Sources: Maloofs Won't Sell To Sacto, Form Backup Deal With Seattle

The Maloof family has "informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved" this week, they "will not sell the team" to the Sacramento-based group led by Vivek Ranadivé, according to sources. The Maloofs have "made a 'backup' agreement" with the Seattle-based group led by Chris Hansen and Steve Ballmer to sell 20% of the team for $125M, to "allow the Maloofs to continue to operate the franchise." The new plan "comes on the heels of Hansen's announcement on Friday that he had upped his offer" to buy the Maloofs' share of the Kings to $409M, which would "boost the value of the team at sale" to $625M (ESPN.com, 5/11).