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Report: Maloofs' 'backup plan' nixes Sacramento bids

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10:51 AM ET 05.12 | The group trying to move the Sacramento Kings to Seattle is continuing to be relentless in its pursuit. And the NBA could be listening. The Maloofs have informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved by league owners next week, they will not sell the team to a Sacramento-based group that promises to keep the team in Sacramento, two sources told ESPN.com on Saturday. The cash-strapped Maloofs have made a "backup" agreement with a Seattle-based group led by the deep-pocketed Chris Hansen and Steve Ballmer to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise, the sources said. That new plan comes on the heels of Hansen's announcement on Friday that he had upped his offer to buy the Maloofs' 65 percent of the Kings from $358 million to $409 million, which would boost the estimated value of the team at sale to $625 million.

ESPN

Gavin Maloof, Joe Maloof, Rocky Widner/NBAE via Getty Images Gavin Maloof, Joe Maloof, Rocky Widner/NBAE via Getty Images
May 12, 2013  11:03 AM ET

Just Leave Already, Bros.

May 12, 2013  11:08 AM ET

Like a Damn Soap Opera...

May 12, 2013  11:19 AM ET

Who cares?

Comment #4 has been removed
May 12, 2013  11:36 AM ET

Looks like Kevin Johnson wants to keep this issue going so he can run for Congress next.

May 12, 2013  11:51 AM ET

Phil Jackson will be the president/GM once they move to Seattle. He'll be close to his Montana ranch and Jeannie. At least, this is a popular rumor making the rounds.

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May 12, 2013  12:15 PM ET

again if anyone really thought hansen and balmer and the maloofs were just going to rollover and play dead you were sadly mistakne and it looks like either now or two years this team is going to move in two years. Plus again look at the offer my hansen and balmer, the grizzlies sold for 330 and the warriors sold for 450, so look at there offer its 120 million less then what the last two teams have sold for to stay put. Again if Stern does let this deal go through you know who makes this the most happiest it the bigger name teams like the lakers and celtics and knicks, because they could easily sell for 800 million

Comment #11 has been removed
May 12, 2013  12:43 PM ET
QUOTE(#8):

Made up BS.

That's why it's called a RUMOR.


I hope they get it over with and just move. Maloofs got control, they won't sell to Sac investors. Done deal.

 
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