May 10, 2013 at 12:18 PM
Chris Hansen increases offer for Kings by $75 million
Chris Hansen, who is leading the effort to purchase the Sacramento Kings and move the NBA team to Seattle, has said he will increase the offer by $75 million.
On the sonicsarena.com website, Hansen says, “In an effort to further demonstrate the extent of our commitment to bring basketball back to Seattle, we have elected to voluntarily increase our proposed purchase price for the Sacramento Kings NBA Franchise by $75 million — from an enterprise value of $550 million to $625 million. In conjunction with our revised offer, we have also guaranteed to the NBA that the Franchise would be a revenue sharing payer in all years in Seattle.”