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Thread: Rumors coming from Seattle that the Maloofs have sold the Kings

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    Member Il Ragionier Ugo Fantozzi's Avatar
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    Default Rumors coming from Seattle that the Maloofs have sold the Kings

    https://twitter.com/PaulNovakSSC/sta...07614979493888
    Rumors coming from @ArenaSeattle that the Maloofs have sold the Kings to Seattle. Could be what Mayor McGinn's press conference is about.

    To recap: Daina Falk (@TheHungryFan) started the Kings-sold-to-Seattle rumors. Daina is the daughter of NBA agent David Falk.

    http://twitter.com/realpaulreindl
    RUMOR has it that the Maloofs sold to Seattle!!!!! Just a rumor, but Mayor McGinn has a press conference tomorrow. Can't wait to wake up!!
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    If this were true, on the one hand I'm really happy for Seattle, on the other hand, they've gone from a young Kevin Durrant on their team to a young DeMarcus Cousins on their team. Poor guys.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    I feel awful for Sacramento, but great for Seattle if true. Sacto's got a great, loyal fanbase, small as it may be.

    also, Virginia Beach has ended their pursuit of the Kings. pretty convenient timing.
    http://www.sactownroyalty.com/2013/1...virginia-beach

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Selling to the city itself, not sure how I would feel if Indy actually bought the Pacers, but I guess at least you know the team wouldn't move.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Did the Maloofs just pull an Irsay?

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Quote Originally Posted by Eleazar View Post
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    Selling to the city itself, not sure how I would feel if Indy actually bought the Pacers, but I guess at least you know the team wouldn't move.
    There's not a chance in hell the actual municipality is buying the team. They wouldn't build an arena, they're not using public funds to buy a franchise.

    Also, Virginia Beach is out 1.2 million dollars of public money just from trying to get a team. And it was a SWEETHEART deal. The Maloofs are awful.
    Last edited by Heisenberg; 01-09-2013 at 09:24 AM.

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    Administrator Roaming Gnome's Avatar
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    George Maloof’s Virginia Beach arena ploy falls apart, Seattle rumors heat up
    By Aaron Bruski | NBC Sports
    http://probasketballtalk.nbcsports.c...y-falls-apart/

    We never took the Maloofs or Virginia Beach seriously in their talks to move the Sacramento Kings to the eastern seaboard, and predictably the talks officially fell apart when Virginia Beach mayor Will Sessoms declared the deal dead for now on Tuesday.

    There were a million reasons this deal was a farce – a sad ploy to manufacture leverage in George Maloof and his family’s ongoing attempt at getting something for nothing in an arena deal.

    Still though, this marks the end for yet another painful chapter for Kings fans, who have endured as much uncertainty and shenanigans as any fan base on this side of Seattle. And as we learned late Tuesday night, the next chapter has already begun.

    Super agent David Falk’s daughter Daina tweeted yesterday that Seattle billionaire Chris Hansen has already come to an agreement with the Maloofs to buy the Kings, calling it a “done deal.” Since those rumors hit the Twittersphere, she backed off a bit on her Facebook page and connected Seattle writer Chris Daniels wasn’t in a hurry to address the “rumors” last night, adding that “it isn’t over until it’s over” and that’s a point of agreement here.

    First off, the idea that a deal is closed is premature since the Board of Governors would have to approve it and that clearly hasn’t happened, let alone with a relocation request attached. Of course, a deal could be being negotiated in the background between the Maloofs and Hansen with or without the NBA’s participation, and she may be referring to some step in that process, but until she comments further or the next shoe drops this is mere speculation from a potential, albeit unlikely information source.

    Either way, we’ll learn a lot in the next 24 hours as the various parties each respond to requests for comment at the start of business today.

    As for the Maloofs, Tuesday’s Virginia Beach developments put them back at square one and they are running out of time and money to make their final move. They will either need to come up with a lot more money than they have right now to run a basketball team in the Sacramento market – a market that they torch regularly with their antics – or sell the team and that brings us back to where we were in early September.

    For Seattle to ironically take the Kings from Sacramento, Chris Hansen will need to drastically overpay to purchase and move the franchise, and if the notoriously deliberate businessman wants to do that then the NBA will still need to get behind the deal.

    Given the fact that Sacramento has come up with a “model offer of public funds” according to one league source, a decision to allow the team to move will not be made lightly, as it will necessarily hurt the league in its negotiations with cities for future arena subsidies.

    In this case, the city of Sacramento has done everything the league could ask for and then some to help build an arena. The implication is that the league is asking cities for long-term investments of public dollars, but not providing a reasonable expectation of a long-term partnership so long as that city continues to provide reasonable partnership dollars into the future.

    The part that is most threatening for the league in this scenario is how publicly embarrassing the Maloof family has become to the NBA, creating a real-life equivalent to the movie Major League, and in this day and age of information those images are exponentially more accessible to the public than they have been in previous arena quagmires.

    With the league and its players receiving $3 billion dollars in arena subsidy money since 1990, any shift in public sentiment or political resistance on the issue could cost the league an unfathomable amount.

    If Hansen won’t pay drastically more than Sacramento, then the Maloofs will likely need to sell to one of a handful of serious buyers out of California’s capitol city that are ready to buy the team right now.

    It’s theoretically possible that another city could come into play, but given the fact that Sacramento is a one-sport town with the No. 20 TV market – chances are moving the franchise won’t make sense for the league or a new owner.

    George and his siblings can’t simply do nothing, as the sky is falling at Sleep Train Arena and it’s anybody’s guess when it won’t be suitable for NBA games. This situation will come to a head and the only question is when the family gives up.

    And until the NBA effectively finds a way to nudge George Maloof and his siblings out of their clubhouses, they will continue to panhandle for arena money at the expense of the logo.

    We’ll get an update to you guys as soon as we learn whether or not this Seattle rumor has any legs.
    ...Still "flying casual"
    @roaminggnome74

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Seattle basketball fans have got to be ecstatic about this but I feel bad about any city losing their franchise. The Kings suck pretty bad though and changing cities won't help that.
    "I've got an idea--an idea so smart that my head would explode if I even began to know what I'm talking about." - Peter Griffin

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    George Hill Apologist mattie's Avatar
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Sacramento gets ****ed.
    Find me on the internets @mattiecolin

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    This is based on a since deleted tweet from an agent's daughter. That's it. I'm just sayin.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Quote Originally Posted by Heisenberg View Post
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    This is based on a since deleted tweet from an agent's daughter. That's it. I'm just sayin.
    Here is the tweet that was deleted as shown on the KingsFans forum...



    Turned into this...




    Sounds like someone got in way over their head with tossing a rumor out there. ie. Sounds like BS
    Last edited by Roaming Gnome; 01-09-2013 at 09:54 AM.
    ...Still "flying casual"
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Quote Originally Posted by Shade View Post
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    Did the Maloofs just pull an Irsay?
    Did Sacto threatened the Maloofs with an eminent domain?
    You **** up once, you lose two teeth

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    @WojYahooNBA: The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    @boogiecousins: Wow ...

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Why would so many of you call BS on the daughter of maybe the NBA's most powerful agent knowing how this was going down? lol

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    @WojYahooNBA: The deal will sell the Kings for approximately $500 million, with the Seattle group seeking relocation to Key Arena for the 2013-'14 season.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    This latest development made me think of the guy in Sonicsgate talking about how the only way to get the Sonics back was to break another city's heart. Start at the 1:53.41 mark.

    Last edited by TheRyanExpress; 01-09-2013 at 01:54 PM.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    There but for the grace of Herb (and Mel RIP) and the CIB go we...
    BillS

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    NaptownSeth is all feel Naptown_Seth's Avatar
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    NBA.com just ran the story on the scroll. It's from Wojnarowski's Twitter feed.

    Maloofs are selling to a Seattle based ownership, not Seattle itself. $500m sales price, Seattle group plans to relocate (duh), Key Arena in 13-14 season, the Seattle group is the Hansen-Ballmer led group.

    Deal is BEING FINALIZED.

    It's not a rumor. Looks like Gnome and I got up to the Kings game just in the nick of time.


    Edit to add one of Woj's Tweets:

    Adrian Wojnarowski@WojYahooNBA The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

    https://twitter.com/WojYahooNBA
    Last edited by Naptown_Seth; 01-09-2013 at 02:06 PM.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Hopefully they don't butcher the Sonics unis.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    At least the only franchise that's actually available to move is not going to waste by moving to Anaheim or Virginia Beach, but to Seattle.

    I feel sorry to the Sacramento fans though.

    ...That is if this is true though. The ownership transition alone takes awhile.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Quote Originally Posted by Trader Joe View Post
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    Hopefully they don't butcher the Sonics unis.
    I haven't paid close enough attention until now... will they be renamed the Sonics? That would be nice.

    I don't like it when franchises move, but this is the logical conclusion to getting a team out of a market they shouldn't be in now and into a market they never should have left.

    Two wrongs don't make a right, but I'm happy Seattle is getting a team again after the disasterous end of the Sonics up there. I wonder if OKC and the new SEA -assuming this goes through*- should be required to trade franchises? (Only slightly kidding.)



    *- should be obvious, but around here I guess you need to make the disclaimer.
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    And life itself, rushing over me
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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    If they aren't the Sonics then someone should back over their new owners with a bus.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Woj has tons of info coming out. 2 seasons in Key arena and then on to a new arena after that. NBA approval pending.

    He also mentioned people's nerves over Maloof's ability to back out of deals at the very last second. The names aren't on the dotted line just yet.

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    Default Re: Rumors coming from Seattle that the Maloofs have sold the Kings

    Quote Originally Posted by Trader Joe View Post
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    If they aren't the Sonics then someone should back over their new owners with a bus.
    Edit: Never mind, I thought the name belonged to the Thunder, but Seattle apparently could use the name:
    http://sports.espn.go.com/nba/news/story?id=3471503
    Last edited by Doddage; 01-09-2013 at 02:13 PM.

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