Sacramento franchise offered to MVP

[Motownkid]

250 million dollars is 1 billion something in pesos.

You're about 9 billion pesos short bai, alkansehon kas bangko! Hehe

250 million x 43 = 10,750,000,000

[ironman]

not a good deal for MVP... FAQ is right, you buy a sports team for anything but profit.

[slakker]

ang mga ekal siguro ang gi-apas ni MVP...

[skadiboy]

from inquirer

No meeting with Kevin Johnson, but MVP eyeing Kings investment with Chris help
By Percy D. Della in Sacramento, Ronnie Nathanielsz in Manila
11:28 pm | Wednesday, May 18th, 2011

SACRAMENTO, CALIFORNIA—Mayor Kevin Johnson is not scheduled to meet with Filipino telecommunications tycoon Manny V. Pangilinan this week or anytime soon, the mayor’s office said Wednesday.
But even as this developed, reports from the group of the Smart-PLDT chief said the lcoal government of Sacramento is urging the magnate to help in keeping the Kings in the area.
Pangilinan is in Sacramento, a trip that spawned rumors that the businessman is buying into the Kings. He was earlier reported to have a meeting with Johnson, one scuttled by a conflict of schedules.
“No such meeting has been planned,” said mayoral special assistant R. E. Graswich, after he was briefed about news stories from two leading Manila newspapers that a Johnson-MVP meeting was to take place to discuss a possible purchase of Kings’ stakes.
“I am sure Mr. Pangilinan is a fine gentleman,” he said, but Graswich suggested that the wealthy Filipino businessman should be talking to the team owners instead.
As of this writing, Pangilinan was in California for business and pleasure. He is accompanied by top executives of the Samahang Basketbol ng Pilipinas and coaches of two of his teams in the Philippine Basketball Association.
Mayor Johnson himself was in New York today to represent the Kings in the NBA draft lottery. His trip to the Big Apple was the only entry in his public calendar for Tuesday.
Pangilinan and his group have confirmed meeting with former NBA All-Star Chris Webber in Sacramento to discuss possible involvement with the Kings.
“Upon the encouragement of the City of Sacramento we met today, 17th May in Sacramento with Chris Webber and others,” read a statement from the Pangilinan group.
Webber has an investment company that is reportedly committed to building a new arena to keep the Kings in Sacramento for the long-term.
Graswich, a Sacramento Bee sports columnist before joining Johnson’s staff, expressed surprise and apparently was not well-versed about Pagilinan’s reported overture to buy the Kings for a price tag of up to $260 million from the Maloof family.
“I don’t know who’s buying out who, but if I were the buyer, I would need to know what I am buying and the only way to know that is to talk to the owners,” said Graswich.
The Maloof family, which owns the Kings, have staved off moves to buy the Kings and have steadily maintained their public stance that the team is not for sale and never will be.
Ron Burkle, a Southern California billionaire, emerged also as a potential buyer when the Kings were on the verge of moving to Anaheim. He was reportedly keen on purchasing the team and keeping it in Sacramento—only to be rejected by the Maloofs, who said they plan to hold onto their interests in the team.
Kings co-owner Joe Maloof was the most blunt about other buyout talks, including that of Pangilinan. When the reported meeting between Kings representatives and Pangilinan saw print via the Sacramento Bee sports blog last month, Joe, without skipping a beat said the entire matter was “ridiculous.”
Other investment opportunities can be explored in the concerted effort to keep Sacramento a viable NBA market, said Graswich. But again only the team’s owners have first hand knowledge about such things, he said.
Pangilinan also said in his statement that his purpose for meeting with Webber “was to explore the possibility of forming an investors group which may be interested in investing in the Sacramento Kings.”
The top honcho of PLDT-Smart and president of the Samahang Basketbol ng Pilipinas said that “while the Maloofs (current owners of the Kings) have committed to keeping the Sacramento Kings in Sacramento for one more season the city government is looking for ways to keep the Kings.”
Pangilinan added that “for reasons of confidentiality, this is all that can be disclosed at this time. In any event if the investment materializes, private not corporate funds will be deployed.”
The decision by the Maloof family to keep their team in Sacramento rather than apply for relocation to Anaheim, Calif., is only temporary. Joe Maloof and NBA Commissioner David Stern have made it clear that the team will leave after next season if an arena plan is not in place.

[skadiboy]

MVP wants control of Sacramento Kings
By Paolo G. Montecillo
11:13 pm | Monday, May 23rd, 2011

HONG KONG—Businessman-sportsman Manny V. Pangilinan wants a majority stake if he finally decides to accept an offer to join a group of investors that will take over the struggling Sacramento Kings in the NBA.
“I have to admit, the idea is very titillating,” Pangilinan said during a recent briefing where he confirmed rumors that he had been invited to help keep alive the franchise of the financially strapped Kings.
As he does with most of his business ventures, however, he said he would not settle for being a passive investor.
“If we proceed, we’ll be seeking a majority stake,” said Pangilinan, who owns the Talk ‘N Text Tropang Texters and the Meralco Bolts in the Philippine Basketball Association and heads the Samahang Basketbol ng Pilipinas, the governing body in amateur basketball.
“Whether we do it or not, it’s a great idea for a Filipino group to own an NBA team,” he said, adding that this would eventually open up the doors to having Filipino players or team coaches.
“It’s a great tribute to the country,” added Pangilinan, who was in Hong Kong to launch the new PLDT Global services for overseas Filipinos.
He said the group of investors was organized by retired former NBA All-Star Chris Webber, who was part of the Kings from 1998 to 2005.
Webber met with Pangilinan, chair of the Philippine Long Distance Telephone Company—among other firms—during a recent trip to Sacramento, where he visited the Kings’ home stadium, the Arco Arena.
He said he would need to invest between $200 million and $260 million for a stake in the Kings, and that this would be done in his personal capacity.
“That’s the ballpark figure [involved],” Pangilinan said.
If a deal pushes through, this will make him the first Asian to control an NBA franchise.
From one of the best teams in the NBA from 2001 to 2003, the Kings slowly lost their vaunted strength, and earlier this year failed to make it into the NBA playoffs.
The Kings have been suffering from financial losses in the past few years due to the team’s relatively poor performance.
The team is owned by the group of California businessman George Maloof Sr., which, due to its interests in US real estate, has had its own money troubles.

from inquirer..


wow big time MVP

[k-bai]

wow., f madayon nga c MVP na ang owner sa Kings., daku na au ug chances ang mga Pinoy nga ma NBA..

[endlessknight]

If he does acquire part ownership of the club, then good for him. This, however, doesn't automatically mean that a Filipino will be playing in the NBA. I don't think that we have a player at the present who can make it to the cut.

[thadzonline]

publicity? Kevin Johnson and the Maloofs in a feud? KJ wants the Kings to stay, the Maloofs want em moved to Anaheim..let's see what happens

[endlessknight]

The Kings will stay in Sacramento, at least for now. But what about next year? With the city unable to raise funding for a new stadium, they can't keep the Kings.

[thadzonline]

and a possible lockout? They got more time to think I guess lol