Apr 05, 2013; Sacramento, CA, USA; Sacramento Kings fans hold up a sign during the fourth quarter of the game against the Dallas Mavericks at Sleep Train Arena. The Dallas Mavericks defeated the Sacramento Kings 117-108. Mandatory Credit: Ed Szczepanski-USA TODAY Sports

Multiple Reports That Sacramento Informs NBA They Will Match Seattle Offer For Kings

There were suggestions yesterday from USA Today’s Sam Amick as well as Pro Basketball Talk’s Aaron Bruski that the potential Sacramento Kings ownership group would match the offer made by the Seattle group for the Kings franchise and now Ryan Lillis of the Sacramento Bee is reporting the same.

Per Lillis:

Source: Sacramento #NBAKings contingent has notified the #NBA it will match the offer on the table from Seattle.

The potential Kings ownership group originally fell short in their initial bid for the Kings franchise – some suggestions saying nearly $30 million dollars short as the $30 million dollar figure was the amount the Hansen-Ballmer group delivered to the Maloof family in a non-refundable deposit (a number that the Sacramento group didn’t deem necessary to pay). The NBA of course wouldn’t allow the Hansen-Ballmer group to lose out on $30 million dollars if the relocation/sale was denied, thus, this may have been the reasoning behind the offer not being “up to par” originally as NBA Commissioner David Stern suggested.

However, sources have said that potential Kings majority owner Vivek Ranadive would easily match the $30 million price tag and according to Lillis (along with Amick and Bruski), it appears the offer has been matched.

In addition, Lillis is also reporting that the Sacramento group has been turning away wealthy investors who were clamoring to join the Kings’ potential new ownership group:

Source also says that Sacramento contingent has begun turning away wealthy investors seeking to be part of ownership group

The group is not expected to meet the Maloof imposed deadline of 5PM tonight for a “matching” offer as they’re only concerned with NBA imposed deadlines.

Update: David Aldridge reports the Maloof family has “extended” the 5PM deadline….l…o…l

Next Kings Game Full schedule »
Friday, Oct 3131 Oct7:00Portland Trail BlazersBuy Tickets

Tags: Relocation Sacramento Kings Seattle Sonics

comments powered by Disqus