Found May 11, 2013 on Rumors and Rants:
News broke on Saturday that the Maloof brothers (Joe and Gavin) will only agree to sell the Sacramento Kings to the Seattle-based group headed by Microsoft CEO Steve Ballmer and Chris Hansen. If the NBA doesn’t approve a move to Seattle, the Maloofs apparently have a backup plan. The crash-strapped brothers have made a backup agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million, if the NBA doesn’t approve a full sale. That would allow the Maloofs to continue running the team. Also on Friday, Hansen announced that he had increased his offer to buy out the Maloofs to $409 million (up from $358 million). That would put the total valuation of the franchise at $625 million, since the Maloofs own 65 percent of the team. The new proposal would also include $115 million offer to the NBA’s owners as a relocation fee. That would work out to about $4 million per team. For comparison, when the Oklahoma City Thunder moved from Seattle in 2008, the franchise...
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