February 9, 2013; Sacramento, CA, USA; A Sacramento Kings fan holds up sign against the Maloof

Burkle-Mastrov Group To Use Minority Owners FROR To Keep Kings In Sacramento?

Some huge news from Carmichael Dave this morning as he just announced that Bob Cook, owner of the 7% share of the Sacramento Kings franchise currently held in bankruptcy limbo, will hopefully soon be in contact with the new Mastrov-Burkle ownership group to combine forces.

Per CD:

BREAKING: Bob Cook willing to speak to Burkle-Mastrov group to exit bankruptcy, fold shares into ownership group. Talks today.

Dave moments later also confirmed the long rumored, though, never completely defined suggestion that King minority owners hold the first right of refusal:

I have also been informed that Bob Cook also retains first right of refusal clause.

Both tidbits are huge pieces of news that could certainly alter the tides of the sale, assuming they’re both accurate and knowing what we know of CD and his sources, there’s zero reason to believe they aren’t completely legit.

Of course, the much talked about FROR, or first right of refusal, gives legal right to minority owners of the Sacramento Kings to bid on any potential shares up for sale before any other entities without previous ownership would be allowed to do so.

Update: CD wanted to confirm that in his original tweet, the source said Cook was “very eager” to speak to the Burkle-Mastrov group, not “willing”.

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Tags: Bob Cook Mark Mastrov Relocation Ron Burkle Sacramento Kings Seattle Supersonics

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