Billionaire Chris Hansen must pay $50,000 for his role in a secretive effort to funnel money to a group trying to thwart Sacramento's efforts to build a new downtown arena, the California Fair Political Practices Commission said Monday.
The FPPC found that, just days after the NBA rejected Hansen's $625 million bid to buy the Sacramento Kings and move them to Seattle, he gave $100,000 to a group leading an effort to thwart Sacramento's efforts to keep the team.
A group of investors led by technology executive Vivek Ranadive bought the team for $535 million, one day after the NBA rejected Hansen's bid.
The NBA has said that Sacramento must build a modern arena to keep the Kings in town. The team's new owners have set a 2016 target.
The state political watchdog found that Hansen gave $100,000 to a group gathering signatures to thwart Sacramento's plan to keep the team by forcing a citywide vote on the city's planned $258 million subsidy for a downtown a...