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Sacramento Kings rumor mill


panthers_2012

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Press conference in 3 hours announcing the Virginia Beach Arena plan. And supposedly there have been talks with the Maloofs either directly or through Comcast under the table for several months now aiming to make this a reality.

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Or at the very least the Maloofs are making it look like that to gain leverage to make one of these a reality depending on whether they want to retain ownership or not.

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Regarding that first one, it could be a cool double entendre...either be the "Virginia Beach" Kings or Virginia "Beach Kings".

Either way...if this Hampton Roads thing goes through, the ONLY acceptable name (legal issues permitting, of course), would be "Virginia Squires". Don't try to run from it, don't try to deny it?just accept it and embrace it.

And plus...think of all the MERCH they could sell!!! :P

*Disclaimer: I am not an authoritative expert on stuff...I just do a lot of reading and research and keep in close connect with a bunch of people who are authoritative experts on stuff. 😁

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Field of Schemes:

The awesomely call-lettered Virginia Beach TV station WAVY has another report on that city?s arena plans today, though pretty much all of it is just he-said-she-said on who likes the idea and who doesn?t. There is, however, one interesting tidbit from Mayor Will Sessoms:

?I would look for help from the Commonwealth, from special tax districts at the oceanfront, perhaps an increase on the tax on hotel rooms and ticket sale revenues which could be huge,? Sessoms said.

This is the most specific that anyone has gotten about how on earth this $275-400 million arena would be paid for, and indicates that when Sessoms said that ?revenue generated by the arena? would help pay for the place, he at least in part meant a TIF district to kick back arena taxes to pay for construction. Add in hotel taxes and ?help from the Commonwealth? (aka state subsidies), and there?s really no telling how much of a taxpayer subsidy we could be looking at here

oh yay more TIF districts, those are always awesome and never do things like divert tax revenue from schools, or fail to be developed enough for the projected property tax increases to come through (especially when the arena will most likely be owned by the city while being operated by corporations thus generating no property taxes in the first place)

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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Has anyone else noticed the Kings haven't even had an operable online store to buy merch since June 15?

You beat me by a few minutes, but yes, I just saw the article.

http://sacramento.cbslocal.com/2012/08/27/fans-looking-for-kings-gear-cant-get-it-online/

the worst helmets design to me is the Jacksonville jaguars hamlets from 1995 to 2012 because you can't see the logo vary wall

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Has anyone else noticed the Kings haven't even had an operable online store to buy merch since June 15?

Sigh. Of course this would be happening only to the Kings.

Why do I get the feeling the Aloofs are behind this? I just miss having a competitive and relevant team.

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BEAR DOWN ARIZONA!

2013/14 Tanks Picks Champion

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TIF districts are scams. I've yet to hear about one that actually worked as planned.

Maybe they worked sufficiently when the economy was circulating money better than it is now, but they're pretty much all busts now. As it stands, too many things have to go right for them to go as planned.

Do you think they'd actually go with Virginia Beach as the location name, or just simply Virginia to draw from the whole metro area?

Well, if that's the case, they'd go by "Hampton Roads," but Virginia Beach would get butthurt because they're paying for it and not getting the recognition. If you called them "Virginia Beach," people in Norfolk would get mad because they're the traditional center of the region but aren't being included. I've gotten the impression that the component cities of Hampton Roads can't get together to solve a problem because they can't agree on a day to meet, and so that's why maybe it hasn't come along as far as it could have.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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120828042135_virginia-beach-arena-640.jpg

http://hamptonroads.com/2012/08/virginia-beach-council-hears-sports-arena-pitch

"The arena would host 200 events a year, with 1.4 million attendees, and would be up to 800,000 square feet, according to an announcement from the city?s development authority.

An economic impact study summary says it would cost $350 million and could open in 2014, with its first full year of operation in 2015. It says the facility would generate net new economic activity of more than $98 million and create 1,230 jobs."

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120828042135_virginia-beach-arena-640.jpg

http://hamptonroads....rts-arena-pitch

"The arena would host 200 events a year, with 1.4 million attendees, and would be up to 800,000 square feet, according to an announcement from the city's development authority.

An economic impact study summary says it would cost $350 million and could open in 2014, with its first full year of operation in 2015. It says the facility would generate net new economic activity of more than $98 million and create 1,230 jobs."

Note as in the new Seattle and San Francisco plans, that the 200 events/year tagline is what is typically needed to break even. And those events have to be revenue producing.

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I'd say Virginia would be the designation. "Virginia Beach" doesn't carry the weight that "Virginia" or even "Hampton Roads" does. Plus "Virginia Beach" just doesn't sound like the team wants to be taken seriously.

But most of Virginia's population lives nowhere near Hampton Roads. There are probably about twice as many people in Alexandria/Arlington/Washingsprawl as there are in Hampton Roads.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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I'd say Virginia would be the designation. "Virginia Beach" doesn't carry the weight that "Virginia" or even "Hampton Roads" does. Plus "Virginia Beach" just doesn't sound like the team wants to be taken seriously.

But the Maloofs don't want to be taken seriously. :P

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An economic impact study summary says it would cost $350 million and could open in 2014, with its first full year of operation in 2015.

What, you're going to start building it tomorrow? This would be done in late 2015 at the absolute earliest.

It says the facility would generate net new economic activity of more than $98 million and create 1,230 jobs.

part-time seasonal minimum-wage jobs, mostly.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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Really? Tell me more. I thought it was usually two years from groundbreaking to completion with 17,000+ multipurpose arenas. They haven't, to my knowledge, done any feasibility studies, secured the property, whatever else would have to be done before groundbreaking. This is all very preliminary to me. Maybe they'll break ground in two months, but I kind of doubt it.

♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫

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Really? Tell me more. I thought it was usually two years from groundbreaking to completion with 17,000+ multipurpose arenas. They haven't, to my knowledge, done any feasibility studies, secured the property, whatever else would have to be done before groundbreaking. This is all very preliminary to me. Maybe they'll break ground in two months, but I kind of doubt it.

'Mings' has the degree and can give more detail, but some stadiums are design build. Recent case in point is Nationals Park.

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