Apr 10, 2012, 12:21 PM EST
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.
Mar 1, 2015, 10:00 AM EST
Odd timing, only because fans in Phoenix have historically shown up for games against San Antonio and Los Angeles.
Mar 1, 2015, 8:33 AM EST
Beasley throws one down in his second game back with the Heat.
Mar 1, 2015, 12:22 AM EST
He will be missed.
Feb 28, 2015, 11:00 PM EST
Warriors general manager supports idea
Feb 28, 2015, 9:30 PM EST
Howard has missed the last 14 games.
Feb 28, 2015, 8:04 PM EST
He will sit out Sunday vs. Boston.
Feb 28, 2015, 6:30 PM EST
Tom Thibodeau says Rose’s rehab plan is already mapped out.
Feb 28, 2015, 4:47 PM EST
Westbrook suffered the injury last night against the Blazers.
Feb 28, 2015, 4:00 PM EST
Rockets general manager says he recommended trading ‘everything’ for Harden in 2012
Feb 28, 2015, 2:30 PM EST
What else would he say?
Feb 28, 2015, 1:00 PM EST
He was beloved by former teammates.
Feb 28, 2015, 11:30 AM EST
He was evaluated by doctors after the game Friday.
Feb 28, 2015, 10:33 AM EST
He had been in the hospital for weeks following multiple heart attacks.
Feb 28, 2015, 9:30 AM EST
The Knicks got the double OT win in Detroit, this shot was key.
Feb 28, 2015, 8:00 AM EST
Westbrook is averaging a triple-double over his last five games.
Feb 28, 2015, 1:02 AM EST
To quote Bob Uecker, “juuuuust a bit outside.”
Feb 27, 2015, 11:00 PM EST
There is about as much chance of me getting a date with Emily Ratajkowski this weekend as there is of this actually happening.
Shane Battier on Carmelo Anthony: ‘Last two years I guarded him, he did exactly what the scouting report said he would’
Feb 27, 2015, 10:00 PM EST
Maybe, but Melo still dropped 50 on Battier’s Heat in 2013.
Feb 27, 2015, 9:00 PM EST
NBA teams are considering the question
Daryl Morey believes two bad shots are better than one good shot (always), but data wasn’t significant enough for Jeff Van Gundy to change
Feb 27, 2015, 7:59 PM EST
An interesting anecdote from Morey (speaking at the MIT Sloan Sports Analytics Conference) about how the data showed an advantage, but not one big enough for his coach to change.
- Rockets general manager Daryl Morey proposes loosening NBA trade rules 4
- Derrick Rose starts rehab, in “good spirits” after knee surgery 10
- Russell Westbrook undergoes procedure to address cheek fracture, will be re-evaluated next week 5
- Russell Westbrook takes knee to face, it leaves dent (VIDEO) 15
- Former All-Star, popular Knick Anthony Mason dies at age 48 16
- Russell Westbrook posts third straight triple-double, Thunder lose anyway 8
- Shane Battier on Carmelo Anthony: ‘Last two years I guarded him, he did exactly what the scouting report said he would’ 15
- Shane Battier: ‘I think a 60-game season would be perfect’ 18