Story Summary

Sacramento Creates Counteroffer to Seattle Deal

The majority owners of the Sacramento Kings, the Maloof family, announced their intent to sell the team.

Sacramento Mayor Kevin Johnson and other city leaders are created a counteroffer to present to the NBA after a Seattle investor group made a bid for the team. The NBA officially announced on Jan. 21 that an ownership group in Seattle made a $525 million offer to buy the Kings, something that had been rumored for weeks.

May 14, the NBA officially denied the Maloofs’ request to relocate the team to Seattle, effectively canceling any deal they had in Seattle.

For more background information on last year’s deal, and offers from earlier this year to buy the Kings, click here

For more player reaction and details from the court, read more from Blake Ellington here

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SEATTLE-

Chris Hansen, who lost his bid to buy the Sacramento Kings last week, posted a statement to Sonics Arena congratulating Sacramento on its effort to keep the team.

“I’d like to start out by congratulating Mayor Johnson and the fans in Sacramento for the tremendous effort they put together to keep their team. Given what our community went through in 2008, if there is any silver lining in this for Seattle it is seeing Sacramento’s dedicated fan base successfully rally to keep the Kings,” Hansen wrote.

He said Seattle’s effort to bring the NBA back remains “undeterred.”

To read Hansen’s full statement, click here.

The Maloofs aren’t the most popular family in Sacramento, but it hasn’t always been that way. Andria Borba has a look back at their legacy in the River City.

In Search of Die-Hard Kings FansSACRAMENTO-

The Maloof family has reached an agreement to sell the Sacramento Kings to Vivek Ranadive and his ownership group, according to a report from the Sacramento Bee’s Tony Bizjak.

NBA Commissioner David Stern said Wednesday, after the NBA voted against the relocation of the team to Seattle, that he hoped to have a deal done by the end of the week.

George Maloof and Ranadive both confirmed Wednesday that their lawyers had been talking and Mayor Kevin Johnson said a deal was close Thursday morning, when he returned to Sacramento.

The deal would be officially announced Friday, a source told Bizjak.

A representative of the Maloof family told FOX40 Thursday night was hesitant to confirm anything, saying they would announce something if a deal was completed.

Paul and Bethany chat with Carmichael Dave, a radio host, who’s been a driving force in getting support for the Kings. Sabrina finds that Seattle leaders are disappointed with the NBA’s decision, but they say they’re not giving up.

Sports
05/15/13

NBA Board Votes to Keep Kings in Sacramento

DALLAS-

The NBA has ruled the Sacramento Kings will remain just that, Sacramento’s.

The NBA’s Board of Governors met Wednesday in Dallas to make a decision on the future home of the team. The majority owners of the team, the Maloof brothers, had competing offers from a group of investors in Seattle and a group in Sacramento.

The league’s relocation committee recommended earlier this month the team stay in Sacramento. NBA Commissioner David Stern said 22 of the 30 board members voted against relocating the Kings Wednesday.

Stern also said the league will facilitate an agreement between the Maloofs and the Sacramento investor group to sell the team. He hopes the brothers will be motivated to move fast on the sale so the new investors and arena plan can get moving.

He did confirm that because the board only voted on the relocation issue Wednesday, the Maloofs have the right to maintain their majority ownership of the team and do not have to sell. However, Stern said he expects the brothers to transfer to the Sacramento group headed by Vivek Ranadive and Mayor Kevin Johnson.

Seattle’s group upped their offer to more than $600 million Friday, however Stern said Wednesday the Sacramento offer they considered was still the $525 million.

The NBA Deputy Commissioner, Adam Silver, said the discussion among the board members was not focused on pitting Sacramento and Seattle against each other, but whether Sacramento could continue to support an NBA franchise.

The commissioner said he would keep up a conversation with the potential owners in Seattle, “but we don’t have anything concrete to offer them at this time.” He said there was only generalized talk about possible expansion of the NBA sometime in the future, however he said it was important to wait for new television contract renewals, which are expected in the next year or so.

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Jim is in Dallas Wednesday. This is, fittingly, a restaurant in the hotel where the board is meeting.

DALLAS—

FOX40’s Jim Crandell is in Dallas Wednesday to cover the NBA Board of Governor’s meeting, where the group is expected to decide on the King’s fate.

Two questions the board is expected to make a decision on are:

-Will they allow the Kings to move?

-Who do they want the Maloofs to sell to?

Mayor Kevin Johnson has reiterated that that the city has done everything the NBA has asked.

Follow Jim Crandell on Twitter for up-to-the-minute updates on this story- https://twitter.com/JimCrandell

A live stream of the meeting can be seen here- http://fox40.com/live/

Kings Lobby

Artist’s rendering of what the inside of Sacramento’s new arena could look like. Courtesy: AECOM, April 2013

SACRAMENTO-

A lawsuit was filed Tuesday against the City of Sacramento, Mayor Kevin Johnson and City Manager John Shirey and Assistant City Manager John Dangberg on behalf of three residents that claim the city had undervalued its contribution to the development of a new downtown arena.

The city has publicly stated that their agreed-upon contribution is $258 million in public assets, but the suit alleges that the city’s contribution is actually $80 million more.

Isaac Gonzalez, James Cathcart and Julian Camacho, the plaintiffs in the suit, accuse city leaders tried to hide the extra money they were allegedly giving.

City Attorney Jim Sanchez responded to the suit in a written statement.

“We have reviewed a copy of the complaint and believe that the public record on the Council action to approve the

preliminary term sheet is supported by substantial public benefit. We are prepared to defend the Council decision as necessary and do not believe this lawsuit has merit,” Sanchez’s statement read.

The NBA Board of Governors will vote Wednesday on whether or not to relocate the Sacramento Kings to Seattle. A league relocation committee has already recommended that the team stay.

To read the entire lawsuit, click here.

SACRAMENTO—

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.

Sports
05/10/13

Seattle Group Increases Bid for Kings

Chris Hansen Speaks about NBA Committee Meeting

Chris Hansen, the leader of the group that wants to bring the Kings to Seattle, spoke to the media after Seattle made their case to the NBA Committee.
Courtesy: NBA, April 2013

SEATTLE-

A Seattle group trying to buy the Sacramento Kings from the Maloof brothers has upped their bid by $75 million Friday, just days ahead of an NBA Board of Governors meeting where owners are expected to decide the fate of the team.

The Seattle ownership group, led by Chris Hansen, announced Friday morning they are voluntarily increasing their proposed purchase price to $625 million.

“In conjunction with our revised offer, we have also guaranteed to the NBA that the Franchise would be a revenue sharing payer in all years in Seattle,” said Hansen in a statement posted on the group’s website.

Sacramento’s Mayor Kevin Johnson, who has headed the Capital City’s efforts to keep the team in California, responded.

“The NBA leadership and owners have always said that their decision would not be dictated by a bidding war. This was always about whether Sacramento, a community that has supported the NBA for 28 years, can put together a plan and organization to ensure the franchise can rebuild and thrive,” said Johnson.

The NBA’s 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.

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