sacramentokings_isiahthomas.jpg
As the basketball season continues in Sacramento, their city council will vote Tuesday on whether to enter formal negotiations with Mayor Johnson's investor group on plans for a new arena. (AP Photo/File)

New player in Sacramento Kings, Seattle Sonics tug-of-war

BY Chris Sullivan  on February 26, 2013 @ 4:32 am (Updated: 9:31 am - 2/26/13 )

New developments in the tug-of-war between Sacramento and Seattle over the Kings means another potential investor group has emerged.

Kings' minority owner John Kehriotis is reportedly ready to announce plans for a $750 million deal to buy the Kings and finance a new arena in Sacramento. Fox 40 in Sacramento reports Kehriotis and his investor group already have $350 million banked and a commitment for the other $400 million.

These investors are different than the group assembled by Sacramento Mayor Kevin Johnson.

The Sacramento City Council will vote Tuesday on whether to enter formal negotiations with Mayor Johnson's investor group on plans for a new arena.

Those investors have not yet been made public, though they are believed to be billionaire Ron Burkle and 24 Hour Fitness founder Mark Mastrov.

Find the latest Seattle NBA updates:
Investor Chris Hansen wants the run of KeyArena if Sonics return
Photos: The latest design concepts for a new Seattle arena

Chris Sullivan, KIRO Radio Reporter
Chris loves the rush of covering breaking news and works hard to try to make sense of it all while telling stories about real people in extraordinary circumstances.
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Comments (36)


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  • messiah101 wrote...
    I would guess that hansen is also looking elsewhere
    February 26, 2013 6:50 am
    For a team.It doesn't look like the Kings are going anywhere
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Sacramento_Kings_fan wrote...
    the kings are not going anywhere....
    February 26, 2013 1:39 pm
    but with a owner like Hansen , Seattle will get the Sonics if he will set his eyes on the Bobcats or Bucks. $500 million is alot of money. Sacramento is all in on this.... we love our Kings. Sacramento is prepared to match offers. I do want to see the sonics in seattle , not the Kings.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Mocorro wrote...
    The Seattle Supersonics 2013-14 season
    February 26, 2013 4:18 pm
    Sorry to break your spirit Sac Fan.; Stern, had said in the All Star Weekend that This is not going to be a bidding war, between Seattle and Sacramento. The BOG will base it on which city is going to be successful in the future, and the history of the team in that city. Not to mention the size of the TV market, and corporate sponsorship. You see Sac Fan, The BOG is tired of giving handouts to a smaller market team like yours, through revenue sharing. In Sacramento, even if the team sells out every night for 42 home games you would still loose money, because it doesn't have enough corporate sponsorship. The money is in the TV contract, and Seattle has it because of it's market size. OK in Sacramento you had a pretty good history in the NBA of having a franchise for 20+ years. with great fan support. In Seattle we had 41 years of great fan base, including years of divisional tittles, playoff runs, several trips to the NBA finals, 1978, 1979, 1985, An NBA championship trophy as NBA champions i n 1979. If you want to base it on which team has relevance in the NBA, It would be Seattle. Besides Stern had some business to take care of, Like fixing the black eye on his resume, when he allowed Seattle to be stolen away from this great city. Clay Bennett also had to repent from a past sins in his thievery, stealing of the Supersonics franchise to OKC. He is now the relocation committee chairman, and will repair the damage that he created.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • cascadedavid wrote...
    Compassion
    February 26, 2013 5:33 pm
    Maybe the league needs to get healthier, THEN expand. I wish that I knew more about it, but I read that some of the NFL team owners made some choices that were not good for them really, but good for the future of the league. Seattle's team was stolen. I know that it was devastating to fans and affiliated businesses. Two wrongs don't make a right... Yes the kids who bought jerseys and live and breath their team will get over them leaving, but it sounds like there is a bigger picture to analyse here...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • frisco wrote...
    Mocorro wrote... The Seattle Supersonics 2013-14 season
    March 2, 2013 12:43 pm
    " The BOG will base it on which city is going to be successful in the future, and the history of the team in that city. The history if the team in that city? "the team" in question here is the SACRAMENTO KINGS who have a 25 year history in SacTown & ZERO history I'm Seattle.. Sorry, try again!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • ratrustle wrote...
    The NBA is a dying business model
    February 26, 2013 7:37 am
    It's on the way out just like BIG Government only they (the NBA) don't know it yet. If you look at all the top teams in the NBA right now you'll notice one thing -- most are in small markets. When the big television contracts come up for renewal and the advertisers figure out that they're reaching 1/10th of the market they thought they would, they'll spend their money elsewhere. David Stern has been as bad for the NBA as our Congress has been for overspending. Chris Hansen may have a lot of money, but he's showing poor business sense if he follows through with this deal. I predict there will be a lot of teams wanting to move in the near future and he won't need to overpay to get one.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    ratrustle
    February 26, 2013 9:17 am
    The NBA may have a broken business model however 17 of the 30 teams average 90% or higher attendance with a couple OVER 100% ( the sell lots of standing room seats)Hate Stern thats OK but he has done an outstanding job as Commish he made the NBA a INTERNATIONAL success. I agree with your opinion of Hansen,but just because he made lots of $$$ in Hedge funds doesn't mean he has real business abilities same with Ballmer
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • luckedout wrote...
    Obviously you don't follow the NBA
    February 26, 2013 12:44 pm
    Top teams are in small markets... like Miami? New York? Indianapolis? Los Angeles? Those are some of the top teams in the NBA right now. If you look at attendance, tickets prices, TV ratings etc. It's been increasing steadily. The value of an NBA franchise has skyrocketed. 4-5 years ago the Golden State Warriors were sold for $350 million. Now the Kings are valued at $500 million. Knicks and Lakers are valued close to $1billion. Just incredible considering where the NBA was even just 20 years ago. Stern is awful, but he's brought the NBA a long way. He just stayed on too long. I hope you don't give business advise professionally, because you are wrong on this one.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Nomad_bychoice wrote...
    So much..SO LATE
    February 26, 2013 7:42 am
    REMINDER: Chris Hansen has a SIGNED purchase and Sale Agreement with the Maloofs. REMINDER: Chris Hansen has already deposited $30 MIL to the Maloofs. REMINDER: David Stern wants to bring a team back to Seattle before he retires and the NBA badly wants a team here. FANS: Do NOT be discouraged by the news out of Sacramento. Even if they get their **** together, they aren't keeping the Kings. Stern and the league ARE NOT going to screw Seattle OVER AGAIN. This deal is redemption for the league. Take it to the bank, your Seattle SUUUUUUUUPER Sonics will be back come fall. Bank it.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Daddy Dennis wrote...
    It looks ugly!
    February 26, 2013 8:03 am
    This is no joke of a proposal at work. Nothing is binding and that is what brings doubt from all sides.

    I tend to agree with you that any last second rallying will only be seen with skepticism by the NBA. These people are only popping up now because they have had their arms twisted by politicians. Hansen's group represents a hungry, eager, and willing force that delights the NBA. They are not looking for people forced to walk the plank by a mayor to own a team.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • frisco wrote...
    "It looks ugly"
    February 26, 2013 8:53 am
    @ Daddy Dennis- " They are not looking for people forced to walk the plank by a mayor to own a team." Did you even read the article? This new potential ownership group is led by a kings MINORITY OWNER! Nobody is being forced to buy the Kings! They are separate from the group Mayor Johnson is putting together. And by the way, "these people are only pooping up now" because the Maloofs have steadily maintained that the Kings ARE NOT FOR SALE. Then they turned around & offered the team to Seattle without giving Sacramento the chance to make an offer..
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Daddy Dennis wrote...
    Still last minute
    February 26, 2013 8:59 am
    Yes. I did read about the second last minute entry. Yes, I know this minority owner has claimed to want to purchase the team but has never submitted anything even close to concrete. If you say it is because the Maloofs never offered to sell, that is debatable. A robust and inspired offer initiates sales.

    Whatever makes these last minute offers last minute does not change the fact that politicians are pushing the agenda to keep the team in Sacramento. It comes off as forced and scrambling any way you slice it.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • frisco wrote...
    "So much..SO LATE"
    February 26, 2013 8:41 am
    " Stern and the league ARE NOT going to screw Seattle OVER AGAIN." Screw Seattle over? This is the SACRAMENTO KINGS not the Seattle Sonics! The NBA has never left a market with a viable owner &.viable arena plan, and this isn't going to be the first time. Hansen's $30 mill "deposit" means nothing in this deal. The minority owners of the Kings are allowed first right of refusal, which the Maloofs never offered. The Maloofs maintained that the Kings WERE NOT for sale, then turned around & tried to sell to Seattle. ENJOY ANOTHER ANOTHER SEASON WITHOUT AN NBA TEAM!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Nomad
    February 26, 2013 9:20 am
    If what you say is true then why are the Maloofs still shopping the team? And why are lots of Rich guys wanting to throw their money in the pot in a attempt to keep the Kings in Sac?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Nomad_bychoice wrote...
    Messiah 101
    February 26, 2013 10:44 am
    They're not still shopping the team. The $30 mil Hansen deposited prohibits them from doing so, however; it doesn't prohibit any John or Jane Doe billionaire to come up with a plan to keep them there- that' what this is. It's for show- right now Sacramento's only hope for a team is to build an arena and be ready when another team wants to relocate or the league wants to expand. These potential buyers of the current Kings are fully aware of this.If they get it together, they'll be first in line for a franchise- but it wont be the current Kings. This is ugly I know. Seattle had their team taken and the only way to get one back is to buy and relocate. It's capitalism at it's best- CUT THROAT.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • frisco wrote...
    Nomad_bychoice
    February 26, 2013 11:56 am
    What part if "Right of first refusal" do you not understand? If John Kehriotis does infact come up with a viable offer for the team & an arena deal, then the Kings aren't going anywhere. They won't "be first in line for a franchise- but it wont be the current Kings."
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Nomad_bychoice wrote...
    frisco
    February 26, 2013 1:13 pm
    The ROFR is not an issue. Hansen's lawyers and the NBA's lawyers all agree. Once rthe deal is approved the details will come out, but I can assure you (and if you only knew who I was you would agree :0 ) the ROFR is a non-issue. I'm sorry.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • jstumbo wrote...
    right of first refusal...
    February 26, 2013 4:09 pm
    Is for the minority owners to buy out the majority owners. Not for the minority owners to find new people to buy the majority owners share. If the minority owners had the money to buy the team then it might be an issue.but that is not what they are doing.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Sacramento_Kings_fan wrote...
    Kings are staying in Sacramento.
    February 26, 2013 1:14 pm
    in the begining sonic fans were warned to not celebrate early. Sacramento is use to having there backs agianst the walls , you all knew Sacramento was going to come out swinging. you knew Sacramento is going all in and fight to keep the Kings. Kings fans have also said all along that we want to see seattle get a team , just not ours! it's beyond me why cities under estimate Sacramento. but here we are... my gut feeling is Hansen is going to get a team , just not the Kings. Sacramento will match the offer or better. we are passionate about our team. Sacramento is dialed in and focused and locked in. Kings are going nowhere's but Sacramento. Bank on it.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Nomad_bychoice wrote...
    Sacramento_Kings_fan
    February 26, 2013 1:30 pm
    Do you think Stern is going to walk Ballmer/Hansen down the aisle and leave em'dry at the altar? Stern wants Ballmer. Stern wants the league in Seattle. Your wannabe's should of stepped up long ago. Signed agreement. 30Mil deposited to the Maloofs. Arena plan ALREADY approved by local government. Financing set. Fans ready. The purple and black will soon be the green and gold. Sorry, but maybe your city will take a page out of Seattle's book and be ready when a team is for sale. Read it and weep.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Hawkin wrote...
    Sack Kings Fan
    February 26, 2013 3:31 pm
    Trying logging on to SactownRoyalty.com.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Hawkin wrote...
    grammar
    February 26, 2013 3:58 pm
    "try" not trying.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Old Timer wrote...
    Sonics
    February 26, 2013 8:29 am
    ratrustle: Good post. I hope they move to Reno or anyplace but the NW.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • calapete wrote...
    so this owner just suddenly decided he wants to buy the whole team?
    February 26, 2013 8:35 am
    he should just shut up and go along for the ride with Hansen, Nordstrom and Ballmer.

    after working with the Maloofs, he will be in a much better place and will make more money.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Sacramento_Kings_fan wrote...
    don't under estimate sacramento lol.
    February 26, 2013 1:34 pm
    I don't know why cities think they can pry the kings from Sacramento.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • ratrustle wrote...
    Don't get me wrong
    February 26, 2013 8:41 am
    I LOVE BASKETBALL! But this is just a stupid unsustainable business model. But rich guys can spend their money any way they want. And I can choose to spend my entertainment dollars any way I want. Which is why I love America...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • HLC wrote...
    Probably a huge tax advantage for Hansen.
    February 26, 2013 8:55 am
    A 1%er going to get some tax breaks and be a Seattle hero. They will lose money every year. They make their money back on the sale of the teams.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    SAVE OUR KINGS!!
    February 26, 2013 1:33 pm
    thank you Mayor Kevin Johnson. :-).
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    CH - This isn't the group Johnson is putting together
    February 26, 2013 2:56 pm
    These guys are completely seperate from anything the city of Sacremento is trying to do. Read the story you are commenting on.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • BigKev wrote...
    Doesn't Make Sense
    February 26, 2013 1:56 pm
    What I don't understand is why the NBA would even want to stay in Sacramento. Seattle is a way better market, and if we've learned anything about the Sonics moving it's that the NBA only cares about ratings and money. The Kings have sucked in Sacramento for years, new management in Seattle, I guarantee they would end up more successful. Slow your roll Sacramento, either way Seattle will end up with a team
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • jstumbo wrote...
    actually...
    February 26, 2013 4:14 pm
    The kings always had better attendence than the Sonics.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • User68niou1 wrote...
    steal a team away?
    February 26, 2013 2:21 pm
    Is it just me or is it the ultimate in hypocrisy to steal a team away from Sacramento, just to bring a team to Seattle? The NBA is filled with druggies and thugs, so I couldn't really care less what happens to these guys unless we're talking sentencing.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
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