NBA committee meets today to discuss Kings situation

NBA committee meets today to discuss Kings situation

Credit: NBAE/Getty Images

Isaiah Thomas #22 of the Sacramento Kings drives to the hoop against the New York Knicks on December 28, 2012 at Sleep Train Arena in Sacramento, California.

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by KING 5 News

KREM.com

Posted on May 13, 2013 at 12:49 PM

Updated Tuesday, Nov 19 at 1:22 PM

The NBA’s relocation and finance committee will meet again Monday by conference call, two days before the league’s Board of Governors decides whether to allow a group led by Chris Hansen to buy the Sacramento Kings and move them to Seattle. It comes days after Hansen made a bold increase to his offer.

The seven members of the relocation arm of that committee voted unanimously last month to recommend against moving the team, but that was before Hansen increased his offer by $75 million to a total of $625 million last Friday.

A Sacramento-based group has offered a competing bid.

The NBA has said a bidding war will not determine the outcome of whether the team stays in Sacramento or moves to Seattle. But, sources say the Maloof family has told the NBA three times that it will not sell to the Sacramento group.

The Maloofs have agreed to a back-up bid from the Hansen group that would allow them to buy 20 percent of the team for $116 million. The deal would allow the Maloofs to continue to run the club.

When all 30 NBA owners meet in Dallas Wednesday, at least 23 of them must approve the sale, but only 16 of them need to approve relocation.

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