Joe Maloof said some stunning things in his Q&A with Ailene Voisin. (She asked really tough questions. Kudos on that. No punches pulled.) He explained the brothers’ decision to celebrate with Kevin Johnson at center court in the now infamous photo as a reluctance to embarrass the mayor. He said the family has "tremendous family wealth," citing their Wells Fargo stock. (Assuming they haven’t sold any, that’s all worth about $300 million. Assuming that the proceeds from the sale of the New Mexican beer distributorship went toward Palms debt, it’s safe to say that the Maloofs would be rejected by the NBA if they now tried to buy a team. Let’s also not forget that they owe the city $68 million and the NBA’s credit facility up to $100 million, and they now have little in the way of revenue sources outside of those small Wells Fargo dividends. He said the Kings are profitable, which is stunning.)
But the line he uttered that needs to be in bright lights for the next year is this one:
Q: So what’s different a year later? A lot of people still suspect your plan is to spend next season in Sacramento and then file for relocation in March.
A: That’s not true, that’s not true. I swear that is not going to happen. I don’t care what rumors are out there. It’s our team. We’re not selling, and we’re not leaving. Our identity is the Sacramento Kings. That’s how we’re known.
There is no wiggle room in that statement. None at all. Now if only the family had any trustworthiness left at all.
http://www.sactownroyalty.com/2012/4/15/2950105/joe-maloof-sacramento-kings-relocation-arena?ref=yahoo
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