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re: Kings/Sonics Saga Update: Kings stay, Seattle shut out
Posted on 5/15/13 at 5:23 pm to rt3
Posted on 5/15/13 at 5:23 pm to rt3
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.
Then he follows up by saying that there are no concrete plans for giving the Seattle group anything.
This post was edited on 5/15/13 at 5:24 pm
2
Posted on 5/15/13 at 5:33 pm to shuke33
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?
Posted on 5/15/13 at 7:10 pm to TDawg1313
Which owners voted for the move?
Posted on 5/15/13 at 7:26 pm to JabarkusRussell
I guess it is a safe bet that Paul Allen of the Blazers did.
Posted on 5/15/13 at 8:59 pm to TDawg1313
not surprising the owners voted this way, the NBA is tired of teams moving every 5 years
Posted on 5/15/13 at 10:45 pm to NorthshoreTiger76
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.
Seattle should never have lost theirs either. Since they did, I think expansion is the right answer. Screw teams moving every five years.
Posted on 5/15/13 at 10:59 pm to GumBro Jackson
+1
TDawg, I hope league does the right thing Seattle gets a franchise soon
TDawg, I hope league does the right thing Seattle gets a franchise soon
Posted on 5/15/13 at 11:19 pm to GumBro Jackson
dp
This post was edited on 5/15/13 at 11:21 pm
Posted on 5/15/13 at 11:46 pm to corndeaux
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?
Posted on 5/16/13 at 12:16 am to JabarkusRussell
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.
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 5/16/13 at 12:27 am
Posted on 5/16/13 at 12:34 am to TDawg1313
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.
Posted on 5/16/13 at 12:51 am to beaumont livingston
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 5/16/13 at 1:12 am
Posted on 5/16/13 at 1:01 am to TDawg1313
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.
Posted on 5/16/13 at 1:07 am to beaumont livingston
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.
Posted on 5/16/13 at 1:14 am to corndeaux
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.
Posted on 5/16/13 at 1:40 am to beaumont livingston
Whatever happened to capitalism and getting the most you can? I'm sure they will go to court over this.
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