Originally written on Rumors and Rants  |  Last updated 11/18/14

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 paid just $30 million as a relocation free. The NBA’s relocation committee is planning to re-evaluate it’s rejection of a move to Seattle before the NBA’s owners meet next Tuesday in Dallas. Meanwhile, the NBA has negotiated a deal with a group led by Silicon Valley billionaire Vivek Ranadive that plans to keep the team in Sacramento. That group’s valuation of the franchise came out to $525 million, and it also brokered a deal with the local government to build a new arena that would include more than $250 million in public funding. Originally the relocation committee ruled that the Ranadive group’s offer should be enough to keep the team in Sacramento. Now the league is apparently willing to re-examine its decision.

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Celtics looking to make LeBron's life difficult in playoff series

WATCH: Luke Rockhold chokes out Lyoto Machida

WATCH: Masai Ujiri fires up Raptors fans with expletive

Andre Johnson: Signing with Colts not about revenge

Pete Rose joining FOX as baseball analyst

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Josh Hamilton filed for divorce around time of relapse

Isaiah Thomas once peed himself to avoid subbing out

Report: ESPN employees want Britt McHenry fired

WATCH: Raptors fans shower Paul Pierce with vulgar taunts

Report: Vikings want first-rounder, starting CB for Peterson

Jarret Stoll arrested for possession of drugs

Report: Todd Gurley's knee checks out well in evaluation

WATCH: All 286 3-pointers Steph Curry made this season

WATCH: Devan Dubnyk makes great save while leaving net

Sabres GM not happy about losing draft lottery

Yordano Ventura ejected for plunking Brett Lawrie

Five early takeaways from the 2015 MLB season

WATCH: Cubs fan catches foul ball in beer cup, chugs it

WATCH: Cardale Jones throws ball 74 yards during contest

Shaka Smart was quite popular at the Texas spring game

Ohio State sets spring game attendance record

WATCH: Bubba Watson raps on Christian rap track

WATCH: Jags mascot wins closest to pin at Sawgrass

NBA News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Josh Hamilton filed for divorce from wife

Report: McHenry's coworkers want her fired

WATCH: Raptors fans taunt Paul Pierce

Five things to watch in NBA Playoffs

Jarret Stoll busted for drugs

CJ Wilson: Hamilton is 'ready to go'

Leaked Clippers jersey redesigns

Tequila Patron Sports Car Showcase preview

Home runs ruined our ability to appreciate production

Why we love the NFL draft

The "worst" player on each NBA playoff team

Jim Harbaugh showed up at Ultimate Frisbee practice

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.