Zastava_101

Looks like they're moving to Seattle next year ...

Zastava_101

The Maloof family that owns the Sacramento Kings has reached a purchase agreement to sell 65 percent of the franchise to a Seattle group led by Chris Hansen for $525 million, according to league sources.

http://espn.go.com/nba/story/_/id/88...am-sources-say

Zastava_101

Owners keep Kings in Sacramento


DALLAS -- NBA owners have spoken: They, too, want the Kings playing in Sacramento.
Owners from the league's 30 teams met here Wednesday for nearly four hours and voted to reject the Kings' proposed move to Seattle, backing last month's recommendation from a relocation committee to keep the team in Sacramento. Sources say the vote in favor of keeping the team in Sacramento was 22-8.
NBA commissioner David Stern said afterward that the Maloofs' proposed sale of the team to a Seattle group headlined by lead investor Chris Hansen "ended effectively" with the results of the relocation vote.
Stern confirmed at an evening news conference that the Maloofs "have the right to retain ownership" of the Kings but expressed confidence that a sale to Silicon Valley billionaire Vivek Ranadive's consortium eventually will go through.
"It is my expectation that we'll be able to make a deal with the Maloofs and the Ranadive group," Stern said. "... It's not a certainty, but we're going to work [toward] that result."
The Maloofs, by all accounts, do not want to sell the team to the group led by Ranadive, who has worked closely with Stern during the past few months in Sacramento's scramble to try to prevent the Kings from leaving town.
In a last-ditch bid to try to trump the relocation committee's unanimous recommendation to block the Seattle sale, Hansen last week increased the value of his offer for 65 percent of the Kings from $358 million to a record $409 million, pushing the overall valuation of the proposed transaction to $625 million. Hansen also offered a relocation fee payout of $4 million per team -- for a total of about $116 million -- to try to sway owners to bypass the relocation committee's recommendation.

Iceknyght

I am a long time Kings fan and hate what this tam has had to go through because of the Maloofs... I just want them to go. I was sad to see the team look like it was heading to Seattle, but it would have been nice to finally get rid of the Maloofs... They have been nothing but a PITA... And some how, because they are involved, I am sure this thing isn't over...

stangfoeva

The Maloofs are idiots no doubt, but they are being screwed by the NBA here

Iceknyght

From the way they have tried to conduct their business, they deserve to get screwed over, IMO. They brought this crap on themselves. A town that used to love the Kings and show up to every game, no matter if they were in first place or last, has become jaded and no longer show up because they have no clue what the owners are going to do (they always said they wanted to stay in Sac, but were dealing trying to move the team for several years). It's beyond frustrating.

Zastava_101

Its not the first time.

stangfoeva

I understand that. They're terrible owners. I was just mentioning the Mallofs were getting screwed because they're not being allowed to sell the team to the groupd offereing more money.

It's great for Sac to be able to keep their team home though
At least they get to stay in Sac. I say the NBA move the Clippers up to Seattle. Then everyone can be happy

Iceknyght

LOL!

Oh, I agree with being able to sell to the group with more money. That is definitely a **** move, but I think the NBA doesn't want what happened to the Sonics to happen to any other teams again, if they can... Not saying it's right, just what I think is happening...

stangfoeva

Agreed. Hopefully the new ownership group starts a new culture in Sac. Look what the new ownership has done in Golden State

Iceknyght

Yeah, it's been awesome... Reminds me a lot of the 'feel' that the San Francisco Giants have had over the past few years. Fingers crossed!

BRADGTCS

I for one am glad they are not coming to Seattle. Not because they are bad but because I am tired of this area jockeying to keep,swoon and buy sports teams. They use our taxpayer dollars up here. They should be self supporting.