the most clarity yet on what's driving the move: First, there is a $50 million loan from Samueli to the Maloofs.
The terms of the loan have not been revealed, but it's a safe bet that security for it will be severe. Some of the loan language is spelled out in capital letters for emphasis:
"THE OBLIGATIONS OF (Maloof Sports) TO MAKE VCAP PAYMENTS ARE ABSOLUTE AND UNCONDITIONAL."
The Kings already have borrowed significantly from the NBA. And though they deny it, media reports have stated the Maloofs could lose a controlling interest of their Las Vegas casino to lenders. When they bought the Kings, the Maloofs also inherited a loan from the city of Sacramento in excess of $70 million with prepayment penalties.
Now Samueli is proposing to float them another massive loan.
Meanwhile, there is a vague section of the deal where the Maloofs would own all rights and revenue to whatever TV deal they could secure in Anaheim.
It seems this is where the Maloofs could potentially make money and make the move work.
The Los Angeles Lakers recently signed a 20-year deal with Time Warner Cable valued by some at $3 billion, though Time Warner officials dismissed that figure in published reports.
Could the Kings score their own lucrative deal? It's anybody's guess.
On Tuesday, Anaheim officials will vote on whether to pass a bond sale for $75 million. Presumably, $50 million of that will be siphoned off to the Kings and the remainder would be used to upgrade the Honda Center.
The fact that the Maloofs would move from a sports market they control to one where they are tenants is telling. It gives the impression that they are desperate.
The $50 million loan from Samueli raises all manner of questions on how the Maloofs will repay their loan to Sacramento and what will become of Power Balance Pavilion if they move.
If they pay off the loan, the Maloofs retain control of the Natomas arena and 80 acres around it. If they don't, the city of Sacramento retains the arena, land and a $25 million stake in the team.
If that happens, how in the heck would a city that is broke repay the Kings loan to bond investors who surely would want their $77 million? It's also clear that all the well-meaning emotion to keep the Kings here is heart-warming, but largely insignificant in this cold-blooded deal.
It's not about emotion or anything Sacramento did wrong. There is one major difference between Anaheim and Sacramento and only one difference that matters: Henry Samueli.
He is the straw that stirs this drink. He has the money the Maloofs don't have. He has the clout with Anaheim that no rich Sacramento guy has here. He has deep pockets; Sacramento is broke.
If the Maloofs had made these kinds of revenue concessions in 2006 or before, there would probably be a new arena sprouting in Sacramento right now.
But they wanted to control all revenue streams in Sacramento and walked away from the table when they couldn't. Now they appear desperate enough to give up most of the control to remain viable.
It's one of many bitter pills Sacramento may swallow as this nightmare of a deal moves forward.
Read more: http://www.sacbee.com/2011/03/27/3506318/marcos-breton-maloofs-deal-looks.html#ixzz1Hq0WTwZl
- 5,456
- 11
- Joined
- Aug 12, 2008
Three in a row. Nice.
Interesting read below.
Where Jim Thomas at these days?
Marcos Breton: Maloofs' deal looks desperate
Share
By Marcos Breton
[email protected]
Published: Sunday, Mar. 27, 2011 - 12:00 am| Page 1B
As more information surfaced about the Kings' potential move to Anaheim, the deal itself appears to be as much a bailout of the team's owners as a relocation of the franchise.
The proposed venue contract that would make the Honda Center the Kings' home contains a massive loan to the Maloof brothers.
It also contains a major about-face. Previously, the Maloofs demanded control of any and all revenue streams related to a new arena in Sacramento if they were to keep the Kings here.
But the proposed Anaheim deal is full of significant concessions to their prospective landlord, billionaire Henry Samueli.
Chief among them: The Maloofs would control only 50 percent of parking revenue and only 50 percent of food and beverage revenue generated for NBA games.
The Maloofs would not control the Honda Center naming rights. Should Sameuli extend his naming rights deal with Honda or makes another deal, Samueli alone sets the terms.
Under any new naming rights deal, the Maloofs would be entitled to only a third of the money.
The Maloofs would get 100 percent of NBA-related advertising inside Honda Center. But they would get only a third of every other form of arena advertising.
They would get 92 percent of ticket sales from NBA games but share in no revenue from NHL games, concerts or any other events at Honda Center.
Samueli also controls the arena's luxury suites.
So, the Maloofs will go from wanting to control everything in Sacramento to virtually being tenants if the venue contract details released by Anaheim officials Friday are any indication.
Of course, the deal remains unsigned and much could change between now and April 18, the deadline for the Maloofs to make a relocation bid before the NBA Board of Governors.
The Maloofs aren't talking. The NBA isn't talking. Anaheim officials aren't talking. And Mayor Kevin Johnson seems resigned that the Kings are leaving under his watch.
But there are two details in the proposed Anaheim deal that provide the most clarity yet on what's driving the move: First, there is a $50 million loan from Samueli to the Maloofs.
The terms of the loan have not been revealed, but it's a safe bet that security for it will be severe. Some of the loan language is spelled out in capital letters for emphasis:
"THE OBLIGATIONS OF (Maloof Sports) TO MAKE VCAP PAYMENTS ARE ABSOLUTE AND UNCONDITIONAL."
The Kings already have borrowed significantly from the NBA. And though they deny it, media reports have stated the Maloofs could lose a controlling interest of their Las Vegas casino to lenders. When they bought the Kings, the Maloofs also inherited a loan from the city of Sacramento in excess of $70 million with prepayment penalties.
Now Samueli is proposing to float them another massive loan.
Meanwhile, there is a vague section of the deal where the Maloofs would own all rights and revenue to whatever TV deal they could secure in Anaheim.
It seems this is where the Maloofs could potentially make money and make the move work.
The Los Angeles Lakers recently signed a 20-year deal with Time Warner Cable valued by some at $3 billion, though Time Warner officials dismissed that figure in published reports.
Could the Kings score their own lucrative deal? It's anybody's guess.
On Tuesday, Anaheim officials will vote on whether to pass a bond sale for $75 million. Presumably, $50 million of that will be siphoned off to the Kings and the remainder would be used to upgrade the Honda Center.
The fact that the Maloofs would move from a sports market they control to one where they are tenants is telling. It gives the impression that they are desperate.
The $50 million loan from Samueli raises all manner of questions on how the Maloofs will repay their loan to Sacramento and what will become of Power Balance Pavilion if they move.
If they pay off the loan, the Maloofs retain control of the Natomas arena and 80 acres around it. If they don't, the city of Sacramento retains the arena, land and a $25 million stake in the team.
If that happens, how in the heck would a city that is broke repay the Kings loan to bond investors who surely would want their $77 million? It's also clear that all the well-meaning emotion to keep the Kings here is heart-warming, but largely insignificant in this cold-blooded deal.
It's not about emotion or anything Sacramento did wrong. There is one major difference between Anaheim and Sacramento and only one difference that matters: Henry Samueli.
He is the straw that stirs this drink. He has the money the Maloofs don't have. He has the clout with Anaheim that no rich Sacramento guy has here. He has deep pockets; Sacramento is broke.
If the Maloofs had made these kinds of revenue concessions in 2006 or before, there would probably be a new arena sprouting in Sacramento right now.
But they wanted to control all revenue streams in Sacramento and walked away from the table when they couldn't. Now they appear desperate enough to give up most of the control to remain viable.
It's one of many bitter pills Sacramento may swallow as this nightmare of a deal moves forward.
Read more: http://www.sacbee.com/2011/03/27/3506318/marcos-breton-maloofs-deal-looks.html#ixzz1Hq0WTwZl
Interesting read below.
Where Jim Thomas at these days?
Marcos Breton: Maloofs' deal looks desperate
Share
By Marcos Breton
[email protected]
Published: Sunday, Mar. 27, 2011 - 12:00 am| Page 1B
As more information surfaced about the Kings' potential move to Anaheim, the deal itself appears to be as much a bailout of the team's owners as a relocation of the franchise.
The proposed venue contract that would make the Honda Center the Kings' home contains a massive loan to the Maloof brothers.
It also contains a major about-face. Previously, the Maloofs demanded control of any and all revenue streams related to a new arena in Sacramento if they were to keep the Kings here.
But the proposed Anaheim deal is full of significant concessions to their prospective landlord, billionaire Henry Samueli.
Chief among them: The Maloofs would control only 50 percent of parking revenue and only 50 percent of food and beverage revenue generated for NBA games.
The Maloofs would not control the Honda Center naming rights. Should Sameuli extend his naming rights deal with Honda or makes another deal, Samueli alone sets the terms.
Under any new naming rights deal, the Maloofs would be entitled to only a third of the money.
The Maloofs would get 100 percent of NBA-related advertising inside Honda Center. But they would get only a third of every other form of arena advertising.
They would get 92 percent of ticket sales from NBA games but share in no revenue from NHL games, concerts or any other events at Honda Center.
Samueli also controls the arena's luxury suites.
So, the Maloofs will go from wanting to control everything in Sacramento to virtually being tenants if the venue contract details released by Anaheim officials Friday are any indication.
Of course, the deal remains unsigned and much could change between now and April 18, the deadline for the Maloofs to make a relocation bid before the NBA Board of Governors.
The Maloofs aren't talking. The NBA isn't talking. Anaheim officials aren't talking. And Mayor Kevin Johnson seems resigned that the Kings are leaving under his watch.
But there are two details in the proposed Anaheim deal that provide the most clarity yet on what's driving the move: First, there is a $50 million loan from Samueli to the Maloofs.
The terms of the loan have not been revealed, but it's a safe bet that security for it will be severe. Some of the loan language is spelled out in capital letters for emphasis:
"THE OBLIGATIONS OF (Maloof Sports) TO MAKE VCAP PAYMENTS ARE ABSOLUTE AND UNCONDITIONAL."
The Kings already have borrowed significantly from the NBA. And though they deny it, media reports have stated the Maloofs could lose a controlling interest of their Las Vegas casino to lenders. When they bought the Kings, the Maloofs also inherited a loan from the city of Sacramento in excess of $70 million with prepayment penalties.
Now Samueli is proposing to float them another massive loan.
Meanwhile, there is a vague section of the deal where the Maloofs would own all rights and revenue to whatever TV deal they could secure in Anaheim.
It seems this is where the Maloofs could potentially make money and make the move work.
The Los Angeles Lakers recently signed a 20-year deal with Time Warner Cable valued by some at $3 billion, though Time Warner officials dismissed that figure in published reports.
Could the Kings score their own lucrative deal? It's anybody's guess.
On Tuesday, Anaheim officials will vote on whether to pass a bond sale for $75 million. Presumably, $50 million of that will be siphoned off to the Kings and the remainder would be used to upgrade the Honda Center.
The fact that the Maloofs would move from a sports market they control to one where they are tenants is telling. It gives the impression that they are desperate.
The $50 million loan from Samueli raises all manner of questions on how the Maloofs will repay their loan to Sacramento and what will become of Power Balance Pavilion if they move.
If they pay off the loan, the Maloofs retain control of the Natomas arena and 80 acres around it. If they don't, the city of Sacramento retains the arena, land and a $25 million stake in the team.
If that happens, how in the heck would a city that is broke repay the Kings loan to bond investors who surely would want their $77 million? It's also clear that all the well-meaning emotion to keep the Kings here is heart-warming, but largely insignificant in this cold-blooded deal.
It's not about emotion or anything Sacramento did wrong. There is one major difference between Anaheim and Sacramento and only one difference that matters: Henry Samueli.
He is the straw that stirs this drink. He has the money the Maloofs don't have. He has the clout with Anaheim that no rich Sacramento guy has here. He has deep pockets; Sacramento is broke.
If the Maloofs had made these kinds of revenue concessions in 2006 or before, there would probably be a new arena sprouting in Sacramento right now.
But they wanted to control all revenue streams in Sacramento and walked away from the table when they couldn't. Now they appear desperate enough to give up most of the control to remain viable.
It's one of many bitter pills Sacramento may swallow as this nightmare of a deal moves forward.
Read more: http://www.sacbee.com/2011/03/27/3506318/marcos-breton-maloofs-deal-looks.html#ixzz1Hq0WTwZl
lightweight champion
Banned
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That's what I can't get down with. The Maloofs wanted the public to put up funds to make a new arena but they wanted to control all revenues? That's not fair, and now they're desperate enough let Samueli strong arm them so easily? Everything about this relocation stinks. Eventually the Maloofs will be bought out, and will be a very sad day for them.
