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Seattle Looks Set to Get Sonics Back
AP ^ | Monday, January 21, 2012

Posted on 01/21/2013 11:46:53 AM PST by MinorityRepublican

The only thing stopping the Sacramento Kings from a sale and move to Seattle is approval by NBA owners.

The Maloof family has agreed to sell the Kings to a Seattle group led by investor Chris Hansen, the league confirmed in a statement Monday morning. The deal is still pending approval from the NBA Board of Governors.

A person familiar with the decision said Sunday night that Hansen's group will buy 65% of the franchise for $525 million, move the team to Seattle and restore the SuperSonics name. The Maloofs will have no stake in the team.

The person spoke to The Associated Press on condition of anonymity because the deal was waiting approval.

The sale figure is a total valuation of the franchise, which includes relocation fees. Hansen's group also is hoping to buy out other minority investors.

Sacramento Mayor Kevin Johnson said last week he had received permission from NBA Commissioner David Stern to present a counteroffer to league owners from buyers who would keep the Kings in Sacramento.

The plan by Hansen's group is to have the team play at least the next two seasons in KeyArena before moving into a new facility in downtown Seattle. The deadline for teams to apply for a move for the next season is March 1.

Johnson, himself a former All-Star point guard in the NBA, said in a statement late Sunday night that the city remained undeterred despite the agreement with the Seattle group.

"Sacramento has proven that it is a strong NBA market with a fan base that year in and year out has demonstrated a commitment to the Kings by selling out 19 of 27 seasons in a top 20 market and owning two of the longest sellout streaks in NBA history," Johnson said.

(Excerpt) Read more at online.wsj.com ...


TOPICS: US: Washington
KEYWORDS:

1 posted on 01/21/2013 11:46:56 AM PST by MinorityRepublican
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To: MinorityRepublican

I haven’t really followed the NBA that much ever since the end of “Dream Team” Era from the ‘90s.


2 posted on 01/21/2013 11:48:02 AM PST by MinorityRepublican
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To: MinorityRepublican

Gee, I thought buying a team and moving it was an evil thing. At least that’s what the folks in Seattle said about Oklahoma City.


3 posted on 01/21/2013 11:49:23 AM PST by newheart (The greatest trick the left ever pulled was convincing the world it was not a religion.)
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To: MinorityRepublican

I haven’t followed pro sports much in general in a long time. As far as I’m concerned they can take the Thunder and Ship’em Back.


4 posted on 01/21/2013 11:53:27 AM PST by ImJustAnotherOkie (zerogottago)
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To: MinorityRepublican

“””Seattle Looks Set to Get Sonics Back”””

I didn’t know they left. I guess that means I don’t care. Bummer.

I was in Seattle about 30 years ago and they must have been hot at the time because the whole town had some sort of Sonic Fever hysteria going on. Didn’t care then, don’t care now.


5 posted on 01/21/2013 11:55:27 AM PST by shelterguy
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To: MinorityRepublican

taxpayers should never have to spend a dime on sports teams or venues. Never


6 posted on 01/21/2013 11:56:20 AM PST by GeronL (http://asspos.blogspot.com)
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To: MinorityRepublican

Just another example; the NBA is half a dozen Globetrotters and
the rest are the Washington Generals.


7 posted on 01/21/2013 11:56:26 AM PST by Sivad (Nor Cal Red Turf)
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To: MinorityRepublican

Washington State has no state income tax. California has a marginal state income tax rate of over 13% for high income earners. Well duh, of course the Kings will move to Seattle.


8 posted on 01/21/2013 12:00:07 PM PST by forgotten man (forgotten man)
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To: MinorityRepublican

Sounds like there will be fewer high income taxpayers in the Sacramento area paying for the profligate spending of Jerry Brown and the Democrats. Watch for California state income tax revenue to “unexpetedly” drop.


9 posted on 01/21/2013 12:04:10 PM PST by forgotten man (forgotten man)
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To: MinorityRepublican; All

The Kings franchise will be playing in their different city since the franchise started

Rochester, Cincinnati (first two cities as the Royals), Kansas City, Omaha (as KC-Omaha), Sacramento, and probably Seattle.

They will eventually leave Seattle, too


10 posted on 01/21/2013 12:12:51 PM PST by SeminoleCounty (The only automatic weapon is the one Obama uses to take your paycheck)
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To: forgotten man

If you go back and review how the Sonics left...no one in the city government cared to launch a new arena. They were playing in a place that needed massive renovation...which wasn’t going to occur, and the city felt that they weren’t drawing any tax revenue or money for town.

After the Sonics left, then the town realized that they had screwed up and there was a base of income related to basketball.


11 posted on 01/21/2013 12:23:26 PM PST by pepsionice
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To: pepsionice
After the Sonics left, then the town realized that they had screwed up and there was a base of income related to basketball.

Sufficient to come even close to paying for the facilities?

Cincinnati and Hamilton County are getting screwed on the Bengals' stadium and one of the terms of the agreement to keep the Bengals was that there couldn't be a tax on the tickets to pay for the stadium if sales tax revenues came up short.

I think the best thing to happen would be for cities to just start refusing to pay for these millionaires' playgrounds. If you have fewer cities willing to pay than you have teams, then the threats of moving the team won't work even on those cities that feel they must pay.

12 posted on 01/21/2013 12:38:45 PM PST by KarlInOhio (Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
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To: MinorityRepublican

Too bad all of the win / loss records and hardware will be staying in OKC with the Thunder. So, they’ll be the SuperSonics, a fresh newcomer - until Seattle realizes, once again, that it cannot support an NBA team.


13 posted on 01/21/2013 12:44:51 PM PST by RobertClark (It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark and we'r)
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To: newheart
At least that’s what the folks in Seattle said about Oklahoma City.

see: Baltimore Ravens


14 posted on 01/21/2013 12:48:09 PM PST by Buckeye McFrog
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To: forgotten man
Washington State has no state income tax. California has a marginal state income tax rate of over 13% for high income earners. Well duh, of course the Kings will move to Seattle.

Professional athletes are taxed depending on which state each game is played in; ie what percentage of their income was generated by each game. They pay A LOT of states every year. So, with the high income players, this will have minimal impact on CA tax receipts. The support staff, on the other hand (coaches, trainers, etc) almost always reside where the team calls home and pays taxes accordingly.

15 posted on 01/21/2013 12:48:53 PM PST by RobertClark (It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark and we'r)
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To: GeronL
taxpayers should never have to spend a dime on sports teams or venues. Never

There is a strong likelihood that within the next 2 years the Phoenix Coyotes will bolt and leave a nearly-new, expensive, publicly financed arena sitting empty. THAT may finally get someone's attention.


16 posted on 01/21/2013 12:51:32 PM PST by Buckeye McFrog
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To: GeronL

The owner of the Miami Dolphins (worth $2 billion) is demanding $400 million from the Taxpayers so he can put a roof on his stadium.

The owner of the Carolina Panthers is also demanding Taxpayer money for stadium upgrades with the tacit threat of taking the team to LA.


17 posted on 01/21/2013 12:55:36 PM PST by Tea Party Terrorist (Those who work for a living are now outnumbered by those who vote for a living.)
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To: pepsionice

“This paper reviews the empirical literature assessing the effects of subsidies for professional sports franchises and facilities. The evidence reveals a great deal of consistency among economists doing research in this area. That evidence is that sports subsidies cannot be justified on the grounds of local economic development, income growth or job creation, those arguments most frequently used by subsidy advocates.” - http://econjwatch.org/articles/do-economists-reach-a-conclusion-on-subsidies-for-sports-franchises-stadiums-and-mega-events


18 posted on 01/21/2013 12:56:58 PM PST by JustSayNoToNannies ("The Lord has removed His judgments against you" - Zep. 3:15)
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To: KarlInOhio

The general problem is that hotels tend to benefit from a sports team pitch that runs year-round. If you run a one-sports team operation...there’s no stable income. If you had a smart planning staff and could work up the numbers for hotel taxes...it’d probably all pay off in the end.


19 posted on 01/21/2013 12:58:51 PM PST by pepsionice
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To: Tea Party Terrorist

It is insane. Billionaire owners and millionaire players want and demand OUR money, they should just earn it and pay for their own stuff. Sandra Flukes, all of them


20 posted on 01/21/2013 1:00:46 PM PST by GeronL (http://asspos.blogspot.com)
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To: Buckeye McFrog

You would think, but I have doubts. Public officials pay for “studies” that always tell them what they want to hear.


21 posted on 01/21/2013 1:07:42 PM PST by GeronL (http://asspos.blogspot.com)
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To: pepsionice

subsidized businesses are the dumbest things ever.

let them make a profit and buy their own crap


22 posted on 01/21/2013 1:10:21 PM PST by GeronL (http://asspos.blogspot.com)
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To: Tea Party Terrorist
The owner of the Carolina Panthers is also demanding Taxpayer money for stadium upgrades with the tacit threat of taking the team to LA.

The NFL has probably gotten far more money from not having a team in Los Angeles than it ever would have earned from having a team there. Every time a team wants a new stadium it drops hints of LA Bengals, LA Vikings, LA Panthers, LA (fill in just about any other team) and the city officials grab the taxpayers by the ankles and shake them for money. Once LA has a team the threat of having the Portland Panthers just isn't as scary to cities.

(Portland picked because it is the largest metro area other than LA which doesn't have a NFL team in a couple hours' drive).

23 posted on 01/21/2013 1:18:59 PM PST by KarlInOhio (Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
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To: MinorityRepublican
I haven’t really followed the NBA that much ever since the end of “Dream Team” Era from the ‘90s.

All my interest left with Magic Johnson, Larry Bird and Dominique Wilkins.

24 posted on 01/21/2013 1:24:03 PM PST by eddie willers
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To: KarlInOhio

Baseball used to do this with Tampa Bay. But, I believe “city leaders” are more than happy to give pro teams what they want. Lots of fringe benefits for them.


25 posted on 01/21/2013 1:25:10 PM PST by Tea Party Terrorist (Those who work for a living are now outnumbered by those who vote for a living.)
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To: MinorityRepublican

This is awesome!! Sacramento mistakenly believes that having a major sports team makes Sacramento a world class city. Doesn’t work, won’t work and I can’t wait until the Kings leave to hear all the whining in the Sacramento Pravda.

We’re the state Capitol so it’s not exactly like we’re Rio Linda.


26 posted on 01/21/2013 1:47:03 PM PST by Lx (Do you like it, do you like it. Scott? I call it Mr. and Mrs. Tennerman chili.)
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To: RobertClark

Yeah??? Well, they play half of their games at HOME, so it is a BIG deal tax-wise. Next week Phil Mickelson will be making an announcement as to his future due to both the recent huge increase in state income taxes here in CA and the recent new Fed tax increases on upper income folks. Look for him to be moving out of CA and possibly retiring from Pro Golf. He just backed out of investing in the San Diego Padres due to the recent tax changes. Any high income person would have to be nuts to move into CA on a full time basis.


27 posted on 01/21/2013 1:51:26 PM PST by CdMGuy
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To: MinorityRepublican

I haven’t followed the NBA since it was proven the refs are on the take, and the league doesn’t care. It’s professional wrestling on hardwood.


28 posted on 01/21/2013 1:56:43 PM PST by Cyber Liberty (Obama considers the Third World morally superior to the United States.)
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To: CdMGuy
A wealthy person in California would have to pay like 62 or 63 percent of his income on all taxes.

Let's see how many of them remain in the state by 2015.

29 posted on 01/21/2013 2:01:30 PM PST by MinorityRepublican
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To: MinorityRepublican
" SuperSonics" The Supersonics is stupid name. It was invented when Boeing was planning to build a supersonic passenger jet in the 1970s. Only a few were ever made because of the sonic boom noise pollution.

Why name the team after a defunct aircraft that is literally a relict of the past?

They should pick a name that reflects the character of the city, like the Seattle Gays or the Seattle Potheads.

Possible mascot:


30 posted on 02/03/2013 4:23:00 PM PST by garjog (Heroes Died. Obama Lied.)
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