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.