NBA Owners Committee Votes Against Sacto Kings’ Move To Seattle
SACRAMENTO (CBS/AP) — After an emotional saga that has dragged on for nearly three years, the Sacramento Kings finally appear to be staying put in California’s capital city.
The NBA’s relocation committee voted unanimously Monday to recommend that owners reject the application for the Kings to relocate to Seattle, the latest – and by far the strongest – in a long line of cities that almost landed the franchise. The committee made the decision over a conference call and forwarded the recommendation to the NBA Board of Governors.
The board, which consists of all 30 owners, will convene during the week of May 13 to vote on the matter. While the recommendation doesn’t guarantee the Kings will stay put, it’s difficult at this point to imagine how they don’t.
Moments after the league announced the committee’s recommendation, Sacramento Mayor Kevin Johnston wrote on Twitter: “That’s what I’m talking about SACRAMENTO!!!!! WE DID IT!!!!!”
TIBCO software chairman Vivek Ranadive, the head of the Sacramento investor group Johnson assembled to mount a competing bid to keep the Kings, also expressed excitement.
“I’m speechless. Thanks to all of the amazing people who supported this great effort,” wrote Ranadive, a minority owner of the Golden State Warriors who could become the first Indian-born majority owner of an NBA team. He would have to sell his share in the Warriors if his group’s bid for the Kings is successful.
Who will own the Kings next season is still unclear.
The Maloof family reached an agreement in January to sell a 65 percent controlling interest in the team to a group led by investor Chris Hansen at a total franchise valuation of $525 million, topping the NBA-record $450 million that Joe Lacob and Peter Guber bought the Warriors for in 2010. Then Hansen increased his offer to $550 million, which implies buying the 65 percent stake for about $357 million.
Hansen hoped to move the team to Seattle and rename it the SuperSonics, the franchise that moved to Oklahoma City in 2008. Instead, those plans have suddenly crumbled.
The NBA Board of Governors is expected to follow the recommendation by the relocation committee, coincidentally headed by Oklahoma City Thunder owner Clay Bennett, already a reviled figure in Seattle.
Even still, the Maloofs are not bound to sell the team to the Sacramento group Johnson has put together. In a letter sent to the relocation and finance committees, the Maloofs said they preferred to sell to the Seattle group and expressed discontent with Sacramento’s latest bid, saying it falls “significantly short.”
NBA Commissioner David Stern has said the offers are in “the same ballpark.”
Spokesmen for the Maloof family and Hansen declined to comment on the committee’s recommendation. Seattle Mayor Mike McGinn pledged that his city will continue to fight for an NBA team.
“I’m proud of how Sonics fans have rallied together to help Seattle get a team,” McGinn said in a statement. “We’re going to stay focused on our job: making sure Seattle remains in a position to get a team when the opportunity presents itself.”
While the odds often seemed stacked against Sacramento, the city rallied each time.
In 2011, the Maloofs made plans to move the Kings to Anaheim, Calif., before Johnson convinced the NBA to give the city one last chance to help finance an arena. At one point, Johnson seemed so certain the team was gone he called the process a “slow death” and compared the city’s efforts to keep the Kings to a “Hail Mary.”
Johnson delivered on his promise of a new arena plan – which Stern helped negotiate – before last season. But in a stunning move, the Maloofs backed out of the tentative deal for a downtown arena, saying it didn’t make financial sense.
The city of Sacramento and the owners broke off talks, reigniting fears the franchise could relocate. Cities such as Virginia Beach, Las Vegas and Kansas City surfaced as potential new homes.
In January, the Maloofs caught Sacramento – and to a certain extent, the NBA – by surprise when they announced the deal with Hansen’s group, which includes Microsoft CEO Steve Ballmer and members of the Nordstrom department store family.
Led by Johnson, Sacramento fought back to make the sale and relocation of the Kings tough for the league to recommend. He pushed a non-binding financing plan for a $447 million downtown arena through the Sacramento City Council – complete with a $258 million public subsidy – and lined up an ownership group to try to compete with the powerful Seattle contingent.
The potential Sacramento ownership group also includes 24 Hour Fitness founder Mark Mastrov, former Facebook senior executive Chris Kelly and the Jacobs family that owns communications giant Qualcomm.
Johnson, a former NBA All-Star point guard known best by his initials “KJ,” also commended Seattle for its efforts and wrote that the Pacific Northwest city “no doubt deserves a team in the future.”
“I feel good for KJ because he’s worked so hard,” said interim Brooklyn Nets coach P.J. Carlesimo, who worked with Johnson at NBC and coached the Sonics in their last season. “If it goes down that way, there’s no question who deserves the credit because, I mean, they could’ve rolled over a long time ago. Kevin just really made this happen, which is great.”
Seattle is now back to wondering when, and if, the NBA will ever return.
Hansen’s purchase agreement with the Maloofs seemed the perfect solution for the heartache that has lingered in the Puget Sound since the Sonics – and their 41 years of history – were moved to Oklahoma City. Hansen spent nearly two years working to get an arena plan approved by the city and county governments and spent more than $65 million buying land in Seattle’s SoDo neighborhood where the arena would be built.
In the last few months, fan interest and support seemed to be at its highest since before Bennett purchased the team from Howard Schultz in 2006. Now those same fans are stuck waiting to see what the next move by Hansen and Ballmer will be, including mounting an effort for expansion or buying another team.
Hansen has a five-year memorandum of understanding with the city and county on the arena plan. Whether momentum for the NBA in Seattle will remain also is unclear.
“I’m disappointed, but undeterred in our quest to bring NBA basketball back to the Pacific Northwest,” said King County Executive Dow Constantine. “Today’s decision doesn’t mean this effort is over. From what I saw at the presentation in New York, Chris Hansen and his team have made the superior offer and the best pure business case for the NBA to return to Seattle. We have a documented fan and business base ready to step forward when the time comes. We are patient, but determined.”
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