Kings/Sonics Saga Update: Kings stay, Seattle shut out | TigerDroppings.com

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TDawg1313
Washington Fan
WA
Member since Jul 2009
9527 posts

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



I updated the last post in the thread. Press conference expected any minute. Streaming live at this link LINK


This post was edited on 5/15 at 5:25 pm



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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
8774 posts

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


I doubt it will do them much good.


The finance and relocation committees have already given a thumbs-down on this sale.

All this may do is give Ballmer a foot up on buying the Milwaukee Bucks from former Sen. Herb Kohl, as it is one of the only other teams on the market.






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mattz1122
Houston Fan
Member since Oct 2007
29288 posts

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


Allowing the Bucks to move to Seattle would do wonders for Cole's legacy in Wisconsin.





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TDawg1313
Washington Fan
WA
Member since Jul 2009
9527 posts

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


quote:

I doubt it will do them much good.


The finance and relocation committees have already given a thumbs-down on this sale.

They voted down relocation, but not the sale. Can the NBA force the Maloofs to sell the team for $100 million less to the Sacramento people? They were already a little short on the previous bid.






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Fun Bunch
New Orleans Pelicans Fan
New Orleans
Member since May 2008
27667 posts

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


That's almost double what the Hornets went for like a year ago.

There's no way the BoG can turn that down if its a legit offer.






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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
8774 posts

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


quote:

Can the NBA force the Maloofs to sell the team for $100 million less to the Sacramento people? They were already a little short on the previous bid.


I'd normally say "No", but I think the amount of sympathy the other owners have for the Maloofs is pretty small.

They may force this if only because the Maloofs have the choice between taking the smaller deal from the Sacramento group or going insolvent thanks to the money woes from other investments, like casinos.






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ShoeBang
New Orleans Pelicans Fan
Member since May 2012
4621 posts

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


Let the bucks go to SEA into the western conf and let the Pels move into the eastern conf where they rightfully belong IMO





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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
8774 posts

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


quote:

Let the bucks go to SEA into the western conf and let the Pels move into the eastern conf where they rightfully belong IMO


If Milwaukee moves to Seattle, I'd say there is a 50-50 shot of that. The other possible team moving would be Memphis, which could fit into the Bucks' old spot against Chicago, Cleveland, Detroit, and Indiana.






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Fun Bunch
New Orleans Pelicans Fan
New Orleans
Member since May 2008
27667 posts

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


Yeah it would either be Memphis or New Orleans.

This sale would single-handedly raise the value of all of their organizations. I'm shocked they are sticking with Sac.

If Sac moved to Seattle they wouldn't have to shift anyone.

If Milwaukee did there would have to be some serious shuffling.






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kfizzle85
LSU Fan
en oh, el ay
Member since Dec 2005
21105 posts

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


No, it just further proves the point that franchises aren't bought to make money, they're bought as playtoys of super rich people. This isn't a "valuation." Having worked on actual valuations for franchises and seen numerous actual major pro sports franchises financials, I can matter of factly tell you that purchase prices are normalized for (what we at least dubbed them) "luxury premiums."





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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
23339 posts

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


This is really getting interesting-

1) The new deal includes a $115 million relocation fee ($4 million for each owner)

2) Maloofs announce if the deal doesn't go through they won't sell to the Sacramento group, instead they would sell 20% of the team to the Seattle group for $125 million & still run the team.


ESPN






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saintsfan22
New Orleans Pelicans Fan
baton rouge
Member since May 2006
27505 posts

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


quote:

2) Maloofs announce if the deal doesn't go through they won't sell to the Sacramento group, instead they would sell 20% of the team to the Seattle group for $125 million & still run the team.



So when does someone in Sacto just off them?






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Walking the Earth
Member since Feb 2013
4312 posts

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


Stern & pals need to accept the fact that the Maloofs are going to be big winners in this either way and let them sell to any group they want.







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TDawg1313
Washington Fan
WA
Member since Jul 2009
9527 posts

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


You have a whole city in Sacramento that hates the owners. The Maloofs hate them back and don't want to deal with them at all. If the Maloofs will only sell to the Seattle group, how does the NBA stop that?

Also, there was an interesting article on ESPN a day or two ago that said Phil Jackson is waiting to see what happens with the Kings. Apparently he hit it off with Chris Hansen and wants to be a part of the Sonics if they come back. I'll link the article in a few minutes.

ETA: Here's the link LINK



This post was edited on 5/11 at 10:10 pm


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castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
28900 posts

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


I'm confused didn't they just vote on this a week or so ago?

Or do they have a vote every time an offer is made?






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TDawg1313
Washington Fan
WA
Member since Jul 2009
9527 posts

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


quote:

I'm confused didn't they just vote on this a week or so ago?

Or do they have a vote every time an offer is made?

They had a "recommendation" vote. Only 7 people voted and all 30 owners have to vote for it to be final, which will happen on Wednesday. They claimed the first vote was unanimous 12-0, but in reality only 7 people voted and it was a 4-3 vote. The 3 were asked to switch their votes to show unanimity.

The popular theory out there is that Stern wanted to make it seem like a done deal so the Seattle group would back out, but it only made them push further. He really does not want them to move to Seattle.



This post was edited on 5/11 at 10:14 pm


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corndeaux
New Orleans Pelicans Fan
Member since Sep 2009
5671 posts

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


quote:

If the Maloofs will only sell to the Seattle group, how does the NBA stop that? 


The NBA has to approve the sale- even for a minority share. I doubt Stern et al give a frick about what the Maloofs want at this point.

The Mickey Arison Twitter exchange is a good line on what the committe is thinking. Its not about Seattle. Its about Sacramento stepping up and doing everything the NBA asked for 2 years now

As for the 4-3 vote, that's not a fact at all. The guy who broke it is, big shocker here, a Seattle reporter. The NBA has already called it a "total fabrication."






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hsfolk
Louisiana Tech Fan
West Monroe
Member since Sep 2009
7494 posts

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


wouldn't moving Minnesota to the East make more sense?





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JabarkusRussell
Member since Jul 2009
9940 posts

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


quote:

Yeah it would either be Memphis or New Orleans.


Tennessee is in the Southeastern Conference yet the West in the NBA. Makes no damn sense.






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Akit1
LSU Fan
Baton Rouge, LA
Member since Jul 2006
4252 posts

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


I'd love for Seattle to get a team, but Sacramento is a huge underdog.





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