So Long Ago
Maloof greed has once again reared its ugly head or heads. For one who has followed the drama called the Sacramento Kings, its a bit of Deja Vu. Step into the wayback machine and set the dial to 2006.
Back then the citizens of Sacramento, was asked to tax themselves to pay for an Entertainment Complex featuring the Kings for nearly 650 million dollars.
The ballot measure arrived DOA. The measure was competing with the high-flying images of cigar smoking Maloof brothers millionaires.
Coupled with rumors of a family demanding much of the revenue of the taxpayer financed facility, infuriated locals and the measure went down in flames.
For those of us who regularly attend Kings games and other events at Arco, (a building the Maloofs own and operate) noticed little or updates taking place in the building . The now Power Balance Arena reportedly has the second oldest ice machine of any arena is the Us. The roof has patches of paint. It’s as if the family was saying to Sacramento , if you don’t give us a new building we will let this one rot.
Fast forward to 2012
A financing plan for an Downtown Arena was drafted, and distributed to all parties including the NBA commissnor David Stern distributed and dissected by attorneys representing the Maloofs, AED,the City and County of Sacramento and to the NBA and appeared to have the blessing of all parties.
At the eleventh hour, the Maloofs decided they didn’t like the terms, after hours of intense discussion the Maloof’s now say they did not agree to pay pre-development cost, and they now they want more input into design, more control of arena operations, more parking revenue, which would most certainly push the opening pass the 2015.
The Maloofs wanting to stay in Sacramento?
This time last year the Board of Governors slapped the Maloof’s down, and told them they had to stay in Sacratomatoville. The NBA also recognized by forcing them to stay here they would need a PR makeover, selling tickets to a broken-hearted fan base would be difficult.
Emotions aside, the Sacramento Kings is a for profit business. With Seattle in play, they could return to Anaheim with a different swag, demanding a fresh piece of paper The problem for the family is Sacramento, if they can stall the project, which delays construction, they are free and clear to move. The revenue potential in either city is greater than Sacramento. (Especially in Seattle with Several Fortune 500 companies in the region)
Today, the e camels back is broken, no amount of Stern PR can correct this actions of the Maloof’s. The B word (Betrayal) is forever associated with the family, from city hall to the state capitol and beyond.
The B word was bantered about last year in comment columns across the country About the small market team that holds two of the NBA’s all time sell out records, the city that supported a franchise through bad times.
Sacramento is angry and Betrayed, the Maloof’s are dead here. And while they may have embarrassed Commissioner Stern and the NBA, with more troubled teams than professional baseball, football and hockey combined they have not violated any rules.
Could the NBA force them to sell the team? yes….. even though it isn’t likely. The Maloof’s could take them to court in an anti trust suit. Back in the 80′s, the NFL owners voted against a move by the Oakland Raiders to Los Angeles. The Raiders and the Los Angeles Memorial Coliseum successfully sued the NFL and moved to LA.
Much more to come………..