Feb 19, 2013, 5:44 PM EDT
There is a lot to understand when it comes to the potential sale of Sacramento Kings. As NBA commissioner David Stern laid out Saturday, the 29 owners deciding the Kings’ future home face a complex story involving a great ownership group in Seattle and a compelling story out of Sacramento.
Seattle’s ownership group already has executed a contract to buy the Kings from the Maloof family. If Sacramento mayor Kevin Johnson produces a “fair and competitive” offer – including a significant public subsidy for a new arena – it would potentially give the owners two viable options.
A sale agreement would need to be approved by a three-quarters vote of NBA owners. A relocation approval must pass with a majority vote. Both issues are intertwined, as Stern has combined both relocation and finance committees to review the matter with a vote likely occurring at the Board of Governors meeting in mid-April.
The Maloofs have already filed for relocation to Seattle, and despite reports out of Seattle that the deal has already been vetted Stern said on Saturday that the committees are still reviewing the sale and relocation bid.
Early reports mirrored the efforts of the Seattle group to portray an NBA decision to allow the Kings to move to Seattle as a done deal. Sources have told PBT that Sacramento would be given a real chance to produce a ‘fair and competitive’ offer to keep the team in California’s capitol.
Stern’s comments have echoed that sentiment leading up to this week, and on Saturday he said it was “plausible” that the Kings remain in Sacramento, and that a decision would be made on a number of criteria but that “economics” would not be the lone factor. Stern’s comments are rooted in the multitude of issues that will play a role in the BOG’s decision-making that aren’t tied to franchise price, but overlook the “economics” factor.
“I don’t think it’s a bidding war….” Stern said last week. “There’s a series of issues that are defined by our constitution that have to be considered. One of the things that our board is mandated to consider is the support for the team in the prior city. So there are real issues for the board to consider, about the buildings, about the likelihood they will be built, about the support from the cities.”
Stern also addressed the idea of expansion on Saturday, an idea that would give the league a potential out to keep both cities and potential ownership groups happy.
“I don’t see any scenario where both cities are happy….” Stern said. “There’s a large group of owners who believe that expansion as an economic matter; is a neutral thing. At least the way we’ve done it to date, you get a lot of money in and in return for that you cut the new team in for a large and growing source of revenue from national TV, national licensing, and all things international and digital. And then it doesn’t really seem to make that much additional sense as the increased revenue that demands to the gross (basketball-related income) and increased each player costs and the like.
“So it has to be parsed and analyzed but right now given that we’ve just come through an intriguing collective bargaining negotiation and coupled it with specific revenue sharing, over $200 million, I think the sentiment is to let it all settle and assess how we are doing and what the projections are for how we’ll do.”
Multiple sources told PBT that even if expansion were a possibility that it would be extremely unlikely for the league to express support for it.
This will continue as a two-city race for one team to be decided by the Board of Governors in the coming months.
Jul 7, 2015, 7:42 PM EDT
Villanueva will back up Dirk Nowitzki as floor-spreading power forward
Jul 7, 2015, 6:46 PM EDT
Clippers having a nice offseason – minus that one move that defines their offseason
Jul 7, 2015, 6:08 PM EDT
The one-year deal keeps their cap space alive next summer to chase Kevin Durant.
Jul 7, 2015, 5:45 PM EDT
Dallas had a good July, too.
Jul 7, 2015, 5:15 PM EDT
The Knicks and Magic essentially swap reserve centers.
Jul 7, 2015, 4:35 PM EDT
“Listen, we had one priority this summer, and that was to re-sign DJ, and we missed out on that.” — J.J. Redick on the Clippers summer.
Jul 7, 2015, 4:10 PM EDT
The Bulls are getting the band back together.
Jul 7, 2015, 3:25 PM EDT
The Lakers were not free agency losers like some think.
Jul 7, 2015, 3:06 PM EDT
Look for the Warriors to waive Wallace using the stretch provision.
Jul 7, 2015, 2:44 PM EDT
Julius Randle, L.A.’s first round pick last year, missed the Summer League opener due to a contract issue.
Jul 7, 2015, 1:57 PM EDT
Exum looked great, the injury did not.
Jul 7, 2015, 1:05 PM EDT
The reigning Sixth Man of the Year signed a free agent deal with the Lakers.
Dwyane Wade cites his scoring average when asked how long he’ll continue to play: ‘I think I’ll stay around a while’
Jul 7, 2015, 12:15 PM EDT
Wade was the third leading scorer in the East last season, but missed 20 games due to a combination rest and injury.
Jul 7, 2015, 11:31 AM EDT
Teams aren’t allowed to discuss deals during the moratorium period, which is still going on.
Jul 7, 2015, 10:52 AM EDT
KG will be back for a record 21st NBA season.
Jul 7, 2015, 10:40 AM EDT
Cleveland just added Mo Williams, but Smith (and Matthew Dellavedova) will likely be back.
Jul 7, 2015, 9:55 AM EDT
The 12th overall pick hasn’t practiced with the Jazz, and remains unsigned. But the GM says “No worries.”
Jul 7, 2015, 9:15 AM EDT
Okafor had some impressive moments.
Jul 7, 2015, 8:30 AM EDT
This is the kind of thing that all that new television revenue should go to.
Jul 7, 2015, 8:00 AM EDT
All I have ever argued about LeBron’s legacy is that you can’t compare it right now to Magic or Jordan or Bird or whoever because he’s still playing at the peak of his game.
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- Report: Kevin Garnett to re-sign with Timberwolves 16
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- Report: Cavaliers, Clippers discussing Jamal Crawford for Brendan Haywood trade 26
- Reports: David West agrees to veteran minimum deal to play for Spurs 80