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.
Sep 19, 2014, 12:01 AM EDT
Saunders wants the rookie to earn it.
Sep 18, 2014, 10:46 PM EDT
Pietrus sat out all of last season.
Sep 18, 2014, 9:31 PM EDT
Looks like Bucks head coach Jason Kidd is serious about making Antetokounmpo into a point guard.
Sep 18, 2014, 8:16 PM EDT
This will take some getting used to.
Sep 18, 2014, 7:10 PM EDT
Sep 18, 2014, 6:30 PM EDT
Isn’t Harden the beard guru?
Sep 18, 2014, 5:51 PM EDT
I like the idea of calling him “scrappy feet” better.
Sep 18, 2014, 5:10 PM EDT
Chicago will likely start Joakim Noah and Pau Gasol
Sep 18, 2014, 4:25 PM EDT
Expect Rubio to be a restricted free agent next summer, and he may not enjoy that experience.
Sep 18, 2014, 3:44 PM EDT
Knicks star said nobody wants to play for Atlanta
Sep 18, 2014, 2:55 PM EDT
After a year at point guard, Oladipo should thrive for Magic this season
Sep 18, 2014, 2:20 PM EDT
Dirk’s not bad on guitar.
Sep 18, 2014, 1:40 PM EDT
Not an expected pairing, but they can relate
Sep 18, 2014, 1:00 PM EDT
Spurs coach seeking sources of motivation so his team won’t repeat the letdown
Sep 18, 2014, 12:18 PM EDT
Team USA coach Mike Krzyzewski defends himself after Adrian Wojnarowski paints him as opportunistic recruiter
Sep 18, 2014, 11:39 AM EDT
How much longer will NBA keep pushing them?
Sep 18, 2014, 11:00 AM EDT
After signing Glenn Robinson III, Minnesota has too many guaranteed contracts
Sep 18, 2014, 10:00 AM EDT
Sep 18, 2014, 9:30 AM EDT
Last season, Celtics traded Crawford to Warriors, who were unsatisfied with his play
Sep 18, 2014, 8:30 AM EDT
Bulls center didn’t fare quite as well at White Sox game
- Kevin Durant has grown close with Karl Malone 13
- ProBasketballTalk 2014-15 Preview: Philadelphia 76ers 3
- Steve Kerr said Danny Ferry made mistake but is a “man of high character” 23
- LeBron James on Kyrie Irving: “I believe Kyrie can be the best point guard in the league.” 20
- ProBasketballTalk 2014-15 Preview: Boston Celtics 4
- Dwight Howard’s driver’s license in Florida suspended, he racked up 10 red light violations in Orlando 17
- Tim Duncan to appear in “The Punisher” comic book 6
- ProBasketballTalk 2014-15 Preview: New York Knicks 13