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Sacramento or Seattle? Kings fate will be decided this week

Posted on 4/16/13 at 3:35 pm
Posted by Augustus
North Carolina
Member since Sep 2006
8290 posts
Posted on 4/16/13 at 3:35 pm
quote:

For the second time in three years, the Sacramento Kings will host their regular-season finale with the franchise's future uncertain. Hours before the Kings tipoff against the Los Angeles Clippers on Wednesday night, NBA owners will gather in a New York boardroom to begin deliberating where the team will be located next season.

Sacramento or Seattle?

Nobody quite knows for sure.

quote:

The Maloof family reached an agreement in January to sell a 65 percent controlling interest of the Kings to a group led by hedge-fund manager Chris Hansen at a total franchise valuation of $525 million, an NBA record. With pressure mounting from Sacramento's counteroffer to keep the team, Hansen announced last Friday he would ''voluntarily'' raise the purchase price to $550 million ''as a sign of our commitment to bring basketball back to our city.''

quote:

If any vote is taken, Seattle needs 23 of 30 owners to approve the sale of the team to the Hansen group. If the sale is approved, a second vote will be largely ceremonial to decide whether the Kings can move to Seattle. A simple majority - 16 votes - is all that's needed to approve relocation.

Led by Mayor Kevin Johnson, Sacramento has fought back over the past three months to make the sale and relocation of the Kings a real debate. Johnson pushed a non-binding financing plan for a $447 million downtown arena through the City Council - complete with a $258 million public subsidy - and lined up an ownership group that can compete with the Seattle contingent.

Full story.

Interested to see what the decision is. I thought for sure they were going to Seattle, but Sac has done a good job of putting together their own package.
Posted by NorthshoreTiger76
Pelicans, Saints, & LSU Fan
Member since May 2009
84225 posts
Posted on 4/16/13 at 3:36 pm to
they gone
Posted by Tmacelroy12
Houston
Member since Aug 2012
5489 posts
Posted on 4/16/13 at 3:56 pm to
quote:

led by hedge-fund manager Chris Hansen


Posted by TDawg1313
WA
Member since Jul 2009
12468 posts
Posted on 4/16/13 at 4:05 pm to
quote:

Sacramento or Seattle? Kings fate will be decided this week

Sounds like the decision might be pushed back to next week.
quote:

Interested to see what the decision is. I thought for sure they were going to Seattle, but Sac has done a good job of putting together their own package.

The Sacramento group still hasn't submitted an offer close to what the Hansen/Balmer/Nordstroms group has. If they can't come close, it makes it all a moot point.
Posted by TDawg1313
WA
Member since Jul 2009
12468 posts
Posted on 4/16/13 at 5:03 pm to
NBA confirmed that it won't be voted on this week.
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