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Tag:Sacramento Kings
Posted on: April 12, 2011 8:51 pm
Edited on: April 12, 2011 8:56 pm
 

Maloofs owe the NBA $75 million, might lack votes

Posted by Royce Young



According to KFBK in Sacramento, the Kings have taken out a line of credit worth $75 million from the NBA. The report says that Kings spokesman Mitch Germann said the team used the line of credit but wouldn't say specifically on what.

This is something I did not know about, this line of credit thing. Evidently, the NBA has $2.3 billion available to every team in its line of credit program. The report says this: "NBA Spokesman Mike Bass says 19 teams have borrowed money through the league Line of Credit program. The max any team can borrow according to Bass is $125-million." News to me. And the Kings didn't hesitate in using it.

I think most people's first thought was that the number has something to do with relocation, which is very expensive. Just to relocate, you have to pay $30 million to the league as a fee. And that's just the start of it.

Obviously the franchise is struggling financially, hence the relocation talks. The Maloofs have seen their various business ventures sag a bit during the recession and the Kings are not immune as their value has dropped (according to Forbes) by almost $100 million.

Here's something interesting mentioned in this report though -- the Kings might not have the league support needed to relocate to Anaheim:
Sources have told KFBK that an approximately 200-page document outlining the Kings move to Anaheim currently sits on NHL Ducks Owner and Honda Center operator, Henry Samueli's desk. Just last week lawyers were combing through the finer details of the deal. Honda Center officials would not confirm if Samueli had signed off on the agreement.

Those close to the negotiations say Samueli and the Maloofs are not sure they have enough support from the rest of the league's owners to approve the move. Kings officials have said all four Maloof brothers will be attending the NBA Board of Governors' meetings this week in New York City to try and convince at least 15 other teams to allow the Kings to relocate.
It's already been made clear that both Laker owner Jerry Buss and Clipper owner Donald Sterling are not really in favor of making a new bedfellow in the Los Angeles area, but they Maloofs have a lot of convincing to do to get a majority of owners on their side.

With the last NBA relocation, the Sonics moving to Oklahoma City, 28 owners voted in favor of it. The only two that didn't were Mark Cuban and Paul Allen.

Relocation is a mess. It's not easy on anyone, especially fans. The Kings are clearly losing money and want to try and find greener, as in money-making, pastures. It's hard to keep up with this thing but maybe it's a little too early to etch the move in stone.
Posted on: April 11, 2011 11:01 pm
 

Kings expected to make relocation pitch to NBA

Sacramento Kings owners Joe and Gavin Maloof are reportedly expected to make their relocation pitch to the NBA Board of Governors later this week.maloof-family Posted by Ben Golliver.

On Wednesday night, the Sacramento Kings close out their regular season against the Los Angeles Lakers. Less than 24 hours after the final buzzer, USA Today reports, the team's owners, Joe and Gavin Maloof, are expected to be in New York City, pitching their plans to relocate the franchise to Anaheim to the NBA's Board of Governors, which much approve any such effort. 
The Heat surrounding a potential move of the Sacramento Kings to Anaheim, Calif., has ratcheted up going into the NBA Board of Governors meetings Thursday and Friday in New York City.
Club owners Joe and Gavin Maloof are expected to make a presentation about relocating the franchise after 26 years in Sacramento. Last month, the board approved the Kings' request to extend the March 1 deadline for filing a relocation application to April 18. That gives the Maloofs "the opportunity to discuss its options," the NBA said in a statement.
Generally speaking, the relocation approval process is mostly a rubber-stamping, although pushback from Southern California's two current residents -- the Los Angeles Lakers and Los Angeles Clippers -- could require the Kings to pay a relocation fee or make other concessions.

On Monday night, Kings fans staged a "Here We Stay" event during the team's game against the Oklahoma City Thunder, creating and distributing group chants aimed at convincing the Maloof brothers to keep the team in Sacramento.

While details of the Kings' relocation effort have been kept relatively quiet, it is believed the team will change its name to the Anaheim Royals and play next season in the Honda Center.
Posted on: April 11, 2011 12:40 am
Edited on: April 11, 2011 12:48 am
 

Monta Ellis taken to hospital after hard fall

Golden State Warriors guard Monta Ellis takes a hard fall against the Sacramento Kings and was taken to a hospital afterwards. Posted by Ben Golliver.

With roughly a minute to go during the fourth quarter of a game and his team leading the Sacramento Kings, 100-97, Golden State Warriors guard Monta Ellis took a nasty spill that forced him out of the game with an apparent head injury.

Ellis drove into the paint against Kings big man DeMarcus Cousins, drawing a foul as he catapulted in the air and flung the ball at the rim. On his way down, Ellis landed hard on his right side and lay in a heap in the paint. He was able to walk off the court under his own power, but the Warriors tweeted after the game that Ellis "will be taken to a local hospital for further examination after hitting his head late in tonight's game." 

CSNBayArea.com added these details.
He landed awkwardly and appeared to hit the side of his head on the hardwood floor. Ellis remained on the ground for a minute or so and when he got up appeared visibly woozy. Ellis, who got fouled on the play, went to the bench and did not return ... Warriors coach Keith Smart said after the game that Ellis had been bothered throughout the game by a sore ankle. Ellis ended up playing just 26 minutes, but sat for most of the fourth quarter.
The Warriors also noted that Ellis "will not travel with the team to Denver for tomorrow's game." Following Monday's game against the Nuggets in Denver, the Warriors close their season at home against the Portland Trail Blazers.

Here's video of the play.



To add insult to the injury, the Warriors lost to the Kings, 104-103, giving up four straight points in Ellis' absence. Ellis is Golden State's leading scorer at 24.3 points per game, and his absence could have playoff implications, as both the Nuggets and Blazers are jockeying in the playoff seeding race. Denver is currently the No. 5 seed while Portland is currently the No. 6 seed.

Updates on Ellis' health when they become available.
Posted on: April 6, 2011 10:29 pm
Edited on: April 6, 2011 10:31 pm
 

Tyreke Evans posterizes Neal into the next galaxy

Get out of the way, Gary! For God's sake, get out of the way!
Posted by Matt Moore

I... I mean... He just... He... Poor Gary Neal was just trying to... I thought Reke didn't have his legs back... I mean... 

Just watch. 



Murder was the case that they gave him. 

The Kings would wind up losing by moderate double-digits to the Spurs, but that's a highlight that will stick in the memory. And a reminder that Evans is a huge part of this team's future. With Thornton, Cousins, and a high draft pick, the Kings aren't a lock to be terrible down the line, wherever they end up. 

I can't stop watching it. It's like a horror film. 

Get out of the way, Gary! Get out of the way!

(HT: Jose3030)
Category: NBA
Posted on: April 5, 2011 9:24 am
 

Kings F Omri Casspi shops for a new team

Sacramento Kings forward Omri Casspi says he is ready for a change of scenery. Posted by Ben Golliver. omri-casspi

The only thing more demoralizing than riding the pine while your team goes 22-54 is the thought that you could be stuck in the same spot next season. 

That's where Kings forward Omri Casspi finds himself as the clock winds down on Sacramento's season. Casspi's minutes and shots are slightly down this season, his second year in the NBA, and he's not sure how or where he fits into Kings coach Paul Westphal's plans.

News10.net reports that Casspi, the first Israeli ever to play in the NBA, expressed frustrations with his current situation in an Israeli publication, stopping just short of publicly demanding a trade.
"I know that there are many teams, including some playoff teams, that want me ahead of next season." Casspi wrote. "I hope to find myself in a team that appreciates me as a player and a person, a team that plays like a team. 
"I still don't know if I will definitely not be continuing with the Kings. I've got a contract and love the fans, the city, the owner and the general manager. But things haven't worked out and that is legitimate.
"Clearly the current situation is not ideal for the team and for me. There are other teams wich suit me better and since I have an excellent relationship with the players and the staff, I hope that they appreciate me enough to let me leave for a place where I can play basketball."
Casspi faces a very similar situation to what Portland Trail Blazers guard Rudy Fernandez dealt with in recent years. While he's stuck on Sacramento's bench and might not be a key cog in Westphal's rotation, he's a difficult piece for management to part with via trade. He's young (22 years old), he's shown toughness and flashes on offense, his best basketball is still ahead of him and, perhaps most importantly, he's locked into an affordable rookie deal that runs through 2012-2013 at least. Although he might not be receiving the A+ treatement from Westphal, he represents a highly-prized asset for management.

Even if Casspi wasn't planning for the cash-strapped Maloof family, most teams would look at Casspi's $1.3 million contract next season and think that he is a player worth retaining. Casspi averages 8.8 points and 4.4 rebounds in 24 minutes this season. Is he capable of more if given a larger role? Sure, most bench players are. But patience is a virtue here: There's no guarantee Westphal will be around next season, let alone for the long haul. How many times have we seen a player's fortune change under a new coaching regime? Too many to count.

While Casspi is almost certainly correct in stating that many teams are interested in him, that doesn't necessarily mean they are willing or able to give the Kings equal value for his services. Indeed, trading away a player on his rookie deal is no easy task because teams are more likely to decide to wait and make things work rather than risk watching a cheap, young player blossom elsewhere.

Is Casspi stuck in Sacramento? Definitely not. But he'd do well to acknowledge the possibility that he could be there for awhile and to realize that his situation is likely not as bad as it seems right now.
Posted on: March 30, 2011 8:37 am
Edited on: March 30, 2011 8:40 am
 

Anaheim Mayor: SoCal can support 3 NBA teams

Anaheim Mayor Tom Tait says that Southern California is big enough for three NBA teams. Posted by Ben Golliver.

On Tuesday night, the Anaheim City Council approved a bond that would facilitate the move of the Sacramento Kings to the city. The pressing question on everyone's mind is whether Southern California can support the Los Angeles Lakers, the Los Angeles Clippers and a relocated Kings team that is rumored to be named the Anaheim Royals.

ESPNLA.com reports that Anaheim's mayor, Tom Tait, says that he is confident the region's population demographics will support a third NBA team.
"I'm confident that an NBA team in Orange County will do very well," Tait said. "In terms of the potential fan base, we have more than 3 million people in Orange County alone. Add the Inland Empire and San Diego, and you have millions more. We are all part of the Southern California region, but Los Angeles and Orange County are far apart. Anyone who lives here knows that. We will fill the stands of the Honda Center when the NBA comes to town, believe me."
Meanwhile, City Council Member Kris Murray not only said she was looking forward to coming up with "some creative way to replace the cowbell," she also eagerly opened up the "smack talk" with nearby Los Angeles.
"If I can start the smack talk a little bit early, the traffic models these days show that more folks commute from L.A. to Orange County than vice versa," Murray said. "So L.A. is our biggest suburb, and we are going to have a tremendous number of fans fill that arena." 
For the Maloof family, this relocation boils down to: "the grass in greener on the other side." It's too bad the people tending the nicer yard are already being jerky about it. Comments like Murray's remind everyone who doesn't live in California why they're so happy they don't live in California.

Anyway, by comparison, the greater Sacramento area is just over 2 million people, so if the Kings are to claim Orange County as their own, there's no question that they are upgrading in market size and potential fanbase. Plus, local government enthusiasm are clearly present in Anaheim. For the Kings, it probably feels really nice to be wanted. 

The big struggle for the franchise will be putting a winning product on the court in the relatively short term to build on that momentum and to keep that customer base engaged. Everybody likes something new; nobody likes a loser.
Posted on: March 28, 2011 8:10 pm
Edited on: March 28, 2011 8:21 pm
 

Sacramento official issues letter to Anaheim

City manager for Sacramento sends a letter to his counterpart in Anaheim, discussing money that would be owed to Sacramento if the city of Anaheim does not "cease negotiating" with the Kings
Posted by Matt Moore

Enter the lawyers. 

The Sacramento Bee reports that officials for the city of Sacramento have sent a letter to officials in Anaheim ordering them to "cease negotiating with the Kings", and repeatedly brings up the $77 million the Kings owe the city of Sacramento:
Sacramento city officials have sent a letter to Anaheim telling that city to cease its negotiations with the Sacramento Kings, and asking the Anaheim City Council not to vote on issuing $75 million in bonds Tuesday or take any other actions to induce the Kings to move to Anaheim.
The letter, issued minutes ago by assistant city manager John Dangberg, says if Anaheim insists on continuing negotiations with the Kings, Sacramento "must contractually require" the Kings to pay off the estimated $77 million the team owes the city of Sacramento.
via Kings Blog and Q&A: City of Sacramento directs Anaheim to stop negotiations with Kings.

Kaboom. 

The letter has three requests for Anaheim. One, to not authorize issuance of Bonds for the renovation of the Honda Center. Two, to cease negotiations with the Kings. And if they choose to continue such discussions, to make any move dependent on the Kings repaying the $77 million to Sacramento. That of course dwarfs the money the Kings would owe in relocation fees and the $50 million loan Samueli has discussed loaning the Maloofs. 

This letter is of course the precursor to suit in the event that negotiations continue and the Kings do file for relocation. The city's latest proposal fell flat on its face, but this letter makes it apparent they have little intention of going down completely quietly. What, if any, merit this course of action will garner in court isn't known at this time, but it's definitely a scare tactic to try and get the crows away from the soon-to-be carcass of professional basketball in Sacramento. 
Posted on: March 28, 2011 3:31 pm
 

Lakers will lose money if Kings move to Anaheim

Posted by Royce Young

There are a lot of reasons people in Los Angeles don't want the Kings to move next door. But probably the best one? Money.

Phil Jackson already mentioned how he doesn't see how a metropolitan area could support three professional teams, but that's mainly an issue for the Kings. Because the Lakers will get their support. With Blake Griffin, so will the Clippers.

But that doesn't mean they'll lose some money. Especially the Lakers in regard to their giant new television deal. From ESPN LA:
"Although finances of the deal were not released, some reports at the time pegged the value of the pact at $3 billion, a figure Time Warner Cable and the Lakers have since refuted. If a third NBA team moves into the market, however, the Lakers' television deal will decrease by about just under 10 percent ...

The Lakers' agreement, which begins with the 2012-13 season and covers all preseason, regular-season and postseason games not nationally telecast, was viewed as a major blow for current rights holders Fox Sports West and KCAL-TV. The Kings, however, could lessen that blow and create competition for viewers and fans in Orange County if they filled the void left by the Lakers on both outlets."
Nobody likes the split a pie three ways when it only has to be done two. If the Lakers had it their way, the Clippers would be booted out of the city too, but that's not happening. So you can imagine how they feel about a third party moving in down the street.

What you're seeing here with this whole Kings relocation thing is a bunch of negatives without a whole lot of positives. I honestly haven't seen a story yet revealing all the benefits of the Kings move. Yeah the arena in Anaheim is nicer than the place formerly known as Arco, but it's still 17 years old.

Both the Lakers and Clippers are reportedly very much against the move and have even explored options to block it, but it doesn't appear they'll be able to.

Between the lack of a waiting fanbase, the competition between the Clippers and Lakers, the loyalty of Sacramento fans, the Anaheim Angles owner questioning it and now people are losing money, why move? It's a question I keep asking myself, but one that the Maloofs evidently don't care about.
 
 
 
 
The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com