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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 (32)


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  • 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.
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  • 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.
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  • 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.

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  • 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..
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  • 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" }
  • 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.
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  • 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" }
  • 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" }
  • Frogsplash wrote...
    Odd, nothing I can find about this
    February 26, 2013 3:09 pm
    On either Yahoo Sports or ESPN. Guy who reported this seems to have gone silent on the subject as well.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • clevesside wrote...
    What's that rumbling sound.....
    February 26, 2013 5:08 pm
    ....coming up and down I-5? Could it be an army of lawyers headed by the NBA to settle this thing?! Better add billings to any package costs also, unless there's a contingency already. Somehow both cities might find this much more costly and worthwhile than they're prepared for.
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