Sacramento Kings owners George Maloof (third from left), Gavin Maloof (third from right), and Joe Maloof (second from right). (PHOTO: US PRESSWIRE)
SACRAMENTO, CA - Sacramento Kings majority owners the Maloof family continues to stand their ground to sell the team to a Seattle ownership group, led by to Chris Hansen and Steve Ballmer.
ESPN.com reported if the NBA Board of Governors denies their request to sell to the Hansen-Ballmer group, who will relocate the franchise to Seattle, the Maloofs have their own back-up plan that does not include the Sacramento-based group, led by Vivek Ranadive.
That "back-up" plan includes selling 20 percent of the team to Hansen-Ballmer, allowing the Maloof family to operate the team in Sacramento.
On Friday, the Hansen-Ballmer group announced they had raised their offer to buy the Maloofs 65 percent share of the Kings for an additional $75 million.
See full story: Chris Hansen raises Sacramento Kings offer.
On April 29, the relocation committee unanimously recommended to the rest of the NBA owners to allow the Kings to remain in Sacramento. Many saw this as a victory for Mayor Kevin Johnson and Ranadive's Sacramento group, which has put half of their bid to buy the Kings ($525 million valuation) into escrow.
The NBA Board of Governors is scheduled to meet in Dallas this week to discuss and vote on the fate of the Kings franchise. Those meetings will begin with a conference call on Monday.