A steady stream of news continues to filter in as we head into a pivotal Wednesday vote to hopefully decide once and for all the future of the Sacramento Kings.
Up until now, there has been a bit of confusion on what exactly the NBA would be voting on on Wednesday. Would they be voting on just relocation, or also bids to buy the team from the Hansen-Ballmer group and the Ranadivé group?
According to an NBA memo, the NBA will tomorrow vote on relocation first. If relocation is denied (the NBA's relocation committee recommended 7-0 to not relocate the team on April 29th) then the Hansen-Ballmer deal for 65% of the team at a $625 million valuation is dissolved. This likely means that such an offer was always contingent upon relocation.
Then, if relocation is denied and the first deal dissolved, the next bid on the table would be the Hansen-Ballmer "Plan B", to buy 20% of the Kings for $125 million while allowing the Maloofs to retain control and participate in a "good-faith effort" to make things work in the NBA. 23 of the 30 NBA owners would need to approve such a sale, which is unlikely. I'm pretty biased though, so let's take it to Ken Berger:
Asked an owner today if Hansen backup plan with Maloofs is a game-changer. "It doesn't make any sense to me," he said.— Ken Berger (@KBergCBS) May 14, 2013
Finally if all of the above is denied, the NBA owners could then vote on the Sacramento Group's offer but ONLY if the Maloofs agree to it. If not, we're in a bit of a stalemate until they do, but it's more likely to be a when, not if, scenario. According to a recent report by Aaron Bruski, the NBA believes it has the necessary leverage to get the Maloofs to accept the Ranadivé offer without having to use a "Best Interest of the League" clause. The Bee and Sam Amick have both reported that the Maloofs have not stopped speaking with the Ranadivé group, despite earlier reports that they had told owners they would not sell to them.