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^ and thats the real reason. maloofs will go back and say the arena plan made by KJ was not fair to them and to sactown. By exclusively selling to a buyer who wants to relocate, there would be no way of proving them wrong.
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Who says it isn't valued that high? While there are different ways to value companies, if an investor is willing to pay an amount for something, then that's its value. Also, the Maloofs haven't invested that much into the Kings in the past 5 years. Look at their merchandise. I would MUCH prefer black be the main color instead of purple. That's why I haven't bought much in the past 7-8 yearsSame could be said for Howard Schultz back in the day. Everyone knew if Schultz told Steve Ballmer that he was selling, Ballmer would have stepped in. In the end, it's a money grab for a malcontent owner (in this case, a family of owners), and definitely a double-bird to the city.That's what some of us are thinking. Why sell to a Seattle based group when you know you have interested investors local? And even if Hansen and co set the number at $525 mil why not see if anyone else local would match or outbid? A lot of us feel it was their two middle fingers up to Sacramento.
That being said, the problem with "matching" the $525 million figure is the fact the franchise isn't valued that high in Sacramento. If a local owner matched dollar-for-dollar (because that's all the Maloofs care about), it'd be a boondoggle, financially. They'd be civic heroes, but at a cost they'd never recoup. Therein lies the juxtaposition: nobody will match Hansen, dollar-for-dollar, based on the valuation. Because of that, the Maloofs won't be inclined to sell for less than that, because they just want the big pay day.
The only way I see this working in Sacramento's favor is if Stern believes in someone like Burkle, who will pay the fair market value, and sort out an arena deal and have it in place (as in, bulldozers can start bulldozing tomorrow...proverbially, of course). Then Stern can tell the BoG to deny a sale to Hansen's group.
Please correct me if I'm wrong on any of this analysis of the situation (I'm a communications major, not a lawyer lol).
That's what some of us are thinking. Why sell to a Seattle based group when you know you have interested investors local? And even if Hansen and co set the number at $525 mil why not see if anyone else local would match or outbid? A lot of us feel it was their two middle fingers up to Sacramento.
Same could be said for Howard Schultz back in the day. Everyone knew if Schultz told Steve Ballmer that he was selling, Ballmer would have stepped in. In the end, it's a money grab for a malcontent owner (in this case, a family of owners), and definitely a double-bird to the city.
That being said, the problem with "matching" the $525 million figure is the fact the franchise isn't valued that high in Sacramento. If a local owner matched dollar-for-dollar (because that's all the Maloofs care about), it'd be a boondoggle, financially. They'd be civic heroes, but at a cost they'd never recoup. Therein lies the juxtaposition: nobody will match Hansen, dollar-for-dollar, based on the valuation. Because of that, the Maloofs won't be inclined to sell for less than that, because they just want the big pay day.
The only way I see this working in Sacramento's favor is if Stern believes in someone like Burkle, who will pay the fair market value, and sort out an arena deal and have it in place (as in, bulldozers can start bulldozing tomorrow...proverbially, of course). Then Stern can tell the BoG to deny a sale to Hansen's group.
Please correct me if I'm wrong on any of this analysis of the situation (I'm a communications major, not a lawyer lol).
Didn't realize BoG sometimes meets during All-Star break. They're not this year, but if they did, they could have voted on approving a sale then. Have to wait until April for everything to go to a vote.
^I'm going off on a whim, but I think if and when the sale is finalized so will the relocation.
Exactly (to your first point)They kind of go hand-in-hand. They won't approve a sale unless they know they're approving relocation as well. Also, a sale requires 3/4ths majority approval, relocation is only a simple majority. If they deny the sale outright, then a relocation vote is rendered moot.^I'm going off on a whim, but I think if and when the sale is finalized so will the relocation.
One question: do the Maloofs file for relocation on behalf of Hansen's group? They're still technically the owners, pending approval. I'd imagine filing a request is a requirement of their deal agreement.
The problem with this is that if the Kings move, the owners will owe the city $70MM as repayment for a bond issued on behalf of the city for the Kings shortly before the Maloofs bought the team in '97. I believe one of the main reasons why they are selling the team is because they are not solvent and need the cash in order to meet other expenses in addition to the Kings not being a money maker for them anymore since the fans no longer support them or sell out Arco Arena (Sleeptrain Arena)One question: do the Maloofs file for relocation on behalf of Hansen's group? They're still technically the owners, pending approval. I'd imagine filing a request is a requirement of their deal agreement.
The problem with this is that if the Kings move, the owners will owe the city $70MM as repayment for a bond issued on behalf of the city for the Kings shortly before the Maloofs bought the team in '97. I believe one of the main reasons why they are selling the team is because they are not solvent and need the cash in order to meet other expenses in addition to the Kings not being a money maker for them anymore since the fans no longer support them or sell out Arco Arena (Sleeptrain Arena)
I can't imagine the Maloofs file (can they even?) for relocation if the minority owners plan to buy the team.
is this the same chris hansen that did the pedo show???Why isn't Hansen even mentioning Seattle
is this the same chris hansen that did the pedo show???
didint know that show made enough money to buy a pro franchise
putting down pervs is quite the lucrative business i see