Sacramento Mayor and former NBA player Kevin Johnson announced today at his press conference that in the past 72 hours, he has raised $19 million dollars from 19 potential LOCAL minority owners who want to keep the Kings in Sacramento. Each investor has pledged $1 million dollars at this early stage.
Johnson’s original intent was to pool together a small handful of investors and hopefully raise $3-$5 million, but the Mayor said he was overwhelmed with calls and contributions – calls from people he didn’t even know wanting to keep the Kings local.
Keep in mind – these are simply local investors – not the rumored “whale(s)” which are supposed to be announced at a later date – potentially by the end of the week (though KJ says they should be in place by week end, even if they’re not announced). The “whale(s)” are to fund the majority of the group’s finances – the “Chris Hansen” of the Kings’ group, in simple terms.
Mayor Johnson plans to follow the formula used by San Francisco which allowed the city to keep the Giants after they were due to move to Tampa Bay.
The 19 investors are as followed:
David Taylor, Kevin Nagel, Larry Kelly, Phil Oates, Ali Yusefi, Rob Miller, Kyriakos Tsakopolous, Steve Ayre, Mike & Kevin Fahn, Nate Allen, Mark Otero, John Stone, Scott Powell, Aaron Reeves, Dale Carlsen, Brad Jenkins and two anonymous investors.