ESPN.com is reporting that the owners of the Sacramento Kings, the Maloof family, have cut a new deal with the Chris Hansen-led group attempting to move them to Seattle. The deal would be a “backup” plan, giving Hansen 20 percent of the team for $125 million but allowing the Maloofs to continue to own the Kings.
The ESPN report states that the new deal “may create more drama in Sacramento and the league office.”
Two sources told ESPN.com the Maloofs have informed their fellow owners that if their deal to sell and relocate the Kings to Seattle is not approved by league owners next week, they will not sell the team to a Sacramento-based group that promises to kept the Kings in Sacramento.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell them 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise.
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ESPN is also reporting that the increased offer Hansen made for the Kings yesterday also includes a $115 million offer to the owners as a relocation fee. The owners of the Sonics paid just $30 million to move the team to Oklahoma City in 2008.
ESPN is also reporting that the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Wednesday’s full owners meeting in Dallas, sources said.