May 10, 2013, 3:53 PM EDT
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.
Jul 3, 2015, 2:19 AM EDT
Sacramento had made a big push but again missed out on their target.
Jul 2, 2015, 11:31 PM EDT
Martin had hoped to return full-time last season, but the opportunity never materialized.
Jul 2, 2015, 10:34 PM EDT
Sacramento needs to overpay much more than that to lure free agents.
Jul 2, 2015, 9:22 PM EDT
Lopez is solid, and New York and L.A. need talent after striking out with the big names thus far.
Report: Damian Lillard planning L.A. visit to try to convince LaMarcus Aldridge to re-sign with Blazers
Jul 2, 2015, 8:21 PM EDT
Interesting wrinkle to the Aldridge free agency saga.
Jul 2, 2015, 7:07 PM EDT
The Wizards will only give up a future second-rounder.
Jul 2, 2015, 6:55 PM EDT
Butler just signed a five-year deal to stay in Chicago.
Jul 2, 2015, 6:30 PM EDT
Toronto makes the list with DeMarre Carroll.
Jul 2, 2015, 6:08 PM EDT
Report: Mavericks and Pacers will discuss Monta Ellis/Roy Hibbert sign-and-trade if Mavs don’t get DeAndre Jordan
Jul 2, 2015, 5:24 PM EDT
The Pacers have been shopping Hibbert for a while.
Jul 2, 2015, 4:38 PM EDT
Aldridge doesn’t want to play center.
Jul 2, 2015, 4:37 PM EDT
It would take an unlikely sign-and-trade to make it happen.
Jul 2, 2015, 4:26 PM EDT
They want to “get it right.”
Jul 2, 2015, 4:25 PM EDT
Also, who got overpaid so far?
Jul 2, 2015, 3:49 PM EDT
Phoenix is clearing cap space to land LaMarcus Aldridge.
Jul 2, 2015, 3:11 PM EDT
Thompson and Cleveland were reportedly nearing $80 million-plus deal yesterday
Jul 2, 2015, 2:49 PM EDT
More writing on the wall of LaMarcus Aldridge’s exit
Jul 2, 2015, 2:06 PM EDT
Now, can the Spurs get LaMarcus Aldridge to complement him?
Jul 2, 2015, 1:45 PM EDT
Baynes will reportedly get three-year deal with player option
Jul 2, 2015, 1:23 PM EDT
Indiana shouldn’t feel good about this, even if it was their best option at this point
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