SBD/Morning Buzz

Report: Kehriotis Putting Together Competing Bid For NBA Kings

NBA Kings limited partner John Kehriotis reportedly "plans to exercise a right of first refusal and is heading a group that is close to offering a competing bid to purchase the franchise" and build a new arena "that does not require city/county subsidy." Jim Crandell of KTXL-Fox last night reported that Kehriotis, who owns 12% of the team, has secured a $350M commitment from investors and a "verbal agreement" for another $400M (SACBEE.com, 2/25).
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