Hansen increases bid for Kings to $625 million

  • By Tim Booth Associated Press Writer
  • Friday, May 10, 2013 1:02pm
  • SportsSports

SEATTLE — Chris Hansen has increased his offer for the Sacramento Kings from $550 million to $625 million in another attempt to sway NBA owners to allow him to buy the franchise and move it to Seattle.

Hansen also announced on his website Friday that he has guaranteed owners that the franchise would pay into the league’s revenue-sharing system in Seattle and not collect money as it has in Sacramento.

Hansen has had a deal since January to buy a 65 percent controlling interest in the Kings from the Maloof family. He originally offered a total valuation of $525 million, then increased that offer to $550 million after a competing Sacramento group matched his deal. He hoped to move the team to Seattle and rename it the Sonics, who were relocated to Oklahoma City and renamed the Thunder in 2008.

The NBA’s relocation committee voted 7-0 last week to recommend that the NBA Board of Governors — which consists of all 30 owners — reject the Seattle move. The board is expected to vote on the issue at its meeting in Dallas on Wednesday.

Hansen, in his Friday statement, said the Seattle group’s arena proposal was more advanced than the one in Sacramento. He said the Seattle ownership group had bought all of the needed property, had 100 percent of the private financing “committed and in place” and added that the environmental review process was further along.

“While we appreciate that this is a very difficult decision for the league and owners, we hope it is understood that we really believe the time is now to bring the NBA back to Seattle, and that it is paramount that we do everything we can to put Seattle’s best foot forward in this process,” Hansen said.

Sacramento Mayor Kevin Johnson said the city “felt very confident” about keeping the Kings in California.

“The NBA leadership and owners have always said that their decision would not be dictated by a bidding war. This was always about whether Sacramento, a community that has supported the NBA for 28 years, can put together a plan and organization to ensure the franchise can rebuild and thrive,” he said in a statement.

More in Sports

Grading the Seahawks’ 42-7 loss to the Rams

Plenty of failing grades after the much-anticipated NFC West showdown dissolves into a beatdown

Carroll: ‘That was a really dismal performance’

Seahawks’ playoff hopes dim with a 42-7 drubbing by the Rams

CHART: A look at the Everett CC women’s basketball team

Here are stats and information on the Trojans, who are off to a 9-1 start and ranked No. 3 in NWAC.

Russell Wilson: ‘They beat us pretty good today’

The veteran QB suffers his most lopsided defeat since joining the Seahawks in 2012

Silvertips rout Portland 8-3, move into first place

Everett heads into the Christmas break having won 11 of its past 12 games

Snohomish cancer awareness night to honor late teacher, coach

Snohomish High School is holding a cancer awareness night during Tuesday’s girls… Continue reading

UCF’s Scott Frost wins Associated Press Coach of the Year

He led the Knights to 12-0 record before accepting the head-coaching job at Nebraska

Cubs finalize two-year deal with former Mariner reliever

Steve Cishek says he’s ‘beyond thrilled to be a Cub’

POLL: Who was the Silvertips’ MVP in the first half

Several Everett players were outstanding as the Tips hit the Christmas break in first place.

Most Read