HoopsHype Joe Maloof rumors


April 12, 2013 Updates

The group of ultra-wealthy investors seeking to buy the Sacramento Kings and keep the team here has notified the NBA that they will match the offer for the franchise made by rival investors from Seattle, a source close to the deal told The Bee. Earlier today, the proposed Sacramento ownership group grew by one when Chris Kelly, a former Facebook executive who ran for state attorney general in 2010, was unveiled as a new partner. A source said the group has been approached by multiple interested investors and is now turning them away. Sacramento Bee

On Thursday, sources close to the Maloofs said that if the Sacramento group submits a matching offer that satisfies the league's other owners, they will embrace an outcome that keeps the Kings in Sacramento. The league is expected to address the situation at the April 18-19 annual ownership meetings. Because of the complexity and unprecedented nature of the proceedings, however, with two legitimate groups bidding for one established team, league Commissioner David Stern has indicated the matter might not be resolved until later this month. Sacramento Bee

April 11, 2013 Updates

The great people of Sacramento have a lot to worry about, but this so-called Maloof deadline is not one of them: The Sacramento Bee reported this afternoon that the Kings owners have given the group from Sacramento trying to roadblock Seattle until Friday at 5 p.m. to submit a written backup offer to buy the team in the event the NBA turns down the Seattle bid. What the Bee does not report is what happens if mayor Kevin Johnson, Mark Mastrov, Vivek Ranadive et al miss the deadline. Nothing. It's great strategy by the Maloofs, presumably as a coordinated effort, or at the very least in consultation, with the Seattle group -- give Sacramento one more item it has to deal with while playing catch up, sometimes awkwardly, in the final days before a possible vote by the Board of Governors. And it's the latest very clear sign the Maloofs are digging in and willing to show their teeth. But there's no there there. Sulia

The deadline is a negotiating tactic. If it's missed, it will not signify a permanent end to negotiations. It might not even signify an end for the month if the governors turn down Seattle. (If Seattle is approved, of course, everything else become moot.) Sulia

March 31, 2013 Updates
March 28, 2013 Updates
March 27, 2013 Updates
March 5, 2013 Updates

Sources do not expect the Maloof family to push back on the league’s decision to back either Sacramento or Seattle, citing the prohibitive costs of an antitrust lawsuit, and the potential for the family to lose a chance to cash out in Sacramento or Seattle. The issue of market comparisons between Sacramento and Seattle is cloudy, but sources expect Sacramento to be competitive in that area because it has one major sports team in their No. 20 TV market, while Seattle could have six major sports teams in its No. 12 TV market. We will cover this in a bit more detail later in the next few weeks. NBCSports.com

January 23, 2013 Updates

Billionaire Ron Burkle and Bay Area investor Mark Mastrov are in serious discussions to team up on a bid to buy the Sacramento Kings and partner with the city of Sacramento on a plan to help finance a new downtown sports arena, The Bee has learned. A source familiar with the negotiations told The Bee that Burkle and Mastrov are both committed to keeping the team in Sacramento and building the Kings into a contender. The teaming of Burkle and Mastrov is seen by city officials as a "dream team" counter offer to the group that this week agreed to buy the Kings and move the franchise to Seattle, the source said. Sacramento Bee

January 21, 2013 Updates

Nearly five years after the Seattle SuperSonics became the Oklahoma City Thunder and the jewel of a city in the Northwest lost the NBA franchise that had been there since 1967, it appears the Sacramento Kings will be recycled there. Yet after a deal was finalized over the weekend between the Maloof family that owns the Kings and the Seattle group led by hedge fund manager Chris Hansen, Microsoft CEO Steve Ballmer and the Nordstrom family, the next question is whether anything can stand in the way of the Sonics' return. USA Today Sports

While Hansen deemed the deal "binding" in his statement on Monday, Stern has already made it clear to Sacramento mayor and former NBA point guard Kevin Johnson will have a chance to present a counter-offer to the Board of Governors, though the timing is not yet known. What's more, a person with knowledge of the Maloofs' situation told USA TODAY Sports that it remains possible – depending on how the NBA handles the process going forward – they could sell to a Sacramento-based group if a competitive offer materialized. The person requested anonymity because of the sensitive nature of the situation. USA Today Sports

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