Let me first start this post off with the statement there are a LOT of people who are smarter than me and more knowledgeable about this situation than I am who haven't mentioned this. So this whole post may be absolutely worthless.
There, now that I have really convinced you to stick around through my armchair stream of thought, this post is based on two important premises.
- Bob Cook's 7% minority share up auction as reported in October 2012.
- All Kings minority owners get "first right of refusal" when team is for sale. Meaning minority owners get inherent right to match. No BOG, no lawsuit. It is built in to Kings shares.
But what about Ellison, Burkle or Mastrov? Isn't this a way around the politics of the BOG? This could be absolutely huge news for the Kings, but why don't we have any info on Cook's shares? When is that scheduled to take place?
I know that would be a lot for a single investor to take on--first 7% of $525 million, which comes to $36.75 mill. Then another $330 million by himself to match--which would mean a total of $365+ million and a total of 70% ownership in the Kings. Of course the plan could be that the theoretical investor would purchase the total package then break up some of those shares to other investors if he doesn't want the full 70% ownership in the Kings.
Is this too much to hope on?