Stern: Concessions from Kings mean larger contribution from AEG

just read it for yourselves

3 months ago ElRonToro 13 comments 0 recs |

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I am not sure what to make of this.

Is this good, bad or undecided?

by ridingthebench on Feb 21, 2012 11:36 PM PST reply actions

And I dont understand when he says...

“whatever money AEG puts in is because of give-backs by the team … so we see that as a team contribution”

by ridingthebench on Feb 21, 2012 11:38 PM PST up reply actions

Maybe

because the Kings aren’t going to be getting getting profits from other events at the arena, he thinks that’s a team contribution (less profits).

by chenp22 on Feb 22, 2012 2:15 AM PST up reply actions

It really is just bringing up what we knew

basically the 2 negotiate almost as 1. If AEG gets all the parking rights for game nights they may contribute 10 million more , the Maloofs would pay 10 million less. If the Maloofs conceed concessions $ the same thing would happen.
This tells me the Maloofs don’t have much cash on hand and would take a smaller revenue stream to compensate for the less cash up front.
If the can’t afford anything its #HereWeBurkle

35 and 31. I'm calling it now. Reke and Cousins 1-2 in most improved award both All-stars. Jimmer leads rookies in scoring, passing and Ole's. Make 2nd round of playoffs and Salmons is not here by seasons end.

by ElRonToro on Feb 21, 2012 11:54 PM PST reply actions 1 recs

sorry bench, reply fail to you

by ElRonToro on Feb 21, 2012 11:54 PM PST up reply actions

The total of the 2 has to be around 135 million

25 of which is Maloof property in Natomas. So the other 110 was suppose to be 50 AEG and 60 Maloofs ,maybe it ends up 75 AEG and 35 Maloofs.

by ElRonToro on Feb 21, 2012 11:56 PM PST up reply actions

ElRonToro

Are you on Twitter?

If so can you DM me?

@SacTownMike0476

by SacTownMike on Feb 22, 2012 12:00 AM PST reply actions

No, sorry

profile has an email

by ElRonToro on Feb 22, 2012 8:49 AM PST up reply actions

I am a bit wary of Stern's comment

It almost sounds like he means that the Maloof “85 million contribution” that we are expecting could be covered by 50 million AEG and the remaining 35 million Maloof, for the fact that the “Maloofs brought AEG into this.” Hopefully that isn’t the case…

by omikron on Feb 22, 2012 12:11 AM PST reply actions

and by all accounts...

The Maloofs did not bring AEG into this. They stepped aside as arena operator, and AEG came in through the efforts of the City or Burkle (apparently Burkle is an investor in AEG).

Follow me on Twitter

by kwlarson on Feb 22, 2012 7:27 AM PST up reply actions

I would not worry...

about Stern’s comments. This arena deal is closer than it has ever been.

We still need your support at city hall on Feb 28.

by SacTownMike on Feb 22, 2012 12:25 AM PST reply actions

Just early positioning by Stern...

The only way what Stern is implying could be 100% true is in a situation like the Maloofs have now where they own and operate the building completely. The Maloofs are ALREADY reported to be interested in a tenants deal, not an owner/operator one like at PBP.

This is apples and oranges Stern. AEG’s contribution is separate and the Maloofs couldn’t have catalyzed anything.

I was just thinking the other day back to when the Maloof’s made “their” decision to stay in Sacramento for one more year. The announcement was that Joe and Gavin were going to focus on the product and that George was going to be the family liason for all things related to the new ESC.

Where the fuck is George?!?!? Oh that’s right, he’s still in Anaheim.

Yeah I’ll bet the Maloofs really catalyzed AEG to help them stay here. Sure…

I’m with Omikron. As close as everything is to fruition I don’t see these comments as a positive. I see them as early signs of a standoff. Stern always operates on gaining leverage on the other parties hes negotiating with far in advance. This is the beginning of it.

The only wishful-thinking-light-at-end-of-tunnel that you could pull from this would be that Stern is positioning early to where the NBA and Maloofs cannot afford this upcoming term sheet and that the only way things can get done in Sacramento is with an new owner of the Franchise. wink wink burkle burkle

Burklebomb Admirer since 2011

by Nutterball on Feb 22, 2012 5:59 AM PST reply actions

Negotiating tactics

The Maloofs situation is not really Stern’s concern. He’s doing this to maximize the profit of the team no matter who ends up owning this. The team is an NBA asset in his view. The Maloofs are just temporary like all the other owners.

The wording is curious about AEG, but they can solve it by any other revenue stream give and takes. The key is knowing what the gap is between the parties. Larger is worse obviously. But if it was very large, they wouldn’t be talking like they are right now.

So be a little worried.

by Jb_Kings on Feb 23, 2012 12:07 PM PST up reply actions