KFBK has learned that the majority owners have also taken out a line of credit with the NBA for roughly $75-million.
Kings' spokesman Mitch Germann said the team used the line of credit. However he would not confirm nor deny the current balance. "As a privately held company, the team does not release specific financial figures."
...Those close to the negotiations say Samueli and the Maloofs are not sure they have enough support from the rest of the league's owners to approve the move. Kings officials have said all four Maloof brothers will be attending the NBA Board of Governors' meetings this week in New York City to try and convince at least 15 other teams to allow the Kings to relocate.