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Post by jhendrix70 on Mar 31, 2011 12:28:43 GMT -5
** Note: These Bonds Sold Overnight. Reference for those wonder how long it takes to sell Bonds **
Anaheim City Council approves bond measure to help Sacramento Kings move to Honda Center
March 29, 2011
The Anaheim City Council on Tuesday unanimously approved $75 million in privately backed bonds to "clear the path" for the NBA's Sacramento Kings' move to make the Honda Center their new home.
The bonds will be backed by three companies of Anaheim Ducks' owner Henry Samueli, and will be used to pay relocation fees the Kings will need to pay the NBA, along with improvements to the Honda Center, including NBA locker rooms and a practice facility in the city.
Anaheim Mayor Tom Tait called the meeting "historic" at its opening, adding, "it's a great day," for the city.
Tait said he was "thrilled" and "stoked" by the council's action, and council member Harry Sidhu said an NBA team's arrival will be "a great economic engine for all of us."
We'll have more on this later tonight at latimes.com/sports.
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Post by hui43210 on Mar 31, 2011 12:38:51 GMT -5
meanwhile in gongdale, bonds "claim" to be at 50% after 4 months.
ps I dont care very much about the nba, but i think this is sad and feel very sorry for sacramento, Its thier only major team. I mean thats 3 teams in the LA area the gready basterds, are you not happy with the lakers? I gess the clippers off-set it all.
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Post by gilligan on Mar 31, 2011 12:55:37 GMT -5
meanwhile in gongdale, bonds "claim" to be at 50% after 4 months. ps I dont care very much about the nba, but i think this is sad and feel very sorry for sacramento, Its thier only major team. I mean thats 3 teams in the LA area the gready basterds, are you not happy with the lakers? I gess the clippers off-set it all. Maybe Sacramento should try to steal the Clippers if this goes through. Though I think the Staples Centre loves having them as tennants. |
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Post by Hobble on Mar 31, 2011 13:00:38 GMT -5
Privately backed bonds are more attractive than public bonds at 9% interest and threat of lawsuit, I imagine...
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Post by tim on Mar 31, 2011 13:10:08 GMT -5
Mayor Scruggs will be on this artical like a fat kid on a Smartie.
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Post by canadiensfan on Mar 31, 2011 14:46:43 GMT -5
My question is why wasn't the ARCO Arena/Power Balance Pavilion built to last more than 22 years? That's a pretty sad lifespan for an arena when you think about it. It is sad to see the Kings leave Sacramento, as I believe that the Maloof's could have handled this situation better. That being said, 3 teams in the Los Angeles area is a bit much, to say the least. One would think that Seattle, Kansas City, Cincinnati or even another team in Chicago would be better than moving them down to Los Angeles. They already have one mediocre basketball team, another one is not going to do them any good. In one word: oversaturation
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Post by jetsorbust on Mar 31, 2011 14:48:37 GMT -5
My question is why wasn't the ARCO Arena/Power Balance Pavilion built to last more than 22 years? That's a pretty sad lifespan for an arena when you think about it. It is sad to see the Kings leave Sacramento, as I believe that the Maloof's could have handled this situation better. That being said, 3 teams in the Los Angeles area is a bit much, to say the least. One would think that Seattle, Kansas City, Cincinnati or even another team in Chicago would be better than moving them down to Los Angeles. They already have one mediocre basketball team, another one is not going to do them any good. In one word: oversaturation To be fair, I consider having the Raptors (1 team) to be an oversaturation of the Canadian basketball market...  (To be clear, I'm saying basketball sucks!) |
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Post by subwayscoundrel on Apr 4, 2011 8:53:12 GMT -5
My question is why wasn't the ARCO Arena/Power Balance Pavilion built to last more than 22 years? That's a pretty sad lifespan for an arena when you think about it. It is sad to see the Kings leave Sacramento, as I believe that the Maloof's could have handled this situation better. That being said, 3 teams in the Los Angeles area is a bit much, to say the least. One would think that Seattle, Kansas City, Cincinnati or even another team in Chicago would be better than moving them down to Los Angeles. They already have one mediocre basketball team, another one is not going to do them any good. In one word: oversaturation Arco arena was built in the odd time where arenas were not planned with many suites. Power Balance/Arco (as it is called now) only has 30 suites. As players salaries go up, new rev sources have to be created and arenas get old. Especially at the time PB/Arco was built. Take the case of the Charlotte Coliseum and the Hornets which was built at the same time. Even though the CC had suites, they were nothing like the suites of today. It was built in 1988 and torn down in 2007. 19 years of service. Then they build Time Warner/Bobcats arena with more modern features. Also, Orange county is not LA. It takes an hour and half to get to Anaheim from LA if you are lucky. People just don't drive to Anaheim or vice versa, especially for a weekday game. You barely drive to DT LA if you live in LA. To me personally, LA has the worst traffic with Atlanta 2nd. What takes 15 minutes in most cities takes 45 min to an hour in LA. LA, to me, is the most unbearable city to drive and what creates self-sufficient cities like Anaheim, therefore, their own sports teams. JMHO |
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Post by mrconfusion87 on Apr 4, 2011 20:12:51 GMT -5
Isn't that going to cause confusion for LA residents? They already have the LA Kings, now the Sac-town Kings?
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Post by canadiensfan on Apr 5, 2011 6:16:38 GMT -5
Isn't that going to cause confusion for LA residents? They already have the LA Kings, now the Sac-town Kings? They're renaming them the Royals, which is what they were called in the first place, but they changed it when they moved to Kansas City because the baseball team was already there. |
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