Jan 11, 2013, 1:24 PM EST
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.
Jan 26, 2015, 1:16 AM EST
Could the Pelicans make the playoffs?
Jan 26, 2015, 12:36 AM EST
It’s not a rumor, Curry can dunk, too.
Lakers’ rookies get to take care of baby dolls for rest of season. May be more interesting than Lakers’ games.
Jan 25, 2015, 10:29 PM EST
This kind of hazing happens all over the league.
Jan 25, 2015, 9:04 PM EST
The Nets and Hornets talked but did not pull the trigger on a Brook Lopez trade recently.
Jan 25, 2015, 8:30 PM EST
Aldridge is attempting to play through a thumb tear.
Jan 25, 2015, 7:00 PM EST
In only 24 minutes.
Jan 25, 2015, 5:30 PM EST
Deng played his first game in Chicago as a member of a visiting team on Sunday.
Jan 25, 2015, 4:00 PM EST
Dragic can opt out this summer.
Jan 25, 2015, 2:44 PM EST
He would be back for training camp next season.
Jan 25, 2015, 2:00 PM EST
They need a Brandon Jennings replacement.
Knicks’ Lance Thomas travels, double dribbles and steps out of bounds without any call from the officials (VIDEO)
Jan 25, 2015, 12:30 PM EST
Two referees failed to blow the whistle, despite multiple violations occurring in the same sequence.
Jan 25, 2015, 11:00 AM EST
Both players successfully tricked the referees into calling a foul.
Jan 25, 2015, 9:30 AM EST
He’s just 23 behind Jason Terry for third most on the All-Time list.
Jan 25, 2015, 8:00 AM EST
He hd 26 points and 9 boards. That brace worked out pretty well.
Jan 25, 2015, 1:01 AM EST
Can we just get through the rest of this season without any more major NBA injuries, please?
Jan 24, 2015, 11:00 PM EST
Brad Stevens reportedly likes Prince, so a buyout may not be in the cards.
Derek Fisher didn’t realize motivating his players would be such a big part of being an NBA head coach
Jan 24, 2015, 9:30 PM EST
Fisher played 18 years, and claims that his motivation always came from within.
After being fined for obscene gesture, Dwyane Wade asks NBA to improve on ways it protects players from fans
Jan 24, 2015, 8:00 PM EST
Wade was fined for flipping off some fans who he believed crossed the line.
Jan 24, 2015, 6:30 PM EST
“He had his chance to reach out,” Waiters said.
Jan 24, 2015, 5:00 PM EST
Howard left the game after just eight minutes and did not return.
- Five Things We Learned in NBA Sunday: Thunder don’t look like playoff team yet 0
- Report: Hornets, Nets talking possible Lance Stephenson for Joe Johnson trade 6
- Hassan Whiteside posts 14-point, 13-rebound, 12-block triple-double in Heat win over Bulls (VIDEO) 30
- Brandon Jennings leaves game in wheelchair, may have torn Achilles 8
- LaMarcus Aldridge decides to delay surgery, will return for Blazers Saturday vs. Wizards 7
- WATCH: Kobe Bryant’s doctor explains diagnosis to him following exam of injured shoulder 10
- Report: Cavaliers players say they ‘had lost faith’ due to lack of depth and roster construction 46
- Kobe Bryant will be back next season, he can’t resist the challenge 20