There’s a new development in the tug o' war over the Sacramento Kings and efforts to bring the NBA back to Seattle.
If the NBA refuses to sell the Sacramento Kings to Chris Hansen, Steve Ballmer, and the Nordstroms, the current owners - the Maloofs - will not sell to the Sacramento group.
Sources tell KING 5 that the Maloof family have unequivocally, three times, told the NBA they will not accept a back-up bid from the Sacramento group.
The Maloofs have already agreed to a back-up deal with the Hansen group. The Seattle contingent will buy 20 percent of the Kings for $116 million.
This deal would allow the Maloofs to continue to run the club.
On Friday, Hansen raised the stakes in the effort to bring the Kings to Seattle.
Seattle’s lead investor told the NBA Friday he will raise his bid on the Kings franchise to $625 million, an increase of $75 million on his previous bid. Hansen had already raised the valuation of his bid to $550 million in an attempt to sway NBA owners.
The NBA is scheduled to vote on the Kings purchase agreement on Wednesday.