The league wants the Kings to remain in Sacramento, having worked extensively with the Ranadive group, Mayor Kevin Johnson and local and regional business and political interests to put a deal together. The Ranadive group has a competing deal on the table based on the original franchise valuation of $525 million that Hansen and the Maloofs reached in January. The Ranadive group has agreed to match the 65 percent price of $341 million for the Kings in that deal, and has put at least 50 percent of that $341 million into escrow. NBA Commissioner David Stern said last month that while the Sacramento bid to keep the Kings at the time was slightly lower than the Seattle bid, the league considered the Sacramento bid binding. The league was made aware of both sale proposals involving Hansen on Wednesday, according to a source. Although there has been substantial buzz in Seattle that there are potential antitrust issues that could be the basis for a lawsuit against the NBA if Hansen is rejected, Hansen’s group remains uninterested in legal remedies if it is rejected Wednesday, according to the source.
Sacramento Receives League Backing
Hoopsworld.com | May 12