Mayor Johnson today said that he was going to try to find investors to buy the Sacramento Kings ahead of the Hansen group, which is planning to move the team to Seattle. But the Mayor's investors would have to come up with close to a billion dollars, and that ain't likely. First, the Hansen group is going to pay the Maloof group $500 million. That will enable the Maloofs to pay off the team's debt and walk away with a profit. In addition, the Hansen group is paying for a new basketball arena in Seattle--for nearly another $500 million.
Update: I was wrong. The Hansen group is only buying 65% of the team, so the Maloofs' take will be about $340 million. This values the entire team at a bit more than $500.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment