NBA owners reject Seattle's bid: Sacramento likely to keep Kings

2013-05-16T00:00:00Z NBA owners reject Seattle's bid: Sacramento likely to keep KingsThe Associated Press The Associated Press
May 16, 2013 12:00 am  • 

DALLAS - NBA owners voted Wednesday to reject the Sacramento Kings' proposed move to Seattle, the latest in a long line of cities that have tried to land the franchise.

The 22-8 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.

A group led by investor Chris Hansen had a deal to buy the team. Hansen hoped to move the franchise to Seattle and rename it the SuperSonics. The original Sonics were moved to Oklahoma City in 2008 and were renamed the Thunder.

Commissioner David Stern said the league will spend the next 24 to 48 hours talking to the Maloofs, the team's owners, about working out a deal with a competing ownership group in Sacramento.

"The big winner here was Sacramento," Stern said.

The Maloofs reached an agreement in January to sell a 65 percent controlling interest in the team to Hansen's group at a total franchise valuation of $525 million. Then Hansen increased his offer to $550 million. Following the relocation committee's unanimous recommendation on April 29 to deny the move to Seattle, Hansen and Microsoft CEO Steve Ballmer dug deeper into their pockets in a final attempt to sway the NBA Board of Governors.

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