According to a source, the group isn't taking no for an answer, as the NBA relocation committee voted to deny the relocation. The Seattle based investor group not only will increase their bid for the franchise [twice] but said that if the NBA voted to reject the sale, they had a backup agreement with the Maloof family, current owners of the Kings, to buy 20% stake ownership in the team. The purchase would make the investment group minority investors.
If that happens, they [the Maloof family] wouldn't need the NBA approval to swap shares of the franchise [give shares of the franchise to the Hansen-Ballmer group] unlike the current scenario where the NBA would have to agree to allow them to purchase any stake in the Kings.
The NBA is aware of the backdoor move, and one NBA owner reportedly told CBS Sports that the deal doesn't make "no sense".
Asked an owner today if Hansen backup plan with Maloofs is a game-changer. ”It doesn't make any sense to me,” he said.If the NBA wanted to allow the Seattle based Hansen-Ballmer group purchase the Kings, they'd most certainly do so by allowing them to buy the originally agreed upon 65% as the last thing the NBA wants.
— Ken Berger (@KBergCBS) May 14, 2013
The NBA will meet in Dallas on Wednesday and make their decision about the relocation of the Kings, which will most likely be rejected.... ONCE AGAIN.