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

Seahawks’ reign in the NFC West appears to be over

With Sunday’s big 42-7 win, the Rams look like the team to beat now and for the immediate future

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

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

REFLECTIONS: Silvertips enter break first in Western Conference

It seems impossible, but the Everett Silvertips are in first place in… Continue reading

Washington men stave off Loyola Marymount 80-78

Noah Dickerson’s 13 points in the final five minutes help Washington hold on

VIDEO: Postgame reaction to the Seahawks’ loss to the Rams

Seattle coach Pete Carroll and players speak after the Seahawks’ 42-7 loss to Los Angeles.

RPI has changed way hoops coaches approach non-league games

The implementation of RPI for state-tourney seeding has local basketball coaches thinking differently.

Most Read