In a strange twist of events, ESPN’s Brian Windhorst is reporting that the Maloof brothers, the current owners of the Sacramento Kings, could balk at the thought of selling the team to a Sacramento-based conglomerate.
After the city of Sacramento passed legislation that would allow for a new arena, it seemed as if the Kings staying in Sacramento was almost a formality. Now, sources are reporting that the Maloofs have made a sort of “handshake” agreement with a potential ownership group from Seattle. This group would reportedly either purchase 20% of the team from the Maloofs and allow them to keep running the team, or would buy the Maloofs 65% ownership stake for $409 million, blowing away the current offer from Sacramento.
The NBA relocation committee has already (two weeks ago) voted to deny the relocation request to Seattle, and that seemed to be the final straw for the Pacific Northwest in the talks. Sacramento’s prospective ownership group (led by billionaire Vivek Ranadive) has already been publicly celebrating their imminent purchase of the team, and Sacramento Mayor Kevin Johnson (the former Phoenix Suns point guard) has been publicly lauded for his efforts to keep the franchise at home.
This situation is far from settled, but with the latest “sources” reporting unrest in the talks, this is a situation that warrants close monitoring in the coming days. The city of Seattle clearly deserves an NBA team, and while Sacramento’s fight to keep the Kings has been beyond admirable, it should shock no one that the Seattle is back in the game. Stay tuned.