April 2, 2013 at 9:22 PM
Johnson Tweets Sacramento to keep 7 percent bankruptcy share of Kings
The news keeps coming as the battle over the Sacramento Kings takes a critical step tomorrow with meetings before the NBA, as Sacramento mayor Kevin Johnson Tweeted tonight that a current limited partner has filed an intent to buy a 7 percent share of the team that had been in bankruptcy.
Big News! Kings limited partner files intent to match offer on 7% with trustee. It's staying in Sacramento! #PlayingToWin
— Kevin Johnson (@KJ_MayorJohnson) April 3, 2013
Chris Hansen, leader of the Seattle group, made an agreement last week to buy the share. But limited partners had the right to match.
CBSSports.com reported earlier today that the intent to buy from a limited partner had been expected, and that those shares will now be considered as part of the Sacramento presentation at the Wednesday meetings.