Sold!
The Sacramento Bee has broken the news that the Maloofs have agreed to sell their majority share of the team to the Sacramento group led by Vivek Ranadivé for $535 million. The official announcement will come tomorrow.
News
NBA Officially Votes Down Relocation
Here. We. Stayed.
George Maloof and the NIMBYs
George Maloof gives one of his longest interviews in the past year to Bryan May, and two anti-arena groups reveal their plans to try to stop the development of a downtown Entertainment and Sports Complex.
Hansen-Ballmer Bid Dissolves if Relocation Denied
The Bee's Ryan Lillis went on the Carmichael Dave Show today and introduced a fascinating bit of news, straight from an NBA memo...
Relocation Committee Stands Firm
Despite recent efforts by the Hansen-Ballmer group to sweeten their offer, the NBA's relocation committee stood by their original recommendation to keep the Kings in Sacramento.
Report: Maloofs Won't Sell to Vivek, Have Plan B
A day after the Seattle group led by Chris Hansen raised their bid in a last second attempt to change the NBA's mind on approving the sale, the Maloofs reportedly play their own cards.
Hansen Raises Bid to $625 Million
The Seattle Group makes a big play leading up to the Board of Governors Meeting on May 15th.
Sac Group Asked to Deposit 100%
The Sacramento Bee is reporting that the Sacramento group led by Vivek Ranadivé is being encouraged by the NBA to place the full $341 million into escrow in order to persuade the Maloof family to sign a deal with them.
Sacramento Group Offers Concessions to NBA
A new report by the Sports Business Journals details the substantial lengths the potential Sacramento Kings ownership group has gone to in order to prevent the Kings from moving to Seattle.
HERE WE STAYED
After months of worry and angst, the saga is coming to an end as owners reject relocation once more.
Recommendation Coming Monday
The fate of the Sacramento Kings could very well be decided by 12 owners on a conference call on Monday.
Little Clarity on Kings Future After BoG Meetings
The two day Board of Governors meetings concluded today and while the Sacramento Kings were a topic of discussion, an answer on the future of the Kings still appears to be a while away.
Maloofs Prefer Seattle Offer
As the first day of full meetings for the NBA Board of Governors wrap up, the Bee reports that the Maloof Family continues to prefer Seattle's offer for the Kings.
NBA Decision on Kings Still Weeks Away
The NBA super-committee in charge of deciding whether or not the Sacramento Kings should be sold and relocated to Seattle or not held a meeting today before the end of season Board of Governor's meetings.
Sacramento Adds Two More Investors for Kings Bid
The Sacramento Bee reports that two more investors have joined Sacramento's group: Naren Gupta and Andy Miller. The Bee also details Vivek Ranadivé's plans to make the Sacramento Kings a global brand.
Seattle Group Increases Bid for Kings
The Bee's Tony Bizjak reports that the Hansen-Ballmer is contemplating increasing their bid for the Sacramento Kings by $25 million after the Sacramento group led by Vivek Ranadivé indicated they would match Seattle's offer.
Sacramento will not match on Cook's 7%
In a change in strategy, Sam Amick reports that Sacramento will not match Chris Hansen's bid on Bob Cook's 7% minority ownership. Since the minority share sale will still require BOG approval, it is not viewed as critical by Kevin Johnson and crew.
Former Facebook Exec Chris Kelly Joins Sac Group
The Sacramento Bee reports that former Facebook executive Chris Kelly has joined Sacramento's group. Mayor Johnson, Vivek Ranadive and Kelly himself all confirmed the report on Twitter.
Report: Sacramento Expected to Match Seattle's Bid
In his latest piece for USA Today, Sam Amick writes that Sacramento is expected to fully match Seattle's offer for the Kings. He also sheds some light on why the Maloof Family has set a deadline and whether or not Seattle can up their bid should Sac
Maloofs Give Sacramento Group Deadline for Bid
The Bee's Tony Bizjak reports that the Maloof Family is giving Sacramento a deadline of 5 P.M. on Friday to submit an offer that is equal to Seattle's in order to be considered should the NBA deny their sale to Seattle.
Report: Sacramento has Matched Seattle Offer?
In the first definitive statement about Sacramento's counter-bid to keep the Kings, CA State Sen. Darrell Steinberg says that Sacramento has matched Seattle's offer dollar-for-dollar. However, he later backtracked.
Local Developer Mark Friedman Joins Kings Bid
Following yesterday's departure of Ron Burkle, local developer Mark Friedman has joined Sacramento's bid to keep the Kings and build a new arena in downtown Sacramento. Friedman calls his commitment "substantial".
Burkle out of Sac's Group, Will Help "Indirectly"
A report today indicates that Ron Burkle has decided to focus solely on development around arena due to a conflict of interest while another report indicates that the Sacramento group is planning to be much less leveraged than Seattle.
Sacramento & Seattle Arena Deals Come to Forefront
Delegations from both Seattle and Sacramento made presentations to the NBA today in New York. Little was revealed in the press conferences afterwards, but it's clear that the central issue has now become both cities arena deals.
Corporate Sponsors and Season Ticket Push Unveiled
Mayor Kevin Johnson has unveiled his list of Corporate Sponsors who he says have pledged $50 million over five years. The Mayor also has set a goal of trying to get 10,000 season tickets pledged at HereWeBuy.org
Hansen buys Cook's 7% share of Kings
News10's Nick Monacelli reports that Bob Cook's bankruptcy lawyers have wrapped up negotiations with Seattle's Chris Hansen to sell his 7% of the team for $15.1 million.
