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» Saturday, April 28 2012 |
![]() Several attempts to rework a Kings arena deal with the Maloofs, the Kings owners, have ended. Sacramento Mayor Kevin Johnson said "our differences are irreconcilable" in a news conference Friday after meeting with George Maloof for several hours earlier Friday, Thursday and last week. "We worked really hard, we did everything we said we would do, and it still wasn't enough," Johnson said. news10.net Kings co-owner George Maloof said that the framework of the deal reached in Orlando during the NBA's All-Star break, "wasn't a good deal." "You want to do a deal that makes sense, not something that the day you sign it you go 'oh no,'" Maloof said from his executive office at the Palms Casino Resort. "We didn't feel it was good for the City either, quite frankly." news10.net During his interview, Maloof reiterated again that his family's intention is to not move the team from Sacramento. "I'm going to say it one more time, our intention is to stay in Sacramento and we haven't proven otherwise," he said. "A year ago when we said we were leaving, we were sincere about that. We're staying, we're going to get something done and we're focused on building a better team." "We tried," Maloof said earlier Friday. "The timing's just not right. Wow! Man! It's just not the right time." news10.net |
» Thursday, April 26 2012 |
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With Sacto arena situation still in limbo, source says members of Maloof family that owns the Kings will meet with Mayor Kevin Johnson & in Sacramento on Thursday. George Maloof has been leading his family's talks. According to The Bee, minority owner John Kehriotis & senior VP of biz ops John Rhinehart will likely attend. The sides have been talking again after their PR war, but the time has come for substantive discussions. This meeting will say a lot about which direction this is headed. Sulia |
» Saturday, April 21 2012 |
![]() The mayor returned from Las Vegas following an impromptu meeting Friday afternoon with Sacramento Kings co-owner George Maloof. He called the meeting, which lasted about an hour, with brother George “very productive” and stressed the importance of keeping the lines of communication open “in the spirit of Sacramento.” Johnson says the two sides agreed to a follow-up meeting on possibly Monday or Tuesday of next week. Cowbell Kingdom “Today was wasn’t really about Plan A or Plan. Today was about ‘does it make sense for us to keep talking?’ and we both agreed it did.” “I don’t know what the hard deadline is. But I can’t imagine us going longer than another week or two. I just can’t imagine that scenario. And quite honestly, I don’t even know if we can make it today. That’s what we want to find out – when is the drop dead deadline to be able to have everything in place to be able to make 2015? I don’t know that answer. That’s what the next couple weeks is really about for all of us.” Cowbell Kingdom Sam Amick: Sacto mayor Kevin Johnson & Kings co-owner George Maloof met in Vegas today & will meet again next week. Didn't see that coming. Twitter |
» Friday, April 20 2012 |
![]() Mayor Kevin Johnson flew to Las Vegas today, in an apparent attempt to revive talks with the Sacramento Kings' ownership on a downtown arena. After a week of trading accusations about the collapse of the arena project, the mayor arrived at the Palms Casino, whose chairman is Kings co-owner George Maloof. A Maloof spokesman confirmed the meeting. Eric Rose said the mayor showed up this afternoon unannounced at the Palms Hotel. "George graciously accepted his meeting," Rose said. "They are meeting right now." Sacramento Bee Maloof and the mayor traded text messages the past two days about holding a meeting but couldn't coordinate their schedules. So, the source said, Johnson arrived at the Palms unannounced and was ushered into Maloof's office. Sacramento Bee |
» Sunday, April 15 2012 |
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To work out a deal with the City of Sacramento for a new entertainment complex for the Kings, co-owner George Maloof would like to hit the reset button with one key figure absent. "I don't think I'd want to negotiate with the mayor," Maloof told USA TODAY Sports on Saturday. "Maybe there's someone else that I'd feel more comfortable with. "We're disappointed in comments made by the mayor that we feel were shots to us that were unfair and not truthful." USA Today Letters obtained by USA TODAY Sports show that on March 5, Maloofs attorney Scott Zolke sent a one-page letter to City Attorney Eileen M. Teichert and asked that they address "the unresolved issues." The next night, the Sacramento City Council approved the non-binding term sheet between the Maloofs, the city and AEG. On March 28, Zolke sent a one-page letter to Assistant City Manager John Dangberg that emphasizes "there was never an agreement reached" in Orlando and mentions the "the unresolved issues" again. In an April 2, six-page letter to Dangberg, Zolke writes that "the City has yet to solidify a financing plan" and questions if a facility can be built in time to open for the 2015-16 season. Though Johnson said most of this was news to him, George Maloof insists that Stern's office informed him. "We were working with the league. The league was working with the city throughout the whole year," he said. "It was our understanding that everything was getting to the city. … That was told to us by the league." USA Today |
» Friday, April 13 2012 |
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A spokesman for the Maloofs has previously said arena builder AEG similarly had left the owners exposed to taking on expenses they were uncomfortable accepting. "The mayor has accused me of backtracking, there's no evidence of us backtracking," George Maloof said Friday. "We were operating under assumptions.... We were working to get a deal done, not to kill the deal. How do we negotiate when we don't hear back from the city?" Los Angeles Times David Aldridge: Sacramento Mayor Kevin Johnson: Maloofs "explicitly stated that the deal was a fair deal. That's what's most troubling to me." Twitter ![]() On Friday, the Sacramento Kings leadership group, headed by George Maloof, held a press conference in New York City to address a number of issues related to the progress of Sacramento's proposed arena. Among the various points discussed were the term sheet provided to the Kings by the city of Sacramento, the economic viability of Sacramento to build the arena, and the ability by the Kings to achieve revenue targets. news10.net One of the Maloofs' major contentions is the city of Sacramento's term sheet contained many points the Kings disagreed with from the time they received the document. "There were one or two threshold issues we agreed on, but there were lots of issues not agreed on," explained George Maloof. One of those is the city's contention the Maloofs would pay $3.2 million in pre-development fees. The Maloofs have said no. news10.net Ken Berger: Stern, asked whether he believes Maloofs want to be in Sacramento: "I take them at their word. I always have." Twitter Tim Bontemps: Stern says Maloof's fiscal situation isn't a factor in this situation. Sacramento reporter challenging him on the point. Twitter |
» Wednesday, April 4 2012 |
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The dispute over who should cut the first checks for a downtown arena intensified Tuesday, with the leader of the state Senate saying that the owners of the Sacramento Kings "seem to be looking for every reason not to proceed" and the mayor accusing the Maloof family of "tactics and antics." The tension spilled into City Council chambers in the evening, when several council members questioned whether the Kings' owners were serious about partnering with the city after the team said it does not intend to pay a share of pre-development costs on the $391 million project. The council eventually approved moving forward with crucial pre-development work required for the arena by a 7-2 vote, agreeing to spend $200,000 provided by the NBA to fund that work over the next two weeks. Sacramento Bee After a handshake deal was reached more than a month ago during NBA All-Star weekend in Orlando between Sacramento Mayor Kevin Johnson, city officials and owners Gavin, Joe and George Maloof, a dispute over who cuts the first checks has arisen. It centers around the brothers contributing $3.2 million of pre-development costs for the $391 million entertainment complex to open in 2015. The city council voted 7-2 late Tuesday to accept $200,000 from the NBA to pay for environmental and architecture work to allow the project to begin. But it is only a reprieve for both sides to settle the dispute, or this arena project likely will die. USA Today This covers the time period of the NBA's next Board of Governors meeting, in New York for several days next week, when Commissioner David Stern is expected to talk with both Sacramento sides in hopes of resolving the arena/franchise issue. The Maloofs say they never agreed to contribute to pre-development costs when they settled on a non-binding term sheet with Johnson and city officials. USA TODAY Sports is awaiting a response from the NBA, which said Stern is traveling and was unavailable for comment. The league, however, referenced Stern's statement from Friday: "Following the agreement in principle that was reached on February 27 among the City of Sacramento, AEG and the Kings for a new arena, the parties have been attempting to reach agreement on funding the pre-development expenses that must be incurred in order for the project to move forward in a timely fashion. Those discussions have stalled but I have advised Mayor Johnson that the NBA will advance pre-development expenses on behalf of the Kings pending our report to the NBA Board of Governors at its meeting on April 12-13." USA Today |
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