MyNorthwest.com - Purpose of Comments statement
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.

Comments (105)
Chris Hansen increases Kings bid by $75 million
Five days ahead of an NBA meeting to decide the future of the Sacramento Kings, Seattle investor Chris Hansen says he has increased his bid by $75 million.
Back to story


  • Add A Comment

  • calapete wrote...
    in it to win it!
    gotta love the fight. Not rolling over like Nickels and the City Council did last time.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    Sacramento never matched the original $25 million
    With this the offer is now $100 million more than Sacramento is offering. I do not think this makes the NBA change their minds, but it sure as heck will make the Maloofs unwilling to sell to the Sacramento group who would be paying $100 million less. I think this is just adding fuel to the Anti-Trust fire.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    Correction
    The Maloof's portion of the difference between the purchase prices is $65 million.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Saltchucker wrote...
    Good call Frogsplash.
    Anti-trust fire indeed. Kinda hard to say one is not a monopoly when the free market price doesn't mean much. I bet the NFL and MLB are sweating this a bit too. If pro sports loses their anti-trust exemption from Congress...well I don't know exactly what will happen, but sports won't be the same beast afterward!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Lessmith50 wrote...
    frogsplash
    I agree 100%. I am no lawyer but every expert that is suppose to know the legal end says there is no way in heck that they can force the maloofs to sell. NO WAY! I hope like heck they try. PLEASE NBA TRY! I want them to burn in HECK for all their slimmy crap they pulled under the DEVIL David Stern. The rigging of the draft. The rigging of the playoffs. (See Sonics v. Suns 61 free throws to win by a couple) to the slime ball crap CLAY CLAY and his bed buddy David pulled agains this city in the first place. Not to mention the worst refs in all of sports. Donahey anyone. If we dont get a team I would love to watch that empire the DEVIL built BURN TO THE GROUND! I would love nothing more then to see STERN's legacy blow up in his condesending smug ugly Arse Face. BRING IT BOYS. BRING IT.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Newton wrote...
    Where is the Turbo Flush for this Guy!.
    He won't go down easy!.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Cash wrote...
    HA
    Neither will you...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • darrengrama wrote...
    thats not what i heard
    I heard Newton goes down really easily. Ha. Wicked burn.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Hawkman wrote...
    always good for a laugh..
    hang in there Newton, as you are the clown on the site. We love it.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Teahawk wrote...
    Boom!! I'm eating your grapes, Bro!
    Suck on that KJ.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • JoeSpitWad wrote...
    Teahawk
    Eating some guy's grapes?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • montanamike wrote...
    Go Chris
    I love it fight em to the end........
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • MainEvent wrote...
    Go troll somewhere else Newton
    Thank you Chris, Steve and the Nordtsroms. Fighting the good fight and not backing down!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • MossBro wrote...
    Hmmmmmm
    Pretty CLEAR to me that Mr.Hansen Dosnt NEED any MONEY From the City Now.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    MossBro, you must not understand the Seattle arena deal.
    Yet you feel compelled to comment.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Newton wrote...
    If its such a great Deal LugNut!
    "Let the People Vote on it"!. You! can't seem to see through it amazing!. Whats the Benefit Triple for worthless land Paid for by the Tax payer. Borrow 200 million from tax payers for Bond holders so profits only go to those involed in this scam "the bond holders" idiot lugnut! not the tax paying public. These morons did not become rich by giving money away they take it by the dump truck load. They are worst kind of tape worm. They kill the host slowly.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    Newton, your comment reminds me of the great Steve Martin
    http://www.youtube.com/watch?v=40K6rApRnhQ
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Lessmith50 wrote...
    Newton
    I know your the biggest troll here by far and you like to stick you hand in the hornets nest (LIKE A DUMB ARSE FOOL). The people already has voted. Are you stupid too? Dumb question i know. I figured that one out long ago. So go ahead and vote. So my vote cancels out your dumb arse vote. there you go. I hate fools like you that dont like things to better the community. I have to teach my son to look out for your kind. He has never seen NBA baskeball and his a huge fan of the game. So do us all a favor and disappear. its people like you that impead progress. GO AWAY! NOBODY WANTS TO HEAR YOU OVER AND OVER AND OVER AGAIN!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Chuck Gould wrote...
    Bad news for the fans, regardless which city prevails
    So, a pro basketball team is now worth $625-million? Maybe more, if Hansen is determined to keep spending money like it's only so much worthless paper until he gets his way. [Shouldn't he be pursuing a career in govt?]

    So we'll all be excited about the Sonics returning to Seattle, and the new arena built with $200-million in taxpayer money. The NBA loves to say that "we want the cities to help build the arenas so the local government has some skin in the game." Nonsense. They want the cities to build, or help build the stadiums to free up cash for the ownership groups to use when bidding ever larger amounts for the teams.

    At least we'll all be excited until we discover that tickets in the "standing room only" section, way up in the rafters, are about $50 each per game. Basketball has long been a game played by millionaire athletes for billionaire owners, but at the rate they are inflating the values of the teams nobody except millionaire fans are going to be able to afford a ticket.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • SeattleNative wrote...
    Good call, Chuck
    When all is said and done, moving a team here will cost over $1 billion, including arena. With the cost of staffing, maintenance, utilities, security, athlete salaries, etc., each event is likely to need to gross at least $1 mil to break even in ten-twelve years. If every event sells out, assuming 100 events per year, the average ticket cost will need to be around $90 before taxes and ticket vendor fees.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • SeattleNative wrote...
    Any profit after that....
    ...will come from tax breaks, ancillary sales, and broadcast rights fees.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • The Dude Abides wrote...
    you're forgetting something, native
    They will also be pulling in a cut for every vendor sale on hanson's land. All vendors will be paying a tax to do business there. That's gonna give the group a huge boost in revenue. Not to mention there's the safety net of the seperate account set in place that the group has promised to personally fund if they don't make a certain amount every year. That fund goes to paying back the city for everything they buy into, with the intent after a long period of time to sell the team back to the city.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • saipaner wrote...
    chris's group
    the group has full rights to the stadium area. I believe he already purchased most of the land around...purchase or lease? also, his group has the all the say as to what is built in the surrounding area. they will make their money back w/in due time: hotels, restaurants, parking, complementing businesses, and arena events...it is in their best interest to win at what ever cost.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Lessmith50 wrote...
    chuckles
    That is what TV is for. That is why i have a HD 70" TV. To watch the games. If you want to go watch a game go watch the loser Mariners. They will be bottom feeders until they get new ownership and fire dumb (Lincoln) and Dumber (Armstrong). Suck on that Dumb and dumber you can put your champaine back on ice.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    Chuck, the only taxpayer money will come from those tax payers who attend events.
    I suspect you know that, but you choose to obfuscate. That makes you a better candidate for politics than Hansen.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Chuck Gould wrote...
    Zagnut. How do you sell general obligation bonds and only leave basketball fans on the hook...
    Here's the way the deal works.

    The City sells $200 million in general obligation bonds, and gives the money to Hansen help offset the cost of the arena.

    Hansen then "pays the city back" with taxes generated by ticket sales and other business activities at his arena. Only problem is, those very *same* taxes would be due if Hansen built the arena with private capital, rather than with a combination of private capital and $200-million in funding from the taxpayers of Seattle.

    The actual reason the NBA insists on public financing for arenas is that if the team owners don't have to suffer the entire capital cost of a facility (like every other business in the US does, and should) that leaves more cash available for making inflated offers for NBA teams. Raising the value of a franchise is in the vested interest of all NBA owners.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    It doesn't change the fact that only citizens who attend events will pay taxes toward the cost of the arena.
    Taxes that, of course, won't exist without the arena.

    This is a gift horse that the city looked in the mouth. Because Hansen's group is a virtual dream, they gave the city an even better gift horse. Now, some fools may want to turn even that incredible gift horse down, but fortunately our politicians aren't that stupid.

    The libs in charge are pretty dang stupid mind you, but they aren't that stupid.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Chuck Gould wrote...
    Zagnut...Since the taxes don't exist without the arena, I assume you'll support
    my plan to build a $100-million residential and retail tower at South Lake Union. Only problem, of course, is that even after shaking the piggy bank til my arms give out I'm substantially short of the $100-million in cash or available credit.

    So, have I got a deal for you! Have the city give me the $100-million, and I'll pay it back by paying the property tax and other business taxes dues on the enterprise. Must make sense, right? The city isn't getting any tax money from the enterprise at this point, because it will never exist without city funding. :-)

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • jstumbo wrote...
    and what about the tax breaks the state gave Boeing?
    I guess they should not have given them the breaks? It is like the state gave them $3B in cash to do whatever they wanted. And even then the state does not own the plant after a few decades. It is basically like hansen wants a $200M tax break and is willing to give the city the land and building in 30 years if he gets the tax break.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    jstumbo, you are getting very, very complicated and nuanced.
    Nicely stated, but that's a little too much for our anti-arena crowd to comprehend - especially considering very few of them understand even the basic facts, let alone the fine print of the deal.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    South Lake Union
    Enough said.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Derrol_o wrote...
    Chuck
    Come on man, it's his own money so it doesn't warrant comment or criticism on your part. He can do whatever he wants with it. If he were to be pursuing a career in government he'd have to first show he's adept at spending other people's money like it's worthless paper.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • drittsek wrote...
    Love it!
    Guess this was his ace up his sleeve. This pretty much assures the maloofs won't accept the sacramento offer as they haven't even matched the original offer. I hope this will keep Stern up at night.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Lessmith50 wrote...
    drittsek
    I bet this is still not the Ace of Spades he is holding. I bet this is just the Queen or King of spades. Balmer, Hansen and the Nordstroms are not qazillionaires because they didnt hold the team meeting with EVERY pro and con addressed. This is now getting fun even if we dont get the Kings. I still would rather the PUKES of the NBA cry uncle and give us a exansion team. Then the fun really begins. We all can stand holding seven fingers up. why seven fingers? ONE MIDDLE FINGER A DAY FOR A WEEK TO CLAY CLAY AND HIS LYING CONIVING CLOWNS IN OKC! Then we can shove our fist right up CLAY CLAYS ARSE and take back Kevin Durant when he becomes a free agent.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • The Dude Abides wrote...
    From what I know...
    The NBA's bylaws allow the board of governors to decide whether or not a city can either relocate a team or expand with a new team. However, I don't believe they have any legal right to block a sale alltogether. We all know that the NBA is trying to "persuade" the Maloofs to sell to the Sac group because that would end this whole thing to an extent. Imagine the headache they would have to deal with if the Hanson/Ballmer group still buys the Kings, even if they can't relocate them right now. It would be the whole Clay Bennett mess all over again, but in a new city. You know they want to avoid getting that kind of egg on their face again. Maybe this upped offer will finally convince the board once and for all that Seattle is far and away the better place for this team. Just tell the Sac fans to root for one of the other 3 Cali teams they have. At least they have that as an option.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    They can reject the sale to Hansen
    But they cannot force the Maloofs to sell to the Sacramneto group, as they are trying to do. In actuality, they really should not have even been able to recruit the Sacramento group at all, and they should not be allowed to solicit an offer from the Sacramento group on behalf of the Maloofs. Both are anti-trust questions that would arise should it get there.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • The Dude Abides wrote...
    Thanks, frogsplash...
    that clears some things up for me. I still don't understand why the NBA would even entertain an offer from a city that's pledging enough public funds to potentially bankrupt itself. YA, KJ really has the city's best interests in mind.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Chuck Gould wrote...
    They can also approve the sale to Hansen....
    but force him to keep the team in Sacramento.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    No, they can't Chuck
    See the Raiders vs the NFL when Davis moved the team to LA.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }