The mutual trust between David and the sponsors was unassailable -- enough to even navigate a snafu that could have derailed his entire scheme. A former executive from the NBA's Sacramento Kings has been accused of taking $13.4m from two sponsors, according to The Sacramento Bee. They estimate that the Kings are profiting hundreds of thousands of dollars a month as, in their estimate, the cost to run the shuttered facility is a small fraction of what the state is paying to rent it. The agent gets more specific, probing the mechanics of Sacramento Sports Partners' formation. The Detroit Pistons (15-48) play against the Cleveland Cavaliers (39-26) at Rocket Mortgage FieldHouse Live Stream: fuboTV (Watch for free) NBA League Pass: The most live games plus NBA TV. Jabour was hired by the Rockets after working as a support staff member with USA Basketball in 2006 following four years on staff with Arizona State mens basketball program. ", "What's he talking about?! David is operating under the hope that by cooperating, he can work out a favorable deal. [1] Kolokotronis is in her 22nd season with the Kings. Account Executive at Sacramento Kings Sacramento, California, United States. "It's like a money grab.". You gotta admire Scot's remarkable humility Whenever we talk about the 2000s Sacramento Kings, a.k.a. David and Golden 1 had a deal structure that included 20 annual payments averaging $5.5 million. Mavericks-Pelicans, 7:30 p.m. The news first broke in August 2018, when the Sacramento Bee's Sam Stanton and Darrell Smith revealed David's scheme to siphon $13.4 million from Kings sponsors Golden 1 Credit Union and . Former Sacramento Kings executive Greg Van . Where, according to an article in Fortune, the prison currency comes in the form of tins of cooked mackerel. Matina Kolokotronis (born November 21, 1964) is Chief Operating Officer of the Sacramento Kings of the National Basketball Association. [7] Highly regarded executive Daryl Morey (who was the president of basketball operations of the Rockets at this time) said in 2018, "Monte has been absolutely critical to the success of the Rockets over his long tenure.". NBA.com is part of Warner Media, LLCs Turner Sports & Entertainment Digital Network. For each of our 1,114,789 listed executives, discover their exact roles and their biographies. No milieu displayed this NBA abundance more than the Lexus Lounge at the Golden 1 Center half an hour before tipoff. Still, to Nancy and Rich, he seems oblivious to the depth of his crime. Watch on ESPN+, Follow Zion, Ja, RJ, De'Andre, Coby and more top rooks as they balance basketball and life during an exciting NBA season. "Jeff David was a lone operator.". Reading David's email felt invasive, even if Kings employees, like those at most companies, sign away their privacy to people like her. He says he had the mechanics worked out: On July 1, 2026, the Kings would be expecting $5.5 million (per the original payment schedule). They are calling on the Kings to keep with "the long-standing spirit of the organization" and return any profit it is making from the rental agreement back to the state. A surge of adrenaline jolted through Wegzyn's body. "The Sacramento Kings, Stockton Kings, Kings Guard Gaming and Golden 1 Center have joined forces to educate, entertain, provide support and bring acts of kindness or "Kings-ness" to the community," a spokesperson said in an email. The NBA announced on Thursday that it's fining the Kings $50,000 . But the forfeiture team has arranged to sell far more complex assets than beach homes. Barnes scores 29 points, Kings beat Thunder for 4th straight Harrison Barnes scored 29 points and the Sacramento Kings beat the Oklahoma City Thunder 123-117 on Tuesday night for their fourth . Sacramento, California, United States Hand-picked to serve as an executive assistant to the Senior Vice President of Marketing and Chief Technology officer offering administrative leadership. Still, in a Kings organization often beset by palace intrigue, many colleagues found Jeff to be a reassuring voice who preached the virtues of "not sweating the small stuff." "This happened over many, many years.". Here is the full list of the CBS13 stories cited by the Kings: The NBA 2K League is set to start on May 5 as teams will compete remotely due to COVID-19. Jeff tells her that's unlikely. Select the second team from the drop down menu. After a short night's sleep, the family returns to the house in Pinecrest the next morning to rebox their belongings. Four blocks down L Street was the capital of the world's fifth-largest economy, and the lobbyists who grease the wheels of that engine were there at one of 41 exclusive parties per season. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. When asked to recall the last time he spoke with someone from the Kings, though, he neglects to mention the call with Wegzyn on Monday. In the matter of Kaiser Permanente's $4.4 million, these executives are even more dubious of David's blueprint to make the Kings whole. Here, they begin with a directive to David: "Anytime you want to confer with your lawyers privately, we're happy to step out of the room," says Assistant U.S. Attorney Michael D. Anderson. We have tools and resources that can help you use sports data. Mike Brown, left, the new head coach of the NBA Sacramento Kings basketball team poses for a photo with Kings general manager Monte McNair, right, in Sacramento, Calif., Tuesday, June 21, 2022. Amidst the discussion around who the Sacramento Kings draft with the No. "It seemed out of sorts from what our morals and core values were," Peterson said. Select the fourth team from the drop down menu. Free Test. It's a schmoozy industry conclave where David had once thrived, and this year he is at the center of attention in absentia. SAN FRANCISCO (AP) A former Sacramento Kings top executive agreed Wednesday to plead guilty to siphoning $13.4 million from the team to buy Southern California beachfront properties, court . During this extended playoff drought, the Kings had 10 different head coaches. IT WAS ONLY one document -- one ordinary little document -- that Stacy Wegzyn had needed from Jeff David. Jabour comes to Sacramentos front office with 14 years of experience in the league, most recently serving as Director of Scouting for the Philadelphia 76ers where he was heavily involved in day-to-day personnel operations, including talent evaluation, leading intel processes and collaborating with player agents. Amid all of this, Jeff receives a phone call from a former co-worker with the Kings. CBS13 requested copies of those lease agreements from the state, most of which appear to be for existing medical facilities, but we did not receive a response by our deadline on Thursday. A week after signing the initial monthly rental agreement, with a $2 million maximum, the state signed an amended agreement which increased the maximum payment to $3 million to cover the cost of paying staff wages in addition to utilities. [8][9] Divac and the Kings traded DeMarcus Cousins to New Orleans in 2017 and chose to draft Marvin Bagley III in 2018, one pick ahead of Luka Doncic. The company owns and manages professional basketball teams and competes in the National Basketball Association as a member of the Western Conference Pacific Division. Golden 1 Center | 500 David J Stern Walk | Sacramento, CA 95814. David's lawyers counter that their client has cooperated fully and presents little risk of recidivism. SACRAMENTO, Calif. A former executive with the Sacramento Kings has been sentenced to seven years in prison for stealing millions of dollars from the NBA team, according to the U.S.. 496 followers 493 connections. Warriors-Lakers, 3:30 p.m. (ABC) Founded in 1923, The Sacramento Kings are a professional basketball team based in Sacramento, California, United States. Our reasoning for presenting offensive logos. Data Provided By Find out more. Multiple sources in Sacramento portray Golden 1 as an institution eager to make a splash in the market it has championed passionately. The San Francisco 49ers today announced a new multi-year broadcast partnership with Sactown Sports 1140AM, the local sports leader for the Sacramento metropolitan area. Why did Jeff David steal $13.4M from the Kings? Jeff arrived at the soiree with Kate, who found the whole affair conspicuous, a bit ridiculous, a different kind of life. Johnson joins the Kings basketball operations department with seven years of NBA experience, most recently serving as the Assistant General Manager of the NBA G Leagues Oklahoma City Blue. . Knicks-Celtics, 7:30 p.m. The wild story behind the NBA's most unlikely heist, Morant to miss two games after video with gun, Sixers rally to snap Bucks' 16-game win streak, Curry, Iguodala probable to return vs. Lakers, Sources: Suns hiring Pistons' Bartelstein as CEO, Grizzlies' Clarke tore Achilles, out for season, Kerr touts 5-0 homestand: Dubs 'turned a corner', KD: Mavs tilt, Kyrie meeting 'just another game', Sources: Dragic joining Bucks for rest of season, The paths of KD and Kyrie: How one month changed three franchises and two superstar legacies. What's going on?!". "The monthly lease amount for Sleep Train Arena (including 4,000 parking spaces) is a discounted rate. It also gave David an opening. I'll be up soon.". It's not going to be a big deal.". 3 min read. 2020 CBS Broadcasting Inc. All Rights Reserved. As Wegzyn navigated a morass of files in David's old directory, she hadn't been able to discern an organized system, so she'd had to open things one by one. Subscribe to Stathead Basketball: Get your first month FREEYour All-Access Ticket to the Basketball Reference Database. Claiming that expenses were piling up as the Kings tried to complete construction of the new arena, David asked Kaiser if it would add a $4.4 million upfront payment in lieu of an escalator. "I knew how these other companies operated. But I care less what has happened to me and I care more about making sure I've done the right thing for the people I've offended and I've hurt.". The Kings have been recognized as one of the top 10 most innovative teams and success in this position is enhanced through the use of premium software such as: Dialpad, Clearslide, OneMob, Salesforce, DialSource, ZoomInfo, and Linked-In Sales Navigator, among others. Summer 2018: Wegzyn finds the trail THE KINGS ENTERED 2015 celebrating their unlikely survival. David offers a broad outline of the Golden 1 and Kaiser Permanente schemes. The Kings have finalized contracts with Doug Christie, Jay Triano and Luke Loucks to be assistant coaches under Mike Brown, writes Jason Anderson of The Sacramento Bee. At group dinners and in casual conversations, execs who worked with David try to recall instances that might have marked him as a crook. Kevin Durant, Kyrie Irving, Karl-Anthony Towns, Kawhi Leonard, Anthony Davis and Brandon Ingram will play outsized roles in how their respective teams close the season. Account Executive (Former Employee) - Sacramento, CA - October 2, 2017 Indeed Featured review Great place to work if you truly enjoy meeting new people and building relationships! All content 2000-2023 RealGM, L.L.C. A spokesperson previously noted that the half-million-dollar rent at the arena works out to $41 per bed, per night for 400 beds. One executive in the finance department of an NBA team says, "We invoice everything -- even signed contracts. McNair hopes to bring stability to the organization. Sacramento Kings. Grapevines and Teslas lined the driveway of Ranadive's 3-acre chateau; his glass-bottom pool was covered with flooring beneath an expansive tent. Wegzyn asked Thomas to set up a meeting. Prior to the Hawks, Wilcox was Director of Player Personnel for the Cleveland Cavaliers and the first General Manager of the Cavs NBA Development League team, the Canton Charge. It is July 2018, and much of David's family is on hand to help with the move. Jabour made his NBA debut as Daryl Moreys first scouting/personnel hire with the Houston Rockets in 2006. - Develop Fan Experience strategy to sell $100k in experiences through the Kings App. Wegzyn had also found a couple of K-1 tax forms listing Golden 1 and Kaiser Permanente as partners in SSP, which seemed peculiar given that credit unions and health care consortiums don't make a habit of investing in beach houses with basketball executives. "He'd open meetings with 'It's Money Monday!' Flipping these valuable properties -- funded by his pilfering -- gave him that chance. Sacramento Kings forward Richaun Holmes sued the Sacramento Bee's parent company, McClatchy Co., and Bee opinion writer Robin Epley for defamation over articles that included Mr. Holmes's. The team's star, DeMarcus Cousins, earned $17 million. 2016: Purchases beach homes These three executives join Chief Strategy Officer Joe Dumars, Assistant General Manager Ken Catanella, Vice President of Athlete Health and Performance Teena Murray and Vice President of Kings. The amount represented a relatively small sum for a franchise that would generate some $13 million in sponsorship revenue that season. SACRAMENTO (CBS13) Former Sacramento Kings executives say they are shocked that the organization is charging the state $500,000 a month to rent the shuttered Sleep Train Arena to be used as a field hospital for COVID-19 patients. Follow game Los Angeles Clippers vs Sacramento Kings live coverage, stream information, score online, prediction, TV channel, lineups preview, start date and result updates of the NBA on March 3rd . However, they said that few teams are profitable year to year and they note that many businesses will lose money, along with the state. Between the two of them, they spent nearly 30 years with the Kings. In June 2015, the Kings and California credit union Golden 1 agreed to a 20-year, $110 million naming rights deal for the team's new arena. Stacy and Mark bid schmaltzy parental farewells to their daughter, whom they settled at school, then reversed course back to Sacramento. On September 17, 2020, the Sacramento Kings announced the hire of McNair as the general manager and president of basketball operations. Kevin Arnovitz explains what the possible motivations were for former Kings executive Jeff David siphoning millions of dollars from the team. But it's when Sommercamp asks about how he obtained signatures from his partners in Sacramento that Jeff knows it's time to suspend his cheery front. For several more hours, Rich tries to pierce Jeff's logic, while Nancy reassures the family that Jeff is redeemable. Jeff explains -- the visit from the FBI earlier in the day, the full breadth of the scam. Wilcox will support General Manager Monte McNair in all facets of front office operations including roster construction, strategy and player evaluation. Wegzyn figured a quick tour of his file directory would produce something, so on Tuesday, six days before the FBI sting in Miami, she'd had the Kings' IT department download an archive from their shared cloud system. In August 2018, the Kings' senior vice president of human resources had been looking for a copy of a commission structure to build out the corporate sales team. One week after her first foray into David's underworld, Wegzyn had struck the mother lode. He returns to Columbus, where he, Kate and their three children have relocated to a roomy cluster home not far from where Kate grew up and where most of her family resides. We're going through an audit, and I'd like to see if you can send me a list of all payments made to my organization over the last five years.". They say the Kings have a history of donating the facility, free of charge, during a variety of emergencies ranging from floods to Y2K. What if this is all legit? As the person principally responsible for selling associations to these famous athletes, David was a fixture on the event level, too. David had neglected to leave the digital document when he'd departed for Miami a few weeks earlier. CBS13 asked the Kings to disclose their actual monthly expenses for Sleep Train Arena, not including utilities and staffing that the state is paying for in addition to the $500,000 monthly rent. Join to view profile Sacramento Kings. Less than four years after siphoning off $30,000 in courtside signage, David had now stolen $13.4 million from the Kings and their top corporate partners. What Wegzyn didn't yet have were whatever contracts David had drawn up to lure Golden 1 and Kaiser Permanente into his scheme. "No, no, no," Jeff responds. "That explanation rings hollow for me," Stone said. He planned to rent these investment properties, but in the meantime, his young family could bask in the warm glow of one of L.A.'s most appealing coastal towns. This agent, John Sommercamp, finds Kate and Jeff in the kitchen, where he tells them they might be the victims of fraud. "We're going to lose everything.". Select the fourth team from the drop down menu. Even the head coach pulled in almost $4 million per season. Inside the folder were the contents of David's old laptop, which included a PDF with the signatures of Granger, Bland and Rinehart, along with copies of the amendment for the Golden 1 deal and the revised contract with Kaiser Permanente. "We're partners. ", "Theagreement has also enabled over 100 part-time Kings team members (i.e. He is an Arizona State University alum (2006) and earned a Masters of International Business from the University of St. Thomas (2007). IN 2009, WITH the NBA in the headwinds of the global recession and rumors of a Kings relocation swirling, David was a man with growing concerns. Wilcox began his career in the NBA as an intern (2001-02) with the Miami Heat in their scouting and video department, before becoming a Video Coordinator with the New Orleans Hornets in 2002-03. Starting with the 2023-24 NFL season, all preseason and regular season 49ers games will be radio broadcast by Sactown Sports for the Sacramento Faithful. And now, after her husband has confessed to a monstrous fraud, her mother sits beside her and extends an arm, but she is virtually unresponsive. All rights reserved. The reality is there are only four real contenders. In September, $4.4 million landed in the account of SSP. Michael McCann Jan. "I can liquidate the properties. 1948-49 to 2022-23. (4/28/20), Kings Join 49ers, Other Local Major Sports Team In Donating 50,000 Face Coverings To Health Care Providers, CBS Sacramento, 4/24/20, Harrison and Brittany Barnes are donating $40,000 for weekly groceries to people in need while also providing coffee and pastries for medical workers at Kaiser's South Sacramento Intensive Care Unit. "What happened with Golden 1 and Kaiser probably doesn't happen with American Airlines or Bank of America," says a top NBA team executive. Jeff, the former chief revenue officer of the Sacramento Kings, has taken the day off to move after landing a new role as CRO of the Miami Heat. Jeff explains that he's part of an investor group. Logos were compiled by the amazing SportsLogos.net. Six seasons split between Kansas City and Omaha, and then seven more in just K.C. Confirm that your trade proposal is valid according to the NBA collective bargaining agreement. $500,000 a month to rent the shuttered Sleep Train Arena, most of which appear to be for existing medical facilities, Public File for KMAX-TV / Good Day Sacramento. By choosing I Accept, you consent to our use of cookies and other tracking technologies. [16], List of National Basketball Association team presidents. Given the team's near departure from Sacramento numerous times over the previous few years -- including the stay of execution that had wrested the team back from Seattle in 2013 -- the Kings saw large-scale sponsorship deals as more than just an opportunity to cash some checks. He recently served as an Analyst for NBA TV and SiriusXM NBA Radio, is a 2001 graduate of Cal-State Fullerton and a native of La Habra, California. Or write about sports? On Thursday, when the Kings were mining their network for additional evidence, a folder named "660" was uncovered -- 660 J Street was a temporary home of the team's business operations during construction of the new arena. Terms at draftkings.com/sportsbook. Johnson will lead Stocktons front office and have a hand in multiple aspects of Kings basketball operations. David now lives at the Federal Correctional Institution in Morgantown, West Virginia, where pleasures are smaller and infrequent. Raptors-Clippers, 10 p.m. His style wasn't for everyone. In doing so, the credit union left itself exposed to a mistake a more sophisticated entity might have avoided thorough due diligence. Every Sports Reference Social Media Account, Site Last Updated: Saturday, March 4, 6:46PM. But it did ultimately prove useful. SACRAMENTO, Calif. (CN) - Capping a corporate embezzlement scheme executed inside the headquarters of a major sports franchise, a federal judge on Monday sentenced a former Sacramento Kings executive to seven years in prison for a series of white-collar crimes. However, CBS13 also asked how the Kings planned to use the money it is making on the arena during the pandemic. How do you repay money to a team that doesn't know anything has been stolen?
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