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-   -   Mayor Kevin Johnson to present counter-offer to keep Kings (http://www.insidehoops.com/forum/showthread.php?t=287414)

insidehoops 01-15-2013 03:42 PM

Mayor Kevin Johnson to present counter-offer to keep Kings
 
With a Seattle group working to acquire the Kings, Mayor Kevin Johnson said this morning that he has received approval from NBA Commissioner David Stern to present a counter offer for the Kings directly to the NBA's board of governors.

Calling a reported $525 million offer for the team that's being floated by a Seattle group "outrageous," the mayor said during the annual State of Downtown address that he has developed a strategy to keep the Kings in Sacramento.

Johnson said he is looking for potential owners who would keep the team in Sacramento to bid against the Seattle offer led by hedge-fund manager Chris Hansen. A new arena "must be part of the transaction" and the ownership group must include local partners, Johnson said.

-- Sacramento Bee

insidehoops 01-24-2013 03:30 AM

Re: Mayor Kevin Johnson to present counter-offer to keep Kings
 
Sacramento Mayor Kevin Johnson is fighting back, saying he will put together a group that will make a competitive offer to buy the Kings and keep them in town, putting the decision in the hands of the NBA and its 30 owners.

While the rich and powerful battle it out (not you, Maloofs), we've received numerous calls from fans asking what they can do to convince the NBA that the Kings shouldn't be moved.

-- Sacramento Bee

insidehoops 01-25-2013 05:27 AM

Re: Mayor Kevin Johnson to present counter-offer to keep Kings
 
The Maloofs' plan to sell the Sacramento Kings to a Seattle group ran into a pair of hurdles Thursday a possible counteroffer from America's third richest man and a potential legal challenge from at least one of the Maloofs' own limited partners.

Larry Ellison, one of the titans of Silicon Valley, is expected to meet soon with Sacramento Mayor Kevin Johnson about the Kings situation, according to Kings minority owner Bob Cook.

With Cook complaining the Maloofs have improperly shut limited partners out of the bidding, Ellison's potential interest in the team ramps up the drama even higher. The software tycoon is worth $41 billion and was an unsuccessful bidder for the Golden State Warriors in 2010.

-- Sacramento Bee

insidehoops 01-30-2013 10:54 AM

Re: Mayor Kevin Johnson to present counter-offer to keep Kings
 
With two proud cities fighting for control of the Sacramento Kings, the National Basketball Association will soon be called upon to pick a winner.

But how?

One city, Seattle, has signed a tentative, $340 million deal with the Maloof family to buy and move the team, and appears to have the inside track. Sacramento, in turn, is expected to counter any day now with a bid of its own, and has been gaining momentum in recent days.

It's unprecedented, said Bay Area sports consultant Andy Dolich, a former NBA team executive. "This is a unique circumstance. We have a thoroughbred horse race."

A decision is expected in mid-April, when the 30 NBA owners convene for a postseason board of governors meeting in New York.

-- Sacramento Bee

insidehoops 02-13-2013 05:38 AM

Re: Mayor Kevin Johnson to present counter-offer to keep Kings
 
Mayor Kevin Johnson close to unveiling plan to keep Kings in Sacramento

As he prepares to head to Houston this weekend to lobby the NBA's team owners to keep pro basketball in Sacramento, Mayor Kevin Johnson said he is getting "very close" to revealing the deep-pocketed investors he has recruited to make a pitch to buy the franchise.

Those investors - along with a plan for a new downtown arena - would be the foundation of Johnson's argument to the NBA to block a deal the Kings' owners have to sell the franchise to a group that would move the team to Seattle in time for the 2013/14 season.

Johnson said he is working against a March 1 deadline to secure those investors and an arena plan. That date is the deadline for a team to file for relocation, which the Kings did last week.

The mayor is expected to make his pitch to the league's Board of Governors - made up of team owners - in New York in mid-April.

-- Reported by Ryan Lillis of the Sacramento Bee


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