Feb 21, 2013; Los Angeles, CA, USA; NBA commissioner David Stern talks to the media outside the Nokia Theater as he arrives for the memorial service for Dr. Jerry Buss who passed away Feb 18, 2013. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports

Kings: David Stern Says Sacramento's Bid Needs to Increase

NBA Commissioner David Stern spoke to the media today before the Warriors vs. Rockets game at Oracle Arena, and none of the conversation was about the Warriors or Rockets.

Instead, swarms of Sacramento media made the trek to Oakland and asked Stern about the situation surrounding Sacramento’s latest bid to keep the Kings.

The most poignant comment was when Stern flat-out stated that Sacramento’s bid wasn’t high enough for consideration by the NBA Board of Governors.

He added that the deal was “not quite there” financially compared to Seattle’s offer.

Stern also mentioned that although the owners can decide to sell to whomever they wish, the Board of Governors ultimately has the final say. He sped up the timeline to April 3rd for a potential resolution to this matter.

An investment group led by Mark Mastrov and Ron Burkle officially submitted an offer to the NBA to buy the Kings last week.

Mastrov and Burkle were named as the “whales,” or heavy hitters, by mayor Kevin Johnson in his State of the City address. Mastrov hopes to be the majority owner, while Burkle plans to finance a new downtown arena in Sacramento.

Mastrov is actually at the Warriors game tonight, and Stern remarked, “I’m going to say ‘hi’ to him.”

The Kings were sold a few months ago to a Seattle group led by Chris Hansen, but is pending approval from the Board of Governors.

 

 

 

Tags: David Stern Sacramento Kings

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