Maloofs Strike Backup Deal with Seattle Group – ESPN

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On the heels of news that the Maloof brothers upped their bid by $75 million Friday, a new report reportedly shows how the Maloofs will refuse to sell the team to Sacramento.

According to an ESPN article released Saturday that cited two anonymous sources, the Maloofs have made a backup deal with the Hansen-Ballmer group, should the earlier deal be rejected by the NBA’s Board of Governors.

The Seattle ownership group, led by investor Chris Hansen, announced Friday morning they are voluntarily increasing their proposed purchase price to $625 million. The new deal would reportedly sell 20% of the Kings to the Hansen-Ballmer group, leaving the Maloofs as majority owners, according to ESPN.

The report has not been confirmed by either the Maloofs, the Seattle group, or the NBA. But, if it’s true, it’s the one trump card the Maloofs may have to force the league to approve a Kings move to Seattle.

If the backup deal takes place, the Maloofs would sell the 20% minority stake for $125 million. They would then continue to operate the Kings while Hansen and Ballmer put pressure on the City of Sacramento to execute an arena deal. If a deal can’t be reached, the Maloofs could again apply for relocation.

Local reaction to the report quickly admonished the Maloofs.

The board of governors will be meeting in Dallas next week to talk about league issues, including the fate of the Sacramento Kings. The league’s relocation committee said recently they support keeping the team in Sacramento.

FOX40’s Jim Crandell will be in Dallas next week to report the latest on the decision.

Mark Demsky and Cecilio Padilla contributed to this report.

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1 Comment

  • Crownsmith,Robert

    This is ridiculous,now that the Maloofs have made it their priority to not keep the Kings in Sacramento and sell the team to Seattle by all means necessary! They sure have something against this town and its people who have supported the Kings for twenty six years. I believe that they have a vested interest in selling to Seattle,for what reason…who knows? However,there’s something that they are hiding for not wanting to sell to the Sacramento investors,and I also believe that a criminal investigation should be open against the Maloofs and the Seattle group. We need to dig a little deeper into this they have some dirt under their nails and we find out what it is they’re hiding…a whole lot of heads are gonna roll.