A Pinoy-owned NBA Team? Lol.
This article came from Philippine Star about a soon-to-be owner of Sacramento Kings franchise in the NBA who reported to be a Filipino businessman(MVP? Lol.). Courtesy of Joaquin Henson.
Pinoy offered royal NBA entry. http://www.philstar.com/ArticleListByAuthorname.aspx?AuthorName=SPORTING%20CHANCE%20By%20Joaquin%20Henson. The Philippine Star Updated April 10, 2011 12:00 AM
There’s a firm offer on the table for a Filipino businessman to take over the Sacramento Kings franchise in the NBA and the word is the reported $250 Million deal is seriously being considered.
Two weeks ago, two high-caliber financial consultants quietly arrived in Manila to explore a possible purchase of the NBA team with the businessman whose interests are in telecommunications, energy, infrastructure, finance, food, public utilities and more. One of the consultants was a Filipina. Apparently, the trip was made known to Sacramento City Mayor Kevin Johnson, a former NBA player who visited Manila on a Converse promotional tour in 1986. Johnson is spearheading a campaign to keep the Kings in Sacramento after the franchise owner, the Maloof family, announced a plan to relocate the team to Anaheim.
Buying and selling NBA franchises is nothing new. Last year, Chris Cohan sold the Golden State Warriors to Joe Lacob for $450 Million. The Maloofs were given a deadline of April 18 to request the NBA for approval to relocate to Anaheim. A source said an NBA team owners meeting is set April 16 and Los Angeles Lakers owner Jerry Buss is rumored to file an objection to the relocation on the grounds that Anaheim encroaches on his territorial rights.
The Maloofs, who are of Lebanese descent, bought the Kings franchise in 1998. Brothers Joe and Gavin Maloof manage the team. Dwindling attendance and poor performance drove John Thomas to resign as the Kings president last year. But business observers said the Maloofs buried themselves in a heap of debt that reversed their fortunes.
The Maloofs are burdened by a loan of at least $750 Million that was used to build the Palms, a Las Vegas hotel and casino. Additionally, they owe the Sacramento City government $77 Million to operate the Kings. The Maloofs attempted to reenergize the sagging franchise by proposing to build a new arena, financed by taxpayers, but were rebuffed. To save a deteriorating situation, the Maloofs thought of relocating to Anaheim, possibly hoping to lure new investors in the process.
But NBA lawyer Richard Buchanan said a relocation will mean the Maloofs settling their Sacramento City debt in full.
When Thomas resigned, the Maloofs said they were taking hands-on control of the franchise. They were reportedly “stunned by the lack of an innovative business and marketing model” that was cited as a cause for the disenchantment with Thomas.
No details were available as to the terms of negotiation with the Filipino businessman but the source said whatever happens, it will be a win-win situation for all parties concerned. It’s not certain if the asking price of $250 Million will include the assumption of the Maloofs’ astronomical debts.
Unlike in the PBA, the NBA disapproves the use of corporate names or nicknames to identify a franchise. For instance, when the Vancouver Grizzlies were relocated to Memphis in 2001, there was an attempt to use the moniker “Express” because Federal Express, which is based in Memphis, was a substantial sponsor. But the NBA rejected the change of moniker. So the only business justification for owning an NBA team is it must be self-sustaining. However, the arena where it hosts home games may carry a sponsor name such as the Staples Center in Los Angeles or the Power Balance Pavilion in Sacramento.
Before the Vancouver Grizzlies were sold to Michael Heisley in 2000, the team was offered for sale to a Filipino businessman. But the deal never got off the ground because the franchise was bogged down in debt and management problems.
Unfortunately, Sacramento is one of the NBA’s lowliest performers. The Kings are second to last place in the 15-team Western Conference with a 23-56 record at presstime. Overall, they are ranked 26th of 30 teams. Coach Paul Westphal’s lineup isn’t exactly the most exciting or explosive in the league although there are some pieces worth mentioning, like 6-11 rookie DeMarcus Cousins, 6-9 Omri Casspi of Israel, 6-6 Tyreke Evans and 6-4 Marcus Thornton. But it’s not likely that the Kings can make waves with Francisco Garcia of the Dominican Reublic, Beno Udrih of Slovenia, Sam Dalembert of Haiti and veteran Marquis Daniels.
Mayor Johnson is supposedly upbeat on the possibility of a Filipino taking over the Kings franchise. No other Asian was offered team ownership, placing the Filipino businessman in an elite short list.
Imagine a Filipino businessman rubbing elbows in an NBA team owners meeting with Buss, Russian billionaire Mikhail Prokhorov of the New Jersey Nets, Jerry Reinsdorf of the Chicago Bulls, Donald Sterling of the Los Angeles Clippers, Mark Cuban of the Dallas Mavericks, Micky Arison of the Miami Heat (where Julio Iglesias is a minority owner) and Michael Jordan of the Charlotte Bobcats.
If the Filipino ownership pushes through, perhaps the franchise can bring in the first and only Filipino-American to play in the NBA - Raymond Townsend who suited up for the Warriors and the Indiana Pacers - to join the front office even in an honorary capacity. Then, the team can hire Fil-Am coach Erik Spoelstra from Miami and enlist the first pure-blooded Filipino ever to play in the NBA - maybe, Jimmy Alapag or James Yap or L. A. Tenorio.
We can dream, can’t we?
PS:If this rumour is true, we can finally penetrate the NBA and it's gonna be easy for the Pinoy Hoops player to enter the biggest basketball league in the world. Not only that, we can give our fellow Asian players to play for this team(so far, the only Asian player in Kings franchise is Omri Casspi of Israel, if you consider him as an Asian. Lol.). Now that the Kings are out of the play-offs, if the deal pushed through, the whole coaching staff will be replaced by the current corps of coaches from Samahang Basketball ng Pilipinas. They might use the system of Serbian coach Rajko Toroman.
Here's the current roster of Sacramento Kings:
And here are the companies that Mr. Manny V. Pangilinan owns and manages:
When the leading dailies in the Philippines published this news feed, it became a hot topic on Twitter, IBN and Pex Forums. Most of the netizens and Pinoy basketball fans got pumped up with this news, some are criticizing the news articles. The critics are claiming that it's just a hoax, but the question is; if is this a hoax, how come the sports analysts agreed with this would-be scenario? But if I were Mr. MVP, I must think about it first. It's not easy to operate an NBA franchise. The salaries of the NBA players are waaaaaaayyyyy bigger than the PBA players. It's going to be a big risk, but it's worth a try. After all, owning an NBA franchise will be easy for MVP's company to market its products and companies in the US.
Before I forgot, here are the links of discussions about soon-to-be purchased NBA franchise:
Twitter:http://twitter.com/#!/saved-search/sacramento%20kings
IBN Philippines Forums:http://forums.interbasket.net/f32/rumor-mvps-planning-to-buy-a-16247/
And why in the blue hell did I put the pictures of the Sacramento Kings Cheerleaders who are behaving badly? Lol.
Latest Update:
Kings finale could also be last game in Sacramento
SACRAMENTO, Calif. (AP) -- Some will cry. Others will protest. There will be signs of support and banners expressing anger. And in the end, no matter the score, everyone will say goodbye.
Maybe for the last time.
The deadline so many fans here have dreaded finally arrives Wednesday night when the Kings host the rival Los Angeles Lakers in what might be the final game in Sacramento. With the Kings mulling a move to Anaheim, "Fan Appreciation Night" suddenly feels like farewell.
"It's going to be a basketball funeral," said Robert Crashner, a Kings season-ticket holder for almost a decade. "Unless a miracle happens, I guess it's going to be over."
The outlook in California's capital city certainly seems gloomy.
Kings fans, most already talking about their team in the past tense, are still organizing for what will surely be an exhausting regular-season finale. Social-networking efforts have sprouted up and a sellout crowd is expected, with everything from a sit-in afterward to a boycott beforehand among the possibilities planned.
Signs reading "Save Our Kings" and billboards across town plastered "It's Not Over" have been the widespread themes thus far, and there will surely be countless posters - maybe even a few cowbells - at the finale.
For most, the Lakers game offers a chance to vent any feelings - frustration, anger, joy, whatever - one last time.
"It's a Hail Mary pass, it's the bottom of the ninth, it's the 15th round, whatever sports analogy you want to use," said Carmichael Dave, a Sacramento sports-talk host who helped form the group "Here We Build," a grass roots initiative aimed at raising funds for a new arena.
"We're going down with a fight."
Hours after the final buzzer sounds, the NBA Board of Governors will begin meeting a continent away in New York to start deciding Sacramento's basketball fate.
Kings owners Joe and Gavin Maloof, who are not expected to attend the season finale, are scheduled to make a pitch to fellow owners to move the franchise to Anaheim next season, and Sacramento Mayor Kevin Johnson - a former NBA All-Star - also will attend the meeting to plead the city's case to keep the franchise.
The Maloofs have until Monday to officially file for permission to relocate, and a vote would likely come within weeks of that request. All that's required is approval by a simple majority of the owners, and no NBA team has ever been denied permission to move in the 27 years under Commissioner David Stern.
The only thing guaranteed for Sacramento is 48 more minutes of professional basketball.
"The not knowing part - it stinks," Kings forward Donte Greene said. "I don't know what I'm going to do if we leave. I know the fans are going to be hurt, and I feel for them."
Only a few years ago this scenario wouldn't have seemed possible.
Sacramento was a thriving NBA franchise that produced sellout streaks of 497 and 354 straight games. The building formerly known as Arco Arena provided one of the most notorious home-court advantages in the league, a place where fans clanked cowbells so loud opposing coaches and players pleaded to have the noisemakers banned.
The Kings won an NBA-best 61 games in the 2001-02 season behind Chris Webber and Vlade Divac, losing to the eventual champion Lakers in the Western Conference finals at home in a decisive Game 7.
"This was a special city when I was here," said Rick Adelman, the coach of those memorable Kings teams. "The fans were incredible. It would be sad to see them leave. It is hard for me to believe there won't be a team in Sacramento."
Sacramento, with budget deficits and heavy job losses during the economic downturn, has turned down initiatives for years to contribute public dollars to replace or upgrade the aging arena. The Kings have steadily declined, and so has fan interest.
So the Maloofs began exploring other options.
Anaheim's Honda Center in Orange County offers high-priced corporate sponsors the Central Valley can't match and an NBA-ready arena with more luxury suites and improved sightlines, perhaps outweighing the downside of competing with the Lakers and Los Angeles Clippers in the same market.
Anaheim's City Council already has issued the bonds needed to entice the Kings to move, new federal trademark names - Anaheim Royals, among them - have been requested and about everything else to move the franchise is in motion.
Still, some Kings fans hold out hope that maybe, just maybe, it will all fall apart.
"When I walk out after the season finale, I have to believe it's not over," Crashner said. "If I didn't, it would be too sad to ever leave."
Another latest update:
source: Joaquin Henson | philstar.com
Two US-based female brokers – one a Filipina marketing specialist from Cincinnati and the other an American financial analyst with an investment bank
– are negotiating a deal for a group led by PLDT chairman Manny V. Pangilinan to take over majority control of the struggling NBA franchise Sacramento Kings.
The brokers were in Manila two weeks ago to confer with Pangilinan on an offer to buy up to 80 percent of the team owned by the Maloof family. Pangilinan was reportedly with Maynilad president Ricky Vargas, MVP Sports Foundation president and Meralco senior vice president Al Panlilio, Maynilad senior vice president Patrick Gregorio and Talk ‘N’ Text coach Chot Reyes when he met the brokers at the PLDT building in Makati.
A source close to the brokers said the amount of $250 million was mentioned as “a possible opening bid to get the ball rolling.” It was not certain if the Maloofs, saddled in debt, knew the brokers would approach a Filipino group but the source said Sacramento City Mayor Kevin Johnson was aware.
“Mayor Johnson even remarked that Sacramento and Manila are sister cities,” said the source. “He wants to keep the team in Sacramento because there is a move to relocate it to Anaheim. Mayor Johnson hopes to lead a drive to put up a new state-of-the-art coliseum for the Kings. He’s excited about the possibility of a Filipino group owning the franchise.”
The source added that the team owner of another California NBA franchise was informed of the approach to the Filipino group and expressed support. “In fact, he even asked if the Filipino group could send a letter of intent to buy the franchise to the NBA in time for the Board of Governors meeting,” said the source. However, no letter of intent was given.
The NBA Board of Governors meeting started yesterday and will end today (US time) in New York. The Maloofs were given a deadline of up to Monday to request the NBA for approval to relocate to Anaheim. Mayor Johnson was scheduled to attend the Board meeting and make a pitch to save the Sacramento franchise. Several groups, including one linked to former Kings star Chris Webber, have indicated support for Mayor Johnson’s campaign.
The source said 20 percent of the franchise has been offered to a New York investment group. He added that the two brokers are receiving vital information on basketball operations from an NBA assistant coach and a former NBA player who is the shooting instructor of an NBA superstar.
“Mr. Pangilinan was even invited to watch the Los Angeles Lakers-Oklahoma City game in Los Angeles last Sunday,” said the source. “We were told that Lakers owner Dr. Jerry Buss wanted to meet Mr. Pangilinan although that wasn’t confirmed. We were also informed that Dallas Mavericks owner Mark Cuban would support the move to keep the Kings in Sacramento.”
Whether the Maloofs will sell the franchise or not if it relocates to Anaheim is a question mark. At the moment, the Maloofs owe the Sacramento City government $77 million to operate the Kings franchise which reportedly absorbs a loss of $25 to $28 million a year.
The source said that while Pangilinan may be interested in considering the offer, he has other business priorities to tackle. “It’s no joke buying an NBA franchise,” said the source. “It may not happen in the near future but who knows? So far, no lawyers have been assigned to look into the offer.”
Another source close to Pangilinan said yesterday there are no developments regarding the offer.
“We were told that the NBA wants to invite Mr. Pangilinan for a meeting just to talk, know the NBA better and chat with commissioner David Stern,” said the source. “The things for consideration in owning an NBA team are absentee ownership, not too keen on being a part of a stadium construction, viability of the team and compelling justification linking the acquisition to the business.”
2nd PS:Some of the critics are insisting that the supposed selling of Sacramento Kings to a certain Filipino businessman is just a hoax. Well, how come the Filipino and Asian Communities in California are so upbeat about the would-be opportunity of having an Asian-controlled NBA franchise? Just a thought though. Lol.
Latest Update:
A reliable source said that while there is “serious interest” in taking over the struggling franchise, Pangilinan may have to wait since the team’s owner – the Maloof family which has 80 percent share – had reportedly agreed to stay in Sacramento.
The Maloofs reportedly tried to relocate the Kings to Anaheim, California, but Sacramento Mayor Kevin Johnson, a former NBA player, was able to convince the owners to stay for one more season as they try to gather their resources to build a new arena.
This is where Pangilinan, who owns various businesses in the country and in Hong Kong, will probably come in to help the city of Sacramento keep the Kings.
Pangilinan’s group is currently in San Francisco to attend several business meetings, as well as watch exhibition games of Ateneo and San Beda College.
While meeting Johnson is not part of their schedule, the source said that a meeting could take place if the city Mayor will arrange it for the group to discuss the possibility of Pangilinan joining the NBA team in the future.
“We didn’t come here for that (meeting with Johnson),” said the source who asked not to be named. “But if they’d like to talk to us, then probably we can meet them. It’s them who want us, not the other way around.”
The source also said that if ever Pangilinan agrees to join Sacramento’s NBA team, it’s likely to happen in 2012-2013 Season, saying: “I doubt if this will be next season since the Maloofs have decided to stay in Sacramento.”
Pangilinan’s group will travel to Hong Kong on May 19 to attend a big anniversary celebration of the First Pacific Company on May 20.
Meanwhile, Talk ’N Text coach Chot Reyes said yesterday that there’s a possibility for guard Jimmy Alapag and forward Kelly Williams to play a couple of games for the Tropang Texters in the Governor’s Cup since they want to help TNT win the coveted “Grand Slam.”
TNT will start its Governor’s Cup campaign with back-to-back games in Dubai against Ginebra on June 2 and B-Meg on June 3.
Alapag and Williams were named by Smart-Gilas Pilipinas Serbian mentor Rajko Toroman together with Asi Taulava of Meralco and Dondon Hontiveros of Air21 to reinforce the national team in the FIBA-Asia Championship in September in Wuhan, China.
But Alapag and Williams will join the team after the FIBA-Asia Championship.
Meantime, Alaska has traded rookie forward Elmer Espiritu – its No. 4 overall pick in last year’s PBA Rookie Draft – to Air21 for veteran wingman Wesley Gonzales. The deal is up for approval by PBA Commissioner Chito Salud.
Pinoy offered royal NBA entry. http://www.philstar.com/ArticleListByAuthorname.aspx?AuthorName=SPORTING%20CHANCE%20By%20Joaquin%20Henson. The Philippine Star Updated April 10, 2011 12:00 AM
There’s a firm offer on the table for a Filipino businessman to take over the Sacramento Kings franchise in the NBA and the word is the reported $250 Million deal is seriously being considered.
Two weeks ago, two high-caliber financial consultants quietly arrived in Manila to explore a possible purchase of the NBA team with the businessman whose interests are in telecommunications, energy, infrastructure, finance, food, public utilities and more. One of the consultants was a Filipina. Apparently, the trip was made known to Sacramento City Mayor Kevin Johnson, a former NBA player who visited Manila on a Converse promotional tour in 1986. Johnson is spearheading a campaign to keep the Kings in Sacramento after the franchise owner, the Maloof family, announced a plan to relocate the team to Anaheim.
Buying and selling NBA franchises is nothing new. Last year, Chris Cohan sold the Golden State Warriors to Joe Lacob for $450 Million. The Maloofs were given a deadline of April 18 to request the NBA for approval to relocate to Anaheim. A source said an NBA team owners meeting is set April 16 and Los Angeles Lakers owner Jerry Buss is rumored to file an objection to the relocation on the grounds that Anaheim encroaches on his territorial rights.
The Maloofs, who are of Lebanese descent, bought the Kings franchise in 1998. Brothers Joe and Gavin Maloof manage the team. Dwindling attendance and poor performance drove John Thomas to resign as the Kings president last year. But business observers said the Maloofs buried themselves in a heap of debt that reversed their fortunes.
The Maloofs are burdened by a loan of at least $750 Million that was used to build the Palms, a Las Vegas hotel and casino. Additionally, they owe the Sacramento City government $77 Million to operate the Kings. The Maloofs attempted to reenergize the sagging franchise by proposing to build a new arena, financed by taxpayers, but were rebuffed. To save a deteriorating situation, the Maloofs thought of relocating to Anaheim, possibly hoping to lure new investors in the process.
But NBA lawyer Richard Buchanan said a relocation will mean the Maloofs settling their Sacramento City debt in full.
* * * *
With Buss expected to roadblock the relocation, the Maloofs are supposedly exploring the option of selling out. They were once in the pink of financial health. In 1994, the family bought the Fiesta Hotel in Las Vegas for $8 Million and less than 10 years later, it was resold for $185 Million. Part of the proceeds went into setting up the Palms.When Thomas resigned, the Maloofs said they were taking hands-on control of the franchise. They were reportedly “stunned by the lack of an innovative business and marketing model” that was cited as a cause for the disenchantment with Thomas.
No details were available as to the terms of negotiation with the Filipino businessman but the source said whatever happens, it will be a win-win situation for all parties concerned. It’s not certain if the asking price of $250 Million will include the assumption of the Maloofs’ astronomical debts.
Unlike in the PBA, the NBA disapproves the use of corporate names or nicknames to identify a franchise. For instance, when the Vancouver Grizzlies were relocated to Memphis in 2001, there was an attempt to use the moniker “Express” because Federal Express, which is based in Memphis, was a substantial sponsor. But the NBA rejected the change of moniker. So the only business justification for owning an NBA team is it must be self-sustaining. However, the arena where it hosts home games may carry a sponsor name such as the Staples Center in Los Angeles or the Power Balance Pavilion in Sacramento.
Before the Vancouver Grizzlies were sold to Michael Heisley in 2000, the team was offered for sale to a Filipino businessman. But the deal never got off the ground because the franchise was bogged down in debt and management problems.
* * * *
There were reports that the Sacramento franchise is losing an average of $25 to 28 Million a year. It’s no joke to pay multi-million dollar salaries to top players even with a cap in place. To be financially viable, a franchise must be at least a playoff contender – meaning it must have a competent coach, top-notch players and a solid management team that is creative, market-sensitive and productive.Unfortunately, Sacramento is one of the NBA’s lowliest performers. The Kings are second to last place in the 15-team Western Conference with a 23-56 record at presstime. Overall, they are ranked 26th of 30 teams. Coach Paul Westphal’s lineup isn’t exactly the most exciting or explosive in the league although there are some pieces worth mentioning, like 6-11 rookie DeMarcus Cousins, 6-9 Omri Casspi of Israel, 6-6 Tyreke Evans and 6-4 Marcus Thornton. But it’s not likely that the Kings can make waves with Francisco Garcia of the Dominican Reublic, Beno Udrih of Slovenia, Sam Dalembert of Haiti and veteran Marquis Daniels.
Mayor Johnson is supposedly upbeat on the possibility of a Filipino taking over the Kings franchise. No other Asian was offered team ownership, placing the Filipino businessman in an elite short list.
Imagine a Filipino businessman rubbing elbows in an NBA team owners meeting with Buss, Russian billionaire Mikhail Prokhorov of the New Jersey Nets, Jerry Reinsdorf of the Chicago Bulls, Donald Sterling of the Los Angeles Clippers, Mark Cuban of the Dallas Mavericks, Micky Arison of the Miami Heat (where Julio Iglesias is a minority owner) and Michael Jordan of the Charlotte Bobcats.
If the Filipino ownership pushes through, perhaps the franchise can bring in the first and only Filipino-American to play in the NBA - Raymond Townsend who suited up for the Warriors and the Indiana Pacers - to join the front office even in an honorary capacity. Then, the team can hire Fil-Am coach Erik Spoelstra from Miami and enlist the first pure-blooded Filipino ever to play in the NBA - maybe, Jimmy Alapag or James Yap or L. A. Tenorio.
We can dream, can’t we?
PS:If this rumour is true, we can finally penetrate the NBA and it's gonna be easy for the Pinoy Hoops player to enter the biggest basketball league in the world. Not only that, we can give our fellow Asian players to play for this team(so far, the only Asian player in Kings franchise is Omri Casspi of Israel, if you consider him as an Asian. Lol.). Now that the Kings are out of the play-offs, if the deal pushed through, the whole coaching staff will be replaced by the current corps of coaches from Samahang Basketball ng Pilipinas. They might use the system of Serbian coach Rajko Toroman.
Here's the current roster of Sacramento Kings:
Roster
Sacramento Kings roster | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Players | Coaches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
And here are the companies that Mr. Manny V. Pangilinan owns and manages:
Company Ownership
| Company | Position | Share | President/CEO |
|---|---|---|---|
| PLDT | 100% | Napoleon L. Nazareno | |
| Associated Broadcasting Company (TV5) | Chairman | MediaQuest Holdings, Inc.100% | Ray C. Espinosa |
| Smart Communications | Chairman | 100% | Napoleon L. Nazareno |
| ePLDT Ventus Inc. | Chairman | 100% | Ray C. Espinosa |
| Meralco | President and CEO | PLDT 26.7% MPIC/PilTel Group total 40% above | |
| Stradcom International Holdings Inc. | Chairman | ePLDT 9.5%=172.8 million [9] | |
| Cure Inc. (Connectivity Unlimited Resource Enterprise, Inc.)(RED MOBILE) | Chairman | 100% | Eric O. Recto |
| San Beda College | Chairman Board Of Trustees | Fr. Aloysius Maranan, OSB, | |
| First Pacific Company Ltd.[10] | Chairman | ||
| Cignal Digital TV | Chairman | MediaQuest Holdings, Inc. | |
| Pilipino Telecommunication Corporation (Piltel) (TALK N' TEXT) | Chairman | Smart Tel. 99.50% | Napoleon L. Nazareno |
| First Pacific Tollways Corporation | Chairman | Metro Pacific Investments Corporation | |
| Metro Pacific Investments Corporation | Chairman | ||
| Manila Metro Rail Transit System | |||
| Digitel |
When the leading dailies in the Philippines published this news feed, it became a hot topic on Twitter, IBN and Pex Forums. Most of the netizens and Pinoy basketball fans got pumped up with this news, some are criticizing the news articles. The critics are claiming that it's just a hoax, but the question is; if is this a hoax, how come the sports analysts agreed with this would-be scenario? But if I were Mr. MVP, I must think about it first. It's not easy to operate an NBA franchise. The salaries of the NBA players are waaaaaaayyyyy bigger than the PBA players. It's going to be a big risk, but it's worth a try. After all, owning an NBA franchise will be easy for MVP's company to market its products and companies in the US.
Twitter:http://twitter.com/#!/saved-search/sacramento%20kings
IBN Philippines Forums:http://forums.interbasket.net/f32/rumor-mvps-planning-to-buy-a-16247/
Latest Update:
Kings finale could also be last game in Sacramento
SACRAMENTO, Calif. (AP) -- Some will cry. Others will protest. There will be signs of support and banners expressing anger. And in the end, no matter the score, everyone will say goodbye.
Maybe for the last time.
The deadline so many fans here have dreaded finally arrives Wednesday night when the Kings host the rival Los Angeles Lakers in what might be the final game in Sacramento. With the Kings mulling a move to Anaheim, "Fan Appreciation Night" suddenly feels like farewell.
"It's going to be a basketball funeral," said Robert Crashner, a Kings season-ticket holder for almost a decade. "Unless a miracle happens, I guess it's going to be over."
The outlook in California's capital city certainly seems gloomy.
Kings fans, most already talking about their team in the past tense, are still organizing for what will surely be an exhausting regular-season finale. Social-networking efforts have sprouted up and a sellout crowd is expected, with everything from a sit-in afterward to a boycott beforehand among the possibilities planned.
Signs reading "Save Our Kings" and billboards across town plastered "It's Not Over" have been the widespread themes thus far, and there will surely be countless posters - maybe even a few cowbells - at the finale.
For most, the Lakers game offers a chance to vent any feelings - frustration, anger, joy, whatever - one last time.
"It's a Hail Mary pass, it's the bottom of the ninth, it's the 15th round, whatever sports analogy you want to use," said Carmichael Dave, a Sacramento sports-talk host who helped form the group "Here We Build," a grass roots initiative aimed at raising funds for a new arena.
"We're going down with a fight."
Hours after the final buzzer sounds, the NBA Board of Governors will begin meeting a continent away in New York to start deciding Sacramento's basketball fate.
Kings owners Joe and Gavin Maloof, who are not expected to attend the season finale, are scheduled to make a pitch to fellow owners to move the franchise to Anaheim next season, and Sacramento Mayor Kevin Johnson - a former NBA All-Star - also will attend the meeting to plead the city's case to keep the franchise.
The Maloofs have until Monday to officially file for permission to relocate, and a vote would likely come within weeks of that request. All that's required is approval by a simple majority of the owners, and no NBA team has ever been denied permission to move in the 27 years under Commissioner David Stern.
The only thing guaranteed for Sacramento is 48 more minutes of professional basketball.
"The not knowing part - it stinks," Kings forward Donte Greene said. "I don't know what I'm going to do if we leave. I know the fans are going to be hurt, and I feel for them."
Only a few years ago this scenario wouldn't have seemed possible.
Sacramento was a thriving NBA franchise that produced sellout streaks of 497 and 354 straight games. The building formerly known as Arco Arena provided one of the most notorious home-court advantages in the league, a place where fans clanked cowbells so loud opposing coaches and players pleaded to have the noisemakers banned.
The Kings won an NBA-best 61 games in the 2001-02 season behind Chris Webber and Vlade Divac, losing to the eventual champion Lakers in the Western Conference finals at home in a decisive Game 7.
"This was a special city when I was here," said Rick Adelman, the coach of those memorable Kings teams. "The fans were incredible. It would be sad to see them leave. It is hard for me to believe there won't be a team in Sacramento."
Sacramento, with budget deficits and heavy job losses during the economic downturn, has turned down initiatives for years to contribute public dollars to replace or upgrade the aging arena. The Kings have steadily declined, and so has fan interest.
So the Maloofs began exploring other options.
Anaheim's Honda Center in Orange County offers high-priced corporate sponsors the Central Valley can't match and an NBA-ready arena with more luxury suites and improved sightlines, perhaps outweighing the downside of competing with the Lakers and Los Angeles Clippers in the same market.
Anaheim's City Council already has issued the bonds needed to entice the Kings to move, new federal trademark names - Anaheim Royals, among them - have been requested and about everything else to move the franchise is in motion.
Still, some Kings fans hold out hope that maybe, just maybe, it will all fall apart.
"When I walk out after the season finale, I have to believe it's not over," Crashner said. "If I didn't, it would be too sad to ever leave."
Another latest update:
source: Joaquin Henson | philstar.com
Two US-based female brokers – one a Filipina marketing specialist from Cincinnati and the other an American financial analyst with an investment bank
– are negotiating a deal for a group led by PLDT chairman Manny V. Pangilinan to take over majority control of the struggling NBA franchise Sacramento Kings.
The brokers were in Manila two weeks ago to confer with Pangilinan on an offer to buy up to 80 percent of the team owned by the Maloof family. Pangilinan was reportedly with Maynilad president Ricky Vargas, MVP Sports Foundation president and Meralco senior vice president Al Panlilio, Maynilad senior vice president Patrick Gregorio and Talk ‘N’ Text coach Chot Reyes when he met the brokers at the PLDT building in Makati.
A source close to the brokers said the amount of $250 million was mentioned as “a possible opening bid to get the ball rolling.” It was not certain if the Maloofs, saddled in debt, knew the brokers would approach a Filipino group but the source said Sacramento City Mayor Kevin Johnson was aware.
“Mayor Johnson even remarked that Sacramento and Manila are sister cities,” said the source. “He wants to keep the team in Sacramento because there is a move to relocate it to Anaheim. Mayor Johnson hopes to lead a drive to put up a new state-of-the-art coliseum for the Kings. He’s excited about the possibility of a Filipino group owning the franchise.”
The source added that the team owner of another California NBA franchise was informed of the approach to the Filipino group and expressed support. “In fact, he even asked if the Filipino group could send a letter of intent to buy the franchise to the NBA in time for the Board of Governors meeting,” said the source. However, no letter of intent was given.
The NBA Board of Governors meeting started yesterday and will end today (US time) in New York. The Maloofs were given a deadline of up to Monday to request the NBA for approval to relocate to Anaheim. Mayor Johnson was scheduled to attend the Board meeting and make a pitch to save the Sacramento franchise. Several groups, including one linked to former Kings star Chris Webber, have indicated support for Mayor Johnson’s campaign.
The source said 20 percent of the franchise has been offered to a New York investment group. He added that the two brokers are receiving vital information on basketball operations from an NBA assistant coach and a former NBA player who is the shooting instructor of an NBA superstar.
“Mr. Pangilinan was even invited to watch the Los Angeles Lakers-Oklahoma City game in Los Angeles last Sunday,” said the source. “We were told that Lakers owner Dr. Jerry Buss wanted to meet Mr. Pangilinan although that wasn’t confirmed. We were also informed that Dallas Mavericks owner Mark Cuban would support the move to keep the Kings in Sacramento.”
Whether the Maloofs will sell the franchise or not if it relocates to Anaheim is a question mark. At the moment, the Maloofs owe the Sacramento City government $77 million to operate the Kings franchise which reportedly absorbs a loss of $25 to $28 million a year.
The source said that while Pangilinan may be interested in considering the offer, he has other business priorities to tackle. “It’s no joke buying an NBA franchise,” said the source. “It may not happen in the near future but who knows? So far, no lawyers have been assigned to look into the offer.”
Another source close to Pangilinan said yesterday there are no developments regarding the offer.
“We were told that the NBA wants to invite Mr. Pangilinan for a meeting just to talk, know the NBA better and chat with commissioner David Stern,” said the source. “The things for consideration in owning an NBA team are absentee ownership, not too keen on being a part of a stadium construction, viability of the team and compelling justification linking the acquisition to the business.”
2nd PS:Some of the critics are insisting that the supposed selling of Sacramento Kings to a certain Filipino businessman is just a hoax. Well, how come the Filipino and Asian Communities in California are so upbeat about the would-be opportunity of having an Asian-controlled NBA franchise? Just a thought though. Lol.
Latest Update:
MVP not rushing to buy Kings
By WAYLON GALVEZ
May 14, 2011, 1:33am
MANILA, Philippines — If plans push through for telecommunication tycoon Manny V. Pangilinan to join the Sacramento Kings, it will not happen in the coming NBA Season of 2011-2012, but in the next two or three years.A reliable source said that while there is “serious interest” in taking over the struggling franchise, Pangilinan may have to wait since the team’s owner – the Maloof family which has 80 percent share – had reportedly agreed to stay in Sacramento.
The Maloofs reportedly tried to relocate the Kings to Anaheim, California, but Sacramento Mayor Kevin Johnson, a former NBA player, was able to convince the owners to stay for one more season as they try to gather their resources to build a new arena.
This is where Pangilinan, who owns various businesses in the country and in Hong Kong, will probably come in to help the city of Sacramento keep the Kings.
Pangilinan’s group is currently in San Francisco to attend several business meetings, as well as watch exhibition games of Ateneo and San Beda College.
While meeting Johnson is not part of their schedule, the source said that a meeting could take place if the city Mayor will arrange it for the group to discuss the possibility of Pangilinan joining the NBA team in the future.
“We didn’t come here for that (meeting with Johnson),” said the source who asked not to be named. “But if they’d like to talk to us, then probably we can meet them. It’s them who want us, not the other way around.”
The source also said that if ever Pangilinan agrees to join Sacramento’s NBA team, it’s likely to happen in 2012-2013 Season, saying: “I doubt if this will be next season since the Maloofs have decided to stay in Sacramento.”
Pangilinan’s group will travel to Hong Kong on May 19 to attend a big anniversary celebration of the First Pacific Company on May 20.
Meanwhile, Talk ’N Text coach Chot Reyes said yesterday that there’s a possibility for guard Jimmy Alapag and forward Kelly Williams to play a couple of games for the Tropang Texters in the Governor’s Cup since they want to help TNT win the coveted “Grand Slam.”
TNT will start its Governor’s Cup campaign with back-to-back games in Dubai against Ginebra on June 2 and B-Meg on June 3.
Alapag and Williams were named by Smart-Gilas Pilipinas Serbian mentor Rajko Toroman together with Asi Taulava of Meralco and Dondon Hontiveros of Air21 to reinforce the national team in the FIBA-Asia Championship in September in Wuhan, China.
But Alapag and Williams will join the team after the FIBA-Asia Championship.
Meantime, Alaska has traded rookie forward Elmer Espiritu – its No. 4 overall pick in last year’s PBA Rookie Draft – to Air21 for veteran wingman Wesley Gonzales. The deal is up for approval by PBA Commissioner Chito Salud.
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