Yesterday marked the conclusion of the two day Board of Governors (BoGs) meetings that would all but determine the fate of the Kings. While no recommendation on relocation has been made, commissioner David Stern said he expected a decision to come in the next week or so.
“And I guess the most concrete thing I can tell you,” Stern said, “the committees will be meeting next week, likely towards the end of next week, and out of that meeting. At that meeting, they will take a vote on their recommendation, and they will issue a report, which will then be sent out to the entire Board of Governors, who, by our constitution rules, must have seven business days to consider that report.”
Stern would also say that the offer made by the Sacramento group is in the “same ballpark with respect to the net result to the selling family,” and that the committee is satisfied with the other.
The Maloofs, however, are not satisfied. In a letter to the BoGs, the Maloofs lifted their self-imposed gag order and criticized the Sacramento investors for not matching Hansen’s increased valuation offer of $550 million. The letter also casts doubt on the validity of the Sacramento offer, arguing that the constant infusion of new investors was evidence of a “lack of funds.”
The letter concludes by asserting that the Maloofs “see no reason to continue any dialogue with the Sacramento group or to give any further consideration to negotiating backup offers based on its latest non-binding proposal.”
All of this amounts to a Veruca Salt-esque temper tantrum. The Maloofs want their way, and they want it now. If the owners actually vote in favor of the move to Seattle, it would be a travesty. Not only because Sacramento will lose its beloved Kings, but because the impetuous Maloofs will have won. This world doesn’t need a Maloof victory. It has plenty of injustices and tragedies already. I just hope the BoGs knows this.