Jan 9, 2013, 8:34 PM EDT
Things can change. There was already what was supposed to be a final game in Sacramento that turned out to not be so final. And anyone who doesn’t think the Maloofs can change their mind at the last minute didn’t watch the arena negotiations in Sacramento a year ago.
But the Maloof family selling the Kings franchise to Seattle’s Chris Hansen/Steve Ballmer group for around $500 million is moving fast down the road to reality.
And it’s what David Stern wants, which makes it all the more likely. And he wants it to happen before March 1 so the new owners can file to move the team to Seattle next season (a lame-duck year in Sacramento would be ugly).
When the news broke Wednesday that a deal was close, it seemed to come out of nowhere. But these talks didn’t. They have been going on months or longer and I was told have been serious for a little while. More serious than Virginia Beach ever was because the money is there in Seattle. Hansen’s company is pitching in for the arena and to buy the team and it is a $2.7 billion firm. Ballmer is worth more than $15 billion by himself.
They can overpay for the franchise, pay relocation fees, and whatever else. While the City of Seattle is going to pitch in a bond for the stadium construction, this is not like the deal in Virginia or even the old deal in Seattle before the Sonics moved where the state governments were asked to pitch in some cash. Most of the money in the project is private financing and there is no state money. Those kind of projects get done.
David Stern looks back at what happened before in Seattle, a great basketball market, as a black eye, and he wants to see a team return there. It’s one of his last priorities and something he wants as a legacy, according to reports. And what Stern wants…
But that is different than saying this is a lock.
Sacramento Mayor Kevin Johnson says there is hope and there is, because this is a massive deal. A very complex deal. Remember that in all of this the Kings and Maloofs have a debt to the city of Sacramento worth more than $75 million, plus other obligations. Those have to be cleared up. The Kings owners would remain a minority owner in the new team and arena. This is an arena some in Seattle — including baseball’s Mariners — have opposed. Large deals with a lot of moving parts can crumble.
But it’s hard to see some cavalry come charging over the hill to save the Kings, because the NBA isn’t fond of the cavalry.
David Stern and the plethora of other attorneys at the NBA league offices are big on process. They want someone to be around, to work through the system, not to just swoop in last minute. Hansen has been talking to the league and working on his arena deal for years. Getting the team is just the last, big part of that.
If Hansen does buy the team, there will not be opposition from the other owners. Because Stern wants this and because stable ownership in a large Seattle market is a good thing. It will fly through the league process. However, team officials around the league have been warned not to comment on these talks, reports Sam Amick at the USA Today.
In the end, I wouldn’t bet the rent money on the Maloofs selling the team because they are unpredictable. To put it kindly. I mean a key owner of the Kings is on “Real Housewives of Beverly Hills.” And the deal has not reached the point the minority owners of the Kings have been informed, reports the USA Today.
But the Seattle deal didn’t come out of nowhere, it’s been worked on for a while. The Maloofs were not telling Kevin Johnson about it but the talks have been happening and it’s not going to be easy for Johnson to wedge himself into them at this point. Now it’s time to see if the deal can be finalized. Something David Stern wants. And what he wants he usually gets.
Mar 11, 2014, 11:21 PM EDT
Kevin Durant led the Thunder to victory with his 42 points, but not before there were plenty of fireworks between the two teams.
Mar 11, 2014, 9:36 PM EDT
Kobe Bryant’s recovery has been slower than expected, and the Lakers are reportedly ready to officially shut him down for the season.
Patrick Beverley goes at Russell Westbrook just as he did on the play that caused injury in 2013 playoffs (VIDEO)
Mar 11, 2014, 8:44 PM EDT
Patrick Beverley gives Russell Westbrook a not-so-subtle reminder of the play that caused Westbrook’s season-ending knee injury in the 2013 playoffs.
Mar 11, 2014, 8:13 PM EDT
George Karl says that Carmelo Anthony, whom he coached in Denver, isn’t a Phil Jackson type of player. Which means?
Mar 11, 2014, 7:10 PM EDT
You knew this was coming right after the incident Monday night — the Suns Tucker got a game for a forearm to Griffin’s head. As he should have.
Mar 11, 2014, 4:43 PM EDT
It’s been clear for a while that Kobe Bryant was done for the season. The Lakers would not say that publicly for the same reason the Bulls would not say Derrick Rose would not come back last playoffs when we all knew he wouldn’t. They don’t want to anger their star player, and if fans…
Mar 11, 2014, 3:44 PM EDT
If Andrea Bargnani is out the rest of the season, Knicks fans will be good with that.
Mar 11, 2014, 2:50 PM EDT
Why to the Boston Celtics need a St. Patrick’s Day uniform? Good question. But they have one now, with sleeves.
Mar 11, 2014, 1:56 PM EDT
The last time LeBron went back-to-back games without a trip to the free throw line he was a rookie.
Mar 11, 2014, 1:10 PM EDT
To be fair to the ball boy, nobody expects Tyler Hansbrough to make a steal on the perimeter then race out on the fast break by himself.
Mar 11, 2014, 12:25 PM EDT
Don’t use cotton swabs, kids.
Mar 11, 2014, 11:47 AM EDT
With backup center Ian Mahinmi out for the night, the Andrew Bynum era in Indiana will begin Tuesday against Boston.
Mar 11, 2014, 11:25 AM EDT
Conflicts with yesterday’s prominent report
Mar 11, 2014, 11:11 AM EDT
All the way to playoffs?
Mar 11, 2014, 10:43 AM EDT
Also compares his phone to bell bottoms, which might be pretty ironic, but I’m not a fasion expert.
Mar 11, 2014, 10:03 AM EDT
Yannick Noah would rather do more of the Dikembe Mutombo finger wag
Mar 11, 2014, 9:30 AM EDT
This seems like more than a coincidence.
Mar 11, 2014, 8:44 AM EDT
Griffin should have gone for the full tear, though.
Mar 11, 2014, 8:00 AM EDT
“There’s no better preparation than going straight to the NBA… I think the NBA is the best teacher.”
- Kevin Durant scores 42, Thunder win a chippy one over Rockets 3
- Report: Lakers to officially declare Kobe Bryant out for the season 11
- Suns’ P.J. Tucker suspended one game for blow to head of Blake Griffin 8
- Vogel: Andrew Bynum to play for Indiana Pacers Tuesday night 14
- Report: Phil Jackson expected to finalize contract with Knicks by end of week 32