The twists and turns in this long, lengthy saga surrounding the Sacramento Kings are never ending. Now a report out of Seattle suggests that negotiations have seemed to hit a bump in the road.
The Seattle Times reports that the Maloofs would like to maintain a say in the franchise’s direction despite selling majority interest in the team. It was originally reported by Yahoo! Sports that the Kings owners would hang on to just a minority stake following a sale to Chris Hansen’s ownership group.
The source said it goes “beyond dollars and cents” and stressed how important being involved in the NBA has been to the family. “Everyone is underestimating what being owners means to them,” the source said.
A difference of opinion between brothers Joe, Gavin and George Maloof has been widely speculated. Joe and Gavin have been the most active members of the family in the franchise’s course since they took controlling interest in the team back in 1998. Meanwhile, brother George is believed to have been the driving force behind negotiations in Anaheim and Virginia Beach.
Earlier this afternoon, News 10 reached out to George Maloof, who told the local ABC affiliate a deal with the Seattle buyers is not close. Yesterday, CBS 13 reported that the family had rejected the Seattle group’s offer to purchase the team.