Agreement for new Seattle arena reached

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  • JODYE
    JB4MVP
    • May 2012
    • 4834

    #451
    Re: Agreement for new Seattle arena reached

    That seems like an awful deal no?

    Why would any team willingly give up close to $20 million in revenue after spending near $450 million on a new arena? Doesn't make sense to me.
    Cubs | Bulls | Dolphins | 'Noles
    The artist formerly known as "13"
    "Heroes get remembered, but legends never die..."


    Comment

    • SteelersFreak
      All Star
      • May 2004
      • 9582

      #452
      Re: Agreement for new Seattle arena reached

      Now it makes some sense why the owners voted unanimously.
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      University of North Texas '14
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      Comment

      • Coug00
        LOB
        • Jul 2002
        • 3476

        #453
        Originally posted by 13
        That seems like an awful deal no?

        Why would any team willingly give up close to $20 million in revenue after spending near $450 million on a new arena? Doesn't make sense to me.
        Not unless that group was so sure the arena will never get built and they'd be allowed to pull a Clay Bennett and move them to a larger market later.

        The NBA negotiating side deals over something they don't own. Hilarious. Have fun with your antitrust Adam Silver.
        Member of The OS Baseball Rocket Scientists Association

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        • jWILL253
          You know why I'm here...
          • Jun 2008
          • 1611

          #454
          Re: Agreement for new Seattle arena reached

          This situation is getting ridiculous...
          jWILL

          Comment

          • Coug00
            LOB
            • Jul 2002
            • 3476

            #455
            Originally posted by jWILL253
            This situation is getting ridiculous...
            Yeah, accepting bribes in writing is a bad idea.
            Member of The OS Baseball Rocket Scientists Association

            Comment

            • Coug00
              LOB
              • Jul 2002
              • 3476

              #456
              Re: Agreement for new Seattle arena reached

              Originally posted by Proof21
              Can't wait until the 15th. Not gonna add anything else until then. Long live the Sacramento Kings!
              Sadly, I don't see what is going to be determined on the 15th. I think the drama continues...painfully.
              Member of The OS Baseball Rocket Scientists Association

              Comment

              • jWILL253
                You know why I'm here...
                • Jun 2008
                • 1611

                #457
                Re: Agreement for new Seattle arena reached

                Originally posted by Coug00
                Sadly, I don't see what is going to be determined on the 15th. I think the drama continues...painfully.
                Yeah. Funny thing is, the more of all the back-scratching being done by the Sacramento group gets leaked to the news, the more litigation seems like a viable option. At this point, the Seattle group already has all the evidence it needs for a solid antitrust & tortious interference lawsuit...
                jWILL

                Comment

                • DonkeyJote
                  All Star
                  • Jul 2003
                  • 9194

                  #458
                  Re: Agreement for new Seattle arena reached

                  The Seattle group may not have to do anything. Somebody in Sacramento is going to pursue this legally (the city clerk's office has already been sued for not turning over data fast enough pertaining to this).

                  It's just getting weird at this point. If they aren't going to accept revenue sharing, how can they possibly exist in any kind of competitive manner is a relatively small market?

                  Comment

                  • Taer
                    MVP
                    • Sep 2011
                    • 1432

                    #459
                    Re: Agreement for new Seattle arena reached

                    Originally posted by Proof21
                    Can't wait until the 15th. Not gonna add anything else until then. Long live the Sacramento Kings!
                    Regardless of what happens in a week or two, the Seattle group will pursue owning and bringing a team to Seattle.

                    I am hopeful that the NBA will announce expansion plans and that a fast-track pre-approval is put in place for everything needed to form a new Sonics team within a year.

                    If my hope is unfulfilled I fear the Seattle group's determination will mean litigation begins, for better or for worse.


                    Originally posted by DonkeyJote
                    ... If they aren't going to accept revenue sharing, how can they possibly exist in any kind of competitive manner is a relatively small market?
                    They will be able to exist in the same manner that the Hornets/Pelicans had - by the graces of the NBA's direct funding and intervention.

                    Any team that has the full support and force of the NBA's governing body up to and including oversight of player movements/trades and arena negotiation will be able to survive indefinitely.
                    Last edited by Taer; 05-07-2013, 11:03 AM.

                    Comment

                    • jWILL253
                      You know why I'm here...
                      • Jun 2008
                      • 1611

                      #460
                      Re: Agreement for new Seattle arena reached

                      I just realized a few things.

                      This new development in the Kings saga has three indirect, yet enormously litigious implications on three parties that haven't even been brought up in the conversation:

                      1. The City of Sacramento. The city is $2 billion in debt and they are essentially spending money they don't have, and may be doing so illegally. The word going around is that the Sacramento group is tapped out as well. With the news that Ranadive is not accepting money that could pay off the cost of the new Sacramento arena over the course of the lease, I'd be surprised if no one IN THE ENTIRE STATE, let alone the city, doesn't raise an eyebrow at this.

                      2. The City of Seattle. Believe it or not, whatever Seattle's city council decides to do after the 15th (assuming the sale is rejected) will set the precedent going forward. There is an antitrust clause regarding the restriction of the free market that hasn't been brought up yet. In regards to the NBA, they are actually not allowed to artificially restrict any viable parties (read: potential NBA cities) from participating in a given marketplace. Given the fact that they are most likely going to reject this deal for the sake of public kickbacks and side deals, that would make the NBA guilty of artificially restricting the market.

                      And the party with the biggest dog in this fight:

                      3. The NBA Players Association. The new CBA calls for any new yearly revenue to be shared amongst the smaller markets, and only Indiana and Milwaukee are getting a bigger check than Sacramento. The theory goes that the money would be spent on acquiring talent to balance out competition in the league. In essence, the money is meant to trickle down to the players.

                      But by denying revenue money in the future, Ranadive and the Sacramento group would be breaking the CBA. If this comes to pass, the NBAPA would not be happy. Not only that, but this could set a negative precedent towards teams contributing to the revenue pool. Teams like the Lakers could say "Well, if so-and-so isn't taking any money from the pool, then why is my organization even contributing to the pool?" Teams in big markets would start opting out, which would be devastating to the league.

                      Something isn't right. The NBA cannot be this sloppy and blatant, can they??
                      jWILL

                      Comment

                      • saaddzz
                        MVP
                        • Feb 2012
                        • 1366

                        #461
                        Re: Agreement for new Seattle arena reached

                        So.. it's gonna be Seattle Kings, or Seattle SuperSonics , or some other name?
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                        • MarvinOida
                          MVP
                          • Feb 2012
                          • 4859

                          #462
                          Originally posted by saaddzz
                          So.. it's gonna be Seattle Kings, or Seattle SuperSonics , or some other name?
                          Sonics. It's gonna pick up where Clay Bennett left the nasty mess. Though if they go by Kings, which is unlikely, it's fine because Seattle is in King County.

                          Comment

                          • DonkeyJote
                            All Star
                            • Jul 2003
                            • 9194

                            #463
                            Re: Agreement for new Seattle arena reached

                            Originally posted by MarvinOida
                            Sonics. It's gonna pick up where Clay Bennett left the nasty mess. Though if they go by Kings, which is unlikely, it's fine because Seattle is in King County.
                            In the event we get the Kings (which is obviously a longshot at this point, but not impossible, imo), I think everyone would prefer for the team to be named the Sonics, which would be likely. Kings would be the second choice, and would work (especially if they changed to green/gold). But there is really no reason for the team to not be known as the Sonics.

                            Comment

                            • Coug00
                              LOB
                              • Jul 2002
                              • 3476

                              #464
                              Re: Agreement for new Seattle arena reached

                              Originally posted by DonkeyJote
                              In the event we get the Kings (which is obviously a longshot at this point, but not impossible, imo), I think everyone would prefer for the team to be named the Sonics, which would be likely. Kings would be the second choice, and would work (especially if they changed to green/gold). But there is really no reason for the team to not be known as the Sonics.
                              I think the odds are pretty high they get a team and I still think it's the Kings. Legally, they have the NBA by the balls and have an appetite for a legal battle (they aren't going to let that $130M go to waste). I'm going to assume that's why KJ and McCann have suddenly become vocal trying to pressure Hansen/Ballmer to concede this week.

                              Sonicsrising has some great analysis that if the NBA BOG deny the sale, they are in violation of the Sherman Act and stand to lose a ton of control of their private league.

                              Hansen is in NYC this week at NBA HQ. No doubt there is some negotiating going on.
                              Member of The OS Baseball Rocket Scientists Association

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                              • jWILL253
                                You know why I'm here...
                                • Jun 2008
                                • 1611

                                #465
                                Re: Agreement for new Seattle arena reached

                                Welp... http://www.sacbee.com/2013/05/08/540...o-suitors.html

                                Originally posted by The Sacramento Bee
                                With an NBA vote on the future of the Sacramento Kings just a week away, a source says the league is encouraging a Sacramento business group to put 100 percent of its $341 million team purchase offer into an escrow account in hopes of persuading the Maloof family, team owners, to sign a deal with the local group.

                                ...The Maloof family has expressed concerns privately about the financing of the Ranadive group, which includes the Jacobs family of San Diego, owners of Qualcomm Co.

                                Ranadive's group already has put 50 percent of its team purchase offer into an escrow account, sources said. Putting the entire amount down would help "alleviate the Maloofs' concern, and greatly increase the likelihood a deal could get done," the source said.
                                That is the definition of tortious interference...
                                jWILL

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