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Update: Mayor Johnson In Control Of Kings

As the Friday deadline looms for NBA franchises to file for relocation, Seattles hope of acquiring the Kings from Sacramento appears to be fading. Its now Sacramentos to lose, one NBA source close to the bidding process told David Baumann of Sports Talk Florida. The Seattle investment group was supposed to deliver a non-refundable $30 million dollars to the Maloofs (by Feb. 1), but it never happened. The Seattle group wasnt going to make that down payment without the NBAs approval to move the team.

UPDATED: Sacramento Mayor Kevin Johnson will continue the discourse on the Kings situation tonight at 9pm EST at his State of the City address.

 

The NBAs Board of Governors is scheduled to meet April 18th in New York City to decide on the transfer of ownership.

Adding to Seattles anxiety is the last ditch effort by Kings minority owner John Kehriotis to retain the team in Sacramento. It was reported Tuesday that Kehriotis had developed a financial plan in the range of $750M in order to purchase the franchise and build a new arena, according to FOX40 in Sacramento. The minority owners have right-of-refusal (to stop the sale), so their voice will be heard if they make a bid by Friday, the league source told Baumann. However, the source also suggested that Kehriotis buzzer-beating bid may be too haphazardly put together. This 11th-hour bid is nothing more than a distraction, if anything, the source said.

Former Kings star Mitch Richmond, whose #2 jersey was retired by the franchise, said Kehriotis' bid shouldn't be taken lightly. "I dont think its a distraction," Richmond told Sports Talk Florida. "I think if they have an opportunity to keep the team right there and someone comes in that 12th hour, I think the NBA has to take a look at that and not moving that team." Richmond also added, "My gut is the Kings will stay in Sacramento... What was missing was a new arena. If you come in with financial backing, I think the NBA will not move the team." (The audio portion of Mitch Richmond's complete interview will air on The David Baumann Show Thursday morning on 1040 The Team Tampa Bay and 1080 The Team Orlando)

Sacramento Mayor Kevin Johnson, who spent 12 seasons as a player in the NBA, has been leading a separate investment group aimed at keeping the Kings in town. This could present a challenge for Mayor Johnson and his group, said the league source. They (Kehriotis group) are mounting a separate bid away from the Mayors bid.

The source estimated that Johnsons bid was in the range of $580M. Johnson took to Twitter last week and delivered this message to his 39,000+ followers:

 

If the Kings and Mayor Johnson can come up with a fully-financed Arena plan, theres no way the NBA will move the team out of Sacramento, the source said. I think Mayor Johnsons group has pole position. He has spent the last four or five months lobbying the NBA. Commissioner Stern respects Kevin and the Mayors group will be heard.

It is unclear whether the Seattle-based, Chris Hansen-led investment group, which had plans of relocating the team to Seattle, has any last-ditch efforts up its sleeve to acquire the Kings. Theres nothing they can do, the source said. At the end of the day, they can just sit and wait.

I dont believe its going to come down to economics, Commissioner David Stern said at an All-Star Weekend press conference. I think the owners are going to have a tough issue to decide Its going to wait upon Mayor Johnson making good on his statement that there will be an offer. And its going to be upon the Sacramento area, a number of the regional municipalities and the various people who have been saying theyll give the mayor the support he needs.

Its plausible to me, Stern said of a Sacramentos bid ultimately topping Seattles offer for the team. But I dont have a vote. I expect the owners have a very open mind on this. Stern also added, I dont see any scenario in which both cities are happy here.

Two-thirds of the leagues owners must sign off on the relocation of a team. I just dont see that happening, the league source said. If you read between the Commissioners statements at All-Star Weekend, to me, hes saying, we do not want to take this franchise out of Sacramento.



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