{"id":825092,"date":"2013-01-14T12:03:40","date_gmt":"2013-01-14T20:03:40","guid":{"rendered":"http:\/\/www.cowbellkingdom.com\/?p=18262"},"modified":"2013-01-14T12:03:40","modified_gmt":"2013-01-14T20:03:40","slug":"report-conference-call-briefs-nba-relocation-committee-on-kings-to-seattle-deal","status":"publish","type":"post","link":"https:\/\/thesportsdaily.com\/news\/report-conference-call-briefs-nba-relocation-committee-on-kings-to-seattle-deal\/","title":{"rendered":"Report: Conference call briefs NBA relocation committee on Kings to Seattle deal"},"content":{"rendered":"
The terms of a deal between the Maloof family and the Chris Hansen\/Steve Ballmer group have been outlined to the NBA relocation committee according to Yahoo! Sports. \u00a0Adrian Wojnarowski reports that the relocation board, led by Oklahoma City Thunder owner Clay Bennett, was briefed on “a non-binding set of deal points”\u00a0in a conference call last week<\/a>.<\/p>\n The call took place on Tuesday \u2013 one day before Yahoo! Sports reported the finalizing of a deal \u2013 and informed several league owners that the Hansen-Ballmer Seattle group would purchase 65 percent of the Kings, sources said. The league office told members of the relocation committee that the non-binding agreement would constitute 53 percent of the franchise owned by the Maloof family and an additional 12 percent from minority owner Bob Hernreich.<\/p>\n The sale price of $525 million is considered an overall valuation of the franchise.<\/p>\n The committee is compromised of several NBA owners, including committee chair Clay Bennett of Oklahoma City.<\/p><\/blockquote>\n The Maloofs are reportedly trying to negotiate a way to keep a minority interest in the franchise following the sale. \u00a0Last week, the Seattle Times reported that the family wanted to maintain a say in the team’s direction as part of the deal.<\/p>\n They’ve also arranged for a cash call, according to David Aldridge of NBA.com<\/a>, to raise capital as a means of paying off some of their debts. \u00a0A cash call is\u00a0a request from majority stakeholders to their shareholders to provide them with more money.<\/p>\n