In efforts to, in Chris Hansen’s words “demonstrate the extent of their commitment”, the Seattle based Hansen-Ballmer group has raised their bid to bring the Sacramento Kings to Seattle by $49 million dollars (65% of $75 million). The Hansen-Ballmer group is now offering $625 million (valuation) after the NBA’s Board of Governors recently shot down their plan to relocate the franchise.
Part of Hansen’s release can be read below – the full release can be read here:
In an effort to further demonstrate the extent of our commitment to bring basketball back to Seattle, we have elected to voluntarily increase our proposed purchase price for the Sacramento Kings NBA Franchise by $75 million — from an enterprise value of $550 million to $625 million. In conjunction with our revised offer, we have also guaranteed to the NBA that the Franchise would be a revenue sharing payer in all years in Seattle.
The increase in the bid for the franchise comes on the heels of a leaked conversation on Twitter where a Seattle fan exchanged direct messages with Miami Heat owner Micky Arison in which Arison, while expressing support for Seattle, said the fight was never about Seattle against Sacramento, rather, Sacramento against Sacramento. What had Sacramento done to lose their team? Nothing, according to Arison and fellow NBA owners.
How the NBA deals with the price increase remains to be seen (it’s unlikely they do anything about it – they’ve yet to acknowledge to the first increase made by Hansen), though, those with ties to Sacramento sources say the increase in the purchase price should not change the course of the current direction.