broncosnhornets
Member
It looks like the kings won't be here for long. How do you see their departure affecting Sac State's Basketball program?
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The only team in town?
- Thread starter broncosnhornets
- Start date
Green Laser
Active member
broncosnhornets said:
I have no strong feelings either way on the Kings situation. I have a feeling that we will more likely see the Maloofs pressured by the NBA to sell. It's clear they don't have the resources to run the team, everything they have touched has gone south. The NBA and Sacramento has had enough of these three posing punks.
From that comment it sounds like Stern is more than willing to wash his hands of this issue one way or another and let the chips fall where they may. I don’t know how the NBA can force the Maloofs to sell but right now that sounds like it is the only way the Kings stay in Sac. I believe Anaheim (or whoever is representing them) has said they will cover the costs associated with the move.
IMO this is good and bad news for the Hornets. The good is this makes the Hornets the only hoops option in Sac. However I don’t expect droves of casual hoops fans to show up and support the Hornets just because they are the only show in town. Even if these fans did show up, the Nest is in no shape to provide them with adequate seating. The bad news is that with the failure to get the events center up and now with the new downtown arena plans dead in the water, the Hornets will not have any other options outside of the Nest. A tax payer subsidized downtown arena would have benefited the entire region, including Sac State. :twocents:
http://sports.yahoo.com/news/arena-...8--nba.html;_ylt=Ar1mwtK68flrttYJuGO7we68vLYF
http://sports.yahoo.com/blogs/nba-b...508241.html;_ylt=AsygpY_VCGD9Rvo5yqAs3ay8vLYF
superhornet
Active member
SDHornet said:
You are quite correct about the Nest, SD. Not only is the seating whacked, a trip to the head is worse, and there is only one concession stand, which tends to make for long lines, even for the few that bother to show up now.
I wouldn't say that there are NO options for the Hornets outside of the Nest. I WOULD say that there are very few PALATABLE ideas. The Auditorium patently sucks for hoops, and if we ever get a TV game at Power Balance with the Kings gone, it'll look a whole lot like Big West Conference Tournament games at The Pond in Anaheim without Utah State: nearly empty. At least a good downtown arena would have given Sac State the same option that UOP has in terms of attracting a big-name home opponent: namely, the choice between fitting more fans into the larger arena or bringing them back to the Nest so that all the fans are right on top of the opponents to heckle them. I think we'd all pick option A there. But at least the presence of a choice would be a good thing.
Sounds like the Kings are all but gone:
I assume this means the Maloofs will default on their Arco/Power Balance/Sleep Train Arena debt they have with the City thereby handing ownership of the arena over to the City. This could allow the Hornets to rent out Arco Arena at bottom dollar. Thoughts?
http://sports.yahoo.com/news/maloof...-relocate-franchise-to-seattle-190254566.html
I assume this means the Maloofs will default on their Arco/Power Balance/Sleep Train Arena debt they have with the City thereby handing ownership of the arena over to the City. This could allow the Hornets to rent out Arco Arena at bottom dollar. Thoughts?
SDHornet said:
How much bottom dollar is no dollar? The Nest is free and only 420 showed up to watch the SUU game. Why pay any money to rent an arena where at most, 1,000 will show up?
mattman_121
Active member
The Maloofs just sold the Kings for 500 million, that is insane. Forbes had this team valued at 300 million.
I agree but we wouldn’t need (or want) to rent Arco for BSC games and or every home game. However Arco can be used to leverage home and homes with OOC regional opponents (for example a Nevada or Fresno) who want to get in front of Sac area recruits. I’m envisioning about 3-5 games assuming known programs could be lined up. Playing in Arco could also garner some leverage on the recruiting trail and open the door for some regional televised games.Green Cookie Monster said:
superhornet
Active member
Channel 13 is reporting that the Maloofs have rejected Seattle's offer.
http://www.sactownroyalty.com/2013/1/9/3856678/report-maloofs-rejected-seattle-offer
http://www.sactownroyalty.com/2013/1/9/3856678/report-maloofs-rejected-seattle-offer
SJHornet
Active member
As most have read, sources are saying the idiot children have come to a deal to sell the Kings to a Seattle group for around $500 million. They may finally be on the way out of Sacramneto. I believe this is only good for Hornet athletics. Hornet athletics become the biggest game in town. The city is primed to become the new owners of Sleep Train Arena. If the city is a half-way decent owner and operator, rental prices will start to become reasonable, and I think we need to try and come up with a deal to either play a few high profile teams (we would actually be able to draw a few at the arena) and a few conference games at the arena, or create a pre-season (pre conference play) tournament at Sleep Train. Playing at Sleep Train will help with recruiting. Higher profile athletes will appreciate being able to be showcased and play recognizable opponents at a major venue. I'm not advocating moving the team to Sleep Train full-time or abandoning the Gym or efforts to build a better on-campus facility.
The other plus side to the Kings leaving is I can now watch Warrior games on TV again. I hate that they've been blacked out! But that's just a Bay Area kid's opinion
The other plus side to the Kings leaving is I can now watch Warrior games on TV again. I hate that they've been blacked out! But that's just a Bay Area kid's opinion
Yes. Definitely a Bay Area perspective. The only thing Hornet athletics need to do is win games and they will be big. Losing our only professional sports team does not translate into instant love for Sac State, no matter how you slice it.
As far as the arena, the city of Sac would get the arena only if the Maloofs default on their loan to the city. If that were to happen, it would be more economical for the city to demolish the arena and sell the land than it would be to try to maintain the arena with no major tenant. As a result, that 5 year plan that Sac State has would have to be adjusted, because there would be no larger venue for the basketball team to play at in a couple of years. Losing the Kings is bad for the city and doesn't help Sac State athletics.
As far as the arena, the city of Sac would get the arena only if the Maloofs default on their loan to the city. If that were to happen, it would be more economical for the city to demolish the arena and sell the land than it would be to try to maintain the arena with no major tenant. As a result, that 5 year plan that Sac State has would have to be adjusted, because there would be no larger venue for the basketball team to play at in a couple of years. Losing the Kings is bad for the city and doesn't help Sac State athletics.
SDHornet said:
It wouldn't be profitable for the city to operate the arena without a major anchor tenant. Plus, the city would now owe its bond holders $77 million if the Kings default on the loan. At that point, operating and maintaining an arena that is falling apart would not be in their plans. If renting to Sac State was a money maker for the arena, it would already be something that was being done. Unfortunately, if the Kings go, I would suspect the arena would get demolished and the land sold to help the city recoup money they are losing on the defaulted loan.
SJHornet
Active member
Hornet25 said:
The Kings' exit doesn't equal instant Hornet fans, or simply makes us one of the biggest shows in town. With one less competitor for the city's attention, the Hornets can gain some footing and sell itself to a sports hungry community. If the Hornets can nab some big name competition, eyes will start to turn to the program, and some long-term fans could be made while Sac is idle in the major pro sports arena. Being a division one sports team in baren sports market is a huge boost to a school is looking to boost its athletic long term vision.
As for Sleep Train Arena, why would the city demolish it? The arena is the Sacramento metro region's only major indoor entertainment facility. When the Maloofs sell, so long as to an owner who intends to bail, they will surely use the arena to pay off a portion of the mounting debt they owe. They've already basically eluded to this in the past. The arena may be aging and out-of-date, but as it is the only arena in the region, it's extremely valuable. Every arena tour, monster truck derby, evangelical revival and traveling sporting tournament will bring in money to the city and more than make up for the upkeep. Cities all across the country and world build, own and operate arenas much like Sleep Train for much the same reason. If the city absolutely doesn't want to take on the arena, they will sell it, and I can imagine there will be plenty of bidders. Until a new arena complex is built, Sleep Train will remain standing. And as long as its standing without an NBA franchise, Sac State should utilize the opportunity.
SJHornet said:
I'll say it this way. AEG is the second largest sports and entertainment company in the world. They can dictate what music acts and shows that go through Sacramento. They do this with the Sprint Center in KC for example, which is one of the busiest venues in the country. They were on board to invest in building a new arena with the city and the Kings as an anchor tenant. When the Kings backed out, AEG declined to go into business with just the city with no Kings. The profit to be made wasn't there without the Kings.
If AEG doesn't see a way to make the profit without a major anchor tenant, how can Sac do it on their own? Arco is so outdated, that many of the major acts bypass it because the acoustics are bad, stage area too small and not enough docking areas to bring their acts and perform efficiently and effectively. So managing Arco is a no go as well.
SJHornet
Active member
Please don't give AEG that much credit. They are a very big event and entertainment company, but by no means do they hold any kind of monopoly or dictate the entertainment world. Plenary of acts and tours operate through non-AEG entities, and even AEG works outside of the world it operates. And as for venues, AEG isn't the only, or by any means best, orginization to draw speculation from. AEG hates owning buildings, and much prefers either running operations or simply the events staged. AEG was interested in Sac's entertainment complex, but were never really invested in the effort.
Sacramento, like thousands of municipalities, can operate the arena as a public entity, and draw plenty of revenue and acts. They will most likely hire an outside company to operate the facility, unless they decide to operate it themselves. I also wouldn't be surprised if Sacramento State took an interest in the facility, even in a minor or partnership role. Should the city take the arena on, an anchor tenant will not be a necessity, but they will initially look for regular tenants, and Sac State could get a sweetheart deal for a select number of annual games, allowing the potential to schedule schools like Nevada, Fresno or Cal. Unlike the Maloofs who were looking to maximize profits, Sac would probably be more looking to book the place on a regular basis. Big concerts and touring events will be the money makers, Sac State games and such simply help pay the bills and keep the place busy.
Sorry if it sounds like I'm attacking you, but I hate AEG with a passion. They are a irresponsible, heartless orginization that have no care, concern or interest in the municipalities they work with and their audiences/customers.
Sacramento, like thousands of municipalities, can operate the arena as a public entity, and draw plenty of revenue and acts. They will most likely hire an outside company to operate the facility, unless they decide to operate it themselves. I also wouldn't be surprised if Sacramento State took an interest in the facility, even in a minor or partnership role. Should the city take the arena on, an anchor tenant will not be a necessity, but they will initially look for regular tenants, and Sac State could get a sweetheart deal for a select number of annual games, allowing the potential to schedule schools like Nevada, Fresno or Cal. Unlike the Maloofs who were looking to maximize profits, Sac would probably be more looking to book the place on a regular basis. Big concerts and touring events will be the money makers, Sac State games and such simply help pay the bills and keep the place busy.
Sorry if it sounds like I'm attacking you, but I hate AEG with a passion. They are a irresponsible, heartless orginization that have no care, concern or interest in the municipalities they work with and their audiences/customers.
SJHornet
Active member
The Kings won't default on the loan. If a deal is reached, the city will probably have the NBA garuntee the city is re-paid before a relocation is allowed. This was one of the main points of contention when the Kings tried to move to Anaheim. Johnson appealed to Stern to halt the move until the city's debt was repaid, and it appeared the deal was going to be hung up until the situation was resolved. They could perceivably be shafted initially, but if the Seattle group purchases the Kings, they take on all its assets and obligations. If the Arena somehow stays with the Maloofs, they still remain responsible for the debt, and must repay it. Otherwise, Sac sues and the Maloofs are in danger of loosing whatever assets they still hold. When the Virginia Beach deal was being put together, there was an $80 million clause included for "relocation expenses", aka pay off the outstanding debt holding up a potential move. The city will be paid and given the arena as part of the payment. The fight will be over how much its worth. I can't remember exact numbers, so forgive me, but I believe the Maloofs were trying to claim the arena was worth about $50 million, but the city refuted the claim and appraised it closer to $20-25 million.
No worries. A healthy debate. I by no means intend to give an opinion about AEG and its ethical practices. I simply mean to say as a succsesful business, they know when to get into a deal or stay away. The arena would not be a free gift. It comes with $77 mil in debt and major upkeep/renovation needs. Chunks of concrete are falling off and chairs are breaking. Roof is leaking. The city doesn't have the money to pay its own workers, let alone fix an arena that the NBA, NCAA and major entertainment acts have said are unacceptable. If the city wants to own an arena, it would be more cost effective to go into business with Sac State and build an 8,000-10,000 seat arena that can be expanded at a later time. Arco is dead.
BuckeyeHornetFan
Active member
A bit of clarification;
If the Kings leave town, the building formerly known as ARCO will likely be demolished. The city doesn't own the building or the property it rests upon, the Maloofs family does .. which is why they have no lease with the city.
If the Maloof's relocate the team or sell it to a 3rd party that relocates it, the outstanding 75M in city bonds must be paid immediately. Once paid, the arena is no longer collateral and the Maloof family can do whatever they want with the property. Since the outdated arena would no longer be any use to them and would cost too much money to maintain without an actor tenant, they'd likely have it demolished and sell the property for future development.
In short .. no Kings, no arena.
If the Kings leave town, the building formerly known as ARCO will likely be demolished. The city doesn't own the building or the property it rests upon, the Maloofs family does .. which is why they have no lease with the city.
If the Maloof's relocate the team or sell it to a 3rd party that relocates it, the outstanding 75M in city bonds must be paid immediately. Once paid, the arena is no longer collateral and the Maloof family can do whatever they want with the property. Since the outdated arena would no longer be any use to them and would cost too much money to maintain without an actor tenant, they'd likely have it demolished and sell the property for future development.
In short .. no Kings, no arena.
Green Laser
Active member
Sleep Train's Dale Carlsen is a Sac State alum. Maybe he would be interested in helping build a on campus arena once the Kings are gone and the arena torn down.
