FanPost

Skipping Town


I would have never thougth it possible, but i actually think the Maloofs are going to skip town without paying the loan.  The Bee just posted a story that the city has just hired outside counsel (bond counsel) to advise the city on the potential fallout if the Kings default.  As you may know, a city can NOT stiff purchasers of its bonds.  Under the loan, if the Kings default, the team reclaims "ownership" of the Arena and land surrouding it (technically the city already owns it, but would transfer to Maloof's if they repay the loan) PLUS a $25 million interest in the Kings.  So who might have $25 million lying around to buy out the city's interest?  The a-hole trying to steal our team, (Samueli) that's who.

So the Maloof's get a $50M loan from Samueli (through the city of anaheim using its credit) to buy off the League and potentially the Lakers/Clips; stiff the city by giving it a worthless building/property in a crappy real estate economy, and Samueli gets his interest in the team by paying the city the $25M, which it will have to take because it has no other money to repay the bonds! 

While Rome is burning, our city leaders allow the intereim city manager to quit, our Mayor and his PR hack to mouth off like school-children... and they JUST NOW decide maybe to hire some lawyers who know about this shit! 

If David Stern signs off on the above, then i am going back to believing he rigged the Lottery (the Ewing lottery), rigged Game 6, and orchestrated this whole drama because God knows the Magoofs are too stupid to have cooked this up themselves. 

(This is a FanPost from a member of the Sactown Royalty community. The views expressed come from the member, and not Sactown Royalty staff.)

SB Nation Featured Video
X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join Sactown Royalty

You must be a member of Sactown Royalty to participate.

We have our own Community Guidelines at Sactown Royalty. You should read them.

Join Sactown Royalty

You must be a member of Sactown Royalty to participate.

We have our own Community Guidelines at Sactown Royalty. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9347_tracker