Kings

Sac's effort to keep Kings headed for overtime

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Sac's effort to keep Kings headed for overtime

Sacramento's last shot to remain an NBA city appears headed for another overtime.

NBA Commissioner David Stern and Sacramento Mayor Kevin Johnson said Wednesday they have agreed to a "work plan" in hopes of reaching a deal to finance a new arena by the March 1 deadline. Johnson, Stern and the Maloof family, which owns the Sacramento Kings, will meet during this weekend's All-Star festivities in Orlando, Fla.

If a plan can been hammered out in time, a term sheet will be announced March 1 and the Sacramento City Council will vote on the plan at its March 6 meeting, possibly avoiding the relocation talk that surrounded the team last year when it almost moved to Anaheim.

"Sacramento stands ready to meet the March 1 deadline," Johnson said in a statement. "Our approach makes good on the principles that have guided us throughout this process: protecting the taxpayers, creating jobs, and pursuing an open and transparent process."

The major sticking point in negotiations remains how much the Kings will contribute.

Under the proposed agreement, the city of Sacramento will raise about 190-230 million by leasing out parking garages to private investors, a person familiar with the negotiations told The Associated Press. The person, speaking on condition of anonymity because they were not authorized to disclose the information, said another 75-100 million is expected from the Kings and 40-60 million from arena operator AEG.

The remaining gap will be covered by some combination of a ticket surcharge, advertising around the arena, allocating a portion of the city's existing transient occupancy tax or a sale of three or four parcels of city land.

The final price tag for AEG depends largely on the team's contribution.

The Kings' portion would include upfront cash - the city had initially asked for 60 million - and donating back the land around the franchise's current suburban Sacramento arena, estimated at about 25 million. AEG's contribution will be impacted by the splits with the team in arena-related revenue.

The two sides are making progress and hope to bridge the gap to finance the estimated 406 million arena, which would open for the 2015-16 season in the downtown Sacramento rail yards. The Kings nearly moved south to Anaheim last year, twice extending the relocation deadline and struggling to gain approval from league owners.

Johnson made a desperate pitch to the NBA Board of Governors last April to give the city a final chance to come up with an arena plan. He also bought time by presenting more than 10 million in commitments for new advertising, ticket purchases and other financial support from regional businesses for this season.

Despite attempts by Anaheim and Seattle to swoop in and lure the Kings, Stern said the league is making every attempt to keep the franchise in California's capital.

"We appreciate the work of the City of Sacramento and (our) discussions have been constructive," Stern said in a statement. "Our hope is that current momentum continues in a way that we're able to reach a deal by March 1 that makes sense for all parties."

Word of the extended arena talks also reached the Kings before the team's game at the Washington Wizards on Wednesday night.

"It's good for the team and the city, the positive news of today," Kings coach Keith Smart said. "But for the basketball players, their focus is on the game."

Kings owners Joe and Gavin Maloof haven't been involved in negotiations. The league is bargaining with Sacramento officials on the franchise's behalf and will present the final proposal to the team.

Joel Litvin, president of league operations, and Harvey Benjamin, executive counsel for business and finance, are the NBA's lead negotiators. Stern also has been receiving updates.

The NBA could force the Maloofs into bringing in investment partners or - as a last resort - even sell the team if the owners walk away from a plan that has the league's approval.

Southern California billionaire Ron Burkle remains interested in buying the Kings. And Christopher Hansen, a hedge-fund manager based in San Francisco and a Seattle native, is also making proposals to bring an NBA team to Seattle - with eyes on the Kings if Sacramento's latest plan collapses.

The Maloofs insist they're not selling the team. A Kings spokesman said the team is refraining from comment until the NBA and the city complete a proposed plan.

The Maloofs' colossal charity bet on Mayweather-McGregor circus act

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AP

The Maloofs' colossal charity bet on Mayweather-McGregor circus act

Gavin and Joe Maloof have gambled plenty in their lives, which is in part how they ended up losing the Sacramento Kings. They ran big, they hit a dry well, and they ended up selling the works.

So their decision to bet $880,000 on Floyd Mayweather in his “thing” with Conor McGregor for a $160,000 payout seemed the perfectly daft idea for two guys who were painted as perfectly daft when they were running the Kings and their other businesses into a freeway abutment on I-80.

In fairness, they are planning to donate their winnings to a number of charities in the name of their hangover drink (Never Too Hungover, although I might have gone with the more lyrical HurlNoMore), so it’s not like their hearts aren’t a place close to the mythical “right place.”

But it does beg the question, “Why don’t they just give $160,000 and skip the scam?” Because it wasn’t about charity, it was about promotion, and while there’s nothing wrong with promotion, attaching it to one of the seediest carnival events of the modern era makes it seem, well, kind of creepy.

Or maybe “creepy” is too strong. Maybe’s it’s just opportunism, which is more, well, Vegas-y.

Kings fans will remember the Maloofs as the family that saved the foundering team from the clutches of owner Jim Thomas, and then remember them as the family whose clutches Vivek Ranadive had to save the team from 15 years later. It’s the nature of most ownerships – you do good to eliminate a prior evil, and eventually become evil yourselves when the fans turn on you.

But the Maloofs aren’t evil – even their most strident critics will say that. They just saw an opportunity to scratch a bunch of itches at once – good-heartedness, advertising, gambling and Vegas’ most important product – selling you things you could never imagine wanting.

It almost makes you wonder if they harbor a secret itch to take the $160,000 and double down on behalf of the charities for another of their pet projects – the Vegas Golden Knights. If they put it on the Knights to win the Stanley Cup at 200-1, that’s $32,000,000. Then if they took that and . . .

. . . and before you know it, they’re trapped in the fantasyland of Las Vegas at its weirdest. Maybe it’s just performance art with more money than most of us can eat.

Top seven Kings' games to watch during 2017-18 season

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USATSI

Top seven Kings' games to watch during 2017-18 season

The Sacramento Kings released their 2017-18 schedule Friday afternoon. While the league has added 10 days to the calendar, the Kings schedule is still packed with 16 sets of back-to-backs and a season-long six game road trip during the month of January. It’s a whirlwind of excitement that begins October 18 with at the Golden 1 Center. Here are seven games to look forward to as the Kings embark on their 33rd season in Sacramento.

Opening night 2017-18 - October 18 - Kings v. Rockets - Hope spring eternal with the tip off of another season of Kings basketball. Of the 17 players expected on the opening day roster, 10 are new to the team, including De’Aaron Fox, Bogdan Bogdanovic, Vince Carter and George Hill. It’s a young an exciting squad with only five players with more than two seasons of NBA experience. The Kings open their schedule at home against James Harden, Chris Paul and high-powered Houston Rockets.

DeMarcus Cousins comes home - October 26 - Kings v. Pelicans - After 6-plus seasons in a Kings uniform, the 3-time All-Star returns to Sacramento for his first game from the visitors locker room. He’ll bring along another familiar face in former Kings point guard Rajon Rondo, who inked a one-year deal in New Orleans over the summer. Expect a ton of emotion, both from Cousins and a packed full house of Kings fans.

The Process vs. The Rebuild - November 9 - Kings v. 76ers - The 76ers have spent the last decade working on a plan to accumulate great young players while piling up losses at an alarming pace. Sacramento pulled the plug on the DeMarcus Cousins experience, instead choosing to go with a full youth movement. Fultz vs. Fox will headline the night, but there is plenty of intrigue as two of the youngest teams in the NBA battle it out.

Fox vs. Ball - November 22 - Kings v. Lakers - The rivalry between these two young guards is only going to get better with age. Fox likely won’t start the season with the first unit, like Ball, but he’ll get plenty of opportunity to shine. For better or worse, it’s Ball’s show in LA. Let the trash talking begin.

Rudy Gay makes his return - December 23 - Kings v. Spurs - Rudy Gay took a huge gamble and an even bigger pay cut when he opted out of the final year of his contract with the Kings. He and his rebuilt Achilles tendon  landed in San Antonio on a two-year, $17 million deal. He’ll likely play for a playoff spot for only the second time in his 11-year career.

Dennis Smith visits Sacramento - February 3 - Kings v. Mavericks - The Kings jumped all over the chance to draft De’Aaron Fox with the fifth overall selection and in doing so, they passed on another incredibly talented young guard in Dennis Smith. Dallas may have stumbled on a superstar and Smith likely has a list of all of the teams that passed him over in the 2017 NBA Draft.

The Champs come to play - February 4 - Kings v. Warriors - The Warriors and Kings have taken turns being awful over the last 30-plus years. While the Kings are predicted to miss the playoffs for the 12th straight season, Golden State is the odds on favorite to take home their third ring in four years.With just 90 miles separating the two fanbases, it should be an interesting mix of purple and yellow in the crowd.

Here's the Kings' full 2017-18 schedule: