Seattle SuperSonics Thread

[Deleted member 38182]

idk what to believe.....does come off those w/ sacro connections are in denial though 

and having folks close to Seattle report the deal is done like 4 times now is? 

 

[Deleted member 38182]

Also, what do the Maloofs have to gain by leaking out this info before February?

They sure as hell don't want to give Sac/KJ/Fans to file lawsuits, a chance to mobilize, and boycott games.

 

[dmbrhs]

 I read that douchey quote from Jason Terry, but that was about all the negative quotes I read from players. 

But I guess its an easy conclusion to come to. Sacramento has never been a free agent destination tho, we all know this. 
and I stated how this isn't really an option. However as little 'contraction' talks as there have been, there has also been as expansion talk.

even from Hansen himself.
Well, all things considered. Lets just say the deal is for $500 mil. 200 mil of that deal is going into the debt. On top of that, they are only 43% owners of the Kings.... 43% of that 300 mil is 130 mil.... split between the 5 sibblings, thats only $25 mil each 
I'm with ya, but at the end of the day is the Maloofs snakey ***' fault

Papa Maloof is rollin' in his grave...five times, once for each knucklehead kid.

 

[Maximus Meridius]

Robbing Peter to pay Paul like a MFer. Even though the Kings have been irrelevant for a while the early 00's team will always be appreciated. They woulda won a ring if it wasn't for the Lakers dynasty.

 

[lightweight champion]

Matt Steinmetz of CSN Bay Area is reporting the deal is finalized for $525 million. Maloofs completely out of ownership.

 

[Deleted member 38182]

this is important to note... since most Sac media is well connected with the local minority owners

via Sam Amick

A person with knowledge of the Kings situation told USA TODAY Sports that the minority owners of the team haven't been informed of the sale as of early Wednesday afternoon. The person spoke on condition of anonymity because of the sensitivity of the situation. The person said terms of the ownership agreement dictate minority owners must be told before a sale is complete.

 

[Johnny_Cakes]

For Steinmetz to get it wrong in his own home area... that would turn out poorly for him.

 

[Deleted member 38182]

For Steinmetz to get it wrong in his own home area... that would turn out poorly for him.

Hasn't the deal been reported as done, at least like 3 times now? 

and is Steinmentz from the NW?? I always thought he was a bay area guy 

 

[Johnny_Cakes]

For Steinmetz to get it wrong in his own home area... that would turn out poorly for him.

Hasn't the deal been reported as done, at least like 3 times now? 

and is Steinmentz from the NW?? I always thought he was a bay area guy 

I meant that him reporting on a local team leaving as a done deal is big. If he's wrong, will Kings fans ever let him forget it?

 

[Deleted member 38182]

For Steinmetz to get it wrong in his own home area... that would turn out poorly for him.

Hasn't the deal been reported as done, at least like 3 times now? 

and is Steinmentz from the NW?? I always thought he was a bay area guy 

I meant that him reporting on a local team leaving as a done deal is big. If he's wrong, will Kings fans ever let him forget it?

Ohhh he's CSN Bay Area. I don't really consider that local IMO.

Local Sac radio is butt hurt that Woj won't come on the air in Sac 

Steinmentz will be on KHTK (you can stream online) in the next few minutes, if yall wanna listen

 

[Deleted member 38182]

going thru my childhood basketball card collection and plucking out all Sonics and Kings cards. 

Sad feeling man 

 

[pmatic]

Kings sold to Seattle group, says unconfirmed report

With the fate of the Sacramento Kings seemingly changing by the hour, the organization had no comment on a report this morning that the team has been sold to a Seattle group.

A tweet from a Comcast Sports Bay Area NBA analyst this morning said the team had been sold for $525 million to a group led by hedge-fund manager Chris Hansen. A representative for Hansen in Seattle could not immediately be reached for comment.

Eric Rose, a Kings spokesman, said, "Nothing has changed with our position that we will not comment on rumors or speculation about the Sacramento Kings franchise."

Sources have told The Bee as recently as Thursday that the owners of the franchise - the Maloof family - still had not received a formal offer for the team, but was expecting an offer very soon.

Richard Benvenuti, a limited partner in the franchise, said this morning he had not been told of a sale.

"We haven't heard anything about it," Benvenuti said. His family owns 15 percent of the team.

If the team is sold and the deal is approved by NBA owners, the Kings would move to Seattle next season. The team would play at old KeyArena for two years and then move into a new arena.

Hansen's group, which includes Microsoft executive Steve Ballmer and members of the Nordstrom family, has a tentative deal with the city and King County to build a $490 million arena south of downtown.

Sacramento Mayor Kevin Johnson this week pledged to find a competing offer from a buyer who would keep the Kings in town. He said he has stayed in touch with billionaire Ron Burkle, whose effort to buy the Kings two years ago was angrily rejected by the Maloofs.

City Hall officials had no comment on the latest report of a done deal.

Thursday evening, NBA Commissioner David Stern said it would be reasonable to give Burkle a chance to match Hansen's offer. Officials with the league couldn't be reached for comment today.

Until this week, the Maloofs have insisted the team isn't for sale. But sources say they've warmed up to the idea of selling the financially troubled franchise. The Kings are more than $200 million in debt and are on track to lose $6 million to $7 million this year, according to sources.

The team's status in Sacramento became uncertain after the Maloofs abandoned a tentative plan to build a new downtown arena last spring.

Link

 

[dmbrhs]

Jessamyn McIntyre ‏@JessamynESPN
Just now @MSteinmetzCSN tells @710ESPNSeattle this is 'a done deal.' "If it isn't signed today, it will be signed this weekend." #Sonics

Jessamyn McIntyre ‏@JessamynESPN
CSN's @MSteinmetzCSN tells @710ESPNSeattle a deal to sell the #Kings to Hansen in Seattle will likely be announced early next week. #Sonics

Jessamyn McIntyre ‏@JessamynESPN
CSN's @MSteinmetzCSN on Maloofs negotiation: "Cooler heads in the family prevailed, and (the Maloofs) just said, 'it's time to get out'."

 

[Deleted member 38182]

^You listen to Steinmentz on KHTK just now??

 

[dmbrhs]

Nah, that's what he just told ESPN Seattle.

 

[Deleted member 38182]

dang that guy moves quick!

 

[tramericanjr]

Robbing Peter to pay Paul like a MFer. Even though the Kings have been irrelevant for a while the early 00's team will always be appreciated. They woulda won a ring if it wasn't for the REFEREES .

 

[Deleted member 38182]

Someone post Ken Berger's tweet... I'm on my phone

 

[lightweight champion]

Mark Mastrov, founder of 24-Hour Fitness, has publicly emerged as an interested buyer of the Kings and would keep them in Sacramento.

 

[jpzx]

Ken Berger ‏@KBergCBS
Potential buyer Mark Mastrov tells @CBSSports he wants to buy the #Kings and keep them in Sacramento. #NBA http://cbsprt.co/XXkpqV

 

[lightweight champion]

Potential Kings buyer emerges, would keep team in Sacramento
By Ken Berger | NBA Insider
January 11, 2013 5:03 pm ET

Even as the Maloof family negotiates with a Seattle group that would move the Kings there, another potential buyer who would keep the team in Sacramento has emerged, CBSSports.com has learned.
Mark Mastrov, the founder of 24-Hour Fitness who finished second to Joe Lacob and Peter Guber in bidding for the Warriors, told CBSSports.com Friday he has interest in buying the Kings and keeping the franchise in Sacramento.
"Definitely, there've been conversations," Mastrov said from his northern California office. "Definitely there's interest in acquiring the team and keeping it in Sacramento."
Mastrov met with the Maloofs recently, and two league sources speaking on condition of anonymity said he has made a formal offer.
Supermarket magnate Ron Burkle has long been interested in buying the Kings and keeping them in Sacramento, and is well known to NBA owners who would approve any sale. But having made it to the final round of the process with the Warriors sale, Mastrov is familiar with the NBA process and league executives are familiar with him.
A Seattle group led by hedge-fund manager Chris Hansen and Microsoft's Steve Ballmer is deep in negotiations to buy the team for upwards of $500 million and move it to Seattle. Those discussions are ongoing, and league sources indicate a formal deal has not been struck.
A fitness industry maven whose net worth is estimated at $350 million, Mastrov likely would not have to match the Seattle price dollar-for-dollar because of the complicated finances of breaking the arena lease and repaying a city loan of about $77 million. If the team stayed in Sacramento, the new owner would be able to assume the loan terms. A new owner who relocated the team would have to pay the loan back.
One person familiar with the lease and loan terms characterized that as "a fairly expensive and Herculean feat."
The NBA office declined comment on the Maloofs' private negotiations, though it is widely known that commissioner David Stern's strong preference is for the Kings to remain in Sacramento.

 

[dmbrhs]

dang that guy moves quick!

I happened to be in my car a bit ago and heard a full interview with KJR. Not much to add, other than he said Joe and Gavin were the ones who were willing to go down with the ship (whatever that means) because they're so infatuated with the NBA lifestyle and the family tradition of owning an NBA team, but other siblings told them to knock it off and face reality for once. He reiterated that a deal is not signed, but could be as early as today, and definitely by early next week. He was 100% certain on that, and 100% certain the Maloofs aren't gonna "Maloof", as they say.

Another important thing he said, is that the NBA will always make sure something they want to have happen, happens. And they aren't as keen on making sure things they don't want to have happen, happen. He said the NBA and Stern want a team in Seattle above all else right now. Think of it kind of like the NBA wanting a team in Oklahoma City. It didn't matter where it came from. They didn't want Seattle to lose a team, rather they wanted OKC to get a team. If that makes sense.

 

[Deleted member 38182]

Thanks, JPZ

I love it, Kings fans are posting pro-Sac news and Seattle folks are posting pro-Seattle news 

 

[Deleted member 38182]

dang that guy moves quick!

I happened to be in my car a bit ago and heard a full interview with KJR. Not much to add, other than he said Joe and Gavin were the ones who were willing to go down with the ship (whatever that means) because they're so infatuated with the NBA lifestyle and the family tradition of owning an NBA team, but other siblings told them to knock it off and face reality for once. He reiterated that a deal is not signed, but could be as early as today, and definitely by early next week. He was 100% certain on that, and 100% certain the Maloofs aren't gonna "Maloof", as they say.

Another important thing he said, is that the NBA will always make sure something they want to have happen, happens. And they aren't as keen on making sure things they don't want to have happen, happen. He said the NBA and Stern want a team in Seattle above all else right now. Think of it kind of like the NBA wanting a team in Oklahoma City. It didn't matter where it came from. They didn't want Seattle to lose a team, rather they wanted OKC to get a team. If that makes sense.

Ya, he was on KHTK just after he got on Seattle radio I think. He more or less said the same thing

 

[senorroboto2k5]

Think of it kind of like the NBA wanting a team in Oklahoma City. It didn't matter where it came from. They didn't want Seattle to lose a team, rather they wanted OKC to get a team. If that makes sense.

Makes total sense. Stern's biggest goal right now sounds like getting a team in Seattle. He doesn't want to leave his legacy as being the guy who let Seattle get robbed. He wants to right the ship. Unfortunately he has to do the same to Sacramento... but it just tells you he values the NBA in Seattle more.

He could've saved everyone the trouble by not letting his love affair with the OKC market blind him into letting the Sonics get plucked out of Seattle... but since he didn't, another market has to suffer.