Stern expects Sacramento plan within 2 weeks
HOUSTON (AP) — NBA Commissioner David Stern expects a concrete financing plan from Sacramento Mayor Kevin Johnson within the next two weeks, with the aim of settling the Kings' future by mid-April.
Stern said that Johnson will attend an April 17-18 owners meeting in New York to deliver his proposal, but the league expects to have heard it by then.
"We have an April 17th meeting of the board, but if the mayor follows through on what he's told us, we'll have it comfortably by March 1," Stern said Thursday.
Johnson is trying to line up investors to buy the Kings and keep them in his city with a new arena, rather than watch them move to Seattle.
Speaking at an All-Star weekend event, Stern also said he doesn't currently see "a push for expansion" among owners, knocking down the idea that both cities could end up with teams.
"My statement about expansion is talk to Adam next year," Stern said, with commissioner-elect Adam Silver standing behind him. "I don't have any plans to champion expansion between now and Feb. 1, 2014. That's up to the ownership and the commissioner."
Stern will retire as commissioner on that date.
A Seattle group led by Chris Hansen and Steve Ballmer has reached an agreement with the Maloof family to buy 65 percent of the franchise, which is valued at $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million.
Johnson has since vowed to put together a "fair and competitive offer" to keep the team in California's capital city, with a plan to help finance a new downtown arena.
The mayor has introduced more than 20 local investors who have pledged at least $1 million each to be minority owners in the team, but he has yet to announce the major equity partners.
Stern said he has no meetings scheduled this weekend with Johnson, who plans to be in Houston, but said the former NBA All-Star may even meet with the board before April.
Until then, the Seattle group will have to wait.
"We have a process that we've been doing for the last some-odd years, probably 50, where we take applications, we do all the work and the work has begun," Stern said. "And so the April 18th board meeting is what we're aiming for for final resolution on this issue."
Stern spoke after joining former NBA star Bob Lanier, a special assistant to the commissioner, to announce a four-year contract extension between the league and the Retired Players Association, commemorating their 20-year partnership.
Stern said that Johnson will attend an April 17-18 owners meeting in New York to deliver his proposal, but the league expects to have heard it by then.
"We have an April 17th meeting of the board, but if the mayor follows through on what he's told us, we'll have it comfortably by March 1," Stern said Thursday.
Johnson is trying to line up investors to buy the Kings and keep them in his city with a new arena, rather than watch them move to Seattle.
Speaking at an All-Star weekend event, Stern also said he doesn't currently see "a push for expansion" among owners, knocking down the idea that both cities could end up with teams.
"My statement about expansion is talk to Adam next year," Stern said, with commissioner-elect Adam Silver standing behind him. "I don't have any plans to champion expansion between now and Feb. 1, 2014. That's up to the ownership and the commissioner."
Stern will retire as commissioner on that date.
A Seattle group led by Chris Hansen and Steve Ballmer has reached an agreement with the Maloof family to buy 65 percent of the franchise, which is valued at $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million.
Johnson has since vowed to put together a "fair and competitive offer" to keep the team in California's capital city, with a plan to help finance a new downtown arena.
The mayor has introduced more than 20 local investors who have pledged at least $1 million each to be minority owners in the team, but he has yet to announce the major equity partners.
Stern said he has no meetings scheduled this weekend with Johnson, who plans to be in Houston, but said the former NBA All-Star may even meet with the board before April.
Until then, the Seattle group will have to wait.
"We have a process that we've been doing for the last some-odd years, probably 50, where we take applications, we do all the work and the work has begun," Stern said. "And so the April 18th board meeting is what we're aiming for for final resolution on this issue."
Stern spoke after joining former NBA star Bob Lanier, a special assistant to the commissioner, to announce a four-year contract extension between the league and the Retired Players Association, commemorating their 20-year partnership.
This is why as long as David Stern is in charge i wouldn't walk across the street to see anything NBA
Why is the Sacramento city government interfering with a sale between two private parties? The team has been sold. Get over it. If this falls through, I hope Chris Hansen sues Sacramento for the unrefundable $30 million dollars.
Stern your a idiot. The Kings have been sold, but I guess the NBA, and its Evil empire have the right to refuse business. Your like a candy shop owner who doesn't like the look of some of the kids in your store. So you tell them wait, wait.....get out!!! Your retiring, take that cry baby named Bennett with you!!!!!
Thank goodness Stern is retiring. He's not as bad as Gary Bettman, but close enough!
Even if they can come up with enough money to buy and keep the Kings in Sac, they still have to come up with a new arena plan which failed once before.
@mstipton Not to mention getting the Maloofs to agree
why would you do business with this man and his Protege clay bennett. Im my honest opinion , as long as either one of those two clowns are involved with the NBA, i wouldnt give them the time of day. And cant you see seattle is being set up for failure on this sacramento deal too. What a business where you go around stealing other cities teams.
@sportbuff01 One is gone starting early next year.
@Hachee_Bungwhy @sportbuff01 only to be replaced by a hand picked drone by stern.
I hope Sacramento keeps them! Seattle needs to go after one of the future NEW franchises.
@Man Seveneleven Can you read? There will be no new teams...Â
"I don't have any plans to champion expansion between now and Feb. 1, 2014. That's up to the ownership and the commissioner." Which basically means it ain't gonna matter to him, he's not gonna see a profit from the team regardless of wherever they play since he'll be retiring by that time. Stern is nothing but a pathetic, greedy SOB! I'm glad he's retiring! I just hope his replacement isn't gonna be a bigger jackass!
Well I guess we will just have to let the system work for the Hansen group, lets hope that the Board of Govenors will approve the move but then we will have to see as the head of the relocation committee is none other than the man who moved the francise to Oklahoma to begin with. I say let the Green and Gold fly again,,, Bring back the Sonics.... or is the NBA afraid of seeing Seattle put more banners of Championship seasons in its rafters again.
What the heck is Stern's problem with Seattle? He try to pick up a prostitute here once and was turned down or something?
If so then the prostitutes in Seattle have more class than I gave them credit for.
If the sale of the Sacramento Kings has been consummated, what is the significants of Stern's announcement?
@George Nothing significant, this decision will be made by the owners, period!
Gah David Stern is a slimy SOB
Yeah, of course in 2 weeks...only because Kevin Johnson said he would have something in 2 weeks. Â That's probably why Stern said 2 weeks. Â It's no solid deadline to me.
That being said, KJ has been doing things at the last minute for years. Â This is no different. Â I do not like how SacTown is crying that we're stealing their team - especially when they got theirs from somewhere else.
I also used to feel sorry for the Kings fans, and for the larger part, I still do. Â I very much dislike the lies and untruths coming across their chatter, acting like it's true. Â I feel bad that they are choosing to be misinformed, but at the same time, this looks so familiar..."about 5 years ago" familiar.
Will probably say more later...
If it is such a done deal i.e. an agreement is in place, then why is there even TALK about entertaining a Sacramento offer AT ALL, or holding meetings with KJ - what's the point????
I really think this is a done deal. Â At best sacramento will only delay them from moving. Â The part of the reason is that the current ownership and the city of sacramento don't have the greatest relationship. Â The mayor lining up support now looks like he is Johnny come lately. Â Lastly he has a long way to go in getting over 500 million more to beat the Hanson deal including a new stadium.