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The NBA received an official offer Friday from 24 Hour Fitness founder Mark Mastrov and billionaire Ron Burkle to buy the Sacramento Kings and keep the team from moving to Seattle.(AP file)

Sacramento investor submits official offer to keep Kings

BY Josh Kerns  on February 28, 2013 @ 6:52 pm (Updated: 4:57 pm - 3/1/13 )

The Seattle vs. Sacramento showdown is set.

The NBA received an official offer Friday from 24 Hour Fitness founder Mark Mastrov and billionaire Ron Burkle to buy the Sacramento Kings and keep the team from moving to Seattle, league spokesman Tim Frank said. No financial details of the proposal have been released.

Sacramento Mayor Kevin Johnson announced the Mastrov-Burkle bid during his State of the City address Thursday night, calling it a "competitive offer." Johnson tweeted Friday: "The proposal is IN!! A proud day for Sacramento!!"

Johnson finally announced the proposal publicly on the eve of his self-imposed March 1 deadline. With the league confirming the prospective Sacramento buyers, the only major announcement left is the future owners - and location - of the franchise.

The NBA Board of Governors is expected to vote by mid-April on the Seattle bid. If the league blocks the deal, the Maloofs would still have to agree to sell the team to any potential buyers.

The choice appears to be a tough one for owners. About the only certainty in the seemingly never-ending Sacramento saga came in NBA Commissioner David Stern's statements during All-Star weekend in Houston.

"I don't see any scenario where both cities are happy," Stern said.

Mastrov, among the final bidders for the Golden State Warriors before Joe Lacob and Peter Guber bought the team for an NBA-record $450 million in 2010, is hoping to become the majority owner of the Kings. Burkle, co-owner of the NHL's Pittsburgh Penguins, will lead the effort to build a new downtown arena that he hopes will lure back a WNBA franchise.

A Seattle group led by hedge-fund manager Chris Hansen and Microsoft Chief Executive Steve Ballmer has had a signed agreement since January to acquire a 65 percent stake in the team for $341 million from the Maloof family. The group already has petitioned the league to relocate the team to Seattle for next season, restore the SuperSonics name and play in KeyArena for at least two years while a new downtown arena is constructed.

Sacramento is hoping to revitalize the city with an arena at the Downtown Plaza shopping mall owned by JMA Ventures, whose officers have said they are eager to participate. To show Sacramento support for the Kings, Johnson also lined up at least 20 local investors who each committed $1 million.

The local group hopes to buy a 7 percent share of the team now under control of a federal bankruptcy court. One of those investors is former Sacramento Kings standout Mitch Richmond.

The mayor also said Sacramento businesses have committed $50 million in sponsorship and season-ticket sales for the Kings over the next five years, which he hopes will be enough to convince NBA owners of the market's viability.

Seattle hoops fans, meanwhile, have been reeling since owner Clay Bennett - now the chair of the NBA relocation committee - moved the Sonics to Oklahoma City in 2008.

Hansen has been at the forefront of bringing the NBA back to the basketball-loving Pacific Northwest city. He reached agreement with local governments in Seattle last October on plans to build a $490 million NBA/NHL arena near the city's other stadiums, CenturyLink Field and Safeco Field.

No construction will begin on that project until all environmental reviews are completed and a team has been secured.

Johnson announced their participation at a highly charged state of the city address that resembled a pep rally.

Johnson said Mastrov would lead the effort to purchase the Kings from the Maloof family, owners of the majority share of the team.

Burkle, the owner of the NHL's Pittsburgh Penguins, will lead development of a new downtown arena, Johnson said.

"My understanding is that it will be a very strong and competitive bid," Johnson said.

Johnson reiterated the assurances he received from NBA Commissioner David Stern that the offer "will be given full consideration."

"Many across the country have counted us out. And I know we are still very much in this game," he said. "I hope Seattle gets a team someday. Let me be perfectly crystal clear, it is not going to be this team. Not our team. no way."

Josh Kerns, MyNorthwest.com Reporter
Josh Kerns is co-host of KIRO Radio's Seattle Sounds (Saturday nights 7-8) and a digital content producer for MyNorthwest.com.
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Comments (27)


  • Add A Comment

  • CH wrote...
    Now what Soncic fans?
    February 28, 2013 6:31 pm
    CH sorry abut you $30 million no refund deposit. Ask Seattle taxpayers to recover it. The city will help you out since the taxpayers don't have a vote. :-(
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • ChartryC wrote...
    LOL
    February 28, 2013 6:47 pm
    You really are stupid! Get a life. Sonics will be back dummy!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Rayvensdad wrote...
    CH...
    February 28, 2013 8:09 pm
    You really are an idiot.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • jlwood1142 wrote...
    CH is classless!!!!!!!!
    February 28, 2013 9:04 pm
    You sound like an idiot. After an article and a press conference that means nothing you are the first in line let us all know what you think........ again. Wow, didn't see that coming. You really never disappoint, your such a child. I'm gonna translate your post for what it is "Now what Sonics fans? .... na na na na boo boo stick your head in doo doo" Like a third grader who's so naive you think that wins the debate. As someone who actually pays attention I'll tell you the rest of this Sonics story. The Sacremento group is going to put together a package that won't be quite as solid as the one Chris Hanson put together. Both parties will make their case to the board of NBA governors and they will choose which deal they like best. Of course they won't want to rip the Kings from Sacramento but they also know it's in the best interest of the team and league long term to be in Seattle. What will they chooose? We'll have to wait and see. But to think anything either sides do or say before then is going to somehow confirm your belief is insane and like I've said many times confirms what we all know and that's that your a tool.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dewey412 wrote...
    Now what?
    March 1, 2013 10:23 am
    Sonics about your
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • boomshakalaka wrote...
    ...
    February 28, 2013 7:29 pm
    LAWSUITS BEGIN !!!! !!!!!! Pants optional.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Dan1 wrote...
    Sonic's left because Seattle did not give a rip
    February 28, 2013 8:23 pm
    a few thousand fans now want a turd team like Sacramento back. NBA is a joke, rather go watch a little league game instead or a Mariner's game for that matter.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • cheezbawl1 wrote...
    wake up ch
    February 28, 2013 10:23 pm
    the 30 mill is the reason our group will win this battle fun to watch though. for me I Think we get the sonics if stearn doesent have a friend in Sacramento.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • xraydewd wrote...
    $30 mil
    March 1, 2013 7:17 am
    The $30million we are hoping will lock the sonics in has not been paid yet, it will be pain upon approval of the board to move the team to Seattle. So hanging our hopes on that is not valid. Its going to be a vote straight up. Seattle Vs. Sacramento. Point blank!! Seattle will ultimately win because the league itself will make more money here and that's what its about. GO SONICS!!!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    No way they will get to keep 30 mil and not move the team
    March 1, 2013 7:59 am
    O yes they will. A free 30 mil would you give it back? Who lit the fuse on your tampon? Defending CH now? Now you went and done it! Ok Flounder BLAWN she is all yours. I will sit back and enjoy the show.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    Actually CH, Hansen/Ballmer will get the team
    March 1, 2013 9:41 am
    This group Johnson announced and the way it's set up - Hansen will for sure get the team. The Sacramento team is an absolute mess. Burkle, who has a net worth of about 3 billion, is only involved in the areana. Mastrov, who is the one that is going to try and purchase the team, is only worth about 300 million. There is no way on earth the NBA owners would reject a higher offer from Hansen/Ballmer (about $20 billion net worth) for a smaller bid from Mastrov (net worth 300 million. It's pretty simple math. Try it sometime.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Cash wrote...
    ch
    March 1, 2013 5:05 pm
    You stole the tampon line from someone else...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Beetle1977 wrote...
    Worst Case Scenario for Seattle =
    March 1, 2013 2:55 pm
    Board of governors reject sale to Hansen/Balmer. Hansen/Balmer sue the NBA for interfering with a perfectly legal private sale. Both parties settle out of court with Hansen/Balmer agreeing to rescind their lawsuit in return for the NBA granting Seattle an expansion team within two years. But this scenario will not happen because the board of governors (which is made up of all the NBA owners) would be absolutely shooting themselves in the foot if they reject the sale. Rejecting a perfectly legal sale would establish precedent that could have a long lasting affect for current owners when it becomes their turn to sell.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Rayvensdad wrote...
    Beetle1977...
    March 1, 2013 11:08 pm
    Very well said.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    A fait accompli
    March 1, 2013 4:40 pm
    Google it CH.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • clevesside wrote...
    Another Friday Night....
    March 1, 2013 4:45 pm
    ...and a great time for trolling. We're waiting for the rest to crawl out. Besides, NBA doesn't recognize market size, especially if it's larger than their collective brains. Remember what they gave up in Seattle for a market a fraction of Seattle's size. These days, SIZE DOES COUNT! Sorry Sacramento, but it's not your fault either.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • soo purletiv wrote...
    Good thing for Mastrov...
    March 1, 2013 7:49 pm
    Sure is a good thing that Mastrov doesn't have any 24 hour fitness units in the Seattle area or for that matter anywhere in the greater northwest. The backlash could have been disastrous.

    Phew for him...

    { "Thumbs Up":"1","Thumbs Down":"-1" }
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