NBA Rejects Bid To Move Sacramento Kings To Seattle
Bad news for Sonics fans. The NBA board of governors Wednesday voted 22 to 8 to reject relocation of the Sacramento Kings to Seattle.
NBA Commissioner David Stern says it was a tough decision, but that Sacramento Mayor Kevin Johnson put together an arena proposal and group of investors that satisfied the NBA owners.
"Mayor Johnson has managed to construct exactly what the committee asked him to construct if he was going to get involved here," Stern says. "This was not an anti-Seattle vote, this was a pro-Sacramento vote. And that’s just the way the committee, and ultimately the board, decided it would be done."
The NBA owners rejected Chris Hansen and Steve Ballmer’s proposal to move the team, even though their offer valued the team at $625 million and the Sacramento investors’ group offered $525 million.
Stern says the Maloof brothers, who own the Kings, still have the right to retain ownership. But he says he’s hopeful they’ll come to an agreement soon with the California investors, led by software executive Vivek Ranadive.
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