Seattle SuperSonics Thread

laugh.gif
 seriously
 
^ Indeed. Covered aspects from both cities and laid it all out (as far as I know, anyway).

This also hit me... IF IF IF Seattle gets a team... hopefully it'll also mean the return of...

smokin.gif


 
http://sports.yahoo.com/news/nba--n...proposed-sale-to-seattle-group-183116508.html

NBA relocation committee call reveals 'deal points' of Kings' proposed sale to Seattle group

The NBA held a conference call with members of the league's relocation committee to outline deal points on the proposed sale of majority ownership of the Sacramento Kings to a Seattle-based ownership group, league sources told Yahoo! Sports.

The call detailed what NBA officials described as "a non-binding set of deal points" on a $525 million sale of majority ownership to the Chris Hansen-Steve Ballmer group, sources said.

Discussions have continued in the past week to push the purchase to toward completion and ultimately clear the way for the franchise to move to Seattle, sources told Yahoo! Sports.

The call took place on Tuesday – one day before Yahoo! Sports reported the finalizing of a deal – and informed several league owners that the Hansen-Ballmer Seattle group would purchase 65 percent of the Kings, sources said. The league office told members of the relocation committee that the non-binding agreement would constitute 53 percent of the franchise owned by the Maloof family and an additional 12 percent from minority owner Bob Hernreich.

The sale price of $525 million is considered an overall valuation of the franchise.

The committee is comprised of several NBA owners, including committee chair Clay Bennett of Oklahoma City.

It is unclear if the selling of 53 percent of the Maloofs' share would leave them with any future stake in the franchise, but sources have told Yahoo! Sports that there's no circumstance where the Maloofs would have any real input or governance over day-to-day team operations.

Throughout the negotiations, the Maloofs had sought a way to keep a small percentage of the team in the transaction, sources said. The Seattle group has wanted the family completely out of the organization.

The Kings have yet to file for relocation to Seattle, but will do so before the March 1 deadline to insure that the franchise can play the 2013-14 season in Seattle's KeyArena, sources said. The Seattle group plans to use KeyArena for two seasons until the completion of a new Seattle arena could be completed.

The city of Seattle and King County has a deal with Hansen to construct a new arena once the investment group secures an NBA team. Plans to build a $500 million arena were approved by the local officials in October. The group also will change the team's name back to the Sonics. Seattle lost the Sonics when Bennett moved them to Oklahoma City in 2008.
Click to expand...
 
..
NBA relocation committee call reveals 'deal points' of Kings' proposed sale to Seattle group

The NBA held a conference call with members of the league's relocation committee to outline deal points on the proposed sale of majority ownership of the Sacramento Kings to a Seattle-based ownership group, league sources told Yahoo! Sports.

The call detailed what NBA officials described as "a non-binding set of deal points" on a $525 million sale of majority ownership to the Chris Hansen-Steve Ballmer group, sources said.

Discussions have continued in the past week to push the purchase to toward completion and ultimately clear the way for the franchise to move to Seattle, sources told Yahoo! Sports.

[Also: Hawks fan delivers greatest half-court miss you'll ever see]

The call took place on Tuesday – one day before Yahoo! Sports reported the finalizing of a deal – and informed several league owners that the Hansen-Ballmer Seattle group would purchase 65 percent of the Kings, sources said. The league office told members of the relocation committee that the non-binding agreement would constitute 53 percent of the franchise owned by the Maloof family and an additional 12 percent from minority owner Bob Hernreich.

The sale price of $525 million is considered an overall valuation of the franchise.

The committee is comprised of several NBA owners, including committee chair Clay Bennett of Oklahoma City.

It is unclear if the selling of 53 percent of the Maloofs' share would leave them with any future stake in the franchise, but sources have told Yahoo! Sports that there's no circumstance where the Maloofs would have any real input or governance over day-to-day team operations.

Throughout the negotiations, the Maloofs had sought a way to keep a small percentage of the team in the transaction, sources said. The Seattle group has wanted the family completely out of the organization.

[Also: James, Wade say Heat face more pressure than Lakers]

The Kings have yet to file for relocation to Seattle, but will do so before the March 1 deadline to insure that the franchise can play the 2013-14 season in Seattle's KeyArena, sources said. The Seattle group plans to use KeyArena for two seasons until the completion of a new Seattle arena could be completed.

The city of Seattle and King County has a deal with Hansen to construct a new arena once the investment group secures an NBA team. Plans to build a $500 million arena were approved by the local officials in October. The group also will change the team's name back to the Sonics. Seattle lost the Sonics when Bennett moved them to Oklahoma City in 2008.
Click to expand...

The article reveals a few details but no new insight.

Front page headlines this is "Kings inch closer to Seattle" but it's basically just "I broke this news last week, here's why, if things haven't happened yet, it's not my fault"
 
Also "Maloofs not interested in selling to buyer wanting to keep kings in Sac"
 
Lightweight Champion said:
If this is true its totally out of spite towards KJ and a big middle finger to Sacramento.
Click to expand...

Also, they probably want to prove to the world that sacramento is not a viable market. If they sell to an owner who wants to keep the team in sactown and sign the arena deal with no hesitation, it would really show that the maloofs are the problem and that sactown isn't
 
Last edited:
That's what I don't get. Money is money during a sale no matter where it comes from. But the Maloofs have already shown they're the problem not the city. Stern knows it, they just proved it when they backed away from the new arena deal.
 
I know man. Its common sense but do the maloofs have it? The problem is the majority of people outside Sacramento either believe its the city's fault or that seattle deserves the team more than small market sactown. The maloofs will definitely use this to their advantage
 
[article=""][h1] [/h1]
[h1]Sacramento OK'd to present counteroffer for Kings[/h1]
By Matt Moore  | Senior Blogger
January 15, 2013 1:49 pm ET

11513_Johnson.jpg
Kevin Johnson is still working to keep the Kings. (Getty Images)
In a press conference this afternoon for a "State of Sacramento" breakfast, Mayor Kevin Johnson told reporters that David Stern has informed him that Sacramento will be allowed to present their case  to keep the Kings in Sacramento at a NBA Board of Governors meeting.

What does this mean?

That's where this gets complicated.

OK, so to catch you up. The Maloofs would like to sell the team, having realized that they're never going to find a way to get the team out of Sacramento while retaining ownership due to 1, finances and 2, the fact that the NBA has zero faith in them as evidenced by the Board of Governors' rejection of their bid for relocation. (Technically it never came to a vote, that was after the league saw Johnson's last presentation which evidently made the Maloofs' look like that horrible speech on bugs you gave in third grade.)

So they want to sell the team to someone who will drastically overpay for the team, move it to a bigger market, while allowing the Maloofs to retain control of the franchise. They want to get paid for their stake in the team while still being major players in the NBA scene and get to enjoy their toy.

Seattle's Chris Hansen put together what was reported to be a massive bid of close to $500 million (standard selling price for NBA franchises varies between $300 million to $350 million). But that also has to cover the relocation fee cost of over $100 million, and there were reportedly disagreements over how much control the Maloofs would get in that situation. (And really, if you're paying $500 million for a franchise, don't you want to run it the way you want?)

After hangups started surfacing, CBSSports.com's Ken Berger reported that 24 Hour Fitness founder Mark Mastrov was putting together an offer  to buy the team and keep it in Sacramento. That's followed by today's report from USA Today which outlines a little more of what the plan is for local ownership groups.
While the identities of Johnson's deep-pocketed allies have mostly been kept private, two people with knowledge of the situation said that current Kings minority owner John Kehriotis – who owns approximately 12 percent of the team - has been in talks with at least one of the groups organizing an offer to keep the team in Sacramento. He's not alone in that regard, as Northern California-based 24-Hour Fitness founder, Mark Mastrov, is also known to be involved in such efforts to keep the team in Sacramento.

While Mastrov is considered the most serious of the known local suitors, two people with knowledge of the situation said that the interest of Los Angeles-based supermarket mogul Ron Burkle has been overstated and the extent of his involvement is unclear. Stern himself mentioned Burkle on Thursday, saying that Kings fans made a fair point that he – or suitors like him – deserved a fair shot at making a bid on the team that would keep it in town. Burkle first entered this picture in April of 2011, when Johnson got Stern's attention by partnering with the man who emerged as the most likely candidate to ride in on the white horse to save the Kings.
Click to expand...
via Kevin Johnson won't give up trying to keep Kings.

So now you have several people with deep pockets putting together an offer to buy the team and keep it in the city, along with the new arena agreement with the city that the Maloofs backed out of last spring because they are the Maloofs.

But what about that pesky control issue? Would a Sacramento-based conglomerate really let the Maloofs keep their paws on the team?

Ryan Lillis@Ryan_Lillis

Mayor: Maloofs 'can participate in some way' in new local ownership group 'if they want to remain a part of this team and this community.'

15 Jan 13
Click to expand...

So you see again how Kevin Johnson is maneuvering here. He's gotten another audience with the NBA's Board of Governors to show them how much ground support there is in Sacramento along with political and financial backing. He's got the possibility of putting together a very lucrative offer to match the Seattle offer, taking away that element from the discussion, equalizing it, at least after relocation fees. And he's gone on record as offering to give the Maloofs the control that the other group won't offer.

He's boxing the Maloofs in a corner. The NBA in that situation would be forced to ask "Why wouldn't you just take the Sacramento deal?"

Answer: "Because the market isn't sustainable." Response: "But their entire presentation proves that's not the case."

Answer: "Because the other offer is better." Response: "But they've matched the offer outside of the relocation fee you'd lose anyway."

Answer: "Because we want control of the franchise in some way." Response: "The mayor has already offered that to you."

It gives David Stern, who has hustled and bustled in a very non-traditional and unexpected way against the wills of NBA ownership in the Maloofs to maneuver the Board of Governors against their efforts to relocate, an out to do it again.

This thing continues to percolate and develop with every day, and one thing's certain.

Sacramento is prepared for this fight, and they're going to go down swinging. Seattle hasn't stolen the Kings yet.
 
Click to expand...
http://www.cbssports.com/nba/blog/e...still-working-towards-checkmate-to-keep-kings
[/article]

 
IMO it could just be posturing by the NBA to give KJ a 'shot'..... 
 
Agreed on the "posturing". The Board of Governors pretty much has to listen to a counter offer. Otherwise, it’d look bad on their part, especially after it became known the relocation committee already entertained the proposed Hansen offer. However, the important thing to remember is something Aldridge said Monday: no way does someone like Hansen (with $1 billion riding on this) not have exclusive negotiating rights with the Maloofs.

That being said, it’s in the best interest of the BoG to lean towards accepting the Seattle option. A sale and move to Seattle immediately drives up the value on every franchise in the league. There’s no financial incentive to keep the Kings in Sacramento. And that’s the unfortunate reality of the new generation of NBA owners: they run their franchises like a business (albeit poorly, in some cases), rather than treat it is a hobby (the old model). Right now, the Kings are being subsidized by the league. Add up all the variables, and most owners are probably salivating at the idea of a team moving to a bigger market, just for the payout.
 
At the same time though, I've read KJ has the respect of all the owners/BoG... in some way that has to go in his favor right? Or is everything just kinda piling up against Sacramento?

I was thinking about this the earlier today, if yall get the Kings, making the grand total of Seattle major sports to 4... would their share of the 12th ranked media market in America be as large as the Kings owning 100% of the 20th ranked Sacramento media market?
 
Lightweight Champion said:
But wouldn't that mean the other owners all have the intent to, at some point, sell their teams?
Click to expand...

It's not about selling. It's about having a valuable asset and using it to your advantage (like a bigger TV deal). But if it comes down to selling, you don't think one or two owners would be interested in flipping their team for a huge profit? Imagine if Clay Bennett came out tomorrow and said "alright, Thunder are for sale. Bidding starts at $600 million." There would be takers, and Bennett comes away with a huge gain on his initial overpayment. Like I said, it's treated like a business now.
 
You must log in or register to reply here.

Similar threads

Hijo Del Promo
  • Locked
Official 2024-25 NBA Season Thread
2
Replies
38
Views
4K
Methodical Management
Methodical Management
therealest1
Nike Air Max 2013
Replies
3
Views
757
therealest1
therealest1
Brownstone
Buzzer Beaters Only Thread
Replies
11
Views
909
ThaxbyChamblis
ThaxbyChamblis
beeface
Other shoes thread
Replies
2
Views
327
beeface
beeface
therealest1
Official Wu-Tang Clan Thread
Replies
3
Views
476
therealest1
therealest1

Latest News

View All News

Thread Gallery

View Full Gallery

The ultimate sneaker enthusiast community.

Site contents may not be incorporated into AI training data or any other derivative works without prior express written consent.

Links to participating merchants may generate referral or affiliate commissions that help support our community. See our policies for details. NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

| Xenforo Add-ons © by ©XenTR | Media embeds via s9e/MediaSites
Back
Top Bottom