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Sacramento and Seattle Will Have One More Chance To Sway NBA



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(New York, NY and Sacramento, CA)
Thursday, April 18, 2013

The NBA's joint relocation/finance advisory committee met for several hours Wednesday to evaluate dueling bids from investor groups in Sacramento and Seattle.  Both groups seek to buy the Kings from their current owners, the Maloof family.

"The committee still has additional questions as they go through this in great detail about deals, financing, real estate challenges, environmental reviews, lawsuits and the like," Stern told reporters outside the NBA's offices in New York City Wednesday.

Stern said the committee will meet again towards the end of next week to make a final determination.  A vote would then need to wait at least seven business days after that meeting under NBA bylaws. "I'd be charitable to say [a vote could come] the first week in May," Stern said.  "But it could slide a bit."

At the Kings' season finale at home, Sacramento Mayor Kevin Johnson said that's a good sign,  "We gave the NBA a lot to think about.  They're evaluating two great cities and I think the advantage has to go to the home team.  We have great fans that are filling up Sleep Train Arena. We're going to build a brand new building downtown.  We have a qualified ownership group.  I think if we have another chance to present, that's a good sign for the community."

Phil Oates is one of the people who contributed a million dollars to a bid to keep the team in Sacramento, "I personally feel the delay is a good thing.  Possession is nine-tenths of the law and we own this team for now. I view it today, kind of like the closing of one door and the opening of another and a bigger and better thing.  So, I'm totally excited. "

Stern declined to say if Sacramento investors have matched the Seattle group's $357 million dollar offer.  On Tuesday, Mayor Johnson said raising the offer from $341 million was not a priority. 

The commissioner avoided questions about possible expansion, which would give both cities an NBA team.  "I'm not going to talk about any of the deliberations," he said.  "There are no current plans to expand."

The full NBA Board of Governors meets Thursday and Friday in New York City.  Stern said there will likely be a committee report on the Kings' future tomorrow afternoon.

EARLIER STORY:

The National Basketball Association Board of Governors has new information to consider before it decides if the Sacramento Kings will stay or be moved to Seattle.

The group of investors bidding to keep the team in Sacramento submitted its official bid -last night. The bid does not match the $357.5 million bid made by a group of Seattle investors.

In Seattle, KING5 TV reports Chris Hansen today closed escrow on the last pieces of property needed for his proposed Seattle arena site.

Seattle sports writer Art Thiel says the NBA owners may decide based on revenue sharing,  "There are others who say in the ownership group who think the Seattle offer is a bigger, better offer that is going to be a payer into their new revenue-sharing plan whereas the Kings remaining in Sacramento would be a receiver of revenue."

Thiel appears on today's Capital Public Radio's Insight program.

Two NBA committees met today to discuss the competing offers.

Tonight is the Kings final game of the season.  They are playing at home for what could be the final time ever.

There is no deadline for a decision from the NBA on the team's fate.

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