Bidding war is ON in Sactown

I had no idea the Sacramento Kings cleaned up this well. A report by FOX40’s Jim “Scoopmeister” Crandell indicates that there is now a third group interested in the Kings and a second arena deal in the works.

WHA?!?!?!

The third group, which is publicly anonymous for now but known to the Maloofs and NBA brass, is headed by a Nevada businessman. Their intent is to build an arena in Sacramento. They claim they will match any offer by Henry Samueli. Their arena plans involve a 25,000-seat, “community funded, community owned” arena. That’s right, 25,000 seats. The facility would include a 5,000-seat amphitheater and an indoor aquatic center. Obviously there are enough holes to drive a fleet of trucks through at this point, so I’m more than a little skeptical. Regardless, the offer has been submitted so it must have passed some basic scrutiny.

This comes at the same time Samueli and Anaheim have bumped up their offer to the Maloof brothers. The offer now stands as follows:

  • $70 million upgrades
  • 6-year TV deal, at least $24 million per year on multiple networks
  • $75 million loan

The loan and TV parts are the major changes. Is that enough?

Not to be forgotten, Ron Burkle remains in the picture and the ICON group has its arena plans (not related to the aforementioned plan) coming later next month.

The Maloofs are on the fence. They’ll have a tense weekend to make their decision, unless David Stern gives them yet another extension past the Monday deadline. Wouldn’t it be something if, years later, we found out that this was all a ruse to get a new arena in Sacramento for the Kings?

12 thoughts on “Bidding war is ON in Sactown

  1. The Maloofs are not remotely savvy enough to concoct a ruse. Their public relations skills are several notches below inadequate. The amount of animus they have built in the last 6 months will prevent them from remaining in Sac beyond the year the NBA is going to make them stay.

    The fact that there are multiple plans now in Sacramento? I’d be worried that any of them get funded, let alone built, unless Johnson has a plan he knows will work,

  2. Will this 25,000-seat arena have 75 luxury suites and several thousand club seats? I haven’t watched the video, but “community-funded” sure sounds like “on the cheap.” Isn’t that the problem they already have? A cut-rate, cheaply built arena that is below NBA standards?

  3. Community funded? Is that the new euphemism for publicly financed? The news reporters seemed to imply that it would be “)” tax dollars, but I am struggling to figure out what “community funded” means if not paid for by the community through tax money.

  4. )=0… Zero tax dollars.

  5. Maybe community funded means a fundraising campaign? Buy a candybar and save the Kings! 😉

  6. Wow….You would think these people would have stepped up days ago considering it has not been a secret the Kings needed a new arena.

    25k in seats?? That shows you right there this is a farce all the way. 25k in seats is far too many people and as we all know it is not about the cheap seats anymore but the premium seating….No mention of that anywhere.

    That plus the term “community funded”?? WTF is that?

    I am sure the Maloofs are having a good laugh over this one. Samueli bumped his offer up is being upfront and public about it.

    This “Nevada businessman” if he was for real would be stepping up in the light and being more upfront. Why hide?? Especially if you are for real.

  7. Sid… two levels of club seating.

  8. I don’t understand how anyone other than people in Orange County could want an outcome other than the Kings staying in Sacramento.

  9. @Jeepers. Good point. The Lakers are so established and popular down there that few people will even notice a third team.

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