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.
Sep 23, 2014, 8:02 PM EDT
Memphis is the latest team to try to salvage the former second overall pick in the 2008 draft.
Sep 23, 2014, 7:32 PM EDT
Not bad, but very Hawks-like.
Sep 23, 2014, 6:31 PM EDT
Kobe Bryant, Derrick Rose among the more intriguing names on the list.
Sep 23, 2014, 5:29 PM EDT
What is Ricky Rubio worth on the open market.
Sep 23, 2014, 4:16 PM EDT
It’s a play off what Seattle and Denver have done before.
Sep 23, 2014, 3:29 PM EDT
Danny Ainge has done a good job with keeping his options open.
Sep 23, 2014, 2:38 PM EDT
Adam Silver also says league isn’t looking into owners’ pasts
Sep 23, 2014, 2:02 PM EDT
Pierce signed for mid-level exception with Wizards
Sep 23, 2014, 1:26 PM EDT
James reportedly received guaranteed contract
Sep 23, 2014, 12:50 PM EDT
Not a lot of people will see the building from above, and it’s early in the process, but…. that’s not pretty.
Sep 23, 2014, 12:15 PM EDT
The many times Toronto and Kyle Lowry could have blown it with each other
Sep 23, 2014, 11:38 AM EDT
He’s already the best midrange shooter in the game.
Sep 23, 2014, 11:00 AM EDT
Heat guard getting style from fictional Miami serial killer
Sep 23, 2014, 10:00 AM EDT
Pacers ready for season without Paul George, Lance Stephenson
Sep 23, 2014, 9:30 AM EDT
Lamb, after playing for Bucks and Magic, likely to fall out of NBA following training camp
Sep 23, 2014, 9:00 AM EDT
Reed, previously a member of Kings and Grizzlies, in line to compete for roster spot
Sep 23, 2014, 8:30 AM EDT
He’s better than Charles Barkley already at this.
NBA’s rookie transition program presents information in a compelling way in order to promote real discussion
Sep 23, 2014, 8:00 AM EDT
Initially uncomfortable information is presented in order to create a dialogue on real-life scenarios, which helps prepare rookies for their initial steps into the NBA life.
Sep 23, 2014, 2:25 AM EDT
Monday tipped-off a series of NBA Cares and charitable events around the New York area tied to the All-Star Game.
Sep 23, 2014, 12:15 AM EDT
Wyc Grousbeck also says he wants Boston to keep point guard long term
- Report: Michael Beasley reaches agreement with Memphis Grizzlies 0
- Report: NBA not actively investigating source of Luol Deng African comment 4
- ProBasketballTalk 2014-15 Preview: Indiana Pacers 2
- Celtics owner: Rajon Rondo ‘super stubborn,’ harder than average to coach 19
- Bruce Bowen says blame for James Harden’s defense falls on McHale, Rockets 18
- NBA to review domestic violence policies in wake of NFL’s ugliness. It shouldn’t have taken that. 13
- Cavaliers lift ban on fan who ran onto court with LeBron James shirt 16
- Blake Griffin said he knew Donald Sterling was racist, wasn’t really surprised by tape 14