The Maloof family has agreed to sell the
Sacramento Kings to hedge fund manager Chris
Hansen and Microsoft CEO Steve Ballmer for $525
million, plus a relocation fee that will likely be well
in excess of $30 million, according to my sources
familiar with the transaction. A last ditch effort
by Sacramento‘s mayor Kevin Johnson to keep the
NBA team in the city failed because he could not
assemble a group of investors fast enough.
The $525 million price for the Kings is the second-
most ever paid for an NBA team. In 2010 Ted
Leonsis bought the 56% of the Washington Wizards
and Verizon Center he did not already own for an
enterprise value of $551 million. The most ever
paid for a basketball team without an arena was
$450 million for the Golden State Warriors shortly
after the Wizards deal.
The billionaire Ballmer and rich Hansen can simply
write a check to the Maloofs, whose casino
business and basketball team are highly leveraged.
Ballmer and Hansen will move the team to Seattle
and play in KeyArena for two seasons before
moving into a new, state-of-the-art arena that will
cost $490 million. When the relocation fee is
factored in, the final price for acquiring the Kings
will be around $600 million.
In addition, by moving to Seattle the Kings will get
a richer local television deal. Seattle’s metro area
population is 3.3 million, more than a million
people more than Sacramento.
A year ago we valued the Kings at $300 million. But
the new arena, which will be run by Ballmer and
Hansen, will add tens of millions of dollars a year
from premium seating, sponsorship and non-NBA
events that the Kings currently do not get at Sleep
Train Arena. In addition, there is the possibility of
an NHL team eventually moving into the arena,
which would add more money to the pot.
Ԝow, amazing blog layout! How long have you been blogging fߋr?
ƴou made blogging look easy. The overall look of your web sjte is excellent,
as well as the content!
Thanks for ones marvelous posting! I genuinely enjoyed reading it, you are a great author.I will be sure to bookmark your blog and may come back later in life.
I want to encourage you to ultimately continue your great job,
have a nice holiday weekend!
Je viens à l’instant de surfer sur ton super blog et je partages ta passion et j’aime beaucoup le contenu que l’on
peux y découvrir.
Quality articles is the important to interest the viewers to visit the website,
that’s what this web site is providing.
What’s up, all the time i used to check web site posts here in the early hours in the break of day, for the reason that i enjoy to gain knowledge of more and more.
It’s very easy to find out any topic on net as compared to textbooks, as I found this article at this site.
I have been exploring for a little for any high quality articles or
blog posts in this sort of area . Exploring in Yahoo I finally stumbled upon this web site.
Reading this info So i am happy to exhibit
that I’ve a very good uncanny feeling I discovered exactly what I needed. I most without a doubt will make sure to don?t fail to remember this website and provides it a look on a continuing basis.
Your means of describing all in this article is in fact pleasant, every one
can easily know it, Thanks a lot.
This blog is awesome.
You are so awesome! I don’t think I’ve truly read a single thing like this before. So good to discover somebody with some unique thoughts on this subject. Seriously.. thanks for starting this up. This web site is one thing that’s needed on the web, someone with a bit of originality!
There’s certainly a lot to find out about this subject. I like all of the points you’ve made.
Excellent site you’ve got here.. It’s hard to find high-quality writing like yours these days. I truly appreciate people like you! Take care!!
Wonderful post! We will be linking to this particularly great article on our website. Keep up the great writing.
An impressive share! I’ve just forwarded this onto a friend who was conducting a little research on this. And he actually ordered me breakfast simply because I discovered it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to discuss this topic here on your website.
My programmer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using WordPress on a number of websites for about a year and am anxious about switching to another platform. I have heard excellent things about blogengine.net. Is there a way I can import all my wordpress posts into it? Any help would be greatly appreciated!
Howdy! This post couldn’t be written any better! Going through this article reminds me of my previous roommate! He continually kept preaching about this. I’ll send this information to him. Pretty sure he will have a good read. Thanks for sharing!
Woah! I’m really digging the template/theme of this site. It’s simple, yet effective. A lot of times it’s tough to get that “perfect balance” between usability and appearance. I must say that you’ve done a fantastic job with this. In addition, the blog loads very quick for me on Safari. Exceptional Blog!
thank you so much dalilia for your kind words we do appreciate it all. well we look forward to seeing more of you here