Blog Entry

Maloofs signal they're open to relocation

Posted on: January 11, 2011 12:16 am
 
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. 
Comments

Since: Nov 9, 2007
Posted on: January 11, 2011 4:30 pm
 

Maloofs signal they're open to relocation

The primary reason the NBA likes the Kansas City option is that they have a state of the art arena built and financed already.  A San Jose team would be intriguing considering the success the Sharks have had drawing but I doubt that the Warriors would just "let" that happen without a big fight.  San Jose has a larger, wealthier population than Oakland and has the facility in place with HP Pavillion. A nice rivalry would bloom with the two teams in the same metropolis as well.

The St. Louis and Pittsburgh options are interesting as well, especially since the Penguins have just moved into a new facility.  I wouldn't keep Seattle out of the speculation either.  That city supported that franchise for a long time and they are gone because, essentially, they sold it to the wrong person.  I have also heard about Nashville rumblings.  Better than Memphis but hard to see it happening unless Memphis moves. 



Since: Apr 16, 2007
Posted on: January 11, 2011 2:40 pm
 

Maloofs signal they're open to relocation

How about going back even farther and bring back the Rochester Royals



Since: Aug 11, 2008
Posted on: January 11, 2011 2:20 pm
 

Maloofs signal they're open to relocation

Go back to Cincinnatti where they were before Kansas City. Bring back the Cincinnati Royals!



Since: Jun 26, 2009
Posted on: January 11, 2011 1:31 pm
 

Maloofs signal they're open to relocation

LAS VEGAS is the way!



Since: Mar 2, 2008
Posted on: January 11, 2011 1:20 pm
 

Maloofs signal they're open to relocation

I agree with that LeBum guy, contraction would be good for the league.  He shouldn't have been all "I was misquoted".  Stand up for yourself, contraction makes sense in this dire league called the NBA.  Look around at how attendance works.  Look at what the owners do need to lose when it comes to salary.

Mr. Stern created this problem, players prospored as much as they could.  But the problem is far to relevent to ignore.  Accepting contraction is sometimes the best move.  Then we could see more LeBum & co. on the tvs & espens highlight reels.  Make them feel mo popular due to mo exposure, like MJ had in the day.  Either lose more usless roster spots, or just lose entire teams.  Lots of waste is going on in the NBA.

More contraction, one way or the other is good for the NBA.



Since: Jul 27, 2007
Posted on: January 11, 2011 1:06 pm
 

Maloofs signal they're open to relocation

Putting a team in Anaheim (which other people have stated is basically LA) makes about as much sense as putting 3rd MLB team in the NY area.... which is NONE.



Since: Jul 27, 2007
Posted on: January 11, 2011 1:04 pm
 

Maloofs signal they're open to relocation

Your point about attendance problems and how it correlates to team performance is right for the Kings AND Bobcats. The Bobcats have had one winning season in their brief league tenure. After their playoff appearance last year (both of those home games were over capacity), season ticket sales were dramatically up. Over 2,000 new season ticket holders and renewal rate of 95% which was tops or near the top in the NBA.



Since: Jan 8, 2008
Posted on: January 11, 2011 12:52 pm
 

Maloofs signal they're open to relocation

Moving a team to las vegas is STUPID, if you have ever been to vegas you would know that with all the attractions and sights nobody would want to go to a basketball game especially if that team isnt doing well and you want nba players to act professional? imagine how much trouble they are going to get into in that city its called sin city for a reason,  going back to attendance, the only reason why the thunder are making profit is because they had a good team hand gifted to them, if the team sucked like almost all brand new teams they would be having attendace problems too. The NBA is a big joke they are so going to have a lockout next season, you have owners that want to sell their teams and the only people whom want to buy the team want to move it (hornets) and ironically that team had already been moved from charlotte the new expansion team has been having attendance problems (bobcats), and now you have a team in which the owners said they want to move the team, should be called the las vegas casino kings, idk why they think moving the team will do that much better if you 8-26 in sacramento your going to be 8-26 in las vegas



Since: Jan 5, 2009
Posted on: January 11, 2011 11:59 am
 

Maloofs signal they're open to relocation

Nobody outside of sacramento cares about the kings,  just do the nba a favor along with the raptors and fold already.



Since: Mar 12, 2007
Posted on: January 11, 2011 11:18 am
 

Maloofs signal they're open to relocation

I say move 'em to St. Louis or Pittsburgh.


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