For all those not so attuned to the world of professional basketball, one of the biggest stories floating around the NBA right now is that the billionaire Maloof brothers, owners of the Sacramento Kings, want to close up shop in Sacramento and take their team to Anaheim. The potential move has left plenty of people wondering why the Southland needs a third NBA franchise. Well, as ESPNLos Angeles’ Arash Markazi reports, it’s all about timing:
Last month the Lakers agreed to an unprecedented 20-year television agreement with Time Warner Cable to distribute Lakers games and original programming across two regional sports networks in HD that will include the nation’s first Spanish-language regional sports network. Although finances of the deal were not released, some reports at the time pegged the value of the pact at $3 billion, a figure Time Warner Cable and the Lakers have since refuted.
If a third NBA team moves into the market, however, the Lakers’ television deal will decrease by about just under 10 percent, sources said without giving a breakdown of the numbers affected.
So the King’s move to Anaheim could wind up costing the Lakers $300 million. Possibly even more if Orange County fans feel jilted enough by the team’s move behind a cable paywall to start cheering for the new team they can watch for free.
Ouch! Those Maloofs are cooooldblooooded!