KFBK's Rob McAllister reports that the Maloofs have talked in some detail with Anaheim Ducks owner Henry Samueli about a proposal to relocate the Sacramento Kings to Samueli's Honda Center in Anaheim. According to McAllister, Samueli offered the Maloofs a $100 million loan to help cover relocation and territorial fees and help with the Maloofs' debt. KFBK's report came to my attention via Jon Santiago of SLAM.
There's no word on whether the Maloofs were receptive to the plan, or what sort of interest (if any) Samueli would charge. His angle is that he wants an NBA tenant for the Honda Center, so one would assume he'd present something like this.
But $100 million is a fraction of the costs associated with a potential Kings relocation to Anaheim. The NBA's relocation fee is $30 million itself (see update), and territorial rights due to the Lakers and Clippers will be tens of millions of dollars apiece. The Maloofs also owe the city of Sacramento $68 million; the city's collateral is
ARCO Arena Power Balance Pavilion, the surrounding land and a $25 million stake in the franchise. The Kings could move and continue to pay off the loan, but on top of lease payments to Samueli, it's another expense to consider.
If the Maloofs view relocation as a short-term cash fix, this deal is not the one for them. That isn't to say Samueli couldn't improve his offer or another city wouldn't come in with something the Maloofs can't pass up. But in no way will a $100 million loan solve all the Maloofs' and Kings' problems. Mix in that Samueli's collateral would be a stake in the team, and you can see why I'm skeptical this deal has the Kings on skates out of town.
UPDATE: I've been corrected -- the NBA's relocation fee is $30 million, not $150 million as previously stated. All apologies. Deal still isn't great for the Maloofs. Good, but not great.