Apr 3, 2013, 12:47 PM EDT
The decision on where the Kings tip off their games next season will partially be decided in a Manhattan hotel conference on Wednesday.
Groups representing both the Seattle group that has a deal to purchase the Kings with plans to move them north, and the Sacramento group looking to keep the Kings in town, are making pitches to as many as a dozen current NBA owners, the members of the combined sale and relocation committees of the Board of Governors.
The final decision on the Kings sale — if the Maloof family can sell to the Seattle group and if the team can move — will be voted on by the full Board of Governors (the NBA owners) when they meet April 18. However, the recommendations of this joint committee looking into the details will go a long way in influencing the owners on that vote.
The Seattle Group is led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer. They have an agreement to purchase 65 percent of the team, which is valued at $525 million, and have applied for relocation. The team would play in the Key Arena in Seattle for a few seasons while a new arena is constructed (it is in environmental review). David Stern has called this a very strong offer — a lot of money behind it, arena plans underway, a basketball-hungry market (44,000 people already pledged to buy season tickets) with great demographics, a bigger (and wealthier) media market, and a great NBA history.
But Sacramento, led by Mayor Kevin Johnson, has put together a strong counter offer. By bringing in billionaire Vivek Ranadive to go with 24-Hour Fitness owner to lead a group buying the team, and with Ron Burkle behind a deal to get a new arena done in downtown Sacramento, Johnson has put together a counter offer that they say matches the money and arena of Seattle. He also got the Sacramento City Council to agree to $258 million in investment in the arena plans (to be paid off through parking fees and other services).
Sacramento’s best card to play is simply this — other NBA owners of middle to small market teams will ask their cities for money and help getting a new arena built in the next decade, with the threat of losing the team as the leverage (something every pro sports league does). If Sacramento does everything right and still loses the team, what happens to that leverage?
Seattle’s group can say they have a sale agreement in place, that they are a strong ownership group and that the NBA brass has wanted to return to the Seattle market since the Sonics left to become the Thunder.
If you’re thinking expansion, David Stern has shot that down because a majority of owners are opposed. That idea is dead.
While we will get statements all around on Wednesday from both sides, what really matters is what leaks out of owners and that committee in the coming days and weeks leading up to the April 18 big votes. Look for this to be essentially decided before all the owners get in the same room together.
Sep 21, 2014, 8:00 AM EDT
Sep 20, 2014, 11:00 PM EDT
Rubio may not like it, but Minnesota can retain his rights in restricted free agency next summer.
Sep 20, 2014, 9:30 PM EDT
Big man from Mexico preferred to remain in the NBA, but took the payday to return overseas.
Sep 20, 2014, 8:00 PM EDT
Watch it all the way through.
Sep 20, 2014, 6:30 PM EDT
With two years left in the NBA, Bryant has an eye on life after basketball.
Sep 20, 2014, 5:00 PM EDT
A previous report said Gibson was less than thrilled with remaining a reserve.
Sep 20, 2014, 3:30 PM EDT
Blatche can play, but the NBA offers simply weren’t there.
Sep 20, 2014, 2:00 PM EDT
10-story-high banner will return after a similar one was taken down when James left in 2010.
Sep 20, 2014, 12:28 PM EDT
Sessions could start at point guard for Sacramento.
Sep 20, 2014, 11:00 AM EDT
Unsurprisingly, Curry supports his backcourt mate 100 percent.
Sep 20, 2014, 9:30 AM EDT
He had toe surgery in mid-August.
Sep 20, 2014, 8:00 AM EDT
This is what you want out of these guys.
Tyson Chandler says negative comments questioning his impact on chemistry with Knicks were ‘the ultimate shock’
Sep 19, 2014, 11:00 PM EDT
Chandler, now with Dallas, fires back at the Knicks.
Sep 19, 2014, 9:45 PM EDT
Chapman played four years for the Suns, and is facing charges in Scottsdale, AZ.
Sep 19, 2014, 8:15 PM EDT
Must-read quote from Bogut on how he does NOT want to be perceived.
Sep 19, 2014, 5:59 PM EDT
This post is here to make life easier for you when you want to find these at the end of the season and point out how wrong we were.
UPDATED Report: Timberwolves make push for Eric Bledsoe, Suns not interested in sign-and-trade talks
Sep 19, 2014, 5:11 PM EDT
It has to be a sign and trade and Minnesota doesn’t have a lot of leverage here.
Sep 19, 2014, 4:00 PM EDT
“It was more just becoming a better all-around player, trying to take the next step and become a leader on this team and will my team to win.” —Jeff Green
Sep 19, 2014, 3:28 PM EDT
And you wonder why Phil Jackson is worth $12 million a year to the Knicks organization.
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- Andray Blatche signs deal to play in China next season 6
- Is Klay Thompson the best two-way shooting guard? Stephen Curry would ‘put him up against anybody.’ 16
- UPDATED Report: Timberwolves make push for Eric Bledsoe, Suns not interested in sign-and-trade talks 39
- LeBron James unveils latest signature shoe from Nike: The LEBRON 12 12
- ProBasketballTalk 2014-15 Preview: Toronto Raptors 10
- Dwyane Wade credits David Stern’s dress code for improving his style 18
- Kevin Durant has grown close with Karl Malone 15