Skip to main content
Main content
NBA news

Seattle group raises purchase price for Kings

By Tim Booth, AP Sports Writer
Posted Apr 13, 2013 12:58 AM

SEATTLE (AP) -- The Seattle group attempting to buy the Sacramento Kings says it has reached agreement to raise the purchase price by $25 million.

Chris Hansen, teaming with Steve Ballmer to lead the group, Hansen announced the decision to raise the valuation late Friday night. In a statement on his website, Sonicsarena.com, Hansen says the group has voluntarily raised the purchase price as a "sign of our commitment to bring basketball back to our city."

Hansen's group entered into a binding agreement with the Maloof family in January to purchase the controlling interest of the franchise based on a $525 million value. The purchase agreement has been countered by Sacramento's attempts to put together a potential ownership group that would keep the Kings in California.

The NBA Board of Governors meets next week in New York and is expected to vote on the potential sale and relocation.

SEARCH NEWS
LATEST VIDEOS
photoNuggets vs. Clippers
Blake Griffin (24 points) and Chris Paul (21 points, 10 assists) lead the Clippers over the Nuggets in the 117-105 win.
photoInside the NBA: NBA Awards
Shaq and Smitty weigh-in with their favorites for coach of the year, rookie of the year and MVP.
photoCisco Connection Series: George Gervin
Cicsco and NBA legend George "Iceman" Gervin teamed up to show how the internet of everything is taking their love for the game to the next leve.
photoInside the NBA: Brent's NBA Awards
Brent Barry breaks down his top picks for Coach, Rookie and Player of the Year with a song and dance.
photoInside the NBA: Clippers Playoff Matchup
Ernie and the guys discuss the possible first-round playoff matchups for the Clippers.