Tag:Arco Arena
Posted on: February 15, 2012 11:15 am
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Kings arena-related measure passes city council

By Matt Moore

Sacramento has passed another marker on the path to keeping the Kings in Sacramento. The Sacrmento city council voted Tuesday night to allow city representatives to enter into discussions with local firms seeking to lease downtown parking. The money made from those agreements is necessary for efforts to build a new arena in Sacramento, which in turn is requisite to keeping the Kings in town as part of Mayor Kevin Johnson's proposal to the NBA. 

Once the leases are in place to provide up to half of the $387 million necessary for funding the new arena, the Sacramento Bee outlines the rest of the process in their post on the vote Tuesday:  
City staff is in tense negotiations with representatives from the National Basketball Association, the Kings, arena operator AEG and the arena development team to round out the facility's financing plan. Those talks are expected to continue for at least another two weeks, as the city works to create a financing "term sheet" for the arena by the end of the month.

The council would then be asked on Feb. 28 to approve that term sheet in a vote that could determine whether the Kings remain in town.
via Council votes to enter talks with 11 firms seeking to lease downtown parking - Sacramento Sports - Kings, 49ers, Raiders, High School Sports | Sacramento Bee.

It's a small step, a tiny one, but it is a significant junction of money made available if the agreements can be met with the local firms. Kings fans aren't out of the woods yet, but they do have momentum.  

Last year, Kings ownership attempted to move the team to Anaheim, California, but was blocked by a vote from the NBA Board of Governors after a weak proposal from the Maloofs and a strong presentation from Mayor Johnson. 
Posted on: March 28, 2011 8:10 pm
Edited on: March 28, 2011 8:21 pm
 

Sacramento official issues letter to Anaheim

City manager for Sacramento sends a letter to his counterpart in Anaheim, discussing money that would be owed to Sacramento if the city of Anaheim does not "cease negotiating" with the Kings
Posted by Matt Moore

Enter the lawyers. 

The Sacramento Bee reports that officials for the city of Sacramento have sent a letter to officials in Anaheim ordering them to "cease negotiating with the Kings", and repeatedly brings up the $77 million the Kings owe the city of Sacramento:
Sacramento city officials have sent a letter to Anaheim telling that city to cease its negotiations with the Sacramento Kings, and asking the Anaheim City Council not to vote on issuing $75 million in bonds Tuesday or take any other actions to induce the Kings to move to Anaheim.
The letter, issued minutes ago by assistant city manager John Dangberg, says if Anaheim insists on continuing negotiations with the Kings, Sacramento "must contractually require" the Kings to pay off the estimated $77 million the team owes the city of Sacramento.
via Kings Blog and Q&A: City of Sacramento directs Anaheim to stop negotiations with Kings.

Kaboom. 

The letter has three requests for Anaheim. One, to not authorize issuance of Bonds for the renovation of the Honda Center. Two, to cease negotiations with the Kings. And if they choose to continue such discussions, to make any move dependent on the Kings repaying the $77 million to Sacramento. That of course dwarfs the money the Kings would owe in relocation fees and the $50 million loan Samueli has discussed loaning the Maloofs. 

This letter is of course the precursor to suit in the event that negotiations continue and the Kings do file for relocation. The city's latest proposal fell flat on its face, but this letter makes it apparent they have little intention of going down completely quietly. What, if any, merit this course of action will garner in court isn't known at this time, but it's definitely a scare tactic to try and get the crows away from the soon-to-be carcass of professional basketball in Sacramento. 
Posted on: March 23, 2011 10:50 am
 

The Anaheim situation

As the mayor discusses the "slow death" of the Kings in Sacramento, Anaheim faces budget questions about renovations to the Honda Center to facilitate a relocation.
Posted by Matt Moore





This is becoming less of a fight for fans to keep the team they love and more a funeral dirge. Tuesday night Sacramento Mayor Kevin Johnson posted on his website comments that sound very much like a surrender regarding the Kings' prospective relocation to Anaheim: 
It feels like a slow death.

From the start of the saga that may soon close the Kings’ era in Sacramento, I have said the community should focus on what it can control, and not worry about decisions that are out of our hands.

The decision to move a business – let’s not forget, the Kings are a business – rests with the owners. We can talk and do our best to persuade, but in the end, the choice to relocate belongs to the people who own the team.

Of course, none of this makes it any easier to watch the steady drip of what will likely be the Kings’ final weeks in Sacramento after 26 years.

...

Meantime, Sacramento fans take the high road.

Thanks to the fans and groups like Here We Stay, I want to keep fighting to keep the Kings. But another part of me wants this painful drama to end.
via Watching Kings prepare to leave is like slow death > kevinjohnson.com > Kevin's Blog.

Not exactly words of comfort. Even as fans organize rallies and events to try and plea to the Kings, the NBA, the Basketball Gods, someone to keep their team in Sactown, civic leadership is starting to try and prepare the fanbase for the death of the team as they know it. Johnson followed up the comments by talking about the future and the possibility of a new team. But that's too bitter a pill for the fans to consider swallowing. So instead they debate boycots and try and deal with the realities of the situation.

Meanwhile, Anaheim Mayor Tom Tait spoke at a city council meeting Tuesday night and was downright giddy about the prospect of acquiring the Kings and the progress in that area. 
 
"The good news is that we are continuing to move closer to bringing a professional basketball team to Anaheim," Tait said. "Because there are ongoing discussions and negotiations, I have just a few details to share tonight. More information will be forthcoming in the next week or so."
via Anaheim mayor says city 'closer' to getting Kings | council, kin - News - The Orange County Register.

Perhaps the only good news for Sacramento fans is that the Anahaeim city council voted to delay discussion of bond funding for arena improvements necessary for an NBA team to relocate to the Honda Center. And there are citizens who are very upset at the prospect of throwing money at renovations for an NBA team with a budget crisis.  Sacramento fans' best hope to keep the team is for the process of aligning relocation prospects to drag on past the April 18th deadline for the Maloofs to file for relocation, keeping the team in the city for another year, and providing civic leadership yet another opportunity to resolve a new arena plan. 

But at this point, that's not seeming likely. The wheels are moving, even if the gears are grinding in places. Sacramento fans have nothing they can do but sit and watch as the team is torn out from underneath them. 

If it feels like watching a death, that's because it is. 

From the comments section at Sactown Royalty:
I will be a casual NBA fan from now on. I could never care about another team the way I've cared about this one.
via A Quick Word On Efforts To Boycott A Game - Sactown Royalty.

Welcome to David Stern's NBA paradise, where the NBA cares about its fans, as long as you live in a suitably large market. 
Posted on: January 11, 2011 12:16 am
 

Maloofs signal they're open to relocation

Kings owners announce they will pursue every option for long-term viability of the franchise, signaling end to pledge to keep team in Sacramento.
Posted by Matt Moore

It was inevitable that it would come to this. Eventually the owners of the Sacaramento Kings, Joe, and Gavin Maloof would have to be realistic about their situation in Sacramento with the Kings. Not only due to the long, drawn out failures by the city to finance a new arena, but of the economy wreaking havoc on everyone, making a financial liability like the Kings no longer an acceptable cost. First comes word from the Orange County Register that the Maloofs may be having financial difficulties with their Las Vegas investments, including an issue with a sizable loan. From the OC Register

The relocation rumors revved up again Friday when Bloomberg News Service reported that two private investment firms are negotiating to acquire a controlling interest in the Palms Casino Resort in Las Vegas, also owned by the Maloofs, after the family violated its loan covenants.

If the Maloofs are having significant financial problems — the Sacramento Bee reports that in 2009 the family sold its original beer distributorship in New Mexico for more than $100 million and that there also were staff layoffs in the Kings organization and at The Palms — then perhaps there is a greater sense of urgency to move the franchise to a market with better demographics, more potential corporate sponsors and an NBA-ready arena.
via Are NBA's Kings Anaheim-bound? | nba, kings, arena - Home - The Orange County Register.

On the heels of that came a release Monday from the Kings ownership group saying: "We are looking at all options to ensure the long-term viability of this franchise".

Ruh-roh. 

The Kings are 29th in the league in attendance, but have proven throughout the years that a winning team will get them in the building and loud. Unlike the Hornets, who struggle with attendance even when their team is in the midst of a playoff race, Sacramento has shown they can be profitable when the team isn't dreadful. However, the city has also voted down multiple measures to support a new arena, and in today's NBA, that can be a death sentence. 

With Las Vegas well within the eye of the current ownership group, and billionaires in both San Jose and Anaheim (including Larry Ellison who has been in pursuit of a team multiple times in the past three years), there are other options for the Maloofs. In this kind of climate, you have to consider the odds of the team staying in Sacramento to be aggressively slipping away. 
Posted on: September 21, 2010 9:24 am
Edited on: September 21, 2010 10:04 am
 

Shootaround 9.21.10: Bogut good to run

Bogut's back, Joe Alexander's back, Pops is back, and Curry is not back. Posted by Matt Moore

We've kept you up to date on the health and progress of Andrew Bogut. The latest news is good news . He told the Milwaukee Journal Sentinel that he expects to be ready for training and camp and in the opening night lineup. Bucks fans, you can exhale, paramedics are standing by.

The Hornets have agreed to terms with Joe Alexander. Joe Alexander, people. There's simply no way that the economy is not rebounding if Joe Alexander has found himself employed. Alexander provides the Hornets with almost nothing they have any use for, but hey, someone's gotta guard in camp.

The Knicks are so young Posting and Toasting dreamed up Anthony Randolph with crayon.

Pops Mensah-Bonsu got a training camp invite ! With... the Hornets. But hey, that team doesn't have depth issues. Not in the slightest. It mayh sound disingenuous to say that Joe Alexander doesn't deserve a camp invite and Mensah-Bonsu does, but Pops has NBA length and can defend. Alexander has a poor choice in facial hair.

Baron Davis may win an Emmy for his gang violence documentary. Being involved with film was a big reason Davis wanted to leave the Warriors for the Clippers, and it's good to see he's put the opportunity to good use. Probably won't make fans feel much better about all the time he's missed, though.

How far the might have fallen. Michael Ruffin is now in coaching the ABA . What's left of it, the modern one. Not in the 1970's. That would require a time machine and that risks Ruffin seeing his past self and causing a hole in the universe and it's all very complicated. Much like the reasons for the existence of the ABA currently.

The Greatest Center of modern times gets a run by Kelly Dwyer. If you didn't love the Dream Shake, you didnt like sports.

Arco Oil's naming rights deal for the Sacramento arena is expiring . So the Kings will open it up. With the economy and its effects, I'd imagine we're going to see more and more changes in arena rights. Which is kiind of a reason to have a non-sponsored name. But that's just too much money to leave on the table.

Eddy Curry will be the last Knick to report for training camp. Which is nice. I'm actually glad, that way we can spare ourselves the talk about how this will be the one where Curry turns it around and how he looks more motivated than ever. Let's just get it out of the way, he's deadweight. Heavy deadweight.

Hey, look, Mark Cuban's delusional . Fun!
 
 
 
 
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