News for the week of 1/10/11

I had a pass for CES but couldn’t go at the last moment. While I’m lamenting that, here are some truly newsworthy items.

  • The Maloofs are not only having trouble keeping the Kings afloat, they’re having trouble keeping the Palms afloat, at least according to Bloomberg. Two private equity firms are looking to buy controlling stake in the celebrilicious casino, with the possibility that the Maloofs would continue to operate the Palms, albeit with a reduced stake. No wonder there’s no talk of the Maloofs putting up money for a Sacramento arena. The family sold a $100 million beer distribution business in New Mexico last year to bring in some cash. It’s interesting that although the Kings have been discussed as either a prime sale candidate or worse a contraction target, there are few indicators that the Maloofs are interested in cashing out the franchise. They must really love their basketball team.
  • If fans are truly interested in stripping away baseball’s antitrust exemption, they might want to take a page from a new Washington lobbying group called Playoff PAC. The group, started in 2009, has stated its goal to eliminate the controversial BCS system and replace it with a true college football playoff tournament. Playoff PAC’s weapon of choice is to try to push anyone who will listen into investigating possible tax violations by the organizations which control three of the four member bowls of the BCS. While Playoff PAC does not have a ton of cash, but its limited efforts may actually be bearing fruit.
  • The downtown LA football stadium plan is finding takers. Farmers Insurance may become the naming rights sponsor, to the tune of 30 years, $20 million a year.
  • A draft race course route for the 2013 America’s Cup is up, and it’s quite cool.
  • Governor Brown will release his budget plans later this morning, and I will be paying close attention (as should you).

Will we hear something about KTRB this week? I sure hope so.

One thought on “News for the week of 1/10/11

  1. Wow, sorry for Sac fans. The arena search there seems like it’s DOA. And the Maloofs are going to lose the team eventually, it’s only a matter of time with how dire their financial situation is being reported. Question may be, where are they going to end up. San Jose, Anaheim, San Francisco, Kentucky, San Antonio, or KC…

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.