Kings’ relocation: Follow the television money to Anaheim
That lease deal the city of Anaheim approved and is now awaiting a Maloof signature is not a great one for the Kings. Not really close. They take on more debt — a $50 million loan — and don’t get all the luxury box money, and just a percentage of concessions, parking and other incomes. Nobody should be calling it a sweet deal.
So how does it pencil out for the Kings?
Currently the Kings make $11 million a year from Comcast, Amick reports (the first time we have heard a figure).
In the Southern California market, they will likely at least triple that. Or quadruple it (which is what people around the Kings have hinted). Or more.
The Lakers just signed a 20-year deal with a soon-to-be-launched new cable sports network that the team swears is not going to pay them the reported $150 million a year everybody keeps hearing. But you can bet it’s in that ballpark. Although it may be 10 percent less at if the Kings move to town. So only $135 million a year.
Now they are the Lakers, the kings of all sports media in Los Angeles. They are story one, two and three in a city without an NFL team. The Kings are not going to get near that. But a third of that?
Fox Sports West needs someone to replace the Lakers on their schedule. There is an opening. Television ratings will come if they are successful. That is the key in Orange County and the Southern California (for attendance as well).
An extra $20-$30 million a year covers a lot of problems for the Maloof brothers. As always, it’s about the money. This time, it’s just television money more than just stadium money.