Sonics point guard Gary Payton, "The Glove," heads the list of finalists named for selection to the Naismith Memorial Basketball Hall of Fame. The electees will be announced during the weekend of the NCAA Final Four.
"The Glove" is widely considered one of the best defensive players in NBA history and led the Sonics to The Finals in 1996, losing to Michael Jordan's Bulls. AFter being down 3-0 the Sonics, led by Payton, clsoed the gap to 3-2 before finally losing game 6, and the series.
The Glove is the only point guard tio ever win the NBA's Defensive Player of the Year Award, grabbing that honor in 1996, en route to their title title run that season. Payton was a nine-time all-star in his 17-year career. For his career, Payton averaged 16.3 ppg and 6.7 assists. He also led the league in trash talking, a record that may stand for a long time. At least he backed it up on the court.
one of the most popular players to ever wear a Sonics uniform, Payton was unceremoniously traded to Milwaukee when he clashed with owner Howard Schultz. The move was widely panned in Seattle. Schultz went on to sell the team to Clay Bennett who blew uop the team, alienated the Seattle fanbase, and ultimately moved it to Oklahoma City. Thanks, Schultz.
Look for Payton's jersey yo be retired in Seattle in the first season of the Sonics return.
Payton will be wearing the green and gold in the Hall of Fame.
Saturday, February 16, 2013
Tuesday, February 12, 2013
Maloofs Detail Kings Sale to Bankruptcy Group
In yet another delay that will not affect the sale, but just drag it out, the Maloofs have handed over documentation of the King's sale to the bankruptcy trustee who is tasked with maximizing the 7% stake in the team.
Here's the deal; The Maloofs agreed to sell their 65% stake to the Hansen/Ballmer group, leaving 35% in the hands of several minority owners. By minority owners, I don't mean ethnic minority. Got it? The 7% in question belongs to Bob Cook. Bob declared bankruptcy, cause that's what rich folks do. The trustee charged with liquidating this asset, David Flemmer, is trying to make a claim that the minority owners of the team have a 'right to match' any offer for the team. Naturally, this is where the lawyer, Don Fitzgerald gets involved, drags this out for as long as possible and, voila, has a ton of billable hours to show his boss. Isn't America fun?
The claim is that this would potentially position the minority owners to match Hansen/Ballmer's offer for the team, somehow they'll be able to come up with the $340 million and save the team for the SacTown fans. It's cute, and makes nice press for the SacBee, but is not the reality of the situation. They've had a chance to buy out the Maloofs for years and yet none have stepped forward. Suggesting now they're gonna, and go up against the wealthiest potential ownership group in sports, is laughable. Ballmer and Hansen have over $20 billion in resources. That's billion with a b.
This is a hollow attempt by Flemmer and Fitzgerald to artificially inflate the value of the 7% by potentially creating a bidding war and, realistically, an attempt to coerce the Hansen/Ballmer group to overpay for that 7%. They may just do it, but they don't have to. They already have a deal for the majority stake of the team and this won't change anything.
What's tragic about this move is the hope it stirs for Kings fans. The SacBee and it's ilk will ride this story into the ground in an attempt to drive readers to their site and exploit the ad-sales potential while Flemmer/Fitzgerald exploit the press coverage to monetize thier situation. It's smoke and mirrors. The Kings have been sold, Stern will approve with a smile, the BOG will follow in step, Clay Bennett (who thugged the Sonics, is the most hated man in Seattle and is now, brazenly, chairman of the relocation committee) will rubber stamp his approval and the Sonics will be filling Key Arena next season. Enough with the silly stalling tactics by the lawyers and Kevin Johnson.
Now, what to do about DeMarcus Cousins...
Here's the deal; The Maloofs agreed to sell their 65% stake to the Hansen/Ballmer group, leaving 35% in the hands of several minority owners. By minority owners, I don't mean ethnic minority. Got it? The 7% in question belongs to Bob Cook. Bob declared bankruptcy, cause that's what rich folks do. The trustee charged with liquidating this asset, David Flemmer, is trying to make a claim that the minority owners of the team have a 'right to match' any offer for the team. Naturally, this is where the lawyer, Don Fitzgerald gets involved, drags this out for as long as possible and, voila, has a ton of billable hours to show his boss. Isn't America fun?
The claim is that this would potentially position the minority owners to match Hansen/Ballmer's offer for the team, somehow they'll be able to come up with the $340 million and save the team for the SacTown fans. It's cute, and makes nice press for the SacBee, but is not the reality of the situation. They've had a chance to buy out the Maloofs for years and yet none have stepped forward. Suggesting now they're gonna, and go up against the wealthiest potential ownership group in sports, is laughable. Ballmer and Hansen have over $20 billion in resources. That's billion with a b.
This is a hollow attempt by Flemmer and Fitzgerald to artificially inflate the value of the 7% by potentially creating a bidding war and, realistically, an attempt to coerce the Hansen/Ballmer group to overpay for that 7%. They may just do it, but they don't have to. They already have a deal for the majority stake of the team and this won't change anything.
What's tragic about this move is the hope it stirs for Kings fans. The SacBee and it's ilk will ride this story into the ground in an attempt to drive readers to their site and exploit the ad-sales potential while Flemmer/Fitzgerald exploit the press coverage to monetize thier situation. It's smoke and mirrors. The Kings have been sold, Stern will approve with a smile, the BOG will follow in step, Clay Bennett (who thugged the Sonics, is the most hated man in Seattle and is now, brazenly, chairman of the relocation committee) will rubber stamp his approval and the Sonics will be filling Key Arena next season. Enough with the silly stalling tactics by the lawyers and Kevin Johnson.
Now, what to do about DeMarcus Cousins...
Wednesday, February 6, 2013
Hansen Group Files For Relocation - Kings Closer to Going to Seattle
One step closer to the return of the Supersonics in Seattle. As much as Sacramento Mayor Kevin Johnson likes to have press conferences claiming to have 'buyers' lined up for the Kings, it just keeps getting clearer that it's a smoke and mirrors routine. The Hansen/Ballmer group have taken the next step in the process and there is nothing KJ can do about it. It's too little, too late, and yes, it's a shame for Kings fans. Welcome to the NBA; now say good bye.
According to the AP, NBA Commissioner David Stern said Wednesday night that the group that has reached agreement to purchase the Sacramento Kings has formally filed to relocate the franchise to Seattle.
Stern spoke in Minneapolis before the Timberwolves hosted San Antonio. He called the Seattle group, led by Chris Hansen and Steve Ballmer, "very strong," and said the appropriate committees have been convened to look over the proposed sale of the Kings and the prospective move to Seattle.
"We have had submitted a signed agreement to have the team sold to a very strong group from Seattle," Stern said.
The deadline for teams to file for relocation is March 1. It's been expected that the Hansen/Ballmer group would file to move the team, but Stern's comments were the first time that decision has been verified. The filing for relocation is ultimately a procedural step, but a big one in the efforts to bring professional basketball back to Seattle.
Hansen's group reached agreement with the Maloof family last month to buy 65 percent of the franchise, which is valued at $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million.
The Kings' sale price of $525 million would surpass the NBA record $450 million the Golden State Warriors sold for in 2010.
Sacramento Mayor Kevin Johnson has been making efforts to find investors with the financial means and could attempt to match the sale price, keep the Kings in Sacramento and help on the construction of a new arena in California's capital city.
Johnson said on Tuesday that he planned to attend the NBA All-Star Game in Houston and lobby anyone he could on the merits of keeping the Kings in Sacramento, but he has yet to reveal any of the large equity investors he's attempting to pull together. Johnson said Tuesday he hoped to be able to announce them next week.
Stern said Wednesday he didn't feel the situation between Seattle and Sacramento would turn into battle to see who can make the most lucrative bid.
"I don't think it's a bidding war," Stern continued. "There's a series of issues that are defined by our constitution that have to be considered. One of the things that our board is mandated to consider is the support for the team in the prior city. So there are real issues for the board to consider, about the buildings, about the likelihood they will be built, about the support from the cities."
Two committees would typically vet both the proposed sale and the move of the franchise to Seattle, but Stern said he has combined the committees into one. The committee will report to the Board of Governors, which is expected to vote on both the sale and the proposed move at its meeting in mid-April.
The sale of the franchise requires just a majority approval of the Board of Governors. The relocation of the franchise would require a three-fourths majority.
"So I did the sensible thing, I combined the committees and said, `You guys figure it out.' We'll see how that works," Stern said.
Thursday, January 24, 2013
Sonics in Seattle in 2013 - Closer to Reality.
The latest news out of Sacramento is the alleged emergence of their 'whale' who is going to ride (or swim) into town and rescue the Kings from the dastardly Hansen/Ballmer group who's intent is to take them to Seattle.
Apparently Ron Burkle is leading the charge, although, as is consistant with Kevin Johnson's tactics, there has been zero confirmation from Burkle about any interest in this. News reports continue to 'leak' out of Sacramento, conveniently feeding hope to the local fans and media. Reading between the lines, it's clear this is a Hail Mary, a half-court desperation shot by Johnson to minimize the political damage he's going to suffer when the Kings leave town on his watch. It's understandable. It's not even his fault. However, it's too late. Now this is merely face-saving stunt. Even if he could snare his whale, there still is no arena deal in place.
Kevin, you're down by 18 with 30 seconds to go. Is victory possible? Yes. Is it likely? Not very.
The smoking gun in all of this is the $30 million non-refundable deposit Hansen/Ballmer have agreed to. Make no mistake - these guys are smart and savvy and have the best legal teams in the world (arguably, anyway) at their disposal. Hansen is an investment wiz. These guys aren't gambling $30 million without assurances of a return. That money is likely a guarantee that the Maloofs will not negotiate or sell to any other parties, which makes it the smoking gun that this is probably already a done deal, sans some basic formalities. It's unlikely anyone can match the financial resources Hanson and Ballmer (who's worth a reported 17 billion) have, and even if they could, the Maloofs are not obligated to sell to them. That's what $30 million ensures.
As for the approval process, that too is as good as done. Stern wants this to happen, the NBA owners want this to happen, Clay Bennet HAS to move the process forward or get brutalized in the media. The Seattle market is more lucrative, the ownership group determined and hungry to field a winner, and Stern can finally erase the biggest black eye on his tenure; ushering the original Supersonics out of Seattle.
All the evidence points to a done deal in Sacramento.
If you are a fan in Sacramento, beleive me, you have all of Seattle's synmpathies. I went through this when the Sonics were thugged from us, and those were entirely different circumstances, and much more painful. Clay Bennett, now the chairman of the relocation committee (ironic, huh?) biought the team and announced many times he was keeping them in Seattle. Later, the evidence proved he was lying the whole time. Not only that, but Bennett systematicall destroyed the franchise and alienated the fan base to expedite the move. It's all documented in Sonicsgate the movie.
Hanson/Ballmer are transparent in their intent to buy and move the team
Apparently Ron Burkle is leading the charge, although, as is consistant with Kevin Johnson's tactics, there has been zero confirmation from Burkle about any interest in this. News reports continue to 'leak' out of Sacramento, conveniently feeding hope to the local fans and media. Reading between the lines, it's clear this is a Hail Mary, a half-court desperation shot by Johnson to minimize the political damage he's going to suffer when the Kings leave town on his watch. It's understandable. It's not even his fault. However, it's too late. Now this is merely face-saving stunt. Even if he could snare his whale, there still is no arena deal in place.
Kevin, you're down by 18 with 30 seconds to go. Is victory possible? Yes. Is it likely? Not very.
The smoking gun in all of this is the $30 million non-refundable deposit Hansen/Ballmer have agreed to. Make no mistake - these guys are smart and savvy and have the best legal teams in the world (arguably, anyway) at their disposal. Hansen is an investment wiz. These guys aren't gambling $30 million without assurances of a return. That money is likely a guarantee that the Maloofs will not negotiate or sell to any other parties, which makes it the smoking gun that this is probably already a done deal, sans some basic formalities. It's unlikely anyone can match the financial resources Hanson and Ballmer (who's worth a reported 17 billion) have, and even if they could, the Maloofs are not obligated to sell to them. That's what $30 million ensures.
As for the approval process, that too is as good as done. Stern wants this to happen, the NBA owners want this to happen, Clay Bennet HAS to move the process forward or get brutalized in the media. The Seattle market is more lucrative, the ownership group determined and hungry to field a winner, and Stern can finally erase the biggest black eye on his tenure; ushering the original Supersonics out of Seattle.
All the evidence points to a done deal in Sacramento.
If you are a fan in Sacramento, beleive me, you have all of Seattle's synmpathies. I went through this when the Sonics were thugged from us, and those were entirely different circumstances, and much more painful. Clay Bennett, now the chairman of the relocation committee (ironic, huh?) biought the team and announced many times he was keeping them in Seattle. Later, the evidence proved he was lying the whole time. Not only that, but Bennett systematicall destroyed the franchise and alienated the fan base to expedite the move. It's all documented in Sonicsgate the movie.
Hanson/Ballmer are transparent in their intent to buy and move the team
Tuesday, January 22, 2013
Sonics Return Now Just a Formality: ZombieSonics Celebrate by Losing to Nuggets
It's basically over in Sacramento for the Kings. It's not the fan's fault but rather the result of a perfect storm. The Maloofs tainted the franchise and ran it into the ground and alienated the local fan base on the way down. It's sad, really.
This situation ran head-on into Chris Hansen and Steve Ballmer, two Seattleites who want an NBA team back in Seattle, and have the means to make it a reality. Hansen has set up the arena deal; he and Ballmer have (over) paid for the Kings, just to ensure their sale.
They'll have the support of the NBA owners, Stern and the City of Seattle. Make no mistake, this deal is done. There are some details to be cleaned up, but it's over. Kevin Johnson's Hail Mary's are not aimed at keeping the team, they are a PR stunt from a Mayor who doesn't want the stink of the City's loss of a franchise on his watch...come election time. Any opponent will try and use that against him, as unfair as that may be. This is KJ understanding that and wringing every 'option' from the situation.
The ZombieSonics of OKC went out and celebrated this announcement on Saturday by losing in overtime to the woeful Denver Nuggets. CLearly Durant was distracted at the wonderful news and was daydreaming about his inevitable return to the Jet City and the franchise that drafted him - the Seattle SuperSonics. Yes, Kevin, Seattle will welcome you back with open arms.
This situation ran head-on into Chris Hansen and Steve Ballmer, two Seattleites who want an NBA team back in Seattle, and have the means to make it a reality. Hansen has set up the arena deal; he and Ballmer have (over) paid for the Kings, just to ensure their sale.
They'll have the support of the NBA owners, Stern and the City of Seattle. Make no mistake, this deal is done. There are some details to be cleaned up, but it's over. Kevin Johnson's Hail Mary's are not aimed at keeping the team, they are a PR stunt from a Mayor who doesn't want the stink of the City's loss of a franchise on his watch...come election time. Any opponent will try and use that against him, as unfair as that may be. This is KJ understanding that and wringing every 'option' from the situation.
The ZombieSonics of OKC went out and celebrated this announcement on Saturday by losing in overtime to the woeful Denver Nuggets. CLearly Durant was distracted at the wonderful news and was daydreaming about his inevitable return to the Jet City and the franchise that drafted him - the Seattle SuperSonics. Yes, Kevin, Seattle will welcome you back with open arms.
Friday, January 11, 2013
Rumors of a Done Deal Swirling
And in yet another development, Matt Steinmetz, an NBA analyst for the CSN Bay Area is reporting via twitter that the deal has been closed, unofficially of course.
The sale is reportedly for $525 million with the Maloofs retaining no ownership stake whatsoever - walking away with the cash and nothing else.
The sale is reportedly for $525 million with the Maloofs retaining no ownership stake whatsoever - walking away with the cash and nothing else.
Maloofs Making Desperate Cling to Power Play?
The latest news out of Sacramento is that there's been a 'snag' in the negotiations between the Hansen/Ballmer group and the Maloofs. And by 'snag' I mean total idiocy.
The rumor is that the Maloofs want to keep a small percentage of the team, which is their right to bargain for, but they want to 'have input' in how the team will be run.
Wait, what?
The Maloofs have singlehandedly run the Kings into the ground. They have alienated the Sacramanto fans by threatening to leave, signing a deal to stay and backing out of the deal at the 11th hour. Now they have a bird in hand with this potential sale. They gave up control of the Palms casino in Vegas after losing a fortune there.
In summary; they lost the Palms, ruined the Kings, alienated the entire Sactown fan base and have been completely unprofessional in all thier dealings - and they want to 'have input'?
Yeah, don't see that happening, guys.
I'd be surprised if the Hansen/Ballmer group allowed the Maloofs to retain any ownership stake in the team. They've been bad for business an I can't imagine they want that circus up in Seattle. The Hansen/Ballmer group may be willing to over pay for a team, but they aren't going to be held hostage. That won't happen. They've waited this long, they'll wait it out until the right deal is done, sensible heads prevail, or they'll move on.
It's almost imperative this deal gets done - for the sake of the closing this chapter on the Maloofs and the Kings. It's becoming a Tebow-like circus. Somewhere behind closed doors, David Stern must be gnashing his teeth. Stern ushered the SuperSonics out of Seattle and publicly regrets it - this is his golden opportunity to right that wrong as his tenure as Commish is drawing to an end.
Until the next chapter...
The rumor is that the Maloofs want to keep a small percentage of the team, which is their right to bargain for, but they want to 'have input' in how the team will be run.
Wait, what?
The Maloofs have singlehandedly run the Kings into the ground. They have alienated the Sacramanto fans by threatening to leave, signing a deal to stay and backing out of the deal at the 11th hour. Now they have a bird in hand with this potential sale. They gave up control of the Palms casino in Vegas after losing a fortune there.
In summary; they lost the Palms, ruined the Kings, alienated the entire Sactown fan base and have been completely unprofessional in all thier dealings - and they want to 'have input'?
Yeah, don't see that happening, guys.
I'd be surprised if the Hansen/Ballmer group allowed the Maloofs to retain any ownership stake in the team. They've been bad for business an I can't imagine they want that circus up in Seattle. The Hansen/Ballmer group may be willing to over pay for a team, but they aren't going to be held hostage. That won't happen. They've waited this long, they'll wait it out until the right deal is done, sensible heads prevail, or they'll move on.
It's almost imperative this deal gets done - for the sake of the closing this chapter on the Maloofs and the Kings. It's becoming a Tebow-like circus. Somewhere behind closed doors, David Stern must be gnashing his teeth. Stern ushered the SuperSonics out of Seattle and publicly regrets it - this is his golden opportunity to right that wrong as his tenure as Commish is drawing to an end.
Until the next chapter...
Subscribe to:
Posts (Atom)
Posts
