HoopsHype Gavin Maloof rumors

May 12, 2013 Updates
May 11, 2013 Updates
April 29, 2013 Updates
April 25, 2013 Updates
April 24, 2013 Updates
April 17, 2013 Updates

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

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

April 12, 2013 Updates

A source with direct knowledge of the negotiations said that the Maloof family would be willing to give a group of investors looking to keep the Sacramento Kings in that city additional time, as late as through this weekend, to deliver a written matching proposal to the $341 million binding offer that the family received in January from a Seattle-based group that wants to move the Kings there next season. NBA.com

The Maloofs had been unwilling to make any deal with local investors who wanted to keep the team in Sacramento. But the family is now willing to sign a deal with the Sacramento group that would be an acceptable backup plan if the NBA rejects the sale of the team to the Seattle group, led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer. The match, the source said, would have to include the same $30 million non-refundable deposit that Hansen's group made as part of its offer to buy 65 percent of the Kings from the Maloofs. That would mean a franchise valuation of $525 million. NBA.com

The Maloofs "have to have something done by this weekend," the source said. "Next week is the Board of Governors. If Sacramento doesn't have an acceptable offer (before then), they're done." NBA.com

Several media outlets have reported that the Sacramento group informed the NBA at last week's meeting of the combined relocation and finance committees that it would match the Hansen offer. Another source said Friday that the match would include the $30 million nonrefundable deposit. NBA.com

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