Agreement for new Seattle arena reached

[jWILL253]

Re: Agreement for new Seattle arena reached

Here's a little-known fact: There is only ONE antitrust-exempt sports league in America, and it isn't the NBA, or even the NFL. It's MLB, and even then, the government just uses it as leverage (read: threatening to revoke exemption) so they can have their way with the Majors.

So, just in case people say the Seattle group doesn't have any legal ground to stand on: yes they do. In fact, said legal ground is WAY more solid than the Sacramento arena deal that no one has paid for yet. As much as I hate to see two cities going through the bull****, this isn't over yet, and when it is over, it will end badly for everyone involved.

As for there being "no chance" the Seattle group owns the Kings in Sacramento: sounds like wishful thinking. They can own the Kings in Sacramento. We should know, as it happened to the Sonics, thanks to the man that made the biggest contribution to the abomination that was Seattle Sports in 2008: Clay Bennett himself...

[WazzuRC]

Re: Agreement for new Seattle arena reached

The unanimous vote aspect is overrated IMO. Once Stern convinced the majority of the relocation committee to vote no, it was over and I'm sure the other owners just followed suit. This unanimous vote is just a PR move so the NBA can seem united in wanting to keep the team in Sacramento and not show dissension between owners. I wouldn't be shocked if there still is a lot of dissension.

If the NBA really does want the team in Sacramento, just do us all a favor and announce expansion immediately. Momentum has never been this hot in Seattle for the NBA, and if this drags on and on for the next few months, the odds of Seattle politicians and investors wanting the NBA back will get slimmer and slimmer. Apathy will grow. The time to act is now, or else the NBA and basketball fans in Seattle can forget about the Sonics ever coming back.

[Taer]

Re: Agreement for new Seattle arena reached

... If the NBA really does want the team in Sacramento, just do us all a favor and announce expansion immediately. Momentum has never been this hot in Seattle for the NBA, and if this drags on and on for the next few months, the odds of Seattle politicians and investors wanting the NBA again will get slimmer and slimmer. The time to act is now, or else the NBA and basketball fans in Seattle can forget about the Sonics ever coming back.

This is how I feel as well. Well said.

The NBA really should have learned both from the whole 2008 Thunder/Sonic saga, and the Seattle Pilot/Milwaukee Brewer episode for MLB.

The ultimate solution is expansion, even if it causes a short-run income/value/talent issue. Perhaps KC will get the Royals/Kings back, Seattle the Sonics and Sacramento gets the (New Local Nickname) <insert proper="" nickname="" here="">.</insert>

[LionsFanNJ]

Doesn't KC have a fresh new arena already built too? It would be perfect and keep the NBA on an even number of teams. Seems like the owners are being *******s and don't want to get a piece of their pie taken and want Seattle as the sword over city government heads to get what they want.

[ProfessaPackMan]

Re: Agreement for new Seattle arena reached

Seems like the owners are being *******s and don't want to get a piece of their pie taken

To be fair, if you were an NBA Owner...wouldn't you have this same mindset as well?

Me personally, I hope we don't get an expansion since there really isn't a need for it right now.

[UWfan206]

Re: Agreement for new Seattle arena reached

To be fair, if you were an NBA Owner...wouldn't you have this same mindset as well?

Me personally, I hope we don't get an expansion since there really isn't a need for it right now.

As a fan how would it affect you though...? I could understand if you're an NBA owner but you're just a fan so why are you against it..?

[DonkeyJote]

Re: Agreement for new Seattle arena reached

To be fair, if you were an NBA Owner...wouldn't you have this same mindset as well?

Me personally, I hope we don't get an expansion since there really isn't a need for it right now.

You only say that because you're in a market with a team.

[Coug00]

Re: Agreement for new Seattle arena reached

Lots going on today. Sounds like a sum was placed in Escrow, but how much is unknown at this point.

Also this...

Chris Daniels @ChrisDaniels5

JUST IN: Sacramento attorney filing lawsuit w/in hour against City Clerk’s office, alleging it’s failed to comply w/ public records request

JUST IN: However, he alleges the documents will reveal a “secret city subsidy” of #SacArena project.

Jason Puckett @JasonPuckettKJR

Just spoke to Isaac Gonzales, who is a part of Coalition of Responsible Arena Development, and they plan to file lawsuit today (more)

In Sacramento...there biggest concern is the release of public records - not necessarily the building of the arena. they contend (more)

the $258 million dollar public subsidy is actually over $340 million. and, the investment group (Ranadive/company) informed the mayor (more)

that the Kings was not worth 525 mill. And investor group demanded compensation from city to make up difference. They want those emails...

and those email, submitted on April 5, have been ignored. The city had 10 days to respond and they didn't....they want to know why?

[MarvinOida]

Lots going on today. Sounds like a sum was placed in Escrow, but how much is unknown at this point.

Also this...

So. What does this mean exactly? I've been understanding a lot of this for a high school student, but this one, what? too much many being spent and secret arena city? And Sacramento owes money?

[Coug00]

Re: Agreement for new Seattle arena reached

So. What does this mean exactly? I've been understanding a lot of this for a high school student, but this one, what? too much many being spent and secret arena city? And Sacramento owes money?

It's all hearsay at this point, but if it's legit, I see it as a 2-fold problem...

The most obvious one that impacts the NBA is that Ranadive & Co's total value doesn't even match the valuation of the Kings. If they were to liquidate all of their combined assets, they still couldn't cover the $525M. If they were to purchase the Kings, they'd be dipping into the NBA general fund (borrowing) right off the bat just to operate the franchise.

Sacramento, OTOH, is allegedly illegally attempting to secretly pay for the Kings using unapproved public money. This is a city that is $2B in debt.

If true, just another reason why the finance committee was forced to be silent.

[DonkeyJote]

Re: Agreement for new Seattle arena reached

Yeah, it basically means the city of Sacramento has agreed to pay for part of the Kings for the Sac group, without voter/city council approval. The mayor does not have that kind of stroke. And, that the city of Sacramento has already put up significantly more money than was approved for the arena deal.

Basically, if any or all of this is true, the arena deal in Sac is almost certainly dead. The sac ownership group is not going to buy the team at even close to the value the Seattle group is offering. And Kevin Johnson's political career, which three days ago looked like it was about to take off, will probably be just about over.

[MarvinOida]

Yeah, it basically means the city of Sacramento has agreed to pay for part of the Kings for the Sac group, without voter/city council approval. The mayor does not have that kind of stroke. And, that the city of Sacramento has already put up significantly more money than was approved for the arena deal.

Basically, if any or all of this is true, the arena deal in Sac is almost certainly dead. The sac ownership group is not going to buy the team at even close to the value the Seattle group is offering. And Kevin Johnson's political career, which three days ago looked like it was about to take off, will probably be just about over.

Oh that sucks I like KJ and his determination but doing something like this isn't good, but any fan would do the same thing, sad thing is he's a politician and is representing the city.

[DonkeyJote]

Re: Agreement for new Seattle arena reached

Oh that sucks I like KJ and his determination but doing something like this isn't good, but any fan would do the same thing, sad thing is he's a politician and is representing the city.

I'm not sure any fan would. He was essentially tying to (allegedly) embezzle to keep the team there. I'm not sure, but that might even be a crime. If any of that is true, he certainly crossed a line. That's a big if at this point, however.

[ProfessaPackMan]

Re: Agreement for new Seattle arena reached

You only say that because you're in a market with a team.

You forget the fact that it was only 4 years ago when my team was on the verge of possibly becoming the Kansas City Nets. And this was while we basically played in the NY Market. Hell, how do you think folks in NJ feel about having their team taken away from them?(Yes, there were people that were and still are against the move to NY).

I've been where Kings Fans are at right now, except the only difference is we had Russian Miracle otherwise there would be no Brooklyn. So no, I'm not "only saying this because I'm in a market with a team".

As a fan how would it affect you though...? I could understand if you're an NBA owner but you're just a fan so why are you against it..?

Because I don't see how expansion takes care of some of the other bigger issues the League has right now. I'd rather these issues get taken care of before deciding to add another team.

[UWfan206]

Re: Agreement for new Seattle arena reached

Because I don't see how expansion takes care of some of the other bigger issues the League has right now. I'd rather these issues get taken care of before deciding to add another team.

As a fan's perspective what are the bigger issues? If you're an owner I can see why you are against it but as a fan does it hurt or affect you one bit..? I highly doubt it.