Update: 5:50 p.m. Audio of Mayor Kevin Johnson Press Conference:
Mobile listeners click here to listen.
Update: 4:49 p.m.
Reaction to the news came swiftly across Twitter, including:
Sacramento Mayor Kevin Johnson: "That's what I'm talking about SACRAMENTO!!!!! WE DID IT!!!!!"
"I want to take my hat off to Seattle. You're a great city, had a great proposal, unbelievable fans & no doubt deserve a team in the future."
"I've never been prouder of this city. I thank the ownership group, city leaders, but most ofall the BEST FANS IN THE NBA!!!"
Chris Kelly, member of investor group hoping to buy the franchise: "Excited to be moving forward with the Sacramento Kings!..."
David Aldridge, writer at NBA.com: "Recommendation likely to lead 2 no vote on relocation at May 13 meeting of all 30 NBA owners, meaning the Kings remain in Sacramento next yr."
Mitch Levy: Seattle Sports Radio: Mitch in the Morning: "I will go to my grave CONVINCED that the NBA owners knowingly took an inferior deal for the sake of their commissioner and status quo."
"As many of you know, I'm generally a pessimist... but really believed, based on the info shared with me, that NBA would not turn us down."
"Just got off the phone with Steve Ballmer. He is "horribly, horribly disappointed" in this news.... Steve was incredibly emotional on the phone. He and the group will continue their communication w/Stern and the NBA... Ballmer said that he and Chris Hansen and the rest of the group will put their heads together and see if there is a reasonable next step... Ballmer told me that he can't imagine that the city of Seattle will ever have a stronger case and a better situation to acquire a team... In the midst of his "venting" on the phone, Ballmer did say he feels terrible for Seattle NBA fans for having their hopes dashed again.
"Ballmer displayed zero optimism expansion will be offered. Said that he just doesn't think the NBA will share the revenue pie w/more teams... In the midst of his 'venting' on the phone, Ballmer did say he feels terrible for Seattle NBA fans for having their hopes dashed again."
Dow Constantine, King County, WA, executive: "Disappointed, but undeterred in our quest to bring #NBA basketball back to the Pacific Northwest."
Seattle Mayor Mike McGinn: "We're going to stay focused on our job: making sure #Seattle remains in a position to get a team when the opportunity presents itself."