It’s being reported now by Yahoo! Sports that the NBA’s Relocation Committee had a conference call with the group led by Chris Hansen and Steve Ballmer, regarding the sale of the Sacramento Kings. The purpose of the conference call was to discuss “deal point”, and to pave a road that would allow the Kings to move to Seattle in time for the start of the 2013 NBA season in Key Arena.
The Maloof’s own 53% of the Kings and the Hansen-Ballmer group would look to buy their share out entirely while also purchasing 12% of the Kings that is held by Bob Hernreich. The $525m sale is based off of the value for the entire franchise, and if completed for that amount, would set a record price paid for an NBA franchise.
Even though the Maloof’s are willing to sell the franchise, it’s being said that they expected to have some ownership and say in how the team operates. The Hansen-Ballmer group quickly squashed that idea and say the sale also hinges on the Maloof’s having zero part of the Sonics franchise.
Once a team is relocated to Seattle, the team will be renamed the SuperSonics and will play in the Sonics’ former home, Key Arena, for two seasons while construction of a new downtown NBA/NHL arena is completed. For the 2013 NBA season to begin with a SuperSonics franchise, however, relocation paperwork must be submitted by a March 1st deadline.
An interesting note: The Chairman of the NBA’s relocation committee is none other than Clay Bennett, the “gentleman” that is responsible for the original SuperSonics franchise moving to Oklahoma City.