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Legal Expert: Sacramento Improvising to Complete Offer

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(Sacramento, CA)
Friday, April 19, 2013

Professor Michael Malloy with the McGeorge School of Law says the Sacramento ownership group has been improvising since the loss of Ron Burkle as an arena developer. 

Malloy says the group likely has an outline of what positions the new group members would have, but likely hasn't settled on a formal ownership structure, "If the NBA were to say, "We're ready to go forward.  We approve Sacramento's offer. That doesn't mean that the next thing that happens is not that this group takes over the Kings. It means they then try to finalize their plan.  Which means, the NBA could -a little while after that- could find themselves having to face this decision making all over again."

Malloy says the terminology Stern used would have been different if the dollar amount of the Sacramento bid were significantly lacking.  The Sacramento investors did not match the Seattle group's recent $16.5 million dollar increase in its offer for the team.

Stern says he expects the Sacramento offer to be improved by tomorrow.

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