The Sports Business Daily is reporting today that the NBA has asked a Sacramento group to cover the $30 million deposit that a Seattle group has given to the current owners of the Kings in case the league decides to not approve the sale.
The story further states that the NBA wants to make the Seattle group whole in case it loses the bid, in part as a sign that the league “remains high on the market.”
The story also states definitively that the Seattle group would lose the money if it does not get the Kings.
Michael McCann, an on-air legal analyst for NBA TV, also said that covering the money would help mitigate possible legal action from the Seattle side if its bid for the team is denied:
@bcondotta Legal strategy key. If SAC doesn’t cover $30m, would expose NBA to possible (if unlikely) tortious interference, antitrust suits.
— Michael McCann (@McCannSportsLaw) April 11, 2013