Apr 10, 2012, 12:21 PM EDT
The NBA owners are getting together in a mid-town Manhattan hotel this week, and not just to give us all lockout flashbacks. (Quick, get Larry Coon to order some pizza!). It’s time for the Board of Governor’s meeting (which is a fancy way of saying all the owners get together and vote on stuff).
It is in that hotel that the Kings’ Maloof brother will try to explain to the other owners why six weeks ago they stood in the middle of Power Balance Arena and basked in the applause for a handshake deal to build a new arena in Sacramento and keep the Kings in town, but now they renegotiate it. Which would kills the deal as the other parties are done talking. The family needs to explain why now that they have to do their share — when they have to write some checks — to keep their team in the city of a very loyal fan base they want out.
There is a reason Commissioner David Stern and the league pushed the Maloofs aside and negotiated a deal with Sacramento and eventual arena operator AEG. Those sides came to the deal where the Maloofs had to make some very reasonable contributions — starting with $3.2 million in pre-development fees — that the Maloofs now say are not reasonable.
It is the other NBA owners that will decide what is reasonable. They can veto any move of the team. They can’t force the Maloofs to sell (the wish of most Kings fans) but they can force the Kings to stay put in Sacramento. And there are buyers in the wings that want to keep the team in the city.
That said, the other owners are not going to want limit their flexibility going forward — they want the future ability to leverage their cities for truckloads of money to build (or upgrade) an arena and nothing does that like the threat of a move. The other owners could let the Kings go to Anaheim (over the objections of the Buss family that owns the Lakers and Donald Sterling of the Clippers).
Sacramento Mayor Kevin Johnson will not be in New York to make the city’s case, reports the Sacramento Bee. City and AEG officials said they have done all they can. David Stern will present the league’s case and the handshake agreement reached a few weeks ago. Here is how the Bee breaks down the deal.
The Maloofs have declined to say publicly what their concerns are, other than their refusal two weeks ago to pay a $3.26 million share of the $13 million in pre-development costs the city says it needs to keep an arena project on track. The Kings also have objected to a proposal that they reimburse the would-be arena operator AEG its $3.26 million pre-development share if the deal falls apart without any fault from AEG….
AEG has agreed to contribute $58.75 million to a downtown arena. The Kings agreed to put up $73.3 million. The city would shoulder the bulk of the cost: $255.5 million.
A source familiar with the issue said the Kings would like more decision-making authority at the arena. The team reportedly also has concerns about parking issues, wants more input on the design, and has issues with the proposed lease terms and revenue streams, among other sticking points. The current “term sheet” calls for the Kings to sign a 30-year lease.
To me, this all seems a fair deal. Sacramento Mayor Johnson has come up with a way to get a much-needed new arena done, but the Maloofs — at least George for sure — clearly wants to move.
Now it falls into the hands of the other owners in a mid-town hotel. If the lockout is any indication, we could be waiting a while for an answer.
May 5, 2015, 1:22 AM EDT
“There are no excuses, they played better than we did.” —Rockets’ coach Kevin McHale
May 5, 2015, 12:30 AM EDT
But the Knicks will have the higher pick.
May 5, 2015, 12:02 AM EDT
That one worked out OK.
May 4, 2015, 11:19 PM EDT
Popovich still hates the rule.
May 4, 2015, 9:43 PM EDT
Derrick Rose’s 25 points led the way for Chicago.
May 4, 2015, 9:00 PM EDT
May 4, 2015, 8:11 PM EDT
Doc Rivers says Paul will not play.
May 4, 2015, 7:45 PM EDT
Curry thanked basically everyone. I mean everyone.
May 4, 2015, 7:00 PM EDT
Nobody thinks Gasol is leaving Memphis anyway.
May 4, 2015, 6:15 PM EDT
Curry is different from most MVP winners.
May 4, 2015, 5:30 PM EDT
This is the battle we’ve been waiting for since training camp.
May 4, 2015, 4:45 PM EDT
Nor should he
May 4, 2015, 3:59 PM EDT
Look for LeBron to try and post Butler up to draw help.
May 4, 2015, 3:30 PM EDT
Neither of these guys is used to being matched up on a big as athletic as they are.
May 4, 2015, 2:55 PM EDT
Spurs coach echoes Doc Rivers. Can they get the rule changed?
May 4, 2015, 2:22 PM EDT
…after singing Paul’s praises
May 4, 2015, 1:44 PM EDT
What would that rule be?
May 4, 2015, 1:09 PM EDT
Finally! I’d been on the edge of my seat
May 4, 2015, 12:33 PM EDT
Pick and John Wall’s pass led to Otto Porter’s crunch-time layup
May 4, 2015, 11:58 AM EDT
Chris Haynes of Cleveland.com casts unintended vote for Russell Westbrook, places Anthony Davis higher than planned
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