NEW YORK – Chris Hansen enticed NBA leaders and owners with the Seattle separate's deep pockets, impressive pecuniary and arena give upation, and desire to bring pro basketball confirm to the Emerald City.
The capital of California group also came with a executable financial and arena plan, and billionaire Vivek Ranadive intrigued the league with his vision, which Ranadive called NBA 3.0 – the next phase of the league direction on technology, globalization and sport as an agent of change.
All truly impressive, NBA Commissioner David rigid and Deputy Commissioner concluded on Wednesday after audition to the two groups make their pitch to buy the Kings – Hansen wanting to break bulge the team to Seattle and Ranadive trying to keep the team in capital of California.
BETRAYAL?: Kings owner posteriors Seattle group
But john and gold, along with a committee comprised of owners or team chairmen, stop a long day with many unresolved issues.
The refrain line for the sale of the Kings may non be the fetch up line at all.
With so much at military post – the sale and potential motility of an NBA franchise – the NBA might not capture a decision on the purchase of the Sacramento Kings by the conclusion of the league's Board of Governors meeting on April 19.
"We study a lot of work that we have to do from a construction timeline, a regulatory timeline, an ownership and capital coordinate timeline, and all kinds of other things that the committee has asked us to go back with lawyers and just get a lot more data and information," Stern verbalise.
Sale of the team requires 3/4 approval from owners, and relocation requires a majority approval from owners. For now, expansion is not on the table.
In a contrast of post-presentation news conferences, the Seattle group was subdued and the Sacramento group was fired up.
"The NBA does not want to move a team from one market to another, period. We already know that," express Sacramento Mayor and source NBA player Kevin Johnson, who represented the Sacramento group along with Sen. Darrell Steinberg and financial backers Vivek Ranadive, Mark Mastrov and Ron Burkle.
"They normally move a team from one market to another when the fans don't shop it or you can't build a building. That's not the case in Sacramento."
Hansen, who represented the Seattle group along with Microsoft CEO Steve Ballmer, Erik and Peter Nordstrom and former NBA players and executive Wally Walker, seemed relieved he made his case. His group already has reached a deal to buy 65% of the team from the Maloof family for a league-record valuation of $525 million
"My confidence is real just from the fact that we've really been working hard on this for two 2½ days and you really have to appreciate that," Hansen said.
No specific detail was minded(p) regarding the updated offer to buy the team from Sacramento. But Stern -- who said on March 8 that the Sacramento offer roughshod way short of what would be needed to be naughtily considered by the NBA -- indicated afterward that the offer was sufficient.
When asked if the offer needed to be increased, Stern told reporters, "That is not one of the issues."
The Hansen-Ballmer group has already stipulation the Maloofs a $30 million, nonrefundable baffle, but the question remains how the NBA lead see that aspect of the deal and whether it may be dogged that it is, in essence, the price of doing business in this potential movement for the Seattle group. When asked about the deposit, Deputy Commissioner Adam Silver said the deposit came with contingencies.
"We're not going to speak to the specifics," Silver said. "And I mark you, it's two entirely different situations. Again, when the Seattle group put down the down payment, that was a contingent deal based on, of course, the capacity to purchase and relocate the team. We're dealing with a different particular in call of potential Sacramento buyers."
When asked directly by reporters after the news conference if the Sacramento group plan on matching Seattle's offer, Ranadive offered no specifics but said only, "We're contend to win."
Stern spelled out the other issues – more financial information is needed, how viable is each side's arena deal, including how quickly those arenas can be create and potential obstacles, including lawsuits and political filibustering which could stall progress and long-term profitability.
"We've ne'er had a situation like this," Stern said. "And the seriousness of resolve to me is really incredible, because they know that t here's a lot at office here for two communities and the NBA."
Seattle made its 90-minute presentation first in front of Stern, Silver, San Antonio Spurs owner Peter Holt, Minnesota Timberwolves owner Glen Taylor, okeh City Thunder owner Clay Bennett, New York Knicks owner Jim Dolan, Washington Wizards owner Ted Leonsis, Indiana Pacers owner Herb Simon, capital of Massachu groomts Celtics co-owner Wyc Grousbeck and Toronto Raptors chairman Larry Tanenbaum.
Also on the committee but not present were Utah Jazz CEO Greg Miller, Los Angeles Lakers' Jeanie Buss, Phoenix Suns owner Robert Sarver and Miami waken owner Micky Arison.
During Seattle's presentation, Hansen outlined the financial terms, Microsoft CEO Steve Ballmer expressed Seattle's ecstasy for bringing an NBA team back to the city and Sacramento Kings owner George Maloof Jr. "expressed strong support for moving frontward with the deal that they've made with Chris Hansen," Seattle Mayor Mike McGinn said.
Hansen, a Seattle native, met with reporters for about five minutes, but declined to divulge many details of his group's presentation.
"We were very well prepared. We're optimistic. The ownership group is very enthusiastic and the NBA's got a tough decision to make," Hansen said. "We're hopeful in an outcome in our favor."
Johnson outlined his three-prong approach: the Sacramento market, both in terms of money and fan support; the deal to build a new downtown arena headed by Burkle; the ownership group fronted by Ranadive and Mastrov.
"We made the case that in that respect's only one ordinary and right way for this to conclude, and that is with victory for Sacramento and for California," Steinberg said, "and I thumb very good about the case we made here this afternoon. I was glad to be part of it."
Despite each side's optimism, Stern repeatedly called it a complex situation, and the NBA will seek clarity. Who knows when a decision will be made?
It may not be at the conclusion of the Board of Governors meeting on April 19, but time is a factor. Stern said if there wasn't a decision by April 19, it shouldn't be much all-night after that. He didn't offer a firm timetable.
"We have to plan for a season, so there's a combination of timeline set out in the constitution for making a determination," Silver said. "Then there are also the factors as you point out, not just setting a schedule (but) merchandising a tickets for next season, sponsorships. The owners are mindful of all of those factors."
Materials taken from USA Today
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