HoopsHype Chris Hansen rumors


May 13, 2013 Updates

A source familiar with the agreement, who asked not to be identified because of the sensitive nature of this week's NBA talks, said Hansen would strengthen the team's balance sheet as it enters into arena talks with the city of Sacramento. Even though Hansen has said his dream is to revive the Seattle SuperSonics, the Maloof-Hansen group would nonetheless make a good-faith effort to jointly finance an arena in Sacramento, the source insisted. Should a Sacramento arena deal fall through, sources said, the team likely would seek NBA approval a second time to move to Seattle. The deal would allow Hansen to purchase a controlling interest in the team – at a price that valued the entire team at $625 million – within the next two years, subject to NBA approval. Those details were laid out in a memo Friday from NBA executives to team owners, a source said. Sacramento Bee

May 12, 2013 Updates

The Hansen-Ballmer agreement to purchase 65 percent of the team from the Maloofs would now be based on a valuation of $550 million, an increase of $25 million. Now, Hansen has sweetened the pot again -- increasing the franchise valuation by another $75 million as part of a backup plan to buy 20 percent of the team from the Maloofs if owners formally reject relocation on Wednesday in Dallas. CBSSports.com

With Wednesday's Board of Governors vote on the fate of the Sacramento Kings looming, the Maloof family, which owns the team, is still trying to find a way to sell the team to a group led by Seattle hedge fund manager Chris Hansen instead of a local group in Sacramento led by software magnate Vivek Ranadive. Their latest gambit would sell 20 percent of the team to Hansen's group for $120 million, which would leave the team in the Maloofs' control, according to a source. NBA.com

The Ranadive group has agreed to match the 65 percent price of $341 million for the Kings in that deal, and has put at least 50 percent of that $341 million into escrow. NBA Commissioner David Stern said last month that while the Sacramento bid to keep the Kings at the time was slightly lower than the Seattle bid, the league considered the Sacramento bid binding. The league was made aware of both sale proposals involving Hansen on Wednesday, according to a source. Although there has been substantial buzz in Seattle that there are potential antitrust issues that could be the basis for a lawsuit against the NBA if Hansen is rejected, Hansen's group remains uninterested in legal remedies if it is rejected Wednesday, according to the source. NBA.com

May 11, 2013 Updates

Since we still have a few days to go, before the vote, is it reasonable to expect that we are edging closer to a virgins-into-the-volcano stage? Well, in a manner of speaking, yes. According to a source with whom I talked by phone, who was knowledgeable of Hansen’s plans but who didn’t want to be identified, mostly out of fear of a court-ordered mental-health evaluation, “There’s more.” Lock up your daughters. While the speculation about motives and strategy has commenced fearsome chattering among the digirati locally and nationally, Hansen was fairly straightforward in his post: “While we appreciate that this is a very difficult decision for the league and owners, we hope it is understood that we really believe the time is now to bring the NBA back to Seattle,” Hansen wrote. “It is paramount that we do everything we can to put Seattle’s best foot forward in this process.” SportsPressNW.com

May 10, 2013 Updates

Chris Hansen: In an effort to further demonstrate the extent of our commitment to bring basketball back to Seattle, we have elected to voluntarily increase our proposed purchase price for the Sacramento Kings NBA Franchise by $75 million — from an enterprise value of $550 million to $625 million. In conjunction with our revised offer, we have also guaranteed to the NBA that the Franchise would be a revenue sharing payer in all years in Seattle. SonicsArena.com

May 8, 2013 Updates

Mayor Kevin Johnson is so confident that the Kings are staying put, he's got some advice for the guys trying to buy the team and move it to Seattle: Back off. While saying he understands why they are putting up a fight, Johnson said Tuesday that hedge fund manager Chris Hansen and Microsoft executive Steve Ballmer should "take the high road and be gracious." Hansen and Ballmer have said they are still exploring their options after the NBA's relocation committee recommended by a 7-0 vote against their plan to move the Kings to the Emerald City. "Once the relocation committee spoke as loud and as clear as it did, I would probably take a step back and understand that I'm probably not going to get this team, so how can I put Seattle in the best possible position to get a team moving forward?" the mayor said. Sacramento Bee

May 7, 2013 Updates

Sacramento Mayor Kevin Johnson says if he were leading the Seattle group trying to move the Sacramento Kings, he’d give up. The mayor says Seattle should focus on the next opportunity to get an NBA franchise, "Once the relocation committee spoke as loud and as clear as it did, I would probably take a step back and understand that I'm probably not going to get this team so how can I put Seattle, Ballmer, Hansen, the Nordstrom family and anybody else from Seattle in the best possible position to get a team going forward. I would take the high road and I'd be gracious." Capital Public Radio

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