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KeepOnRockin
Music Lover Forever
Premium
join:2002-11-08
Beaverton, OR
Reviews:
·Comcast

[NBA] Maloofs agree on deal to sell Kings

said by »espn.go.com/nba/story/_/id/88640···buy-team :
The Maloof family that owns the Sacramento Kings has reached an agreement to sell the controlling interest in the franchise to a Seattle group intent on moving it in time for next season.

Sources told ESPN.com that NBA teams were formally notified Sunday night that the Kings have been valued at $525 million and that the Maloofs and a group led by hedge fund manager Chris Hansen have executed a purchase and sale agreement, which the NBA confirmed through a statement Monday morning.

The Seattle group intends to file for relocation by the league's March 1 deadline.

I'm glad Seattle will have the Sonics team back.


I AM
Premium
join:2010-04-11
Ephrata, PA
kudos:4

YAH FOR SEATTLE! They get Kevin Durant a sure superstar for the rest of his career taken away to get back the Kings. Yah!



fatness
subtle
Premium,ex-mod 01-13
join:2000-11-17
fishing
kudos:14
reply to KeepOnRockin

A Maloof sounds like something from Star Wars. Wookies and Ewoks and Maloofs, oh my.
--
my pants are parched and thirsty



aurgathor

join:2002-12-01
Lynnwood, WA
kudos:1
reply to KeepOnRockin

Apparently, even though it may appear to be a done deal, that may not necessarily be the case.
»sports.yahoo.com/news/mayor-kj-t···nba.html

quote:
SACRAMENTO, Calif. (AP) -- Sacramento Mayor Kevin Johnson had a stern warning for Seattle SuperSonics fans who are excited about the prospect of the NBA returning to the Puget Sound next season.

''Don't celebrate too early,'' he said.

In front of a cheering City Hall crowd filled with fans and public officials Tuesday, Johnson introduced the first part of his four-step plan to keep the Sacramento Kings in California's capital city.

The three-time NBA All-Star guard turned mayor said he has secured 20 investors who have pledged at least $1 million each to be part of a local group to buy the franchise. Johnson said the major partners he hopes will anchor the last-ditch deal to keep the Kings from moving to Seattle will be revealed as soon as this week.
Methinks he should've gotten these people together a little earlier, but we'll see. Team moves can be messy and sometime involve lawsuits.
--
Wacky Races 2012!


KeepOnRockin
Music Lover Forever
Premium
join:2002-11-08
Beaverton, OR
Reviews:
·Comcast
reply to KeepOnRockin

I'll wait and see.

Evidently from another source, Kevin Johnson has at least one billionaire on board in addition to these 20.

Let's see if the investor group can pony up the $525 million and new arena plans before the deal goes through for Seattle.



I AM
Premium
join:2010-04-11
Ephrata, PA
kudos:4

I have some friends out there in Sactown. They sure do love their Kings.



pflog
Bueller? Bueller?
Premium,MVM
join:2001-09-01
El Dorado Hills, CA
kudos:3

said by I AM:

I have some friends out there in Sactown. They sure do love their Kings.

Yes we do. And the Maloofs are morons.
--
"I drank what?" -Socrates


I AM
Premium
join:2010-04-11
Ephrata, PA
kudos:4

I feel for you guys. I really do. Sac really does seem like a good basketball town. Can't blame the fans for not wanting to come out when they put garbage teams out there.