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
photoUSAB Scrimmage Recap
Paul George was carried off on a stretcher after suffering a gruesome leg injury Friday night.
photoUSAB: Krzyzewski, Colangelo
Mike Krzyzewski and Jerry Colangelo talk to the media after Friday's USAB scrimmage.
photoGameTime: George Injury Discussion
Matt and Steve discuss Paul George's horrific injury in Friday's USAB scrimmage.
photoDerrick Rose Interview
Chicago Bulls guard Derrick Rose sits down with NBA TV's Grant Hill.
photoGameTime: Derrick Rose Discussion
Matt and Steve discuss Derrick Rose's return and his performance with USAB in Las Vegas.