Reports: Sacramento investors match Hansen’s offer; Maloofs set deadline
Apr 10, 2013, 2:06 PM | Updated: 5:12 pm
Sacramento Kings supporters gathered outside the hotel where NBA owners met regarding the possible relocation of the Sacramento Kings team to Seattle on April 3. (AP Photo)
(AP Photo)
The Maloofs in Sacramento have reportedly set a hard deadline for investors trying to keep the Kings in California. Reports also say the group does have an offer that matches Chris Hansen’s offer.
KCRA.com reports Senate leader Darrell Steinberg has said that the group’s bid to buy the team matches “dollar-for-dollar” an offer made by Hansen’s group in Seattle.
According to the Sacramento Bee, the Maloofs have given the Sacramento group a deadline of 5:00 p.m. Friday to “submit a written, binding ‘back-up’ offer that matches the deal the family has in place to sell the franchise” to Chris Hansen’s group in Seattle.
The Maloofs will consider the offer as a ‘serious proposal’ if the NBA nullifies a tentative deal with Hansen.
If a proposal isn’t submitted or doesn’t match Hansen’s bid, the Maloofs will end talks with the Sacramento group, according to the Bee.
The NBA’s Board of Governors is expected to make a final decision on the Kings sale at its meeting April 18-19.
“I guess the question is: can you tell the Maloofs who they’re going to sell to and when they’re going to sell,” wonders former SuperSonics broadcaster Kevin Calabro. “That’s one of the many issues facing the Board of Governors and that’s why I think they’re going to move this past the deadline.”
The announcements came just a day after a shake-up within Sacramento’s investment group. Billionaire Ron Burkle won’t be part of the deal for conflict of interests, but on Tuesday, developer Mark Friedman announced he’s jumping in to help fund the non-arena development in the area.
Steinberg told KCRA the changes don’t affect the group’s commitment to keeping the team in Sacramento.
Hansen has reportedly offered the Maloofs $350 million to buy the majority of the Kings and move them to Seattle. It’s still not entirely clear what the Sacramento group has offered, but city leaders have unveiled a financing plan for a new $447.7 million downtown arena.
Hansen’s group does have the option to up the offer.
