Apparently feeling pressure from the Sacramento group, the Hansen-Ballmer group has increased their original offer for the Sacramento Kings franchise by $25 million, this according to a handful of sources.
Per Tony Bizjak of the Sacramento Bee:
Maloof spokesman Eric Rose confirmed Chris Hansen website is correct. The deal has been upped $25m. He declined further comment.
The increase puts the team valuation at a record $550 million dollars, nearly $100 million dollars than the Golden State Warriors who sold for a record $450 million in 2010.
However, there are some questions as to the actual numbers being tossed around as Hansen’s update post on Sonics Arena has lead to some confusion:
We would like to announce that we have reached an agreement with the Maloofs to raise the price we are offering to purchase the controlling interest in the Sacramento Kings NBA franchise by $25 million — from an enterprise value of $525 million to an enterprise value of $550 million
Mathematically, that increase would lead to the offer being an additional $16.5 million (per franchise valuation), not $25 million. It could be a mistake in the number crunching or the increase might be only $16.5 instead of the suggested $25, either way, the Hansen-Ballmer group has indeed increased their offer for the Sacramento franchise, a move that was undoubtedly calculated by the Maloof family who are trying to squeeze every penny out of this deal. Their recently imposed deadline to the Sacramento group most certainly moved this snowball a bit further down the mountain and continues to increase the value of one of the Kings’ franchise.
Update: Bob Condotta of the Seattle Times says the increase is about $17 million, not the suggested $25 million:
As others have noted, since Hansen has bought 65 percent of team, raising value to 550 million means he raised offer tonight by 17 million..
Update Two: Now Condotta says he is unsure and the bid may have indeed been $25 million, though, says either way it may not matter much and there should be more clarity on it in the future:
One more clarification, am now told it is correct that Hansen's actual increase tonight is $17 million, based on 65 percent share of team. .
— Bob Condotta (@bcondotta) April 13, 2013
Sac sources think Hansen $25M increase is sign of desperation. Say could be maneuver to get $30M back. Confident in no bidding war.#nbakings
— Nick Monacelli (@nickmonacelli) April 13, 2013