Tag:Gavin Maloof
Posted on: January 11, 2011 12:16 am
  •  
 

Maloofs signal they're open to relocation

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. 
Posted on: October 23, 2010 2:14 pm
Edited on: August 14, 2011 8:02 pm
 

Sacramento Kings owner: we won't contract or sell

Sacramento Kings owner Gavin Maloof says his team will not be contracted or sold. Posted by Ben Golliver maloof-brothers
 
The hot topic in the NBA this week has been the possibility of contraction, and how and why it's being used as a negotiating technique as the players and the owners work to create a new Collective Bargaining Agreement.  When the story first broke earlier this week, I took a look at how the idea could be seen as an "either you're in or you're out" challenge to small-market owners, a dare to struggling owners to fold, sell, or relocate so that they do not create unnecessary complications later on down the road during negotiations with the players.  That brings us to the Sacramento Kings, who are in a small market, have been embroiled in a lengthy struggle to get a new arena, have been linked to the city of Seattle in rumors, and who have struggled financially since falling from their glory days earlier this decade. On Saturday, Kings co-owner Gavin Maloof stated unequivocally to Joe Davidson of the Sacramento Bee that his franchise should not be linked with the recent talk of contraction, even after NBA Commissioner David Stern expressed frustration on Friday with the Kings' inability to get a new arena approved in Sacramento. 
"My optimism on there being a new building (in Sacramento) has faded completely," Stern said. "We really tried hard, the Maloofs spent a good deal of money. … And frankly, it wasn't meant to be.
"I don't have any more good ideas. Where we flow on that, right now we have a season to worry about, and I know that the Maloofs are spending their time feeling really good about their Rookie of the Year last year, their draft choice this year, their coach and the general makeup of their team."
Upon hearing Stern's quote, Gavin Maloof told The Bee: "We're not contracting. That's not going to happen. No way we'll fold – and no way we're selling."
Gavin Maloof and his brothers are widely regarded as a strong ownership group with a deep commitment to their organization. With a solid, developing young nucleus that includes 2010 Rookie of the Year Tyreke Evans and 2011 Rookie of the Year candidate DeMarcus Cousins, the team is only on the rise, both basketball-wise and finances-wise. These statements are a promising sign for Kings fans and they stand as an example league-wide, too: bullying struggling clubs won't produce instant results. With that said, surely Kings fans are reading Maloof's quote and asking themselves why he didn't explicitly rule out the possibility of relocation. While relocation is surely a better option than contraction for any NBA team, there wouldn't be a tangible difference between the two for Kings fans.
 
 
 
 
The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com