RealGM Basketball Wiretap

Petrie Preparing For Kings' Draft, Hasn't Heard From Ranadive's Group

Mon, 20 May 2013 11:01:05 EDT

The Sacramento Kings have been sold to Vivek Ranadive, which makes the status of Geoff Petrie as basketball president an unknown.

Petrie is preparing for the 2013 NBA Draft as though he will still be the Kings' decision-maker. Petrie is signed through the end of June.

"I haven't had the opportunity to talk to anybody yet (from Ranadive's group)," said Petrie. "But my understanding is the sale probably won't officially close for a couple more weeks. How that plays into communication, I really don't know at this point."

The Kings need a point guard and also must plan a strategy for Tyreke Evans' restricted free agency.

"You're closing in on some planning, just structural, ownership-driven involvement that will have to happen in a much more compressed time frame here," Petrie said.

Kings Not Expected To Keep Petrie, Could Consider Mullin

Fri, 17 May 2013 12:25:34 EDT

With Vivek Ranadive agreeing to purchase the Sacramento Kings, Geoff Petrie is not expected to be retained as chief decision-maker on basketball personnel moves.

One candidate for the position could be Chris Mullin, who was in the Golden State Warriors' front office from 2004 until 2009.

Ranadive and Mullin have met several times, but have not discussed the possibility of working together.

"I definitely would (be interested in the job)," Mullin said. "But you know, it's something that's got to be the right fit. It's gotta be – they need my expertise…I'm not one of those people to go solicit it. But a guy like him, if he called me and he needed me, I'd love that."

Mike Malone Expected To Be Candidate For Kings

Fri, 17 May 2013 12:22:20 EDT

Mike Malone is expected to be a leading candidate for the Sacramento Kings' head coaching position.

Keith Smart is not expected to be retained, according to a report.

Malone is familiar with prospective Kings' owner Vivek Ranadive due to their connection with the Golden State Warriors.

Hansen-Ballmer Decline Refund Of $30M Non-Refundable Deposit From NBA's Other Owners

Fri, 17 May 2013 10:57:23 EDT

The NBA owners offered to refund a $30 million non-refundable deposit made by the Chris Hansen-Steve Ballmer ownership group that was made when entering into a purchase agreement with the Sacramento Kings.

The Seattle-based group had agreed to buy the team from the Maloof family.

Hansen and Ballmer declined to accept the offer, which would have come from each of the NBA's 30 owners.

Maloofs Agree To Sell Kings To Ranadive Group For $535M

Fri, 17 May 2013 00:36:27 EDT

The Maloofs have agreed to sell the Sacramento Kings to a group led by Vivek Ranadive for $535 million, according to a source.

The Maloofs had hoped to sell the Kings to a group led by Chris Hansen and Steve Ballmer, but the NBA's Board of Governors voted against the sale by a 22-8 margin. The Hansen-Ballmer group intended to move the Kings to Seattle, which lost their NBA franchise to Oklahoma City in 2008.

Ranadive is currently a part owner of the Golden State Warriors.

The new ownership group is hoping to build a new arena in downtown Sacramento with public financing.

Board Of Governors Rejects Kings' Move To Seattle

Wed, 15 May 2013 17:57:42 EDT

The NBA Board of Governors has voted down a bit to relocate the Sacramento Kings to Seattle, according to a report from USA Today's Sami Amick.

The Maloofs had agreed to sell the Kings to a group led by Chris Hansen and Steve Ballmer who had planned on moving the franchise to Seattle as a replacement for the departed Sonics.

Mitch Levy of KJR reports that 22 teams voted for the Kings to remain in Sacramento while eight approved the sale.

The Sonics moved to Oklahoma City and became the Thunder in 2008.

A group attempting to buy the Kings to keep them in Sacramento is being led by Vivek Ranadive, current part owner of the Golden State Warriors.

If the Kings are able to build a new arena in downtown Sacramento, plans call for the city to heavily finance the build.

With nearly all NBA teams in fairly stable situations in their current locations, Seattle's best chance at getting a team now appears to be through expansion.

"We will talk to the Maloofs within the next 24 to 48 hours to see if we can facilitate an agreement between Maloofs and Ranadive group," said David Stern.

Stern described the presentation made by the Seattle group as "excellent" and an "extraordinary ownership group."

Stern said there was a generalized talk to consider expansion, but will wait until the completion of the next television negotiation.

Stern promised "fair dealing" in regards to Seattle in the future. Stern also praised the efforts from Hansen and Ballmer and said that their relationship with the league is very good.

PAC Forms To Block Sacramento From Publicly Financing New Arena

Tue, 14 May 2013 17:22:03 EDT

A group from Sacramento has formed a Political Action Committee and hopes to launch a ballot initiative to prevent the city from publicly funding a new arena for the Kings.

"Taxpayers for Safer Neighborhoods PAC has joined with Sacramento Taxpayers Opposed to Pork (STOP) to announce the first phase of a campaign to end the financially irresponsible diversion of over $250 million in public funds to build a new downtown basketball arena," wrote the group in a release.

“Working with Taxpayers for Safer Neighborhoods, we have put together the funds to begin gathering signatures for an initiative which will prevent the public gift of over $250 million in taxpayer dollars to developers and professional sports team owners,” said Julian Camacho, Chairman of Sacramento Taxpayers Opposed to Pork (STOP).

Sacramento is facing an $8.9 million deficit.

The NBA is attempting to broker a deal between Vivek Ranadive and the Maloofs to keep the Kings in Sacramento and prevent a relocation to Seattle by a group of owners led by Chris Hansen and Steve Ballmer.

A recent report concluded that publicly funded sports venues add little to the economy.

Relocation Committee Doesn't Change Position On Kings Following Monday Meeting

Mon, 13 May 2013 20:33:46 EDT

The NBA's relocation committee met on Monday in regards to the future of the Sacramento Kings and did not change their position to keep the team from moving to Seattle, according to a source.

A final vote with all 30 owners is scheduled for Wednesday.

Vivek Ranadive is leading an ownership group trying to buy the Kings to keep them in Sacramento and to build a new arena.

The Maloof family has told the league they don't plan to sell to Ranadive if the move is blocked.

The Ranadive group has worked with Sacramento on a new downtown arena that would include $250 million in public money.

The Maloofs prefer to sell to a group led by Chris Hansen and Steve Ballmer that intends to relocate the Kings to Seattle.

Maloofs Haven't Ruled Out Sacramento Offer

Mon, 13 May 2013 10:50:31 EDT

The Maloofs continue to consider the possibility of selling the Sacramento Kings to a group that intends to keep the team from relocating to Seattle, according to a source.

Reports over the weekend indicated that the Kings have an alternative plan in place to sell a smaller stake to the Seattle-based group led by Chris Hansen.

But the Maloofs "still has that option," said a source of the Sacramento offer.

The Sacramento group is offering $341 million.

The Maloofs "intend to be loyal to Hansen to the bitter end," the source said. The Maloofs also do not feel that the Sacramento bid is complete or competitive.

Source: Phil Jackson Waiting For Resolution On Kings

Sat, 11 May 2013 21:29:55 EDT

Phil Jackson wants to see if the Sacramento Kings are sold to the Seattle consortium before deciding where to work next season.

Jackson has expressed an interest in a front office role similar to Pat Riley’s situation with the Miami Heat.

Jackson has "hit it off" with Chris Hansen, who leads the Seattle group attempting to buy the Kings.

Maloofs Have 'Backup' Agreement With Hansen-Ballmer Group

Sat, 11 May 2013 21:17:39 EDT

The Maloofs have informed their fellow NBA owners that they will not sell to a group of owners that intend on keeping the Kings in Sacramento if the Board of Governors rejects their proposed sale to Chris Hansen and Steve Ballmer's group from Seattle

The Maloofs have made a "backup" agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise.

Sources said that new proposal also included a $115 million offer to owners as a relocation fee, amounting to approximately $4 million per team.

The NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday's full owners meeting in Dallas, sources said.

In the last three months, the NBA has negotiated its own backup plan for the Kings with a group led by Silicon Valley billionaire Vivek Ranadive. 

Several ownership sources told ESPN.com that there was some concern that Ranadive and the city of Sacramento could close and execute the deal for the new arena.

Seattle Group Raises Bid For Kings By $75M

Fri, 10 May 2013 15:14:59 EDT

Chris Hansen has increased the bid of his Seattle-based investor group for the Sacramento Kings by $75 million to a valuation of $625 million.

Hansen had already raised the valuation of his bid to $550 million in an attempt to sway NBA owners. 

The NBA's relocation committee voted a recommendation that the Kings remain in Sacramento.

Prospective Kings' Owner Interested In Monta Ellis

Thu, 09 May 2013 12:55:37 EDT

Monta Ellis has yet to decide if he will opt out of his $11 million deal for the 13-14 NBA season, but he could have one potential suitor in the Sacramento Kings.

A member of the Kings' prospective ownership group has worked on a background check on Ellis as a potential player to sign if Tyreke Evans departs in the offseason.

Evans will be a restricted free agent in the offseason.

Kevin Johnson On Hansen, Ballmer: 'Take The High Road'

Tue, 07 May 2013 19:18:53 EDT

Kevin Johnson offered advice to Chris Hansen and Steve Ballmer, the prospective owners of the Sacramento Kings that were planning on relocating the team to Seattle.

"I would take the high road and I'd be gracious," said Johnson.

The NBA's relocation committee voted last week by a margin of 7-0 to vote against Hansen and Ballmer's plan to move the team to Seattle.

"Once the relocation committee spoke as loud and as clear as it did, I would probably take a step back and understand that I'm probably not going to get this team, so how can I put Seattle in the best possible position to get a team moving forward?" said Johnson.

Report: New Kings' Owners Will Accept No Revenue Share Money In New Arena

Mon, 06 May 2013 13:25:56 EDT

Vivek Ranadive's ownership group has agreed to accept fewer revenue-sharing dollars while the Sacramento Kings continue to play at Sleep Train Arena and will accept no money once they move into a new downtown arena.

The concessions were made shortly before the NBA's relocation committee voted last Monday.

The NBA created a revenue-sharing model during its most recent collective bargaining agreement negotiations to help small market teams.

The NBA declined comment on the report, and a spokesman for the Ranadive group couldn't be reached comment.

Sacramento Ownership Group Makes Deposit For Kings Amid Lawsuit Against City

Fri, 03 May 2013 18:56:36 EDT

An ownership group attempting to purchase the Sacramento Kings to block a relocation to Seattle has deposited 50 percent of the purchase price in an escrow account, according to a source.

The deposit signals their latest attempt to reach agreement with the Maloofs on a purchase of the franchise.

Vivek Ranadive, who is a co-owner of the Golden State Warriors, is leading the group to keep the Kings in Sacramento.

In a letter to the NBA two weeks ago, the Maloofs said Ranadive's bid is only $341 million.

The Coalition for Responsible Arena Development is suing the city of Sacramento claiming officials are illegally withholding information about the $258 million subsidy for a new arena approved by the City Council.

Mayor Kevin Johnson and others are accused of adding secret 'sweeteners' to the subsidy that will push the actual amount beyond $258 million.

NBA Relocation Committee Unanimously Votes Against Kings' Move To Seattle

Mon, 29 Apr 2013 17:00:45 EDT

The NBA's relocation committee has unanimously voted against moving the Sacramento Kings to Seattle.

The Maloofs had entered into a sale agreement with a Seattle-based group led by Chris Hansen and Steve Ballmer.

A full vote is still forthcoming, but the rest of the NBA's owners will likely follow the recommendation.

Seattle lost its NBA franchise to Oklahoma City in 2008.

The Maloofs will now be pressured to sell the franchise to a group led by Vivek Ranadive that will keep the Kings in Sacramento.

Kings' Recommendation From Relocation Committee Expected On Monday

Thu, 25 Apr 2013 11:09:28 EDT

The NBA's relocation committee will have a conference call about the Sacramento Kings on Monday, April 29.

A recommendation is expected to be made on that day whether the team should be sold to a group from Seattle or remain in Sacramento.

The earliest day the Board of Governors can vote on the issue is May 8.

The Maloofs have entered into an agreement to sell the Kings to a group led by Chris Hansen and Steve Ballmer.

Source: Stern 'Anguishing' Over Kings' Decision

Wed, 24 Apr 2013 11:27:30 EDT

The final truly important decision of David Stern's tenure as NBA commissioner will almost assuredly be what the owners decide to do about the future of the Sacramento Kings.

The Maloofs have agreed to sell controlling interest in the franchise to a group that will relocate the Kings to Seattle.

The decision in 2008 to move to the Sonics to Oklahoma City has been one that has elicited a steady stream of criticism directed toward Stern. By most accounts, Stern wants an NBA team back in Seattle but taking away a beloved franchise from a city like Sacramento that doesn't have another professional sports franchise would create a new issue.

One league executive Tuesday described Stern as "anguishing" over the two offers for the team.

Maloofs Ask NBA To Approve Sale To Seattle Group

Fri, 19 Apr 2013 14:00:40 EDT

The Maloof family has asked its fellow NBA owners to approve the sale of the Sacramento Kings to a group from Seattle.

In a letter sent to the NBA's relocation committee, the Maloofs indicates there is  "significant distance between us and the Sacramento group."

The Maloofs said the Sacramento group has asked not to enter into a binding agreement until the Seattle deal is terminated. 

The Maloofs reached an agreement in January to sell a 65 percent controlling interest in the Kings to Hansen's group at a total franchise valuation of $525 million, an NBA record. 

Chris Hanson later voluntarily increased the valuation to $550 million.

Cousins Plays After Technical Is Rescinded

Tue, 16 Apr 2013 09:20:01 EDT

Sacramento Kings center DeMarcus Cousins played on Monday night after the NBA rescinded one of his technical fouls.

Cousins had picked up his 16th technical foul of the season Sunday night at Houston, which would have forced him to serve an automatic one-game suspension.

Kings coach Keith Smart said he got a call from NBA executive vice president of basketball operations Stu Jackson to inform him that Cousins would be eligible to play.

Ron Burkle Drops Out Of Sacramento Group To Keep Kings

Mon, 08 Apr 2013 21:49:09 EDT

Ron Burkle will no longer be part of the group trying to purchase the Kings and keep the organization in Sacramento, instead focusing solely on the development project surrounding a new arena.

Burkle is not able to have a stake in the potential purchase of the Kings because he is also an investor in an agency firm that represents NBA players.

The possibly conflict was raised during last week's committee meeting in New York and the Maloofs were not interested in selling the team to Burkle in any form.

Burkle had a small stake in the Sacramento group's bid, according to a source, but it will now need to be replaced.

City Council Approves Sacramento Arena

Wed, 27 Mar 2013 01:25:41 EDT

The Sacramento City Council voted to approve the deal for a $448 million arena to be located at Downtown Plaza.

The 7-2 vote approves a non-binding 'term sheet' calling for a $258 million public subsidy.

The vote sets up a pivotal April 3 meeting in New York, when a committee of NBA owners will hear presentations from delegations from Sacramento and Seattle. All the league's owners will meet April 18 and 19 to vote on the matter.

"This is a good day for Sacramento," said Mayor Kevin Johnson. "We are on track to do something very historic."

Kings fans in attendance, in their white "Crown Downtown" T-shirts, cheered wildly and stood, chanting, "Sacramento!"

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Mon, 20 May 2013 21:17:03 EDT

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