Saturday, April 13, 2013

Seattle Raises Kings Purchase Price By $25M, Last Lawsuit Dismissed

And the poker continues...

With the Hansen/Ballmer group, seemingly, not flinching over the idea of wanting to bring pro hoops back to Seattle...

Hansen has announced the decision to raise their wanting price to $550-million. In a statement on his website, Sonicsarena.com, Hansen says the group raised the purchase price as a "sign of our commitment to bring basketball back to our city."

Paragraph Two sayeth quote:

While we already have a binding purchase agreement to purchase the controlling interest in the team, the Seattle Ownership Group has elected to voluntarily raise its purchase price as a sign of our commitment to bring basketball back to our City and our high degree of confidence in our Arena plan, our financing plan, the economic strength of the Seattle market, individual and corporate support for the team and, most importantly, the future of the NBA.

Translation: We think we can outspend the city of Sacramento to bring basketball back to Seattle...

Hansen's group has an agreement with the Maloof family dating back to January. The city of Sacramento, and Mayor Kevin Johnson, have come to the table more than once trying to put together a group that would keep the Kings at their current home- trying to match the Seattle group and Maloof's asking price.

The NBA Board of Governors meets next week to vote on a sale and possible relocation.

The Maloofs had given the city of Sacramento by the end of business Friday to come up with a binding piece of paper to say they're serious in keeping the team in town. Until then, the city had given the Maloofs their word on their desires...

The HQ thinks the refiling by Hansen had nothing to do with the deadline...
Hashtag sarcasm...

Meanwhile, a Seattle judge has dismissed the last stumbling block to getting the new intown arena built...
Here's Chris Daniels...
((HT: KING-TV))

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