In recent days, we discussed the possibility of the Kings remaining in Sacramento thanks to some financial situations (namely loans and money owed to the city) that could reduce the amount of money a prospective buyer would need to cough up in a sale for the struggling franchise.
While the Hansen based group is offering a reported $500-$525 million dollars, much of that is going to be used to pay back debts, thus significantly reducing the price that the Maloof family pockets. Given that, a lower offer from a group willing to keep the Kings in Sacramento could entice the Maloof family, being the franchise debts would be essentially picked up buy the new ownership – allowing the Maloof’s to get off the hook.
Speaking of new ownership – Mayor Kevin Johnson suggested that multiple buyers looking to keep the Kings in Sacramento were out there and thanks to CBS’s Ken Berger, one of the names may have been found.
Mark Mastrov, former owner of 24-Hour Fitness and somebody with some significant NBA connections (think Steve Nash) has apparent interest in buying the franchise and has already made an offer to the Maloofs, this according to Berger:
Mastrov met with the Maloofs recently, and two league sources speaking on condition of anonymity said he has made a formal offer.
What the offer is – we don’t know but we do know that he alone doesn’t have the type of financials to compete with the Hansen based group dollar for dollar in its current state, so incurring the debt would be a much needed prospect.