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» Friday, May 3 2013 |
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Sacramento's bid would be a backup to the deal the Maloofs struck to sell the Kings to a Seattle investor group. Seattle's investors were dealt a serious setback Monday, when the NBA relocation committee voted 7-0 to recommend blocking the team's proposed relocation to the Pacific Northwest. The league hasn't yet ruled on the Seattle group's actual purchase, so the $357 million deal remains in place between the Maloofs and Seattle investors Chris Hansen and Steve Ballmer. Sacramento Bee Rumblings persisted Thursday that Chris Hansen continues to work behind the scenes to keep hope alive of buying the Sacramento Kings. Seattle Times It remained unclear exactly what Hansen's preferred course of action is. However, one league source reiterated that one option is for Hansen to still attempt to buy the Kings, even if they can't be relocated. One source said Hansen might argue before the NBA Board of Governors — when it meets in New York on May 15 for a final vote on the matter — that he would agree to keep the team in Sacramento as long as the city came through with its plan to build a new arena. If it didn't, Hansen would then be able to relocate the team to Seattle later. Seattle Times |
» Tuesday, April 30 2013 |
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Wolves owner Glen Taylor said he'll have a major announcement on the ownership front sometime in the next week. When poked and prodded, the only other information he would volunteer was that it's a scenario that would never be guessed. Taylor has had talks with Chris Hansen's Seattle group, but they want to move the Wolves to Seattle, and Taylor said that's not happening. 1500 ESPN Chris Hansen: While we are disappointed with the relocation committee’s recommendation, we just wanted to let you all know that we remain fully committed to seeing this transaction through. As you are all well aware, we have a binding transaction to purchase the Kings for what would be a record price for an NBA franchise, have one of the best ownership groups ever assembled to purchase a professional sports team in the US, have clearly demonstrated that we have a much more solid Arena plan, have offered a much higher price than the yet to be finalized Sacramento Group, and have placed all of the funds to close the transaction into escrow. As such, we plan to unequivocally state our case for both relocation and our plan to move forward with the transaction to the league and owners at the upcoming Board of Governor’s Meeting in Mid-May. SonicsArena.com Aaron Bruski: Multiple league sources expressed surprise at Chris Hansen's statement tonight. "He's fighting for expansion at best, flailing at worst." Twitter @aaronbruski |
» Monday, April 29 2013 |
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In a unanimous vote of the league's combined Relocation and Finance committees Monday afternoon, 12 NBA owners recommended that the league's Board of Governors vote to deny the relocation of the Kings to Seattle — and, in doing so, deny the sale of the team from the Maloof Family to a Seattle-based group led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer. The recommendation will be taken up by the full Board for a formal vote the week of May 13. But it is almost certain that the full Board will go along with the recommendation and vote to keep the Kings in Sacramento, at least for another year. NBA.com What Hansen and Seattle do from here is unclear. Sources maintain that legal action against the league is a near impossibility, given that the NBA requires prospective owners to sign agreements that prohibit them from taking legal action if their bids are denied. A source with knowledge of Hansen's group's plans said Sunday that the group had never thought about taking any legal action if it lost. NBA.com |
» Thursday, April 25 2013 |
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Part of the Seattle group headed by Chris Hansen, Ballmer said, "We've got our fingers crossed, Chris Hansen's worked really, really hard, and, I think, really intelligently. Seattle's got a great bid, we've got a great arena plan, I think we have the better arena plan. We've got a good offer, it's been accepted by current owners, we've got a great market, it seems like they'll never be a better opportunity, but it'll be up to the NBA owners." king5.com Bryan Stevens, spokesperson for the city’s Department of Planning and Development said Wednesday that a Master Use Permit for the Seattle Arena project will be filed next week, on April 30. Investor Chris Hansen originally told NBA Owners earlier this month that the MUP would be filed by Mid-April. Stevens acknowledges it is a significant step in the process, calling it a “major milestone” in the process. He says the DPD expects the draft environmental impact statement to be available to the public for review and comment in June. Hansen is trying to convince NBA Owners to approve his purchase of the Kings franchise, and relocation of that team to Seattle. krem.com |
» Wednesday, April 24 2013 |
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One league executive Tuesday described the commissioner as "anguishing" over the process that consists of competing offers for one team, proposals for new arenas in Sacramento and Seattle, and questions pertaining to the prudence and practicality of relocating an established incumbent franchise that sold out 19 of 28 seasons. It's unclear whether the Sacramento group, led by software tycoon Vivek Ranadive, satisfied Stern's request for more "details" regarding the counteroffer to the record-setting agreement the Maloofs signed with the Seattle-based group headed by Chris Hansen and Steve Ballmer. Sacramento Bee |
» Wednesday, April 17 2013 |
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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 The NBA confirmed Tuesday it will not vote this week when the league’s Board of Governors meets in New York to discuss a sale of the Sacramento Kings to a group that would relocate the team to Seattle for the 2013-14 season. Seattle Mayor Mike McGinn said Tuesday he had been told by NBA Commissioner David Stern in a phone conversation Monday that the league needed more time to sort things out. Seattle Times McGinn said the NBA was looking to “tee up” the decision with its discussion this week and that Stern was in the “same place” he was after a meeting with representatives of each city in New York two weeks ago. Stern had said after those meetings, when each city made 90-minute presentations to the league’s Relocation/Finance Committee, comprising eight team owners, that the league might not be ready to vote by the time of the Board of Governors (BOG) meetings. Those meetings are held each year at the conclusion of the regular season. Seattle Times A league source told The Seattle Times that it is thought the Sacramento offer did not include the increase, nor did it include a $30 million nonrefundable deposit made by the Hansen group to the current controlling owners, the Maloof family. Seattle Times League sources say the vote wasn’t delayed, because it was never placed on the agenda for the meetings this week. But that didn’t stop speculation that the league might use the extra time to at least consider adding an expansion team. Seattle Times One league source said it could be possible the league would consider allowing Hansen to buy and move the Kings (re-branding them as the Sonics) and give Sacramento an expansion team (allowing them to stay the Kings). Seattle Times |
» Tuesday, April 16 2013 |
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Seattle mayor Mike McGinn said today that the city has been informed that there will be no vote taken when the NBA Board of Governors meets this week in New York. An NBA spokesman later confirmed the news to The Seattle Times. McGinn made the comments at a press conference today to talk about the earlier agreement concerning improvements being made to KeyArena in concert with Chris Hansen, who has made an agreement to buy the Sacramento Kings. McGinn said he called Stern Monday to inform him of the KeyArena agreement and update him on the dismissal of the I-91 lawsuit. Seattle Times Ranadive wouldn't say whether his group plans to match the increased offer submitted last Friday by Seattle investor Chris Hansen. Nor would he say if his group has yet filed a written purchase offer with the NBA. A source connected to the Sacramento group said last week the Ranadive group would match Hansen's original $341 million bid for the 65 percent of the Kings controlled by the Maloofs. With his higher bid, Hansen is now offering to pay $357 million. Sacramento Bee |
» Sunday, April 14 2013 |
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The Sacramento contingent seeking to buy the Kings held back Saturday from delivering a counter to an increased bid for the franchise from Seattle, instead portraying the new offer as a move of desperation that is unlikely to sway the NBA's decision on which city will get the franchise. It remained unclear Saturday when the Sacramento group would file its own formal and written offer for the team - or whether that bid would match the new offer on the table from a Seattle contingent led by hedge fund manager Chris Hansen and Microsoft executive Steve Ballmer. A legal expert told The Bee that the NBA has the right to accept a lower offer. Sacramento Bee |
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