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View Full Version : Maloofs in negotiations to relocate Kings to Virginia



Punk
11-30-2012, 01:35 PM
The Maloofs have had a rough couple of years, and it's largely their own doing. After the 2010-11 season, it looked like the city of Sacramento was going to lose the basketball team they've hosted since 1985. The Maloofs tried to sneak into the city of Anaheim and add a third NBA team to the Los Angeles/Southern California area.

After a phenomenal rallying of support by the city of Sacramento, the team's fans and people around the league who knew what was happening wasn't correct, the NBA basically gave Sacramento one year to figure out an arena deal with the Maloofs. During All-Star weekend in Orlando, a deal was agreed upon in handshake form, causing a great deal of pride and a sense of accomplishment throughout the NBA front offices and the Sacramento Kings community.

Then the deal fell apart because the Maloofs claimed it wasn't a fair deal. Since then, other cities have been looking into poaching the Kings from Sacramento. Virginia Beach is one of the persistent cities right now. Via Sactown Royalty:

According to WAVY-TV's Bruce Rader, Virginia Beach mayor Will Sessoms has reached a deal with Comcast-Spectacor and apparently the Maloofs to build a city-owned arena in that fair burg, with the cable company as the operator and the Kings as the primary tenant. Next Tuesday, Rader reports, Sessoms will ask the Virginia Beach City Council to approve a request to the State of Virginia for $150 million to help build the arena and finance the team's relocation. The apparent angle will be that doing the deal gives Virginia its first professional major league team since ... the ABA's Squires?

Rader says $80 million of that money will go toward relocation costs for the Kings. The Maloofs owe the city of Sacramento just less than that amount, and the standard recent relocation fees from the NBA have been $30 million. The Maloofs could also default on their loan with the city and fork over a $25 million stake of the team, per the loan agreement.

There are an enormous number of hurdles that Virginia Beach would have to clear in order to land the Kings. The first major hurdle is covering the outstanding debt the Maloofs have accumulated over the course of their ownership of the Kings. The Maloofs owe the city of Sacramento nearly $80 million, and they don't appear to be in the financial shape to cover relocation fees and throw any money toward building an arena.

They've basically refused to put up a decent amount of money that they don't already owe during this arena fiasco because it looks like they might be hurting for the collateral to do so. They barely own any of the Palms Casino in Las Vegas (just 2 percent) and sold their alcohol distributorship in order to attempt to save the casino.

The Maloofs have offered up a dizzying array of excuses that don't show anything substantial as they try to get out of having an arena in Sacramento. It seems like Anaheim or Seattle would be better markets for the Kings. However, Virginia Beach would get the Maloofs away from a lot of bad relationships they've fostered with the city of Sacramento, its officials and the fans of the team.

After the financial costs, the NBA would have to approve the relocation, which might be hard for them to bring themselves to do. After the bad press and fallout of the Sonics moving from Seattle, the NBA has been much more careful about protecting teams in existing markets. In the past few months alone, the NBA has worked hard to make sure the Grizzlies in Memphis and the Hornets in New Orleans have local backing and sound ownership futures to ensure those teams stay in those markets. And after seeing the way the Maloof-Sacramento debacle has unfolded, commissioner David Stern and the NBA seem to be pretty disappointed in where the Kings' situation is headed.

If they wanted to submarine such efforts for as long as they possibly can, it could kill a deal in getting this particular team to leave Sacramento for the time being.

For what it's worth, the 2012-13 Nielsen rankings have the Virginia Beach-Norfolk-Hampton market ranked 44th in the top television markets. The Sacramento-Modesto-Stockton market is ranked 20th.

The move by Virginia Beach seems like a no-brainer. Even at the estimated arena cost of $350 million to $400 million, they could bring in quite a bit of revenue that isn't in the city now to make up for the tax hikes and costs to get such a deal done. That is assuming the Maloofs don't decide to claim an arena deal isn't fair after they've already agreed to it.

They have a reputation for doing just that.

http://www.cbssports.com/nba/blog/eye-on-basketball/21176374/virginia-beach-is-making-a-push-to-get-the-kings-to-relocate-there

Seems like another step closer...They simply refuse to sell the team.

JasonJohnHorn
11-30-2012, 01:56 PM
Tl:dr

nickdymez
11-30-2012, 01:58 PM
good. Get the Kings out of cali please!

Baller1
11-30-2012, 02:01 PM
****ing Virginia??

IBleedPurple
11-30-2012, 02:05 PM
Sorry Kings fans.......terrible ownership

jmoney85
11-30-2012, 02:07 PM
****ing Virginia??

have you ever been to Virginia beach?

LOOTERX9
11-30-2012, 02:11 PM
Good move by the kings

Hellcrooner
11-30-2012, 02:13 PM
Hate it.

Sacramento fans deserve their team.

And if it had to be moved, Kansas City , Cincinnati and Rochester should have Firsts dibs to offer money.

Avenged
11-30-2012, 02:14 PM
Nice, I like it. Something new.

ee
11-30-2012, 02:16 PM
****, bring them to seattle so I can at least see the Nets once a year....used to be two arenas I can go to, Vancouver and Seattle....Now Portland is like 4 hours away....

Hellcrooner
11-30-2012, 02:18 PM
Btw, reestructuring the divisions to have them in the east would be a nightmare.

There are already teams in the West conference that belong in the east ( memphis, N.O) and they would have to move yeat another east team west ( Indi, Atl?, MIlw?).

JLynn943
11-30-2012, 02:26 PM
Hate it.

Sacramento fans deserve their team.

And if it had to be moved, Kansas City , Cincinnati and Rochester should have Firsts dibs to offer money.

Agreed. And go figure that a couple of (other, not you) Lakers fans are quick to want the Kings out :rolleyes:

Don't the NBA owners have to approve the move anyway? Like a relocation committee or something? I don't understand how they could give the okay for moving from the 20th largest media market to the 44th.

Everything the team needs is in Sacramento. There are people who have worked their ***** off to try and get an arena deal done. The bottom line is that the Maloofs just can't afford to own a team anymore and are just looking for whatever will get them more money to prolong holding the team hostage. They need a new arena but they aren't willing/able to contribute at all. If they move to Virginia, it's a step down in all aspects except from what's coming out of their pockets. Nothing else will change. They still won't spend money on good players. They still won't attract those good players because of who the owners are. Stern needs to force a sale for the good of the league.

Sssmush
11-30-2012, 02:50 PM
does this mean that the epic Lakers vs Kings rivalry is ending?

DerekRE_3
11-30-2012, 02:50 PM
Fine with me. Hope this finally bankrupts those *****.

LTBaByyy
11-30-2012, 02:56 PM
Virginia????

No money to be made. Go to Seattle!!

THE GIPPER
11-30-2012, 03:03 PM
It seems like there's a Kings relocation thread every few months and nothing ever happens

RipCity32
11-30-2012, 03:08 PM
I would like to see them move to Seattle

mdm692
11-30-2012, 03:13 PM
Move the Kings and Grizzlies to the Eastern conference and give us CHi and MIL :).

PleaseBeNice
11-30-2012, 03:14 PM
nope. and IF, IF it ABSOLUTELY HAS TO COME DOWN TO RELOCATING, give them to seattle...ill be a fan

Randy West
11-30-2012, 03:17 PM
You would think the NBA would set some type of financial criteria for owning an NBA franchise. These guys are broke and they did it to themselves.

The only reason they would be considering this is new arena and no costs for the owners. In the Sacramento deal they had to come up with some money to get an arena. In this deal all they are bringing to the table is the team, no relocation money, no money for the arena, nothing.

I hope Stern and the NBA block this deal and force a sale. We had Ron Burkle and some other cat come forward and offer to purchase the team and build the arena on their dime the last go round.

Time for the NBA to do something about dirt bag owners who can no longer afford ownership of a professional NBA franchise.

Sly Guy
11-30-2012, 03:29 PM
Hate it.

Sacramento fans deserve their team.

And if it had to be moved, Kansas City , Cincinnati and Rochester should have Firsts dibs to offer money.

Seattle/Vancouver. No need to upset the conferences, and you have a large unrepresented population in that region.

topdog
11-30-2012, 03:31 PM
****ing Virginia??

Seriously... :facepalm: These guys seem like terrible owners and it sounds like they are a shitload in debt. Who seems prepared to pay whatever it takes to get a team back into Seattle? Chris Hansen.

Secondly, I do hate any city losing its team and especially Sacramento because I remember a time when the Wolves and Kings were building a nice little rivalry and I've been hoping both start improving enough to make that happen again.

Finally, I do think a new territory like Virginia Beach would be cool to have in the NBA, but am unsure of the viability of the location and also hate 1. to see fans lose their team (after their city has made major efforts to keep them no less) and 2. to see a team relocate across the country in a new market when Seattle is looking to resume its NBA tenure just a couple of states north.

abe_froman
11-30-2012, 03:33 PM
no wonder they're in financial trouble ,they refuse to make a sound decision where to relocate.first its an over-saturated market,now its a non existent one.just sell or go to seattle where they're desperate for some bball. hell vegas, vancouver,kc,st louis,pittsburgh are all better spots as well

JesusNYY_Savior
11-30-2012, 03:36 PM
Sucks for Seattle

Baller1
11-30-2012, 03:41 PM
**** the Maloofs. And **** Stern.

Raps18-19 Champ
11-30-2012, 03:42 PM
Why not go somewhere that'll get them more attention?

Go to Vegas.

torocan
11-30-2012, 03:43 PM
Mismanage the team for years, then don't take responsibility for it. The Maloofs made their own bed, they should lie in it.

They don't deserve to own a NBA franchise.

And if the Kings really end up being moved, the ONLY city I would want to see them move to is Seattle. They *really* got pooched the last time around.

Guppyfighter
11-30-2012, 03:43 PM
Move them back to Seattle.

DoMeFavors
11-30-2012, 03:44 PM
move the bucks to the west conference

stipe1280
11-30-2012, 03:46 PM
The Maloofs...another example of what's wrong with this country.

Hellcrooner
11-30-2012, 03:51 PM
Seattle/Vancouver. No need to upset the conferences, and you have a large unrepresented population in that region.

Blazers represent the area.
Vanvouver failed, and its too soon to try again.


And i feel confliceted about seattle.
i WANT sonics back, but i would preffer a team with no, or few history to be the one moved there , perfect example the bobcats.

It would be too much of a mess up to put kings there.

What do they do? mix the history? Put 2 rings instead of 1 each? numebrs retired, both franchises?

Dont like the idea.

tapajafri
11-30-2012, 04:15 PM
good. Get the Kings out of cali please!

why? 4 nba teams in california is great. shows how much better cali is than everyone else. besides, sacramento has best fan base in the entire nba.....when the team is good.

DoMeFavors
11-30-2012, 04:19 PM
why? 4 nba teams in california is great. shows how much better cali is than everyone else. besides, sacramento has best fan base in the entire nba.....when the team is good.

When the team is good? So that means that they are bandwagoners....and its cause California is so big.

DerekRE_3
11-30-2012, 07:27 PM
When the team is good? So that means that they are bandwagoners....and its cause California is so big.

Would you pay 10 bucks to park and another 25 bucks for a ticket to see that train wreck of a team? A lot of people in Sac aren't going to games because they hate the Maloofs and don't want to give them any of their money.

They are ****ing scumbags.

Baller1
11-30-2012, 07:53 PM
Would you pay 10 bucks to park and another 25 bucks for a ticket to see that train wreck of a team? A lot of people in Sac aren't going to games because they hate the Maloofs and don't want to give them any of their money.

They are ****ing scumbags.

Bennett/Sonics/Key Arena all over again.

Just wait, pretty soon the rest of the NBA will pull the whole "you guys don't support your team so you don't deserve them" ********. Same thing happened with Seattle. No one wanted to support ownership, and it skewed people into believing that Seattle didn't have a fanbase anymore.

It's a vicious cycle.

CubsBullsBucs
11-30-2012, 08:07 PM
Bad news for Sacramento and Seattle

Sactown
11-30-2012, 08:17 PM
If they move I'm probably done watching basketball

mamba24
11-30-2012, 08:27 PM
I dont care if Sacramento goes or stays... I'm sure the league would figure out a new structure that would be just fine.

LAKERMANIA
11-30-2012, 08:31 PM
Send them to Seattle

sacgiants1213
11-30-2012, 08:34 PM
The Maloof brothers, mainly George Maloof, is one of the few people that i truly hate. Hopefully they go bankrupt.

Baller1
11-30-2012, 08:36 PM
Send them to Seattle

If only, if only... :sigh:

Quinnsanity
11-30-2012, 08:46 PM
Shame they aren't going to Seattle. Also who goes to the West with the Kings on the east coast? My guess would probably be Indiana.

RLundi
11-30-2012, 10:15 PM
Seriously?? Utah and OKC is bad enough, but Virginia??

NBA_Starter
11-30-2012, 10:53 PM
Please no, that is too close for two teams.

ManRam
11-30-2012, 11:01 PM
Seriously?? Utah and OKC is bad enough, but Virginia??

You do realize that the Washington-Arlington-Alexandria are is the 7th most populated area in the country. Yes, Washington is included in that and already has a team, but that whole area is just 100% sprawl. LOTS of people there.

ChicagoFan4Eva
11-30-2012, 11:01 PM
Seattle seems smarter than the other options.

ManRam
11-30-2012, 11:04 PM
Eh...I didn't realize we were talking Virginia Beach. It's still densely populated...but meh...

The Virginia Beach-Norfolk-Newport News area is 36th in the USA in terms of population. It probably would still work...but Seattle easily is the better option.

rocket
11-30-2012, 11:04 PM
****ing Virginia??

Sucks man.

NYKNYGNYY
11-30-2012, 11:15 PM
I feel bad for kings fans this has been dragging out for a while now ...I like the Virginia beach idea but Seattle deserves a team asap

ManRam
11-30-2012, 11:17 PM
Yeah, Seattle needs an NBA team first and foremost. I feel terrible for Kings fans, because they're great and loyal fans. The Maloofs are asswads.

Giannis94
11-30-2012, 11:51 PM
We saw how well it worked in Charlotte. Why not Montana or West Virginia.

ManRam
12-01-2012, 12:05 AM
We saw how well it worked in Charlotte. Why not Montana or West Virginia.

The problem with Charlotte isn't attendance...it's the team they've put on the court.

Munkeysuit
12-01-2012, 12:25 AM
Wowsers...Virginia? is there even a market out that way? what about Seattle? or maybe even Kentucky?

Baller1
12-01-2012, 12:46 AM
Sucks man.

:(

ColtsSpursTerps
12-01-2012, 12:55 AM
**** yeah virginia!!!

Thunder-Sooner
12-01-2012, 01:03 AM
how would this work conference wise with a western team moving to the east?

BKLYNpigeon
12-01-2012, 01:10 AM
Why Not?

The late SuperSonics are Thriving in OKC.

Infamous916
12-01-2012, 01:24 AM
The Maloof's have held this team hostage for far too long. NBA need's to intervene & force these clowns to sell this team, if the kings relocate in the process then so be it.

gatkins11
12-01-2012, 02:09 AM
I'm from Virginia (not VA Beach area), but I just don't see how this is going to work. Seattle is a much better option.

tapajafri
12-01-2012, 02:38 AM
they said there are still plenty of obstacles this virginia thing has to get by.

tapajafri
12-01-2012, 02:43 AM
When the team is good? So that means that they are bandwagoners....and its cause California is so big.

sure.....when the team is that bad, fans will hardly show up. that's the case for any team, any city, any sport, and whatever teams you like for all sports. in fact, if most teams in the nba were as bad as the kings, there would be less fans at those games than at the kings games.

Trueblue2
12-01-2012, 05:19 AM
Why not go somewhere that'll get them more attention?

Go to Vegas.

Vegas won't work for 2 reasons: 1. Too affiliated with gambling, the league would want to distance its self from that image. 2. The people that own Vegas (casino owners) don't want an event in the city that's not being held in one of their casinos. They'd vote and lobby against it because having a team there means competition for their casinos.

TheBlackHole
12-01-2012, 10:42 AM
If they're going to the east and around virginia just put them in Baltimore.

Thunder-Sooner
12-01-2012, 03:54 PM
I would like to see Kansas get a team.