Maloofs blast city, county

Remember: women and children out of the ship first…

The owners of the Sacramento Kings have sent out a letter blasting city and county leaders for taking the side of a developer who they say wants to renegotiate terms of a deal for a new arena.

The letter was sent to season ticket holders, other customers, team members and at least some city leaders.

Is anybody out there in Sac Rag land on that mailing list? We’d love to get a copy of that letter…

UPDATE: Thanks, “somebody else” for hooking us up so quickly (26 minutes). This thing is turning into a full blown fiasco. The timing of this is great, even if the city/county could react it wouldn’t be until the weekend. Wonder how they’ll distance themselves from this?

One thing, though: “For us, failure at the Railyards would mean everything.” I thought it just meant that they “may have to consider other options”?

Author: CoolDMZ

"X-ray vision to see in between / Where's my kimono and my time machine?"

3 thoughts on “Maloofs blast city, county”

  1. The Maloofs served it up right… the Kings and the pro-arena bunch never get equal time in the Bee.

    Here’s the letter.

    Dear Somebody,

    Thank you for all of your support as one of our most loyal and valuable customers. We want to share some facts with you directly.

    As you are no doubt aware, we successfully negotiated an agreement with the city and county this summer after many months of very hard work. One of the key elements of those successful negotiations was the promise from the city and county that we would go “arm-in-arm” to the developer of the Railyards in order to secure his agreement with the terms of our deal.

    We were surprised and disappointed in our three-way meeting with the developer last week. The developer refused to accept key deal terms we had negotiated, including basic points like the 8 1/2 acres needed for the arena based on the average of what has been done in Memphis, Charlotte, Houston and Indianapolis (the developer said he would only make 5 acres available) and parking for the events at the arena (the developer said that he would control all of the event parking for the general public). In order to get fans of all events comfortable with going downtown, we must make sure that they know there will be sufficient safe and available parking there.

    We expected our partners, the city and county, to have made it clear to the developer that they expected him to honor our arena agreement. Instead, the city and county negotiators agreed with the developer’s positions and began to renegotiate with us.

    We are not willing to renegotiate what we’ve already agreed upon.

    After 7-plus years in Sacramento, we believe we have demonstrated our commitment to the fans and the community ? the quality of the teams we’ve built, the $11 million we’ve donated to community charities, the countless civic and community events we’ve sponsored. It is disappointing that a developer whom we’ve never met and has no history here could demand that our agreement with the city and county be set aside and renegotiated. What angers us isn’t that the developer would try, but that our public partners would place his interests ahead of what they have already agreed to.

    This developer, like most, has deals going around the country. He hasn’t even closed escrow on the property to demonstrate his long-term commitment. We have agreed to a 30-year lease. For him, failure at the Railyards means very little. He can move on to his other projects. For us, failure at the Railyards would mean everything. We and Sacramento only have one chance at this.

    We’re the only ones involved in this process who have to live with the outcome for 30 years ? the developer will make his money in the first few years and be gone, the government officials will all be retired and gone, the reporters will all be retired and gone.

    Our family will still be here. So, we have to apply much longer term thinking to what gets built, what the deal terms are, and what a bad deal will mean to us for the rest of our lives ? when the economy goes bad, the impacts of shoddy development around the arena, the infrastructure that needs to be in place, etc. 15, 20 and 25 years from now, it will be our business that is affected, not the developer’s.

    The Bee editorialized on the importance of completing the MOU before people vote. They warn the public about “bait and switch” tactics.

    We agree. We will not be party to any arrangement where the public votes on one thing and ends up with something else. Who will the community blame ? a developer who has left town ? or us?

    We are very grateful for all of your support. Please do not hesitate to give us your feedback.

    Joe Maloof
    Gavin Maloof

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  2. Wow. What a bunch of crybabies. Call the whaaa-mbulance as said on last season’s survivor. When the ship sinks, the rats know where to jump I guess. It appears to me that the Maloofs only understand how to negotiate when everything is going their way. I think these boys are in a little over their precious over-privileged heads.

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  3. It took Weintraub to publish the financial arrangement and the Maloofs to state the facts and truth regarding the “deal.” What about the City/County? Zippo, unless you count Dangberg plowing under the Mandela Gardens for fat cat Developers and now this guy claims to speak for Sacramento? Sure the Urban Planning would be great with the scheme they presented to the Maloofs, but the Maloofs are not in the City Planning Urban Design Business nor does it appear they are going to fund it either. Try the Portland Jailblazers, Paul Allen’s Arena went bust and he walked away and you can have the Jailblazers on the cheap

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