David Stern Says Sacramento Group Needs More Cash for Kings to Stay
David Stern has called on the Sacramento group trying to keep the Kings from moving to Seattle, to loosen their purse strings.
According to a story by Ben Olliver of Sports Illustrated, Stern made it clear that substantial counteroffer would have to be made.
NBA commissioner David Stern told reporters in Oakland on Friday that a bid to keep the Kings in Sacramento is not currently strong enough to compete with a Seattle-based investment group’s bid, but that he believes the bid will soon be increased.
The Associated Press reported that the Sacramento group has “very strong financial people behind it but it is not quite there” compared to the Seattle group, which is led by Valiant Capital’s Chris Hansen and Microsoft CEO Steve Ballmer and which aims to relocate the franchise.
Stern added that there was a “substantial variance” between the two bids, noting that “unless it increases, it doesn’t get to the state of consideration,” and “right now it is fair to say that the offers are not comparable.”