There might be a loophole in the Maloofs’ plan to sell the Kings and move them out of Sacramento.
Attorney David Flemmer, who is handling minority owner Bob Cook’s bankruptcy, says there is a right of first refusal clause in Cook’s ownership papers.
But what does that mean?
Cook obviously doesn’t have the money to buy the Kings, but he could partner with someone who does, like Ron Burkle, and exercise that clause.
It could force the Maloofs to sell locally, keeping the team in town. However, the Maloofs could also buy Cook’s portion.
FOX40 Legal Analyst Ken Rosenfeld said Thursday that he doesn’t feel such a clause will hinder the Maloofs much at all.