Vote deciding fate of Kings put on hold
by Sam Amick, USA TODAY Sports
The fate of the Sacramento Kings has been in the balance for 26 months already, so what’s a few more days?
A person with knowledge of the situation confirmed that there will be no Board of Governors vote on Friday regarding whether the Kings will stay in Sacramento or relocate to Seattle. The person spoke to USA TODAY Sports on the condition of anonymity because of the private nature of the process.
NBA Commissioner David Stern hinted at this possibility after an April 3 meeting in New York in which both cities made their cases to the league’s relocation committee and finance advisory committee that have been joined. It’s unclear when the Board will vote on the matter, but it remains entirely possible that the committees will submit their recommendation by Friday on whether the league’s owners should approve Seattle’s agreement with the Maloof family that owns the team.
The Seattle side needs a 75% approval vote in order to get the team, meaning Sacramento is hoping that at least eight owners vote against it and allow them to buy the team from the Maloofs. Hedge fund manager and lead Seattle power player Chris Hansen upped his group’s bid from a $525 million valuation to $550 million valuation on Saturday, but the NBA has not given any indication if a back-and-forth bidding war is about to ensue or if the league’s decision will be based solely on the initial agreement.
USA TODAY Sports first reported on Friday that the Sacramento group that’s headed by Silicon Valley software tycoon Vivek Ranadive had told the NBA in the April 3 meeting that it would match Seattle’s $525 million valuation offer. The Kings’ saga first became a public matter in mid-February, 2011, when Stern confirmed that Kings officials had been in talks with Anaheim officials about moving the team to the Southern California city.
The Maloofs couldn’t gain enough support from the Board of Governors then, and thus decided not to file for relocation. They came to an agreement in principle with the city of Sacramento and the NBA on a downtown arena deal in … [For more on Vote deciding fate of Sacramento Kings put on hold, click here.]