Seattle, Sacramento vie for Kings
Officials from investor groups representing Sacramento and Seattle made pitches to a committee of 12 NBA owners and representatives Wednesday hoping to show that their city should be the Kings' home.
NBA commissioner David Stern and deputy commissioner Adam Silver were part of the panel, which included Oklahoma City's Clay Bennett, the owner that moved the former Seattle SuperSonics to Oklahoma City five years ago. Stern and others were permitted to ask questions after the presentations and then reviewed their findings privately.
The Seattle group, led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer, made a nearly two-hour presentation. Accompanied by Seattle mayor Mike McGinn and other officials, the group steered the panel through the proposed purchase of the Kings from the Maloof family. The Maloofs, who were part of the Seattle presentation Wednesday, agreed to sell a controlling interest in the team for $341 million to the group, which plans to relocate the team to the city the SuperSonics left for Oklahoma City in 2008.
"We're hopeful for an outcome in our favor," Hansen told reporters.
Former NBA player and personnel executive Wally Walker and two investors -- Peter and Erik Nordstrom -- joined the Seattle group in New York.
Sacramento has put together its own group, led by Mayor Kevin Johnson, and three of the investors behind a counter-offer for the team: Vivek Ranadive, Ron Burkle and Mark Mastrov. Last week, Johnson characterized the chances of the Kings remaining in Sacramento at "about 90 percent."
The competing presenters met with the Advisory Finance and Relocation committees, comprised of 12 owners. A vote is expected during the NBA Board of Governors meeting on April 18-19 in New York.
