In a potentially huge break for the city of Sacramento, David Flemmer, a bankruptcy trustee who controls 7 percent of the Kings, says that the minority owners are being denied their right to match the deal reached by Chris Hansen and the Maloofs to sell the team.
Minority owners have the “first right of refusal” to buy the team, the Sacramento Bee reports.
Flemmer intends to speak at a hearing next week at a Bankruptcy Court and discuss the issue.
Meanwhile, the Maloofs don’t believe that minority owners have the first right of refusal. They own 65 percent of the Kings, and have proceeded to sell them to a Seattle-based investment group led by Hansen.
If this becomes an issue and the courts get involved, the process to sell and relocate the Kings to Seattle may take a bit longer, giving Sacramento more time to make a move.
Tags: Sacramento Kings