NBA in Seattle

NBA owners: Sacramento Kings to stay put

Martha Kang and The Associated Press — Wed, 15 May 2013 22:20:28 +0000

NBA owners voted Wednesday to reject the Sacramento Kings' proposed move to Seattle.

The 22-to-8 vote followed a recommendation made last month by the NBA's relocation committee and may have finally brought an end to an emotional saga that has dragged on for nearly three years.

"This was not an anti-Seattle vote; this was a pro-Sacramento vote," said NBA Commissioner David Stern.

With NBA's final decision looming, Hansen ups bid

Martha Kang and Gabriel Spitzer — Fri, 10 May 2013 19:23:48 +0000

With Sacramento Mayor Kevin Johnson already celebrating his city’s victory in the bid to keep the Kings in town, Chris Hansen and his Seattle-based investment group upped the ante on Friday.

Hansen said his group has raised the proposed purchase price for the franchise by $75 million, bringing the total to $625 million “in an effort to further demonstrate the extent of our commitment to bring basketball back.” The group also guaranteed to the league that the franchise would be a revenue sharing payer, Hansen said.

NBA committee recommends denial of Kings move to Seattle

Keith Seinfeld — Mon, 29 Apr 2013 21:37:13 +0000

It appears there will be no professional basketball in Seattle this year.

The NBA’s relocation committee has favored keeping the Kings franchise in Sacramento, turning down a bid to revive the Sonics.

The unanimous vote leaves a number of questions about what happens next for investor Chris Hansen and his attempts to bring the Sonics back to Seattle.

Letter: Maloofs favor Seattle's deal for Kings

The Associated Press — Fri, 19 Apr 2013 19:31:26 +0000

The Maloof family is asking NBA owners to approve the sale of the Kings to a Seattle group, saying there is "significant distance between us and the Sacramento group."

In a letter sent to the NBA's relocation and finance committee, and obtained by The Associated Press on Friday, the Maloof family said the Sacramento group originally matched the $525 million valuation for the franchise that Chris Hansen negotiated. Hansen then increased the valuation offer to $550 million last week.

Stern to McGinn: Don't expect Kings decision this week

Ashley Gross and The Associated Press — Tue, 16 Apr 2013 20:20:30 +0000

Don’t expect a decision this week on the fate of the Sacramento Kings.

Seattle Mayor Mike McGinn said NBA Commissioner David Stern cautioned as much during a phone call on Monday. The mayor said he had called to tell the commissioner that “we were pushing ahead here in Seattle."

"He informed me then that he does not expect a decision out of the NBA on Friday, that it will be sometime after the meeting that we’ll get a decision made," McGinn said.

Sacramento mayor reveals new investor in Kings bid

The Associated Press — Tue, 09 Apr 2013 19:00:22 +0000

Sacramento Mayor Kevin Johnson has announced a new investor to help fill the role vacated by billionaire Ron Burkle in the city's bid to keep the Kings from moving to Seattle.

Economist says Sacramento Kings fight may yield antitrust lawsuit

Ashley Gross — Mon, 08 Apr 2013 15:49:14 +0000

As the NBA weighs whether to allow the Kings basketball team to move to Seattle from Sacramento, the league has to consider the possibility of an antitrust lawsuit.

Why should the Sacramento Kings be worth more than $500 million when they’re nowhere near the top of the league? Sports economist Roger Noll of Stanford University says it’s simple: a scarce supply of teams. That's by design, he says, because NBA owners want to keep their franchises valuable. And that exposes the league to a possible lawsuit.

Hansen: More than 44,000 requests for full-season tickets

Martha Kang — Tue, 02 Apr 2013 23:09:10 +0000

Investor Chris Hansen says his group’s website has seen “stunning" interest from Seattleites who want to bring an NBA team to the city.

“We received requests for over 44,000 full season tickets, 268 suites and had 983 businesses interested in sponsorship opportunities,” he said, adding 32,000 of the requests for full-season tickets came within the first 24 hours after the priority ticket waitlist went live on sonicsarena.com.

Sacramento council approves Kings arena deal

The Associated Press — Wed, 27 Mar 2013 05:37:11 +0000

Sacramento is in a stronger position to convince the NBA to keep the Kings from moving to Seattle with a deal now in place to build an 18,500-seat arena downtown.

The Sacramento City Council voted 7-2 Tuesday to approve a deal that contributes $258 million to the $447 million project. The city plans to use money earned from leasing parking garages for events at the arena to help pay the public cost of the new arena on the current site of an aging shopping mall.

Hansen: Arena will have balconies, court-side suites

Martha Kang — Thu, 14 Mar 2013 00:38:39 +0000

Chris Hansen and his group of investors have released preliminary design renderings of Seattle’s next basketball arena.

The plan features “non-traditional elements” including three stacked balconies in lieu of top rows above the seating bowl, Hansen’s group said on sonicsarena.com.

Ball in Sacramento's court in battle with Seattle over Kings

Kirsten Kendrick and Art Thiel — Fri, 25 Jan 2013 13:00:00 +0000

The agreement to sell the Sacramento Kings to a Seattle investment group - with the goal of moving the team to Seattle - is not a slam dunk. It still needs NBA approval. And momentum is growing in Sacramento to try to keep the Kings there.

KPLU sports commentator Art Thiel tries to clear up some of the confusion Seattle fans may have about what's going on.

AP reports that the Maloof family has agreed to sell Kings

The Associated Press — Mon, 21 Jan 2013 06:00:36 +0000

Two people familiar with the decision says the Maloof family has agreed to sell the Sacramento Kings to a Seattle group led by investor Chris Hansen.

The people spoke on condition of anonymity to The Associated Press on Sunday night because the deal is still pending approval from the NBA Board of Governors.

One person said the Maloofs are selling all 65 percent of their share for $525 million to Hansen, who will move the team to Seattle and restore the SuperSonics name.

The Maloofs will still be allowed to look at other bids until the league approves the sale.

Sacramento mayor to present counteroffer for Kings

The Associated Press — Tue, 15 Jan 2013 18:52:09 +0000

Sacramento Mayor Kevin Johnson says he has received approval from NBA Commissioner David Stern to present a counteroffer to the league from investors who would keep the Kings in California's capital city.

Speaking at the annual State of Downtown Breakfast on Tuesday, Johnson says the city is in a "six-week sprint" to put together a proposal for the NBA's Board of Governors to consider. The league's deadline for teams to apply for relocation is March 1.

What Seattle’s NBA arena might look like

Jake Ellison — Fri, 16 Nov 2012 22:37:56 +0000

City and county officials said yes to the $490 million deal, so Chris Hansen et al. have submitted a preliminary design for the proposed NBA arena to be located in Seattle’s SODO neighborhood.

Legislation signed on new Seattle arena deal

The Associated Press — Tue, 16 Oct 2012 22:00:55 +0000

King County Executive Dow Constantine and Seattle Mayor Mike McGinn have signed legislation on the funding plan for construction of an arena that could be used to lure the NBA back to Seattle.

The executives signed the deal on Tuesday after a negotiated memorandum of understanding between the city, county and investor Chris Hansen was approved by the city and county councils a day earlier.