Maloof's Quietly Admit They Can't Afford The Kings

Tony Bizjak of the Sacramento Bee has been all over the relocation saga and again dropped a fantastic gem this morning where the Maloof’s finally admitted what we’ve all expected – they’re struggling financially.

The source said the Maloof family, which owns the team, held talks Wednesday with several top NBA officials, including members of the league’s relocation committee.

The Kings owners expressed appreciation for local businesses that have pledged $10 million in sponsorship support for next year, but also shared concerns about whether their finances can withstand several years of waiting for a new arena to be built, and whether Sacramento will be able to come up with an arena plan that is financially feasible, given past failures. NBA officials, in turn, told the Maloofs to stay in Sacramento.

The Kings were profitable last year. They’ve been profitable for some time. They’ve been given ten million dollars from local businesses in sponsorship money, a new ten million they didn’t have last year. Comcast has been very open about their willingness to renegotiate a television contract that would rival the expected Anaheim TV deal. And frankly, the product on the floor is getting better by the day – put a fun and energetic product on the hardwood (as they did when Evans returned from injury and Thornton was acquired) and the fans will show up. In short, the Maloof’s – they’re full of it. There is no reason to not stay in Sacramento, right now.

No, they can’t afford to be competitive in Sacramento without a new arena – yes, they can afford to stay in PBP until a new arena is built.

The NBA has no qualms about you staying in Sacramento, Maloof’s – that should tell you everything you need to know. That tells us, as fans, everything we need to know.

Sell the team, boys.

Thanks for the past decade plus – but all good things come to an end. Of course, you guys had to ruin any good feelings we had – but I’d be a sucker to think you actually care.

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Tags: Maloofs Relocation

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