Arena: Notes, quotes and audio from Maloof press conference

Photo: Dale Kasler via Twitter

Surrounded by their legal team and advisors, the Maloofs addressed Sacramento media in New York and expressed doubt in the arena deal reached during All-Star Weekend. ¬†Below are a few notes from the family’s press conference conference this morning, followed by a portion of it in audio form.

  • George Maloof remains fervent on his position that no deal was reached. ¬†Coming out of the meetings in Orlando, he says there were still “lots of unresolved issues” that needed to be addressed.¬† He says that the family, city and the NBA agreed to address the media saying they have “framework of a deal with lots of work to be done.”
  • George says they’re not pulling out of the deal.¬† He says they’ve countered with a revised term sheet of their own, but that they’re frustrated with the lack of feedback from the city.¬† “My gut tells me that it’s challenging.¬† However, if I can hear back from the city on our terms; the mayor says he’s not negotiating, then he killed the deal and it’s over.”
  • The family says that they’ve been critical about paying predevelopment costs right from the get-go.¬† George Maloof: “Who would want to pay a predevelopment fee?¬† Then have your partner pay a predevelopment fee and then if the project didn’t work, (you’re) reimbursing you’re partner?¬† How is that fair?”
  • George Maloof says they’re not asking the city to invest more money into the deal.¬† “Absolutely, not.¬† That’s not how we do things.”
  • If this deal doesn’t work, George Maloof says the family has offered an alternative.¬† “Why don’t we look at re-doing Power Balance Arena, the existing facility?¬† A lot of our customers, most of our customers, enjoy going to Power Balance or enjoy (going to) an arena at that site.¬† We already have the infrastructure, the parking – it’s all there.¬† The cost to the city will be a lot less…and it just seems more natural to work.”
  • Is relocation off the table?¬† George Maloof says: “No, absolutely.¬† Not right now.”
  • Gavin Maloof on his emotional reaction following the meetings in Orlando: “Well, I think it was, it was a sense of maybe there was road to get something done.¬† Knowing that it wasn’t done, but there could be a road to get something done.”
  • Gavin Maloof on speaking before city council during the March 6th meeting: “I was having a hard time understanding what they were putting up on the board because those weren’t true…”
  • At the very end of news conference, George Maloof¬†told¬†Sacramento reporters that they’re willing to pay their share of $73 million, but they’re unwilling to pay the roughly $3 million in predevelopment costs.

Audio via News 10


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About: Jonathan Santiago

Jonathan Santiago serves Cowbell Kingdom as senior editor specializing in writing, podcasting and video production. He also handles the majority of CK’s day-to-day beat coverage of the Kings.