David Stern says Sacramento group needs to up offer for Kings
Of late there has been growing momentum for Sacramento in its fight to keep the Kings. Mayor Kevin Johnson has helped bring together a bid led by 24 Hour Fitness founder Mark Mastrov (who was second in the bidding for the Warriors a couple years ago) and supermarket magnate Ron Burkle. The plan calls for the construction of a new arena in downtown Sacramento.
But it’s still a negotiation. And NBA commissioner David Stern is good at the negotiations part.
Friday night Stern spoke and there was good news for Sacramento fans: Stern said that a comparable offer from Sacramento might well sway the owners to vote to keep the team in Sacramento.
The bad news is Stern said the offer currently on the table from Sacramento is not good enough.
“I think it’s fair to say without telling any secrets that the offers are not comparable,” Stern said Friday night. (Thanks to our man Aaron Bruski, who has written on this story a lot at PBT and sent me the audio file of Stern’s remarks.)
Stern was in Oakland to watch the Warriors get in a track meet with the Rockets. He spoke to the media before the game and a contingent of Sacramento media made the drive to the coast to pepper him with questions. Stern used the opportunity to put a little pressure on Sacramento.
Stern went on to say that if the Sacramento offer doesn’t improve it will not go before the owners.
“I have an expectation, a hope, that the variance will be eliminated by the time the owners give it consideration...” Stern said.
“(The Sacramento offer has) strong people behind it but not quite there compared to Seattle bid.”
It’s a negotiation folks and David Stern is going to get the most money he can for his franchise, wherever it comes from. Don’t take these comments as a sign that Seattle is far ahead of Sacramento, take this as a sign David Stern wants to jack up the sale price.
It will probably work. Look what Mastrov told the AP.
Mark Mastrov responded to Stern's comments from his courtside seat. Says "it's all part of the process." Expects strong bid by BOG meeting.— Antonio Gonzalez (@ByAntonioG) March 9, 2013
The offer from Sacramento was never going to be as high as from Seattle because it would not have to repay the $77 million loan (with penalties) from the city the Maloofs were given. But the number the league was given did not win over Stern. Yet.
The Maloof family that owns the team has a deal in place to sell the franchise to a well-funded Seattle group led by hedge fund guy Chris Hansen and Microsoft CEO Steve Ballmer.
In the end it is not David Stern or the Maloofs that make the final call — the NBA Board of Governors (made up of the other 29 owners) will vote on this. Stern all but outright said if the BOG votes for the Sacramento offer that he expects the Maloof family will fall in line and sell.
That vote will come April 18-19 in New York City. Up until then it is an ongoing negotiation.