Hansen Ups His Offer By 75 Million to Buy Kings
SEATTLE (AP) — Chris Hansen has increased his total valuation of the Sacramento Kings from $550 million to $625 million in another attempt to sway NBA owners to allow him to buy the franchise and move it to Seattle. Hansen also announced on his website Friday that he has guaranteed owners that the franchise would pay into the league's revenue-sharing system in Seattle and not collect money as it has in Sacramento. Hansen has had a deal since January to buy a 65 percent controlling interest in the Kings from the Maloof family. He originally offered a total valuation of $525 million, then increased that offer to $550 million after a competing Sacramento group matched his deal.
The NBA's relocation committee voted 7-0 last week to recommend that the NBA Board of Governors — which consists of all 30 owners — reject the Seattle move. The board is expected to vote on the issue at its meeting in Dallas on Wednesday.