SBD/January 18, 2013/Franchises

Stern Has Not Seen Sale Agreement Regarding Kings; Sac Mayor To Address NBA BOG

Stern confirmed a Sacramento ownership group will be allowed to propose a bid
NBA Commissioner David Stern Thursday said "no purchase and sale agreement has been submitted to us" regarding the Kings and their potential relocation to Seattle. Speaking prior to the Knicks-Pistons game in London, Stern said, "We assume if one were going to be executed, the next thing they would do is submit it to us." He acknowledged there has been "lots of speculation ... of what’s going on” with the team. Stern noted the league has been in contact with Seattle city leaders and hedge-fund manager Chris Hansen, who has reportedly been interested in acquiring the Kings. Stern: “We are more or less in a series of communications but right now we don’t know anything in terms of actionable plans” (NBA TV, 1/17). In Seattle, Bob Condotta reports Stern "confirmed that Sacramento Mayor Kevin Johnson will be given a chance to address the NBA Board of Governors or the Relocation Committee this spring to state the city's case." Stern indicated that the move is a "courtesy given cities that have been supportive of teams." Stern: "Sacramento has been particularly supportive" (SEATTLE TIMES, 1/18).

LOCAL GROUP COMING TOGETHER: KXTV-ABC’s Nick Monacelli cited sources trying to keep the Kings in Sacramento as saying that a local ownership group “is forming faster and better than expected.” The source said that the group “could be announced as early as next week.” Johnson “admits big names with deep pockets are being added to the equation.” He said, “There’s not one or two, there’s multiple people that are interested. Once it leaked and once it became public that there was a potential deal in Seattle, my phone hasn’t stopped ringing. These are people that have significant dollars and these are people that want in at different levels” (NEWS10.com, 1/17).
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