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X-rays taken yesterday at the UC Davis Sports Medicine Clinic revealed that Sacramento Kings forward Jason Thompson has a non-displaced sesamoid bone fracture in his right great toe. He will wear a walking boot for approximately four to six weeks, at which time Thompson will be re-evaluated.
Thompson, a three-year NBA veteran, averaged 8.8 points (.507 FGs, .605 FTs), 6.1 rebounds and 1.2 assists per game through 75 contests, of which he started 39 this past season for the Kings.
With economic troubles across the United States (and around much of the world) over the last several years, the city of Las Vegas has been hit especially hard. A vacation to a hotel casino is a luxury, not a necessity.
And now, the Maloofs have had to take a major step with their famous Palms casino:
Dale Kasler of the Sacramento Bee reports:
The owners of the Sacramento Kings have surrendered controlling interest in their Las Vegas casino, in a deal that they say improves their finances considerably.
After months of negotiations, the Maloof family announced Tuesday that it has reached a “recapitalization” agreement with the Palms Casino’s main creditors, investment firms TPG Capital and Leonard Green & Partners.
Co-owner George Maloof said the deal erases the Palms’ debt but leaves the family, which built the trendy casino a decade ago, with less than 50 percent of the equity. That gives controlling interest to TPG and Green.
But Maloof, who enjoys a high profile in Las Vegas, said he will continue to run the Palms. He said “it’s not disappointing at all” that controlling interest has passed to the creditors.
The deal could have significant implications for the Kings at a crucial time in the team’s history. The Kings passed up an opportunity last month to move to Anaheim, agreeing to give Sacramento a last chance to build a new arena. City officials and the NBA expect the Maloofs to contribute to the project, but the amount remains to be seen…
Brian Gordon of Applied Analysis, a Las Vegas financial consulting firm, said several casinos have had to restructure their debts in the past year or so. Typically, the creditors wind up owning a stake in the casino, he said.
I’m a fan of the Palms. They have some of the best bars/clubs in Vegas.
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The Sacramento Kings today requested waivers on guard Jermaine Taylor, according to Kings’ President of Basketball Operations Geoff Petrie.
Taylor averaged 7.1 points (.476 FGs, .300 3FGs, .727 FTs) in 26 games (started eight) with Sacramento.
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The Sacramento Kings today extended a qualifying offer to Marcus Thornton, making him a restricted free agent, according to Kings’ President of Basketball Operations Geoff Petrie.
Thornton, a two-year NBA veteran, averaged 21.3 points (.450 FGs, .361 3FGs, .805 FTs), 4.7 rebounds, 3.4 assists and 1.67 steals per game through 27 outings with the Kings last season, of which he started 23. He was acquired by Sacramento along with cash considerations from New Orleans on February 23, 2011, in exchange for Carl Landry.
In accordance with the league’s collective bargaining agreement, in order for a team to retain its right of first refusal with respect to a restricted free agent, the team must tender the player a qualifying offer prior to June 30. A restricted free agent may sign an offer sheet with any team, but is subject to a right of first refusal with the team for which the player last played.
The AP reports:
“It’s an odd position, when the game is the best it’s ever been, when the ratings are the highest they’ve ever been, when the excitement is the greatest it’s ever (been),” Players Association attorney Jeffrey Kessler said last week. “It’s sort of odd to see the owners say we’re going to destroy this game unless you change this whole system. Players just want to play.”
Nobody can predict when they’ll get that chance again. When the Dallas Mavericks finished off the Miami Heat on Sunday night in Game 6, it sent the NBA into a most uncertain offseason.
Owners and players are nowhere close on a new collective bargaining agreement to replace the one that expires June 30. Without a new deal, players say they have been told by the owners they will be locked out.
The NBA was reduced to a 50-game season by a work stoppage in 1998-99, and the loss of games is a threat now. Citing leaguewide losses of about $300 million this season, the league hasn’t budged on its desire for significant changes to the financial structure, ranging from reductions in the length of contracts and the amount of guarantees, to an overhaul of the salary cap system that would prevent teams from being able to exceed it, as they can now under certain exceptions.
And Stern said the record TV ratings and all the other positive attention the league has received doesn’t make him any more motivated to get this settled, since he’d want to do it anyway.
“I don’t need any external prod to want to be able to make a deal,” he said…
The sides are scheduled to meet twice this week and say they hope for frequent discussions before the end of the month. Should those fail, the NBA could follow the NFL’s labor situation right into the court system, which both sides say they want to avoid. So although a work stoppage in July wouldn’t seem to have much effect since games aren’t going on, Stern insists “we very much feel the weight of the deadline.”
Tony Bizjak of the Sacramento Bee reports:
Sacramento Kings co-owner George Maloof said Wednesday he has agreed to make team financial data available to a city-commissioned group studying ways to finance a new sports and entertainment facility.
That group, headed by national arena builder ICON Venue Group and downtown Sacramento developer David Taylor, is due to present an arena feasibility study to the City Council on May 26.
Team officials previously refused to provide business data for the study.
The following is a statement released Monday from Maloof Sports and Entertainment, who own the Sacramento Kings:
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“Out of respect to Kings fans and the regional business community, we have decided to remain in Sacramento for the 2011-12 season. The fans’ spirit and energy, specifically our season ticket holders, has been remarkable and we are truly thankful for their loyalty. We also are greatly appreciative of the support from our corporate sponsors as well as other local businesses that have come forward in recent weeks.
Additionally, we would like to take this opportunity to send a heartfelt thank you to the loyal and hardworking team members within our organization. From the game night staff to the front office, coaches, and players, we are grateful for their professionalism and devotion.
During this process, Mayor Johnson has strongly indicated to both the community and the NBA that he is capable of getting the support to build a state-of-the-art entertainment and sports facility that the Sacramento Region and the tremendous Kings fans so rightly deserve. We look forward to seeing Mayor Johnson bring his vision to reality. However, if an arena plan cannot be finalized in a timely fashion, the NBA¹s relocation committee has assured Maloof Sports and Entertainment that it will support an application to move the franchise to another market starting in 2012-13.”
Read fan reaction and discuss your own opinion in this forum topic.
The Kings are in a tough situation. Things are not ideal for them in Sacramento because they need a new arena, but the leading candidate to land the team if they move, the city of Anaheim, is not the best spot either because it’s fairly close to Los Angeles, and it’s unclear that fans there would sell out NBA games. (And there’s way more, but there’s your quick one-paragraph summary.)
An announcement is expected today, but early word is that the Kings may stay in Sacramento, at least for the upcoming season.
Randy Youngman of the Orange County Register reports:
It appears Anaheim and the city-owned Honda Center have been left at the altar again.
Despite months of negotiations with Anaheim arena officials that pushed the Sacramento Kings to the brink of relocating in Anaheim, the Maloof family has at least temporarily abandoned its plans to move to Orange County because of opposition to the move by the NBA.
Officials from Anaheim Arena Management, which had been in relocation negotiations with the Maloofs since September, were told of the family’s decision early Monday morning.
The NBA is expected to issue a statement Monday morning announcing that the franchise will remain in Sacramento and not submit an application to move by Monday’s twice-delayed relocation deadline. A statement from the Kings is expected to follow.
Note that this may just be temporary. The Kings may just remain in Sacramento next season while continuing to seek a new home for 2012-13 and the future.
Hit the InsideHoops.com front page later as official word is released about this.
Read fan reaction and discuss your own opinion in this forum topic.
It seems like the Sacramento Kings may eventually make the move to Anaheim, but there are plenty of signs that nothing is set in stone and it is at least somewhat possible the team stays where they are now.
Marcos Breton of the Sacramento Bee reports:
The United Auburn Indian Tribe has pledged $1 million to help keep the Kings in Sacramento, the tribe confirmed on Tuesday.
The investment is part of the $7 million that Mayor Kevin Johnson is raising from businesses in the Sacramento region as he attempts to demonstrate that the area can support an NBA franchise. The Kings are contemplating a move to Anaheim.
It’s still most likely that the team does wind up moving.
Jonathan Feigen of the Houston Chronicle reports:
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After four days of talks, some that were close to bringing Rick Adelman back as Rockets coach, Rockets general manager Daryl Morey called Adelman a “Hall of Fame coach.” He also showed Adelman the door. Adelman was happy to take it.
Adelman, who led the Rockets to their only playoff series win in the past 14 years and a franchise record 22-game winning streak, agreed to step down on Monday, a decision described as mutual.
“After numerous discussions and careful consideration with Coach Adelman, we have mutually agreed to part ways,” Morey said in a statement. “It has been a privilege and an honor to work with and learn from Rick during these past four years. He is a Hall of Fame coach who earned the respect and admiration of our entire organization during his time here.”
In four seasons with the Rockets, Adelman had a 193-135 record, the best winning percentage (.588) of any coach in franchise history. He moved to eighth in NBA history in career coaching wins with 945.
Read fan reaction and discuss your own opinion in this forum topic.