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
9833 posts

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


beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
618 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
9961 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out
Which owners voted for the move?


teke184
LSU Fan
Zachary, LA
Member since Jan 2007
9074 posts

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
Houston Fan
#ClutchCity
Member since May 2009
44980 posts

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


GumBro Jackson
Auburn Fan
New Orleans
Member since Mar 2011
2065 posts
Online

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.


corndeaux
New Orleans Pelicans Fan
Member since Sep 2009
6262 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


corndeaux
New Orleans Pelicans Fan
Member since Sep 2009
6262 posts

re: Kings/Sonics Saga Update: Kings stay, Seattle shut out
dp
This post was edited on 5/15 at 11:21 pm


JabarkusRussell
Member since Jul 2009
9961 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?


TDawg1313
Washington Fan
WA
Member since Jul 2009
9833 posts

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


beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
618 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.


TDawg1313
Washington Fan
WA
Member since Jul 2009
9833 posts

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


beaumont livingston
New Orleans Saints Fan
Hollywood Blvd &Western
Member since Dec 2009
618 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.


TDawg1313
Washington Fan
WA
Member since Jul 2009
9833 posts

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
9833 posts

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
9961 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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