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» Tuesday, May 14 2013

When asked to clarify, the source said that should the Seattle group continue to pursue a scorched earth policy with the Sacramento marketplace, they would jeopardize the city’s ability to secure an NBA team down the road should an opportunity present itself. When asked how Seattle got to that point, several sources with knowledge of the situation have told PBT that once they recognized the Sacramento bid was likely to meet league requirements, and ultimately secure the Kings, then decision-making for Seattle’s strategy and PR effort slowly shifted into Ballmer’s hands. That strategy has been at odds with the due process the NBA has been following, and recently it has been at odds with the NBA itself. NBCSports.com

 

» Monday, May 13 2013

A committee of NBA owners who have been studying the future of the Sacramento Kings met Monday but did not change their position to recommend the team be kept in Sacramento and not moved to Seattle, a source told ESPN.com. A final full vote on the matter is expected at owners' meetings Wednesday in Dallas. It remains unclear, however, who will own the Kings after Wednesday's meetings. ESPN.com

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

 

» Sunday, May 12 2013

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

 

» Saturday, May 11 2013

Phil Jackson is obviously taking him time weighing overtures from the Toronto Raptors and the other interested (but still unidentified) teams that have reached out to him pitching jobs that, in Phil's words, where "none of it involves coaching." One factor to explain that uber-patient approach emerged Friday night, when a source close to the situation acknowledged that Jackson wants to wait until the Seattle group trying to buy the Sacramento Kings is completely ruled out as an option before giving serious thought to where to work next season. ESPN.com

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

 

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