Apr 3, 2013, 7:23 PM EDT
The news you actually care about out of Wednesday’s combined meeting of the NBA owners’ sale and relocation committees will leak out over the next few days. That’s when we’ll see which side gained an advantage (if any) and where the owners are leaning on the question of where the Kings will play next season — Seattle or Sacramento.
In a Manhattan hotel Wednesday, both groups make their pitches to the owners.
“We heard a day full of extraordinary presentations of a complex real estate, arena, construction timelines, potential obstacles and team funding in two really great cities,” Stern said. “It was a long day without any breaks and both sides made, in my view, very, very strong presentations.”
Then he gave the only bit of real news to come directly out of the meeting — the owners may not be ready to vote come the Board of Governors’ meeting April 18-19.
“It’s not at all clear what our precise timeline is for a final determination here is because the most important thing is doing all the work that has to be done,” Stern said. “We’re doing it as fast as collectively can together. It may well slide past the board meeting, but I wouldn’t expect it, if it does, to slide by a lot. Because there’s a combined interest in having some clarity come to this situation.”
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 to take the team to Seattle. 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). They came out confident, according to reports.
However, whatever happened inside the room Sacramento apparently won the press conferences — they were looser. Sacramento Mayor Kevin Johnson, has put together a strong counter offer led by 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.
So now we wait. And we could be waiting more than just a couple weeks for the answer.
Aug 1, 2015, 8:00 PM EDT
That would be good news for the Spurs and bad news for the rest of the Western Conference.
Aug 1, 2015, 6:30 PM EDT
Noah spent most of last season limited by knee surgery.
Aug 1, 2015, 5:00 PM EDT
His $4.7 million salary for next season is unguaranteed.
Aug 1, 2015, 3:30 PM EDT
Paul is still in the running for a spot on the 2016 Olympic team.
Aug 1, 2015, 2:00 PM EDT
Will this lead to all 30 teams getting their own affiliates?
Hakeem Olajuwon and Dikembe Mutombo make surprise appearances for Team Africa in NBA exhibition game (VIDEO)
Aug 1, 2015, 12:30 PM EDT
Team Africa faced off against Team World in Johannesburg.
Aug 1, 2015, 11:00 AM EDT
Mbah a Moute signed a one-year deal with the Kings in July.
Aug 1, 2015, 9:30 AM EDT
Biyombo has worked with Hakeem Olajuwon this summer on post moves, other parts of his game.
Aug 1, 2015, 8:00 AM EDT
The Nets will be paying the price for their win-now era for a few years to come still.
Aug 1, 2015, 1:11 AM EDT
This is the right move, whether he decides to play in Rio or not.
Jul 31, 2015, 11:08 PM EDT
He looks like a guy who can live up to the No. 1 pick billing.
Jul 31, 2015, 10:26 PM EDT
Norris Cole is still looking for a bigger payday.
Jul 31, 2015, 9:31 PM EDT
Her credentials are unassailable.
Jul 31, 2015, 8:10 PM EDT
He is currently out on bond.
Jul 31, 2015, 7:15 PM EDT
Hill told the police he was “in a hurry.” I guess so.
Jul 31, 2015, 7:01 PM EDT
Neither guy is going to make a difference on the court for these teams. This was just moving some money around.
Jul 31, 2015, 5:46 PM EDT
Crabbe looked good in Las Vegas at Summer League.
Jul 31, 2015, 4:59 PM EDT
The Kings don’t really have the roster spot for him.
Jul 31, 2015, 4:11 PM EDT
Iowa Energy add Nicki Gross to coaching staff
Jul 31, 2015, 3:20 PM EDT
Will he accept the required tender?
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