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.
Bucks president threatens arena financing must be completed in 10 days or team ‘will be gone from the state of Wisconsin,’ backs off
Apr 22, 2015, 12:11 AM EDT
Bucks can set deadlines, but they lack leverage
Apr 21, 2015, 11:30 PM EDT
Washington wins Game 2, 117-106, in Toronto
Apr 21, 2015, 10:45 PM EDT
LeBron to Love, LeBron from Irving
Apr 21, 2015, 10:00 PM EDT
LeBron had 30, Kyrie Irving added 26 to give Cleveland the 2-0 lead in the series.
Apr 21, 2015, 9:41 PM EDT
Devin Harris also out Game 2 for Mavericks
LeBron James on Pat Riley saying ‘No more smiling faces with hidden agendas:’ ‘I don’t care about nonsense’
Apr 21, 2015, 8:45 PM EDT
LeBron says he’s focused on helping the Cavaliers in the playoffs
Apr 21, 2015, 8:00 PM EDT
Bulls forward strained knee in scuffle with Zaza Pachulia
Apr 21, 2015, 7:15 PM EDT
Expect to see a lot more Kawhi Leonard (and Danny Green) on Paul from the start.
Apr 21, 2015, 6:30 PM EDT
He said it was a running joke with a teammate.
Apr 21, 2015, 5:40 PM EDT
Lillard was 5-of-21 in Game 1.
Apr 21, 2015, 4:51 PM EDT
The twins were allegedly part of a group that beat up a man outside a rec league basketball tournament.
Apr 21, 2015, 4:14 PM EDT
Horford is going to have work to do on the defensive end slowing down Brook Lopez.
Apr 21, 2015, 3:30 PM EDT
Well done, Zach Randolph and the Memphis Grizzlies.
Apr 21, 2015, 2:43 PM EDT
Teletovic was originally ruled out for the season on Jan. 23.
Apr 21, 2015, 1:50 PM EDT
Is nothing sacred?
Nets coach Lionel Hollins isn’t focused on stopping Kyle Korver: ‘It’s not like we’re talking Stephen Curry’
Apr 21, 2015, 1:10 PM EDT
Korver led the Hawks with 21 points in Atlanta’s Game 1 win over the Nets.
Apr 21, 2015, 12:30 PM EDT
He’ll consider everything.
Apr 21, 2015, 11:50 AM EDT
Another report has Aldridge at no better than 50-50 to re-sign with the Blazers.
Apr 21, 2015, 11:10 AM EDT
Williams will be an unrestricted free agent this summer.
Apr 21, 2015, 10:26 AM EDT
Full voting results enclosed.
- LeBron’s 30-point performance leads Cavaliers to hard-fought Game 2 win over Celtics 6
- PBT Extra matchups to watch: Spurs look for ways to contain Chris Paul 5
- PBT Extra matchups to watch: Can Memphis keep Damian Lillard in check? 0
- Report: Suns’ Morris twins charged with aggravated assault 13
- Hawks’ Mike Budenholzer named 2014-15 NBA Coach of the Year 10
- With Anthony Davis and Pelicans drained, Warriors deliver down the stretch 12
- PBT Extra matchup to watch: Can Toronto keep Paul Pierce quiet on the court? 6
- Bulls overcome ugly start to take 2-0 series lead over Bucks 14