Although the Kings have now been sold to a Seattle-based group of investors, the city of Sacramento hasn't given up the fight to keep the team.
Kings sale: Mark Mastrov, Ron Burkle reportedly serious candidates to keep team in Sacramento
Two ‘heavy hitters’ from Northern California have reportedly joined forces to submit a last-ditch ownership bid to keep the Kings in Sacramento.
Kelley L Cox-USA TODAY Sports
To have any chance of keeping their team, Sacramento Mayor Kevin Johnson would need to assemble a group of local buyers that can match the Seattle offer before his presentation to the NBA’s Board of Governors.
According to a report from Sam Amick of USA Today, Johnson may have found his “heavy hitters” on Tuesday in the form of 24 Hour Fitness founder Mark Mastrov and local billionaire Ron Burkle, a co-owner of the NHL’s Pittsburgh Penguins.
The Seattle-based group, headlined by Chris Hansen, has agreed to give the Maloofs $341 million for their 65 percent share of the Kings franchise for a valuation of $525 million. It’s an eye-popping sum that would raise the value of every other NBA franchise, but it could be a PR disaster for the league if it doesn’t allow Sacramento the chance to match that offer.
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