Sacramento Group Submits Bid For Kings
As we outlined yesterday, Sacramento mayor Kevin Johnson unveiled his plan for keeping the Kings in Sacramento last night during his "State of the City" address. Sacramento's bid for the Kings, led by Mark Mastrov and Ron Burkle, is said to be slightly short of what the Seattle group offered, but it is "strong and competitive," and close enough to cause debate. The NBA's Board of Governors is expected to make its decision in mid-April, but I imagine we'll get plenty of updates on the process along the way. Here are today's items:
- Mastrov and Burkle officially submitted their bid for the Kings to the NBA today, according to Dale Kasler of the Sacramento Bee. A source reiterated that it's "very close and competitive" to the Seattle offer, though it's hard to directly compare the two, since the Sacramento bid wouldn't have to cover costs like the city's $75MM loan to the team.
- While Johnson indicated that Mastrov will lead the charge on the bid for the Kings and Burkle will head the proposal for a new Sacramento arena, both men will contribute financially to both aspects of the project, according to Kasler, Tony Bizjak, and Ryan Lillis of the Sacramento Bee.
- The process for how the Board of Governors will make its decision isn't entirely clear, according to a source that spoke to the Bee: "It's not like there's a manual for how to do this. This is somewhat unprecedented in the history of the league." Tom Ziller of SBNation and Sactown Royalty agrees, noting that this is nothing like what happened between Seattle and Oklahoma City leading up to the SuperSonics' move.
- Burkle is interested in building an arena in Sacramento's Downtown Plaza, which initial studies show would cost in the $400MM range — that's less than last year's estimate of the cost of an arena in the downtown railroad.
- City officials have yet to start formally negotiating with Burkle and Mastrov about an arena plan, but city manager John Shirey hopes to finalize a financing term sheet and present it to Sacramento's city council for approval in time for its April 2nd meeting, according to the Bee.
Latest On Kings, Sacramento, Seattle
Mayor Kevin Johnson conducted his "State of the City" address in Sacramento tonight to discuss the city's goal in preventing the Kings from moving to Seattle. As we relayed earlier, Mitch Richmond is set to join local investors in an attempt to buy the team along with Mark Mastrov, and Ron Burkle was revealed as a prominent figure in helping fund a new arena in Downtown Plaza. There were a plenty of updates during the speech, and you can find the more noteworthy links below:
- Yahoo Sports' Adrian Wojnarowski says that Mastrov's bid is "slightly lower" than the offer from the Chris Hansen-led Seattle group, which has agreed to pay $341MM for 65% ownership of the Kings. One source told Wojnarowski that while Sacramento's efforts are a long shot, the bid is close enough to cause debate. Mayor Johnson, along with the investors he has put together, will still have to make a case to the NBA Board of Governors in April and convince NBA owners to vote against the ratification of the agreement between the Maloofs and Seattle.
- While Burkle is leading the charge for a new arena, he would also receive a stake in the team if the city's bid is successful, tweets Ken Berger of CBSSports.com. He also writes that Johnson appeared confident about making his case to the NBA: "As a city we have done everything that the NBA has ever asked of us. Everything. Each time the NBA put a challenge in front of us, we not only stepped up, but we over-delivered. There is literally nothing more that we could have done, and I am convinced that in return for our efforts, the NBA is going to make the right decision. … A small market that is [as] committed to this league as we are will be rewarded by keeping its team."
- Near the beginning of his address, Mayor Johnson adamantly stated: "I do hope (Seattle gets) a team one day…it is not going to be this team, not our team. No way." (Jeff Zillgitt of USA Today).
- It was confirmed that there are 20 local community investors who have committed $1MM each toward buying the team (Twitter link via Ken Berger).
- Berger also relayed that the proposed new ownership group plans to bring back the city's WNBA franchise – the Sacramento Monarchs – to share the downtown arena with the Kings.
- NBA.com's Scott Howard-Cooper says that Mastrov is expected to submit a bid to the league office tomorrow. According to Mayor Johnson, tweets Berger, the bid will be "strong and competitive" and David Stern has made assurances that it will receive "full consideration."
Sacramento Mayor Reveals Kings Investors
8:46pm: According to Mayor Johnson, former Kings star Mitch Richmond is one of the investors who will help with trying to buy the seven percent stake of the team that is currently in bankruptcy (Ken Berger of CBS Sports tweets). He also names Mastrov and Burkle as the other benefactors who are spearheading the city's bid to keep the Kings in Sacramento (Twitter links). Berger clarifies that Mastrov will be a majority investor in the team, while Burkle will help lead the new downtown arena project.
12:07pm: Sacramento mayor Kevin Johnson is scheduled to make his State of the City address tonight, and may reveal the identities of the investors he has recruited to make a counter-offer for the Kings, according to Tony Bizjak, Ryan Lillis, and Dale Kasler of the Sacramento Bee. The so-called "whales" are widely believed to be Ron Burkle and Mark Mastrov, though Johnson has yet to confirm those reports.
While the Maloofs reached an exclusive agreement with Chris Hansen's Seattle group that prohibits them from negotiating with anyone else, the Kings majority owners are willing to accept "backup offers" for the franchise, a source tells the Bee. Whether an offer comes from Burkle and Mastrov or from minority owner John Kehriotis, who is said to be putting together a proposal of his own, it "would have to be a backup offer to the definitive agreement" between the Maloofs and the Seattle group, according to the source.
At least one Sacramento city council member, Steve Cohn, is intrigued by the push being made by Kehriotis to secure the necessary funds for an offer, since he wouldn't be seeking a public subsidy for a new arena. While Cohn is skeptical that Kehriotis can assemble all the financing, he notes that it would save Sacramento "a lot of money." Assuming the Burkle/Mastrov bid pursues a public subsidy, city officials have indicated they would provide up to $255MM, the amount provided for a proposed arena last spring, according to the Bee report.
Meanwhile, although one report suggested that Hansen's Seattle group never paid the $30MM non-refundable deposit that was due to the Maloofs by February 1st, Joe Maloof confirmed that the payment was in fact made, according to the Bee.
Isaiah Thomas’ 2013/14 Contract Now Guaranteed
When the Kings signed Isaiah Thomas after selecting him with the 60th and final pick in the 2011 draft, the team inked the point guard to a unique three-year contract. Per Mark Deeks of Sham Sports, the second and third years of the deal were fully unguaranteed, but could become guaranteed if Thomas met certain criteria.
Thomas' 2012/13 contract became guaranteed when, in his rookie season, he appeared in at least 50 games, averaging 15+ minutes in the 50 contests in which he played the most. Thomas needed to meet those same criteria this season in order to guaranteed his 2013/14 salary, and did so earlier this month. Thomas has now appeared in 56 games in '12/13, averaging 25.5 minutes per contest.
The 24-year-old isn't exactly set for a big payday next season, as he's in line to earn the minimum $884,293. But that's one more guaranteed contract to add to the Kings' books as the team approaches an uncertain offseason, with the franchise expected to change hands. Sacramento now has nine players on guaranteed deals for 2013/14, with Aaron Brooks potentially becoming the tenth if he exercises his $3.4MM player option.
Odds & Ends: Draft, Oden, Greene, Kings
The news of the night so far in the NBA is that Pacers' Roy Hibbert and Warriors' David Lee have each been suspended one game without pay for their roles in last night's skirmish (Twitter links from Yahoo's Marc Spears). In addition, Lance Stephenson, Stephen Curry and Klay Thompson were each fined $35,000 for "escalating the altercation." Hibbert already told Mike Wells of the Indianapolis Star that he will pay Stephenson's fine for being a good teammate, tweets Wells.
Lee will serve his suspension tonight, as the Warriors visit in the Knicks in one of 10 games on tonight's schedule. Mark Jackson, back in Madison Square Garden as head coach of the Warriors, has already expressed his displeasure with the league's decision, tweets Adam Zagoria of NBA.com. Here are some other odds and ends from around the league:
- Chad Ford of ESPN released his latest draft blog, available to insiders only and complete with an updated top 30. Ben McLemore of Kansas tops his big board but as Ford asserts, this year's top 10 promises to be as ever-changing as any in recent memory.
- Greg Oden will not decide on his next team until July, reports Sam Amico of Fox Sports. This agrees with last week's report from Marc Spears of Yahoo that Oden won't sign until the offseason, though it sounds like this came directly from Oden's agent, Mike Conley. Amico writes that Oden came close to signing with the Cavaliers earlier this month, but an agreement couldn't be reached. Conley believes that once Oden works his way into game shape, he will again have All Star potential.
- Free agent forward Donte Greene, now healthy after fracturing his ankle in August, will work out for teams at Eastern Michigan University on Sunday, tweets Marc Spears of Yahoo. Spears reported last week that the Nets, Pacers, Hornets, Spurs, Bulls, Knicks, Magic, Rockets, and Cavaliers have all checked in on Greene, who played the last four seasons in Sacramento. Citing a league source, Nets Daily has reported the Nets are not currently interested in filling their open roster spot by adding Greene.
- As was rumored yesterday, it appears that Kings minority owner John Kehriotis does in fact intend to submit a "back-up offer" to the Maloofs to buy the Kings, reports Tony Bizjak of the Sacramento Bee. Kehriotis apparently has the capital to match the offer from the Seattle group and believes he has the legal right to counter their attempt to buy the team, according to the report.
- Meanwhile, the Sacramento city council voted on Tuesday night to approve the request made by city officials to begin negotiations over the financing of a new arena, reports Bizjak. These negotiations are a crucial element to Sacramento's bid to keep the Kings.
Pacific Notes: Robinson, Salmons, Lakers, Clips
Tempers flared near the end of the Pacers' 108-97 win against the Warriors last night, as Roy Hibbert, David Lee, Stephen Curry, and others exchanged shoves and came close to spilling into the stands. While Hibbert figures to be the prime candidate for a suspension, the Warriors are also awaiting word from the league to hear whether they'll lose any of their players for a game or two. In the meantime, here are a few more notes from around the Pacific Division:
- According to Thomas Robinson's former teammate Tyreke Evans, 2012's fifth overall pick was frustrated with his role with the Kings and will benefit from a change of scenery. "[Robinson] is going to be pretty good," Evans told Lang Greene of HoopsWorld. "He’s young and got a lot of talent. He was a little frustrated here, but the same thing [happened] with Derrick Favors. He was in New Jersey frustrated, went to Utah and now he’s playing good."
- Robinson wasn't the only player frustrated in Sacramento. John Salmons tells Chris Tomasson of FOX Sports Florida that he's not pleased with his reduced role with the Kings, but that he's "not going to be a distraction or complain about it."
- Appearing on CBS Radio, Lakers GM Mitch Kupchak admitted that management has been impatient with some of its decisions in recent years, in hopes of making one more championship run before Jerry Buss passed away (link via Royce Young of CBSSports.com). The firing of coach Mike Brown five games into the season may have been one of those decisions, Kupchak acknowledged.
- Jamal Crawford's tweet yesterday, in which he expressed a desire to remain with the Clippers for the rest of his career, is another sign of the team's changing culture led by Chris Paul, writes Arash Markazi of ESPNLosAngeles.com.
Latest On Kings, Sacramento, Seattle
Yesterday, we heard that Sacramento mayor Kevin Johnson is preparing to unveil his "whales" for the city's competing bid to keep the Kings in Sacramento, with an announcement possible on Friday. As we wait on Johnson's next update, let's round up a few links related to the Kings sale, Sacramento, and Seattle:
- Ryan Lillis of the Sacramento Bee reports that the Sacramento City Council is expected to approve a request for permission to negotiate a new arena.
- David Flemmer, the bankruptcy trustee overseeing the sale of a 7% share of the Kings, may accelerate the process, according to Dale Kasler of the Sacramento Bee. Whoever buys the share is expected to have the opportunity to exercise the right of first refusal and make a competing bid for the majority share of the franchise. The auction for the 7% share is currently set for April.
- According to an FTXL Fox Sports report, as passed along by Ailene Voisin of the Sacramento Bee, another Kings minority owner, John Kehriotis, may be preparing to exercise the right of first refusal and make a bid himself.
- When the Sacramento City Council considers its contribution to an arena proposal, it won't be starting from scratch, but it also won't be emulating last year's plan, according to a Sacramento Bee report from Kasler, Ryan Lillis, and Tony Bizjak. The Bee report suggests that City Council will be asked to give top city officials the OK to begin formal negotiations on an arena plan with a private investment group, presumably led by Ron Burkle and Mark Mastrov.
- Darrell Fong, one of two Sacramento City Council members to vote against a resolution to express support for a city contribution to a new arena last week, explained his no vote, as Lillis details.
- Seattle city officials have started readying KeyArena for basketball and scheduling arena time to be available for the SuperSonics in 2013/14, reports Lynn Thompson of the Seattle Times.
Pacific Notes: Suns, Telfair, Kings, Johnson
After downing the Mavericks on Sunday, the Lakers are in Denver tonight to try and get back to the .500 mark against the Nuggets. It'll be a tall order for Los Angeles as the Nuggets are an eye-popping 23-3 at the Pepsi Center this season, but things seem to be clicking for Kobe Bryant & Co. as of late. Here's more out of the Pacific..
- Guard Sebastian Telfair sounds happy be leaving the Suns behind, writes Eric Koreen of the National Post. “You’ve got a goal to win and if you’re not winning you at least want to be out there competing at the highest level. We weren’t doing that over there in Phoenix this year," said the newest member of the Raptors. "I’m happy to be a part of a team that got a goal for themselves and night in and night out they’ve got something to achieve.”
- A source close to the situation says that Sacramento mayor Kevin Johnson will have a major announcement relating to the city's bid to keep the Kings by this Friday or sooner, tweets Aaron Bruski of NBC Universal. Johnson is reportedly readying his group of prospective buyers and presenting a final bid to the NBA's board of governors.
- Ailene Voisin of the Sacramento Bee argues that if a small market like San Antonio can successfully support an NBA franchise that the city of Sacramento can do the same. The Spurs are actually saddled with a smaller television market than the Kings – San Antonio ranks 36th in the country while Sacramento is 30th.
Teams With Open Roster Spots
Since the trade deadline, a pair of contenders have taken advantage of having an open roster spot, with the Knicks adding Kenyon Martin on a 10-day contract and the Thunder agreeing to sign Derek Fisher for the remainder of the season.
For New York and Oklahoma City, adding a veteran as a 15th man makes sense for depth purposes, and we may see a few more playoff contenders take the same approach as Friday's buyout deadline nears. For non-contenders, a D-League pickup or two may be more likely, as teams take a look at players who may be able to contribute beyond this season.
Clubs carrying fewer than 15 players are more likely to add free agents at this point, since they won't have to release a player on a guaranteed contract to clear space for a pickup. So with the help of our constantly-updated roster counts page, let's take a quick look at the list of teams with at least one open roster spot. The number of available spots is indicated in parentheses.
Eastern Conference:
- Boston Celtics (2)
- Brooklyn Nets (1)
- Charlotte Bobcats (1)
- Chicago Bulls (1)
- Detroit Pistons (1)
- Miami Heat (1)
- Orlando Magic (1)
Western Conference:
- Golden State Warriors (2)
- Houston Rockets (1)
- Los Angeles Clippers (1)
- Los Angeles Lakers (1)
- Memphis Grizzlies (2)
- New Orleans Hornets (2)
- Sacramento Kings (1)
Latest On Kings, Seattle
Dale Kasler, Ryan Lillis, and Tony Bizjak of the Sacramento Bee report that a Seattle judge has rejected a lawsuit that would have challenged the legality of the arena plan the Chris Hansen-led ownership group has in place in the event that the Kings are sold to them and allowed to relocate. The lawsuit, filed on behalf of the International Longshore and Warehouse Union, would have challenged the proposed arena's location, as well as the environmental regulations that it may have bypassed.
The report indicates, however, that those connected with the efforts to keep the Kings in Sacramento did not take this lawsuit seriously, and instead are relying on their own forthcoming offer to purchase the team from the Maloof family and prevent it from moving to Seattle. There has been no definitive announcement as to who is involved with the Sacramento group, but heavy speculation persisits that the primary investors are Ron Burkle and Mark Mastrov.
The Seattle group still faces a prospective lawsuit on behalf of Seattle taxpayers, questioning whether the city will make a profit on the publicly funded arena.