May 10, 2013, 3:53 PM EST
What NBA commissioner David Stern has said from the start is that he did not want a pure bidding war for the Sacramento Kings. In part because that puts more money in the pockets of the Maloof family, and who wants that?
But after losing out when the NBA’s relocation committee unanimously recommended against the move of the Kings, essentially killing the sale to his Seattle based group — instead essentially favoring a matching bid from Sacramento — Seattle’s Chris Hansen essentially has turned to a bidding war.
The Seattle group upped its valuation of the team by $75 million to $625 million total, Hansen announced on sonicsarena.com (first reported by Chris Daniels at King5.com). That would up their out of pocket money (they are buying 65 percent of the team) by about $49 million.
“In an effort to further demonstrate the extent of our commitment to bring basketball back to Seattle, we have elected to voluntarily increase our proposed purchase price for the Sacramento Kings NBA Franchise by $75 million — from an enterprise value of $550 million to $625 million,” Hansen wrote. “In conjunction with our revised offer, we have also guaranteed to the NBA that the Franchise would be a revenue sharing payer in all years in Seattle.”
We’ll see, but I doubt it matters — what owners have said about the decision (and before) that this was not about Seattle’s offer being bad so much as Sacramento rallying like pro sports leagues want their cities to do to save a team.
Our man on the ground on this issue, Aaron Bruski, is hearing the same thing.
Sacramento officials don’t seem too concerned.
“We feel very confident about the position we are in right now,” Sacramento Mayor Kevin Johnson said in a released statement. “The NBA leadership and owners have always said that their decision would not be dictated by a bidding war. This was always about whether Sacramento, a community that has supported the NBA for 28 years, can put together a plan and organization to ensure the franchise can rebuild and thrive. The ownership group, the city, and the community have shown the NBA, without any shred of doubt, that the Sacramento Kings belong in Sacramento. I believe the NBA owners realize that there is far more to think about than just an increased bid.”
This feels more like Hansen is just making a backcourt heave at the buzzer. That said, it could put pressure on the league in regards to an expansion team, it also could help if he decides to go to court on anti-trust grounds.
Months ago the Maloofs had struck a deal to sell the team to a Seattle group led by venture capitalist Hansen and Microsoft CEO Steve Ballmer. From Stern on down the league had called this a good offer that included a new stadium and more.
However, rallied by Mayor Kevin Johnson in Sacramento, that city put together a counter-offer that was led by their own billionaire — Vivek Ranadive, a Silicon Valley guy who is a minority owner of the Warriors — and they had plans for a new stadium as well.
As several owners said off the record — and some now-deleted twitter DMs from Heat owner Micky Arison explained — the owners backed Sacramento because the incumbent had rallied to put together a public-private partnership that is the kind of thing the league wants to see. It was really not about Seattle losing so much as Sacramento winning.
Although Hansen and Seattle still felt like they lost — and like they were used as leverage to force a better deal out of another city.
So they upped the offer to put more pressure on the deal. We’ll see if it matters, but you know how often backcourt shots at the buzzer fall.
Dec 19, 2014, 1:01 AM EST
Rondo moves the Mavs into contender status in the West. Problem is that is a crowded field.
Dec 19, 2014, 12:46 AM EST
The team officially described the sprain as “mild.”
Dec 19, 2014, 12:02 AM EST
Makes the haul even less impressive for Boston.
Dec 18, 2014, 11:00 PM EST
Phil responds to an article ripping the Knicks for making the deal.
Dec 18, 2014, 10:00 PM EST
Bryant’s contract runs through 2016.
Dec 18, 2014, 9:15 PM EST
Dec 18, 2014, 8:15 PM EST
The Rookie of the Year race is pretty dull now, frankly.
Dec 18, 2014, 7:35 PM EST
Anthony has been advised that sitting out would be smart.
Dec 18, 2014, 6:55 PM EST
The foul was upgraded to a Flagrant 2.
Dec 18, 2014, 6:03 PM EST
The Mavs send three players and two picks to Boston.
Dec 18, 2014, 5:30 PM EST
They don’t want to give up picks.
Dec 18, 2014, 4:45 PM EST
Spurs star made same clutch shot a decade ago against Lakers
Dec 18, 2014, 4:05 PM EST
Down goes Rocky, down goes Rocky
Dec 18, 2014, 3:40 PM EST
Trail Blazers guard just waiting to check into game, when his personal space gets violated
Dec 18, 2014, 3:09 PM EST
The Warriors are +15.8 per 100 when he is on the court. They will miss him.
Dec 18, 2014, 3:03 PM EST
Celtics forward shows up Magic
Dec 18, 2014, 2:28 PM EST
Updated with Lakers’ reported offer
Dec 18, 2014, 1:36 PM EST
Trade talks for Celtics point guard heating up
Dec 18, 2014, 12:55 PM EST
Where does this rank among LeBron’s most-lopsided losses?
Dec 18, 2014, 12:22 PM EST
It would be very difficult for the Clippers to find a deal Minnesota would like.
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