Despite reports that the Sacramento Kings' sale to Seattle is complete, Sacramento Mayor Kevin Johnson says that he "remains focused" on putting together an ownership group that could potentially save the Kings.
Kings sale: Kevin Johnson ‘remains focused’ on countering Seattle deal
Sacramento Mayor Kevin Johnson will continue to work to assemble an ownership group to counter Seattle’s deal to buy the Kings.
Kelley L Cox-USA TODAY Sports
Johnson has been working hard in recent weeks to put together a Sacramento-based ownership group that could match the offer made by Chris Hansen’s Seattle group. The Maloof family reached an agreement to sell a 65 percent majority stake in the Kings to the group led by Hansen. The Kings have been valued at about $525 million, so Hansen’s group would pay about $340 million if the deal goes through.
Yahoo! Sports’ Adrian Wojnarowski reported that the NBA’s Relocation Committee will likely approve the deal, but Johnson and his group will still be allowed one last chance to present an offer to the NBA’s Board of Governors. The Sacramento-based group would likely have to come up with an offer in the $425-450 million range to have a chance.
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