Sacramento/Seattle Kings Update

[THE HCP]

ESPN-

SACRAMENTO, Calif. -- Mayor Kevin Johnson says Sacramento is back in the ballgame after announcing that two investors want to buy the NBA's Kings and build a downtown arena to stop the proposed move of the city's only major league sports team to Seattle.

Mark Mastrov, founder of 24 Hour Fitness, will submit a bid for the team to the NBA on Friday, Johnson said in a speech Thursday night. Mastrov was among the final bidders for the Golden State Warriors before Joe Lacob and Peter Guber bought the team for an NBA-record $450 million in 2010.

"I've been assured by the commissioner of the NBA that we will be given full consideration," said Johnson, Sacramento's two-term mayor and a former NBA All-Star.

It had been rumored for weeks that Mastrov would partner with Ron Burkle, the billionaire co-owner of the NHL's Pittsburgh Penguins, to buy the team. Instead Johnson said that Burkle will lead the effort to build a new downtown arena that he also hopes will lure back to Sacramento another WNBA franchise.

The city is hoping to revitalize downtown with an arena at the Downtown Plaza shopping mall owned by JMA Ventures, whose officers have said they are eager to participate.

Johnson has been scrambling to organize local ownership for the Kings after the Maloof family announced in January that it had an agreement to sell its 65 percent stake for $341 million to a group led by Microsoft executive Steve Ballmer and hedge fund manager Chris Hansen.

To show local support for the Kings, Johnson also lined up 20 local investors who each committed $1 million. They hope to buy the 7 percent share of the team now under control of a federal bankruptcy court.

One of those investors is former Sacramento Kings star Mitch Richmond, who was a 2013 Basketball Hall of Fame finalist.

"He will undoubtedly bring credibility to our efforts," Johnson said.

The NBA board of governors will make a decision on the sale by mid-April.

"With all due respect to Seattle, I do hope they get a team someday, but let me be perfectly clear it is not going to be this team," Johnson said. "Not our team. No way."

Earlier this month, commissioner David Stern said it was acceptable to think that the Kings could stay in Sacramento despite Seattle's strong bid.

"Oh, certainly it's plausible to me, but I don't have a vote," Stern said. "But I expect the owners to have a very open mind on this. And it isn't plausible yet to talk about it until the predicates have been fulfilled."

 

[THE HCP]

This team MIGHT not be moving to Seattle guys......

http://sports.yahoo.com/news/nba--s...bid-to-challenge-seattle-group-042956900.html

The proposed bid of 24-Hour Fitness founder Mark Mastrov and billionaire Ron Burkle to purchase the Sacramento Kings and construct a downtown arena has a chance to challenge a Seattle ownership's group to move the franchise.

Kevin Johnson has helped put together a bid to try to keep the Kings in Sacramento. (AP)
Mastrov and the local investors' bid is "slightly lower," than the $341 million that the Chris Hansen-Steve Ballmer group has agreed to pay for the available 65 percent of the Kings, a high-level source involved in the talks told Yahoo! Sports on Thursday night.
"They have a shot," the source said. "It's still a long shot, but the bid will be close enough to cause real debate."
With a Friday deadline for submitting a counter bid to the NBA to attempt to keep the Kings from moving, Sacramento mayor Kevin Johnson unveiled Mastrov as the principal investor in the city's plan to foil the Maloof family's signed agreement to sell to the Seattle group.
Burkle and the city have agreed on a deal to construct a new arena in the city's downtown. Johnson recruited $20 million in local investors to purchase 7 percent of the Kings' ownership stake available in bankruptcy court, as well as $50 million in business sponsorships over the next five years for the franchise.

Johnson and the ownership group have to convince NBA owners to vote against the ratification of the Maloof-Seattle agreement at the league's April 18 Board of Governors meeting in New York. The NBA has to approve the sale to the Seattle group, as well as the group's bid to relocate the Kings to Seattle for the 2013-14 season.
The Seattle group made payment on a $30 million deposit to the Maloofs in late January, sources confirmed. Seattle plans to build an arena for the team for the 2015-16 season, using KeyArena for the next two years to house the team.
The Seattle ownership group – which has been in frequent contact with NBA commissioner David Stern and the league office – has been operating with a belief that it will acquire the franchise and be granted the ability to move it to Seattle, sources told Y! Sports.
The Hansen-Ballmer group has been working to put together the business and basketball sides of the franchise, as well as the finalization of details on its new arena.

Nevertheless, Johnson was adamant on Thursday night that Sacramento has a plan in place to derail the franchise's move.
"…We are still very much in this game," Johnson said in a speech. "I hope Seattle gets a team someday. Let me be crystal clear: It's not going to be this team. Not our team. No way."

 

[THE HCP]

This is the first time we've heard that there is an actual bid from Sac-area investors and that's it's LESS than the Seattle offer.

 

[THE HCP]

Isn't it up to the Maloofs who they sell the team to?

 

[blue9]

the billionaire co-owner of the NHL's Pittsburgh Penguins

I remember when there was talk about bringing the Penguins to Portland. That was the only pro-sports addition to Portland that I would have liked to see.

 

[porkchopexpress]

Why didn't these 'local' investors step up anytime in the past 3 years. Everyone knew the Maloofs were going to sell and/or move the team. I don't think it'll work though. Steve Balmer is worth 16B. If he wants the team, he'll get it.

 

[THE HCP]

I remember when there was talk about bringing the Penguins to Portland. That was the only pro-sports addition to Portland that I would have liked to see.

The RG was built with the Penguins coming here in mind. It is NHL ready.

 

[blue9]

Isn't it up to the Maloofs who they sell the team to?

Not entirely. I believe that the other owners have to approve the sale. Or some governing body in the NBA has some sort of say.

 

[THE HCP]

Why didn't these 'local' investors step up anytime in the past 3 years. Everyone knew the Maloofs were going to sell and/or move the team. I don't think it'll work though. Steve Balmer is worth 16B. If he wants the team, he'll get it.

I hope it becomes a bidding war and the Seattle guys just outbid them.

 

[porkchopexpress]

I hope it becomes a bidding war and the Seattle guys just outbid them.

Well, going off what you quoted, they already did. I have a feeling these guys just want to look good. "See, we tried to save the Kings".

 

[Mediocre Man]

The RG was built with the Penguins coming here in mind. It is NHL ready.

Everything but the owner is NHL ready

 

[EL PRESIDENTE]

Go sacramento! Fuck seattle!

{Poasted via palm pilot}

 

[Sedatedfork]

I could go either way about it. Living in Seattle it would be cool to see the Blazers play a couple times a year and it would be good to have the Sonics back, but I would feel bad for any city getting its team taken.

 

[Sedatedfork]

Everything but the owner is NHL ready

HCP is goalie ready.

 

[EL PRESIDENTE]

I kind of feel that Seattle just dropped the ball, along with Bennet and Co. being a douchebag...and if Sac wants to keep their team with the support of local government and fans and investors, they should.

Watching sonicsgate, I felt a lot of the blame for the loss of the Sonics fell with the shitty government they had up there.

 

[Sedatedfork]

I kind of feel that Seattle just dropped the ball, along with Bennet and Co. being a douchebag...and if Sac wants to keep their team with the support of local government and fans and investors, they should.

Watching sonicsgate, I felt a lot of the blame for the loss of the Sonics fell with the shitty government they had up there.

That's fair. But, the blame was also on Howard Schultz who essentially did the same thing that the Maloofs are doing. However, Hansen's group is transparent that their goal is to relocate the team. Whereas Clay Bennett claimed he wasn't going to move the team unless he had to move the team.

 

[EL PRESIDENTE]

Yeah, they were dicks about it too. But the way Sonicsgate went, it seems to me local politicians in Seattle were probably paid off to lay down and take it. I like Kevin Johnson's effort. If he is able to save Sacramento, they should retire HIS number in the rafters. hah.

 

[porkchopexpress]

I kind of feel that Seattle just dropped the ball, along with Bennet and Co. being a douchebag...and if Sac wants to keep their team with the support of local government and fans and investors, they should.

Watching sonicsgate, I felt a lot of the blame for the loss of the Sonics fell with the shitty government they had up there.

In general I agree that if there is an owner that wants to buy them and keep the team in Sac, then that is ideal. But I still dont get why no one stepped up until now. For 2 or 3 years it's been known that the Maloofs were either moving or selling the team. LV, Virginina Beach and Seattle were all possible destinations. Yet no one from the area (or anyone who wanted to keep them there) makes any offer to keep them in Sac. Now that the move to Seattle is basically a done deal, these guys pop up. And they offer less money. It doesn't seem like a legitimate offer to me. Just something to make them look good and make it seem like KJ had a deal in place to keep them around. I could be wrong about all that though.

 

[tlongII]

In general I agree that if there is an owner that wants to buy them and keep the team in Sac, then that is ideal. But I still dont get why no one stepped up until now. For 2 or 3 years it's been known that the Maloofs were either moving or selling the team. LV, Virginina Beach and Seattle were all possible destinations. Yet no one from the area (or anyone who wanted to keep them there) makes any offer to keep them in Sac. Now that the move to Seattle is basically a done deal, these guys pop up. And they offer less money. It doesn't seem like a legitimate offer to me. Just something to make them look good and make it seem like KJ had a deal in place to keep them around. I could be wrong about all that though.

I agree with this. Repped.

 

[julius]

In general I agree that if there is an owner that wants to buy them and keep the team in Sac, then that is ideal. But I still dont get why no one stepped up until now. For 2 or 3 years it's been known that the Maloofs were either moving or selling the team. LV, Virginina Beach and Seattle were all possible destinations. Yet no one from the area (or anyone who wanted to keep them there) makes any offer to keep them in Sac. Now that the move to Seattle is basically a done deal, these guys pop up. And they offer less money. It doesn't seem like a legitimate offer to me. Just something to make them look good and make it seem like KJ had a deal in place to keep them around. I could be wrong about all that though.

similar events happened when Paul Allen was going to 'sell' the team a few years back. No one thought he was serious, or figured the team would just be moving (maybe).

I assume thats the same scenario in Sacramento.

 

[porkchopexpress]

similar events happened when Paul Allen was going to 'sell' the team a few years back. No one thought he was serious, or figured the team would just be moving (maybe).

I assume thats the same scenario in Sacramento.

Except they're pretty much broke (for rich guy standards). But yeah, that could be the case. I can't say I've paid all that much attention to it over the years.

 

[Mediocre Man]

HCP is goalie ready.

I heard he likes it through the 5 hole

 

[THE HCP]

http://sportsillustrated.cnn.com/nba/news/20130311/sacramento-kings-seattle-tickets/

SEATTLE (AP) -- The prospective owner of the Sacramento Kings is calling on fans in Seattle to sign up for a "priority ticket waitlist" as a way to show the NBA how much interest there is in bringing pro basketball back to the area.


Read More: http://sportsillustrated.cnn.com/nba/news/20130311/sacramento-kings-seattle-tickets/#ixzz2NLc8OGCT

 

[THE HCP]

more

The NBA Board of Governors will convene April 18, when a vote is expected to take place on the sale and relocation of the Kings franchise. A sale of a franchise requires a three-fourths majority approval of owners, while relocation requires just a simple majority.
Hansen said efforts would be made to contact former season ticket holders from the final season of the Seattle SuperSonics in 2007-08 and provide them a chance at their same seats should a team return. Hansen's proposal calls for the team to play up to three seasons at KeyArena while a new arena is being constructed.


Read More: http://sportsillustrated.cnn.com/nba/news/20130311/sacramento-kings-seattle-tickets/#ixzz2NLcPEcQV

 

[HailBlazers]

"A sale of a franchise requires a three-fourths majority approval of owners, while relocation requires just a simple majority."

Kinda F-ed up, no?

 

[Eastoff]

I think it would be pretty funny if they stayed in Sacramento. Seattle fans would HOWL!!!!

 

[THE HCP]

I'm more confused after reading this article......

http://www.oregonlive.com/nba/index.ssf/2013/03/sacramento_mayor_kevin_johnson_1.html

Sacramento's effort to keep the Kings in California took what the Sacramento Bee called “a dramatic detour” Thursday as a new lead bidder for the team emerged and the city missed its self-imposed deadline for wrapping up an agreement on terms for a new downtown arena.

The dual developments, announced within minutes of each other during a chaotic afternoon, suggested that Sacramento is laboring to finish its plan to keep the Kings from moving to Seattle.

And time is running out.

Any arena plan must be approved first by the City Council, and then Sacramento—led by former NBA player and current mayor Kevin Johnson—has to pitch its proposal to a group of key NBA owners in less than two weeks.

Still, city officials say they're confident they'll get a deal done, the Bee reported.

Meantime, Vivek Ranadive, an Indian-born resident of Silicon Valley who made a fortune in software, was introduced as the man who will lead the bid for the team, taking over from 24 Hour Fitness co-founder Mark Mastrov.

According to the Bee, which cited an unidentified source familiar with the situation, the NBA described Mastrov’s initial bid for the Kings as inadequate. He’ll remain a major partner in the bid now headed by Ranadive, who currently is a part-owner of the Golden State Warriors.

The third investor in Sacramento’s effort, billionaire Ron Burkle, was continuing to negotiate a deal with city officials on a new arena at Downtown Plaza.

But in a development the Bee called “somewhat unsettling” for the city, the sides were unable Thursday to complete the term sheet outlining the city's subsidy and other elements of an arena deal.

That document was supposed to have been released to the public in Thursday afternoon.

 

[THE HCP]

This is a nice read

http://www.thenewstribune.com/2013/03/23/2526939/campaigning-for-the-kings-sacramento.html

The purple, black and white RV looks more suited for transporting a politician during a campaign in California's capital city than for fans to use to petition fans outside an NBA arena.

"Fighting for our city, our fans and our Sacramento Kings," reads lettering across one side.

Dave Weiglein, best known around these parts as sports radio commentator Carmichael Dave, has been leading grass-roots efforts for more than two years to keep his city's only major professional sports team from leaving.

Once again, his latest plan could be his last.

Starting at Sacramento's 116-101 home win over the Los Angeles Clippers on Tuesday night, his "Playing To Win Tour" is scheduled to stop at games in around 20 NBA cities to campaign for Sacramento's cause. He also plans to stop in New York on April 3 Ñ when league owners will allow a Sacramento group to discuss a counteroffer to a pending purchase agreement with a Seattle group Ñ and circle back to Manhattan when the NBA Board of Governors meets April 18-19. That's when a vote is expected on the franchise's fate.

"This is all we have," Dave said. "I understand that we are not a destination city. Nobody wins the Showcase Showdown on The Price Is Right and gets an all-expenses paid trip to Sacramento. This is bigger than basketball."

As much as the NBA has tried to steer the conversation away from a tug-of-war between cities, there is no denying what this fight feels like for fans involved: Sacramento vs. Seattle.

While billionaires bid on both sides and public relations strategists mix messages, the most ardent fans are rallying for civic pride and economic prosperity. About the only certainty might be in the words of NBA Commissioner David Stern during February's address at the All-Star Game in Houston.

"I don't see any scenario," Stern said, "where both cities are happy."

All of this sounds so familiar in Seattle.

Back in 2008, Clay Bennett moved the SuperSonics to Oklahoma City, tossing aside the green and gold to transform the team into the Thunder. The move crushed Sonics fans, many of whom are still stunned that the team left after 41 years.

Jason Reid, who was raised in north Seattle, can recall the slams Sonics great Shawn Kemp threw down in dunk contests in the early 1990s. He graduated from high school during the Sonics' captivating run to the NBA Finals in 1996, won by Michael Jordan's Chicago Bulls in six games. Gary Payton was Reid's favorite player because "he didn't take (anything) from anyone and he brought it every night."

Those memories are all Reid has now.

Along with co-director Adam Brown, Reid chronicled the team's departure in the critically acclaimed documentary "Sonicsgate." The film ends with a quote from writer Sherman Alexie that speaks to the current Seattle sentiment.

"To get a team I'm going to have to break the hearts of people just like me," Alexie said. "And that's the only way we're ever going to get a team."

"The whole thing has been pretty bizarre for Sonics fans," Reid said. "On one side, we desperately want the Sonics back. It's everything we've been doing for the past 6½ years between trying to save the team, then trying to rally to bring a team back. At the same time, our wounds our very fresh. So we completely identify and sympathize with what Sacramento fans are going through right now. I think part of us, even though our end goals are opposing, are rooting for them as fans."

Sacramento supporters argue that some Seattle fans are perpetuating the system they had long protested against after the Sonics departed. The debate has raged on across social media since the Kings' pending sale agreement to a group that would move the team to Seattle was announced in January.

Dave called Seattle fans willing to take the Kings "hypocrites." He compared the effort to a divorced man stealing his best friend's wife and justifying it as "the only way I can get me a woman" after five years.

Even with those strong beliefs, he admits "if the Kings were to leave, the moment that another NBA team presented itself, you'll see me all over the place begging for that team and not caring about that city," Dave said.

The campaign for the Kings goes to the highest levels.

A Sacramento group called "Here We Buy" established a website to pledge to buy season tickets "to illustrate to the NBA that Sacramento is still a viable market, even in the face of adversity." Hedge-fund manager Chris Hansen, who along with Microsoft Chief Executive Steve Ballmer has the signed agreement with the Maloof family to buy the Kings, countered with "priority ticket waitlist" for his proposed Seattle arena as a way to show the NBA how much interest there is in bringing pro basketball back to the Emerald City.

Sacramento Mayor Kevin Johnson, a former NBA All-Star, has been announcing details of a counteroffer and pushing a new arena plan, which includes the backing of 24 Hour Fitness founder Mark Mastrov, billionaire grocery tycoon Ron Burkle and possibly others.

Think Big Sacramento, Johnson's task force, took the tussle even further earlier this month when it put out a report highlighting areas where Sacramento outperforms Seattle.

Among the contentions: Sacramento attracted more fans in 20 of the 23 seasons both cities had NBA teams. The NBA also would own a 100 percent market share in Sacramento, while the league would compete with the NFL (Seahawks), MLB (Mariners) and MLS (Sounders) in Seattle and possibly a future NHL team. According to the latest Nielsen ratings, the Seattle-Tacoma region is the 12th biggest television market in the country, while Sacramento-Modesto-Stockton ranks 20th.

David Carter, director of the Sports Business Institute at the University of Southern California, said all these efforts Ñ whether by fans or professionals Ñ might still be futile. He said the NBA will be focusing more on the long-term economic outlook, TV revenue and corporate contributions each city offers.

"I am not sure how much of a difference it will ultimately make if the business plan and strategy are sound and appear to deliver a profitable outcome, including the growing of franchise value," Carter said.

At this point, its hurts for either side to even imagine losing out.

While Dave recognizes his trip may have minimal impact on NBA owners, he refuses to rest at home while there's still a decision to be made.

"There is so much development and jobs in my city tied to this. If we lose this team, we lose the starting point," Dave said. "We are willing to go out and kill ourselves to show other cities and other owners that this is more than just our team. This is our livelihood."

Read more here: http://www.thenewstribune.com/2013/...g-for-the-kings-sacramento.html#storylink=cpy

 

[THE HCP]

usatoday

The group of investors hoping to buy the Kings and keep them from being moved to Seattle have agreed on a deal with the city of Sacramento for a new bid that will be submitted to the NBA at an April 3 meeting in New York.
The agreement was announced via Twitter by Sacramento mayor and former NBA point guard Kevin Johnson on Saturday night. The group of private investors includes the lead money man on the team side, Golden State Warriors minority owner Vivek Ranadive, as well as 24 Hour Fitness founder Mark Mastrov and Ron Burkle, the supermarket mogul and part owner of the NHL’s Pittsburgh Penguins who is the lead investor on a new downtown Sacramento arena plan that is considered a prerequisite to the team having any chance of staying put.
A person with knowledge of the situation revealed details of the deal. The person spoke to USA TODAY Sports on the condition of anonymity because the deal had not been announced.
Between the proposed purchase of the team, the investment in the downtown plaza arena and related real estate development around the site, Ranadive, Mastrov and Burkle will be investing nearly a billion dollars. While the specific figure of the offer for the team is not yet known, $190 million of the investment is in the arena. That sum is $58 million more than the $132 million put forth by the NBA and the Maloof family that owns the team in a 2012 arena deal that would have put the arena in the city’s railyards but fell apart when the Maloofs were no longer comfortable with the handshake agreement.
As was the case in that arrangement, the city of Sacramento will contribute $258 million from revenues raised through the sale of city parking structures and land to private parties and ticket surcharges. The person said the city’s general fund would be protected and no new taxes would be involved.
The Seattle group led by Microsoft CEO Steve Ballmer and hedge fund manager Chris Hansen has an agreement in place to buy 65% of the team from the Maloofs … [For more on Sacramento group finalizes its bid to keep the Kings, click here.]

Read more at http://www.hoopsworld.com/sacramento-group-finalizes-its-bid-to-keep-the-kings/#7O4oZBSht082mcVB.99

 

[julius]

usatoday

whats odd is I swear I read somewhere it was a "billion dollar deal", but the #'s don't seem to ad up.