6:15pm: The earliest a decision will be made would be the first week in May, Stern told reporters, including Bob Condotta of The Seattle Times. The joint committees reviewing the bids will likely convene again next week after the Board of Governors meeting this weekend. Next week's meeting is likely when the committee recommendation will be made (All Twitter links).
6:00pm: Despite commissioner David Stern's insistence that the league will not expand, that issue isn't off the table, says NBA Board of Governors chairman Peter Holt. The Spurs owner adds that there's been no down payment made by the Sacramento group, presumably referring to the $30MM non-refundable payment Seattle's group made to the Maloofs. Chris Daniels of KING-TV in Seattle tweets the news.
4:15pm: A source close to the situation tells Tony Bizjak of the Sacramento Bee that Sacramento's bid for the Kings is a "non-binding term sheet." The source tells the Bee that the bid would require the Maloofs to terminate its agreement with the Seattle group before the NBA's Board of Governors vote on it, at which point the Sacramento group would negotiate a final, binding offer for the franchise.
Predictably, the Maloof family doesn't sound entirely on board with that idea. The Bee reports that the Maloofs, in a letter to the NBA, expressed a desire to move forward with the Seattle agreement.
3:07pm: This week's NBA's ownership meetings have begun, which means discussions that will determine the fate of the Kings are underway. In advance of the meetings, the Vivek Ranadive-led group seeking to buy the team and keep it in Sacramento submitted its official bid to purchase the team, according to Ryan Lillis of the Sacramento Bee.
The Sacramento bid, along with the offer made by Chris Hansen's Seattle group, will be reviewed today by a handful of NBA owners that are members of the league's relocation and finance committees. The 12-owner committee will eventually forward a recommendation to the league's full Board of Governors, which includes all 30 team owners. As Ken Berger of CBSSports.com explains, the Board of Governors will meet tomorrow and Friday, although no formal vote is expected this week (Twitter links).
Here are a few more of today's notes and links related to Seattle, Sacramento, and the Kings:
- Lillis notes in his report that the amount of Sacramento's bid was not revealed. Based on yesterday's reports, it sounds as if it may not match Seattle's increased offer dollar for dollar.
- According to Ric Bucher of 95.7 The Game (Sulia link), one reason the vote is being delayed is because the committee will need more team to evaluate which group will have the ability to build a new arena more quickly. Other factors are being vetted as well, but the arena issue could be a big one, says Bucher.
- Hansen has completed deals to purchase all the land required for Seattle's proposed arena, according to Chris Daniels of KING-TV.
- Ken Benson of the New York Times explains how Ranadive's influence in India could be a boon for the NBA if Sacramento keeps the Kings.