Apr 25, 2013, 1:46 PM EDT
While both the Seattle and Sacramento teams have been trying to spin events since the NBA owners met in New York last week, but they both agree on one thing:
The recommendation of the NBA’s sale and relocation committee will almost certainly hold sway over the course of the Kings’ franchise.
That committee will meet next Monday via conference call, according to multiple reports. At that time the committee will issue it’s recommendation and send that to the other owners.
Seven days after that the owners can vote on the matter (NBA bylaws call for the delay). That vote can be done by conference call or email, the owners do not have to reconvene.
The Maloofs have a deal in place to sell the Kings to a Seattle group is led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer. They would purchase 65 percent of the team, which is valued at $550 million (an increased offer), 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).
Sacramento Mayor Kevin Johnson led a charge to 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. Their plans also call for a new arena.
All things being equal, several owners have called this a toss-up but seem hesitant to move a team out of a market that has put in the effort Sacramento has to retain the team. The question is are all things equal with the bid? Those owners also realize that Seattle is a larger, wealthier market and that would be handy in future television negotiations.
It requires two-thirds of the owners to approve the sale, meaning just eight owners can block it.
One way or another, a good ownership group is going to lose out. David Stern has shot down any talk of expansion saying the majority of owners do not wish to further divide up the revenue pie.
Mar 28, 2015, 12:30 PM EDT
Clark played key bench minutes the same day he was signed.
Mar 28, 2015, 11:00 AM EDT
Cuban went off after the Mavericks were blown out by the Spurs.
Mar 28, 2015, 9:45 AM EDT
Warriors keep rolling, while the Grizzlies are starting to feel like a first round loss.
Mar 28, 2015, 8:30 AM EDT
Highlight-reel play came near the end of a loss to the Nets.
Mar 27, 2015, 11:44 PM EDT
LeBron refused to be dismissive of a seemingly harmless regular season loss.
Mar 27, 2015, 10:30 PM EDT
O’Neal made the remarks while being inducted into the Orlando Magic Hall of Fame.
Mar 27, 2015, 9:30 PM EDT
The injuries continue to pile up for the Rockets.
Mar 27, 2015, 8:30 PM EDT
The battle between Green and Doc Rivers continues in the funniest of ways.
Mar 27, 2015, 7:25 PM EDT
Blatt knows James is unlikely to get the league-wide award this season.
Mar 27, 2015, 6:12 PM EDT
The Thunder defense has become a mess, which is bad for the playoffs.
Mar 27, 2015, 5:18 PM EDT
What is in James Harden’s beard?
Mar 27, 2015, 4:32 PM EDT
He is likely a middle second round pick if he comes out.
Mar 27, 2015, 3:45 PM EDT
It’s pretty spot on. And cold-blooded.
Mar 27, 2015, 3:09 PM EDT
He should be back next season, the final one of this contract with Oklahoma City.
Mar 27, 2015, 2:16 PM EDT
Drake and Lou Williams are tight.
Mar 27, 2015, 1:32 PM EDT
Cousey said not Shaq, not Ewing, nobody reminded him of Russell like Whiteside.
Mar 27, 2015, 12:42 PM EDT
You do not see this every day.
Mar 27, 2015, 11:55 AM EDT
As everyone braces for 2016 spike, another big bump could follow
Mar 27, 2015, 10:55 AM EDT
LeBron James and a lot of stature are gone, but with the more-modest goal of just making the playoffs, Miami’s new point guard embracing the challenge
Mar 27, 2015, 10:19 AM EDT
Pelicans star missed eight free throws in setback to Houston
- Mark Cuban rips officials, NBA: ‘It’s criminal’ how Monta Ellis doesn’t get calls 8
- Shaquille O’Neal says he regrets leaving Magic for Lakers 28
- Cavaliers coach David Blatt: ‘LeBron James is our MVP’ 20
- No Durant, what does that mean for Thunder in these playoffs? Trouble. 15
- Kevin Durant to have third foot surgery; is done for season, playoffs 38
- Goran Dragic leading feisty Heat’s playoff push 28
- NBA Draft prospect matchups to watch in NCAA Tourament this weekend 2
- Report: LeBron James frustrated with Kevin Love for not fitting in 85