Jan 11, 2013, 1:24 PM EDT
Let me be honest here: How close to done the Kings sale to the Chris Hansen/Steve Ballmer Seattle group is depends on who you talk to. From some sources around the league it’s all over but the signatures. Out of Sacramento it is nowhere close and the Maloofs want a bidding war.
The latest report on the issue comes from Matt Steinmentz of CSNBayArea.com, via Sulia.
I’ve heard from reliable source that the Kings’ sale to Hansen-Ballmer in Seattle is done deal. Source said price of the sale is $525 million. The source said further that the Maloofs will have no stake or decision-making with Seattle team and are out.
On his radio show in the Bay Area Steinmetz said more, via CSNBayArea.com.
“Reports broke two days ago that this was very close with Seattle, but this is done.
“Signed and inked — they were talking to Seattle two days ago, Adrian Woj (Adrian Wojnarowski of Yahoo! Sports and the NBC Sports Network) had a quote that it was at the one-yard line, which it was. At that point, my understanding is that the Maloofs did what about everybody does in that situation, they float that offer around for a day or two, see if they can get any other interest to drive up the price, which appears to have happened, as it’s up to $525M. So that’s possibly what happened.
Steinmetz is a very well connected reporter. He is not a guy prone to spreading crazy rumors. That should worry Sacramento fans. However, he is not a Seattle or Sacramento guy. Basically, take every report from anywhere you hear on this story with a grain of salt, until people are ready to put ink to paper.
If that number is accurate, it is $25 million more than the first offer, which to you and me is a lot of money but is just five percent of the sale price so it’s not that big a jump.
Would Joe and Gavin Maloof, who have a big emotional investment in being NBA owners, give up that stake for another five percent?
This is a big, complex deal with a lot of minority owners involved as well as the Maloof family owing $77 million to the city of Sacramento and another $125 million to the league from it’s credit line. That’s a lot of debt and how that is structured into the deal matters.
We’ll see when and if it gets done. My personal sense is it is getting closer, that it will likely get done before the March 1 deadline so they can file to relocate the team next season, but if the Maloofs pivoted at the last minute nobody would really be shocked.
Report: Tim Duncan, Tony Parker part of Spurs pitch to LaMarcus Aldridge (and they may be favorites)
Jun 30, 2015, 1:01 AM EDT
The Spurs are right at the front of the line with the Lakers to win Aldridge over.
Jun 29, 2015, 11:45 PM EDT
We knew Korver would need ankle surgery, but this is a bit of a surprise.
Jun 29, 2015, 10:45 PM EDT
Aldridge is expected to leave Portland, and the most recent report has the Lakers as the frontrunners to retain his services.
Jun 29, 2015, 9:45 PM EDT
Clippers remain frontrunners to retain Jordan’s services; Lakers, Mavericks also in the mix.
Jun 29, 2015, 8:45 PM EDT
Antic was with the Hawks the last two seasons.
Jun 29, 2015, 7:45 PM EDT
Davis is looking for a multi-year deal.
Jun 29, 2015, 6:50 PM EDT
The bottom line is this: Butler is going to be a Bull next season.
Jun 29, 2015, 6:16 PM EDT
The first rule of trading a player is to not look like you want to trade that player.
Jun 29, 2015, 5:20 PM EDT
Kind of hard to picture him going to the Raptors considering the other options on the table.
Jun 29, 2015, 4:31 PM EDT
The real question for Wade and his effort to leverage the Heat: Who is going to give him more money than Miami?
Jun 29, 2015, 3:44 PM EDT
The report says $12 million a year for Afflalo, that price seems steep.
Jun 29, 2015, 3:18 PM EDT
They are trying to keep those two while dealing Joe Johnson and Deron Williams.
Jun 29, 2015, 2:46 PM EDT
Expect the Bledsoe drama to play out through the summer. Again.
Jun 29, 2015, 1:55 PM EDT
He has more leverage this way, can get a longer deal.
Jun 29, 2015, 1:24 PM EDT
Doesn’t Butler strike you as the kind of veteran the Spurs bring in and he’s rejuvenated?
Jun 29, 2015, 12:44 PM EDT
The question is only what length of contract Love will sign.
Jun 29, 2015, 11:50 AM EDT
Where is Wade going to find a better deal on the open market?
Jun 29, 2015, 11:10 AM EDT
Stan Van Gundy’s offense doesn’t really fit two traditional bigs.
Jun 29, 2015, 10:37 AM EDT
There is interest in Joe Johnson out there, but his $24.9 million salary limits it.
Jun 29, 2015, 9:57 AM EDT
The Wizards would like to find a stretch four this summer then play Nene more as a backup to Gortat.
- Report: Chicago Bulls give Jimmy Butler max qualifying offer 17
- Report: Dwyane Wade will not opt-in with Heat, to become free agent (as expected) 25
- Report: Knicks front runner to land Arron Afflalo (and Greg Monroe, too) 27
- Report: Luol Deng surprises Miami, opts in for 2015-16 season 30
- Report: Sense around league is Kevin Love will re-sign with Cavaliers 31
- Report: As deadline nears, signs still point to Dwyane Wade opting out, becoming free agent 40
- Report: Dallas most likely team to lure DeAndre Jordan from Clippers, Chandler Parsons already recruiting 24
- Report: Lakers would still trade D’Angelo Russell for DeMarcus Cousins straight up. Kings wouldn’t. 30