The Sacramento Kings will stay at Sacramento. Ownership representatives from the NBA’s 30 teams met this week for a few hours and decided to reject the Kings’ proposed move to Seattle. The vote was confirmed by NBA commissioner David Stern in Sacramento’s favor 22-8.
YouWager bettors can look back and for almost three years now the King’s future has bee uncertain as Seattle is still waiting to return to the world of professional basketball.
According to Stern the Maloof family that owns the Sacramento basketball team has “the right to retain ownership” of the team under NBA bylaws.
Even so, Stern believes that a sale to the consortium assembled by Sacramento mayor Kevin Johnson and headed by Silicon Valley billionaire Vivek Ranadive will happen in the future.
In addition, Stern considers that this vote, while technically addressing only the proposed relocation of the Kings to Seattle, has “effectively” canceled the Maloofs’ sale agreement with the Seattle group headlined by lead investor Chris Hansen.
It’s likely that NBA officials would begin talks with the Maloofs over the next “24 to 48 hours” in hopes of facilitating a sale to the Ranadive-led bidders.
George Maloof responded back about the idea that his family does not want to sell to Ranadive’s group. He added that he’d have to speak with other family members — as well as Hansen — before deciding what will happen next with the team.