Sacramento Kings sold , moving to Seattle

[Haffa]

What issues arise BTW? He has always required BOG approval. What has changed?

 

[Haffa]

When we started this process everyone thought it was impossible. While this represents yet another obstacle to achieving our goal, I just wanted to reassure all of you that we have numerous options at our disposal and have absolutely no plans to give up. Impossible is nothing but a state of mind.

Hansen told us all in Jan he was "first and goal at the one".

 

[canberra_raiders2k2]

Wait so no sonics next season??? Oh man... Sick of not truely backing an nba team. Doesn't feel right.

 

[herbert henry1908]

But it's still not the record amount paid. Vivek and co have said they'll match his offer, and will put 50% into escrow (more than Hanson) by friday.

The $30 million non-refundable means what to the NBA? Sac bid has already said they'll match.

Where have they said they'll match ? Latest reports are they still haven't committed to matching.

And they 'say' they'll put money into escrow. But Hansen has put money in , months ago. Big difference.


The $30 million means something to the NBA as they aren't a law unto themselves. There are contract laws they have to abide by.

 

[herbert henry1908]

What issues arise BTW? He has always required BOG approval. What has changed?

The BOG hasn't yet voted on ownership or even had a recommendation from the finance committee. Only a recommendation from the relocation committee.

They are two separate issues.

The issues that arise are anti-trust issues regarding a legal contract in place between the maloofs and Hansen.

The NBA need a reason to reject an offer. The maloofs have a legal right to sell their ownership stake to who they want.


We could still end up with a situation of a Seattle ownership group owning the kings. Ala clay Bennett owning the sonics in Seattle before filing for relocation.

Another option would be the maloofs refuse to sell to the Vivek group.

 

[herbert henry1908]

Wait so no sonics next season??? Oh man... Sick of not truely backing an nba team. Doesn't feel right.

Looking very unlikely it will be next season.

I'm still fairly confident something will happen within the next few years though.

 

[dragonrickjs]

bring back the sonics how can anyone knock back 625 million

 

[herbert henry1908]

Yeah the Hansen/ballmer/Nordstrom group has upped their valuation of the kings by $75 million.

Meaning they will pay $406 million for the maloofs 65%.

The sac bid is still seemingly trying to find investors and has only put 50% into escrow as opposed the the Seattle bids 100%.

After the latest bid increase the maloofs would have to take 64 million less if they sell to the sac bid.

However the NBA can't force the maloofs to sell to them.

Vote on the sale to the Seattle group is scheduled for may 15th.

 

[herbert henry1908]

Its now being reported that if the NBA refuse the sale to the seattle group the maloofs will reject the sac group and instead move to sell 20% of the team to the seattle group.

 

[canberra_raiders2k2]

According to fox sports the NBA refused the sale.

 

[Haffa]

 

[Haffa]

We are staying in Sac town! Game over.

 

[Haffa]

Hope you get your expansion team soon, Herb.

Next phase for us, Bye Bye Maloofs.

 

[canberra_raiders2k2]

On what grounds was it refused?

f**k the nba. Sick of the hate Seattle receives.

 

[supercharger]

I don't think we will be seeing the sonics back anytime soon, Hansen would have to pay a billion dollars for an expansion team and there are no obvious candidates for relocation mayhaps the bucks but they arent going anywhere and i cant see Hansen's tactics in Sacramento working either.