Kings/Sonics Saga Update: Kings stay, Seattle shut out - Page 4 - TigerDroppings.com

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TDawg1313
Washington Fan
WA
Member since Jul 2009
8952 posts
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re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Yep. Stern opens it up by saying it has to be short because he has a game in OKC to go to

Then he follows up by saying that there are no concrete plans for giving the Seattle group anything.



This post was edited on 5/15 at 5:24 pm


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beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
607 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


quote:

What is with the NBA not wanting to move the kings?

Phoenix doesn't deserve an NHL team. I don't understand Bettman/Stern.


Using public funds for arenas. Sacramento also fought to keep their team while working with the league. What didn't they do or what did they do wrong to allow a relocation in their case?






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JabarkusRussell
Member since Jul 2009
9628 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Which owners voted for the move?





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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
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re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


I guess it is a safe bet that Paul Allen of the Blazers did.





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NorthshoreTiger76
LSU Fan
Madisonville LA
Member since May 2009
34413 posts
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re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


not surprising the owners voted this way, the NBA is tired of teams moving every 5 years





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GumBro Jackson
Auburn Fan
New Orleans
Member since Mar 2011
1646 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


I feel bad for Seattle fans, but I think this is the right call. Teams should stay put if it is feasible, and Sacramento has put together a good offer. They should get to keep their team.

Seattle should never have lost theirs either. Since they did, I think expansion is the right answer. Screw teams moving every five years.






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corndeaux
New Orleans Pelicans Fan
Member since Sep 2009
5279 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


+1

TDawg, I hope league does the right thing Seattle gets a franchise soon






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corndeaux
New Orleans Pelicans Fan
Member since Sep 2009
5279 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


dp


This post was edited on 5/15 at 11:21 pm


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JabarkusRussell
Member since Jul 2009
9628 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Seattle deserves a team but the league is so watered down with talent that I hate the idea of expansion. If anything, we need less not more teams. Only 5/30 teams have a shot now. Why make it even worse?





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TDawg1313
Washington Fan
WA
Member since Jul 2009
8952 posts
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re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Well, it went exactly how I was expecting, although I was really hoping for something more firm on Seattle getting an expansion franchise.

Don't be surprised if the Maloofs don't sell though. The numbers are so far off from what Seattle offered, it wouldn't surprise me to see them keep the team if Sacramento doesn't up their bid. They gave them 2-3 days to work out a deal with Sacramento. If that doesn't go through, the Seattle group still intends to push forward with their backup offer of buying 20% of the team.



This post was edited on 5/16 at 12:27 am


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beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
607 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


quote:

If that doesn't go through, the Seattle group still intends to push forward with their backup offer of buying 20% of the team.


Which still would have to be approved by the league for a guy who wants to move the team to Seattle. Good luck with that.






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TDawg1313
Washington Fan
WA
Member since Jul 2009
8952 posts
 Online 

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


quote:

Which still would have to be approved by the league for a guy who wants to move the team to Seattle. Good luck with that.



Yeah, I understand that's still a long shot. Check out these numbers though.

Sacramento is offering 65% of a $525m valuation on the Kings, so $341m. They are subtracting all of the debt that the Maloofs owe on the arena and to the NBA from that though, which puts the price at $200m. So in the end, the Maloofs pocket about $200m.

Seattle offered 65% of a $625m valuation on the Kings, so $406m. They also offered to pay off all of the debts that the Maloofs owe. So in the end, the Maloofs pocket about $406m.

For the backup offer, Seattle offered 20% of a $625m valuation on the Kings, which is $125m and the Maloofs can continue running the team. So in the end, the Maloofs pocket about $125m and stay owners of the Kings.


There's still a lot of questions that need to be answered. The Sacramento grouped is reportedly tapped out of money and I don't think there's any ways the Maloofs agree to pocket $200m+ less.

Source for most of the numbers: LINK



This post was edited on 5/16 at 1:12 am


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beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
607 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Can the Maloofs afford to keep an NBA team is the most important question? How long can they afford to play around before having to take the offer currently on the table? Them banking in $406 million was based on upped offers after it became known the Sacramento group planned on matching. One can say voting no on relocation canceled out and eliminated that inflated offer.





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TDawg1313
Washington Fan
WA
Member since Jul 2009
8952 posts
 Online 

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


quote:

Can the Maloofs afford to keep an NBA team is the most important question?

Doubt it. It will be interesting to see what they do. They have to be pretty pissed at the amount of money they lost on this. The Seattle backup offer is still a better deal for them than the Sacramento offer, but they might just want to be done with all of this.
quote:

How long can they afford to play around before having to take the offer currently on the table?

They gave the Sacramento group 2-3 days.
quote:

Them banking in $406 million was based on upped offers after it became known the Sacramento group planned on matching. One can say voting no on relocation canceled out and eliminated that inflated offer.

True, but there is still someone out there on record as willing to pay that much for it.






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TDawg1313
Washington Fan
WA
Member since Jul 2009
8952 posts
 Online 

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


quote:

TDawg, I hope league does the right thing Seattle gets a franchise soon



Thanks. I think we have a shot at expansion once Stern gets out of office.






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JabarkusRussell
Member since Jul 2009
9628 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out


Whatever happened to capitalism and getting the most you can? I'm sure they will go to court over this.





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