Jan 9, 2013, 3:09 PM EST
The ongoing joke about the Maloofs in league circles is that they can get the girl’s phone number, but they can’t close the deal.
After Adrian Wojnarowski’s report that the Maloofs are close to finalizing a $500 million deal with Seattle billionaire Chris Hansen, closing a deal shouldn’t be a problem this time, but there are plenty of reasons to not call it a “done deal” just yet.
Wojnarowski said as much when he tweeted “No agreement signed, but one source describes deal as “1st and goal at 1.” Maloofs history of changing course late still makes many uneasy.”
Indeed, sources close to the situation told PBT that there are still many hurdles for this deal to overcome, and that Sacramento still has willing, reputable buyers ready to meet or beat Hansen’s offer in order to keep the franchise in town.
Indeed, as reported here numerous times, Hansen would have to drastically overpay in order to outdo the Sacramento ownership groups, because Sac owners don’t have to account for a relocation fee, a city loan back to Sacramento, and the hard costs of moving. Sources say that this will total a minimum of $125 million, and should the NBA decide they want to levy a higher relocation fee to even out the playing field that number could increase.
This means that if the Maloofs sell to Hansen for $500 million, that in reality they are getting much, much less. In Sacramento, this means that it’s time for their local buyers to step up with their offers, and make the same effort the city made in the spring of 2011 when the Maloofs had most believing the team would move to Anaheim.
An offer of $425-$450 million dollars would start to put more money in the Maloofs’ pockets than the Seattle offer does, and that’s where the next step in this relocation debacle lies.
If there is any silver lining to today’s events for Kings fans and Sacramento, the Maloofs should be willing to entertain a bidding war, unless it is out of pure spite and indifference to any league reaction opposing such actions.
There are other hurdles for the deal to clear, including an up-or-down vote from the Board of Governors after a recommendation by the league’s relocation committee, headed up by none other than Clay Bennett. Bennett saw firsthand the difference in how the Seattle politicians turned their back on the Sonics when he arrived, independent of his and the league’s mishandling of that situation, and he has been extremely impressed with Sacramento’s efforts to keep their team.
However, David Stern has said he would try expedite any sale that moves a team to Seattle.
Hansen and the Maloofs will need to convince Bennett and the other 29 owners that torching the No. 20 Sacramento market, along with all of the negative attention the league’s relocation behavior will receive, will be worth the incremental benefit of going to a somewhat larger market with a handful of professional sports teams.
There are plenty of benefits to being in Seattle, and Hansen is the type of owner that they want. He and his group are about to throw nearly a billion dollars to obtain a franchise that Forbes valued at $300 million. And there is some sentiment that Seattle needs to be indemnified for what happened to them, though most sane people would say that two wrongs don’t make a right.
In Sacramento, this is the ultimate show us your hand moment. Look for mayor Kevin Johnson and his people to respond soon, and as we know with the Maloofs if there is anybody that can’t close a deal – it is them.
UPDATE: CBS 13′s Stephen Large reports that the Maloofs have rejected Hansen’s $500 million offer, and mayor Johnson has tweeted his previously successful message of “It’s not over.” This now has the look of a bidding war, and we’re likely in the end game with two cities being dragged through the mud at the same time.
UPDATE II: The Sacramento Bee’s Ryan Lillis tweeted “Talks related to #NBAKings sale have been ‘conceptual,’ source tells The Bee. Reports sale is done are premature.” Buckle up folks, this story has already hit ludicrous speed in just about every way imaginable.
Mar 8, 2014, 8:00 AM EST
Earlier this week I gave you a few highlights of my conversation with author Jeff Pearlman, who has a fantastic new book out on the Showtime era Lakers. Now, I bring you our entire conversation. In this latest edition of the PBT podcast myself and Eytan Shander of NBC Sports Radio discuss Phil Jackson and his…
Mar 8, 2014, 2:54 AM EST
The Lakers have lost a lot of games this season (42 to be exact), but the historic 48-point blowout loss to the Clippers Thursday night on national television hit the fan base hard. Many of these fans rooting for them to lose and get a better draft pick were embarrassed at the lack of defensive…
Josh McRoberts with an incredible behind-the-back pass to set up Chris Douglas-Roberts for three (VIDEO)
Mar 8, 2014, 12:02 AM EST
This pass was incredible in two distinct ways. First, the ability shown by Josh McRoberts to recognize that his teammate was wide open behind the three-point line from his position in the paint was fantastic. But the pass? It wasn’t just daring to attempt, but the physical level of skill required to get it there…
Sixers coach Brett Brown on whether we’ll see Nerlens Noel play this year: “It really is, ‘Who Knows?’”
Mar 7, 2014, 10:34 PM EST
Nerlens Noel was selected with the sixth overall pick in last summer’s draft, and the Sixers traded Jrue Holiday for him in order to jumpstart their rebuilding process. But we have yet to see Noel take the floor for Philadelphia this season, in much the same way that Andrew Bynum missed his entire year with…
Mar 7, 2014, 9:05 PM EST
It’s been a frustrating season in Milwaukee, and it’s gotten to the point where the team’s players are taking out those emotions violently against their opponents. Ersan Ilyasova received a suspension for the punch-shove combo he delivered to Reggie Evans, and we can expect the same punishment to be handed down to O.J. Mayo, who…
Mar 7, 2014, 7:55 PM EST
The nationally televised schedule of games that appear on TNT Thursday nights is apparently etched in stone. There’s no other way to explain the network keeping a Clippers-Lakers game on the air when a perfectly good Suns-Thunder matchup — one between two high-scoring playoff teams — was on the slate the very same night. Logistics…
Mar 7, 2014, 6:34 PM EST
Teams keep asking if Phil Jackson wants to come back to coaching. This is a guy who has had both hips and one knee replaced (with the other likely), who has spent too many years on the road sleeping in beds too short for his 6’10” frame, having showerheads hit him in the middle of…
Mar 7, 2014, 5:46 PM EST
According to every reliable source, Carmelo Anthony is going to opt out of the final year of his contract this season and look either to re-sign a five-year deal with the Knicks or move on to another team to be part of a contender. If Anthony wants to jump ship and go somewhere like oft-mentioned…
Mar 7, 2014, 4:25 PM EST
You can’t do that. Go ahead and argue that what Milwaukee’s Ersan Ilyasova really did was shove the Kings’ Reggie Evans if you want, you still can’t do that. The two were battling for rebounding position and after the play Ilyasova turned on Evans punch/shoved him and knocked him to the ground. I have checked the NBA…
Mar 7, 2014, 3:55 PM EST
The only time the Timberwolves seemed to take charge in their loss to the Knicks Wednesday night was in the third quarter when Nikola Pekovic took over. It’s not a shock if you’ve watched the Timberwolves this season — he averages 18 points a game on 53.9 percent shooting, the Minnesota offense is 4.7 points…
Woodson says ‘legally, no one can recruit anyone’ in response to Melo-Bulls talk. But that’s not necessarily true.
Mar 7, 2014, 3:23 PM EST
Knicks head coach Mike Woodson has enough to worry about, including whether he’ll even be employed by the team next season, before he can begin to think about what Carmelo Anthony may choose to do as a potential free agent this summer. The latest rumor, of course, had Anthony being told by the Bulls’ Joakim…
Mar 7, 2014, 2:11 PM EST
Here’s the real story: Kevin Love and Tyson Chandler are friends. They met as part of Team USA and like each other, text each other, have worked out together at points in the offseason. Like you with your friends, they like to poke fun at each other sometimes. So when Chandler said Love can’t play…
Mar 7, 2014, 1:29 PM EST
This drives some fans crazy. Maybe they live in a mythical world where they think the players their team should share a hatred of their rivals/opponents. They like to believe that kind of hatred used to exist among players, as if Michael Jordan and Charles Barkley didn’t used to hang out and party together. Players…
Mar 7, 2014, 12:46 PM EST
No matter how his NBA head-coaching career unfolds, Brett Brown will always have a first-season losing record on his résumé. His 76ers will finish somewhere between 15-67 and 36-46 – likely much closer to the former. The 76ers struggling was no surprise. In fact, they’ve probably exceeded expectations. So why did Brown put himself in…
Mar 7, 2014, 11:45 AM EST
Phil Jackson has always done enough to ensure he remains on the radar for coaching vacancies (and now, front-office positions, too). And why shouldn’t he? Jackson is definitely one of the best coaches of all time, maybe even the best. I’m not convinced he can still physically withstand the rigors of coaching, but every hire…
Mar 7, 2014, 11:37 AM EST
Rudy Gay was inefficient as a Toronto Raptor. This is not up for debate. He attempted 17.6 shots per game in Toronto, making just 42.8 percent of the 2-pointers and 41.1 percent of all attempts. The only remaining question was whether Gay, who’s clearly not too fond of stats, knew he was inefficient as a…
Mar 7, 2014, 11:08 AM EST
Joakim Noah is playing the best basketball of his career the past few weeks and the Bulls are the third best team in the Eastern Conference. With Derrick Rose down and Luol Deng traded Noah has become the fulcrum of the Bulls offense, and it’s working as Noah has had a triple double in two…
Mar 7, 2014, 10:30 AM EST
Let’s connect the dots. Joakim Noah is reportedly recruiting Carmelo Anthony to the Bulls. Melo has a son named Kiyan, who turns 7 years old today. Happy Birthday, Kiyan! Kyian’s favorite player is reportedly Derrick Rose. The missing dot: Derrick Rose. What does he think about all this? Chris Broussard of ESPN: One source also…
Mar 7, 2014, 10:01 AM EST
Is LeBron done with the mask, or is he just taking a break? Midway through the first quarter of the Heat’s loss to the Spurs, LeBron took his mask off during a timeout. He’d missed his only shot, and Miami trailed by eight. He didn’t exactly light the world on fire after that, shooting 6-for-18…
Mar 7, 2014, 9:33 AM EST
The Clippers beat the Lakers, 142-94, Thursday night – the biggest loss in Lakers history. In the spirit of Lakers schadenfreude, let’s dig a little deeper into the blowout: 48 – Margin of victory/defeat, the largest for the Clippers/Lakers in each franchise’s history 3 – Years since any team has been beaten so badly. The…
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- Is Carmelo Anthony’s smart play to opt in and play out contract with Knicks? 16
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