The Maloof family has set a Friday deadline for Sacramento investors seeking to buy the Kings franchise to match the offer made by a Seattle based group also looking to buy the team, the Sacramento Bee reported Wednesday. The Maloofs, who are looking to sell their ownership of the Kings, have given investors until 5 p.m. PT Friday to submit a written, binding "back-up" offer that matches the deal the family has in place to sell the franchise to a group in Seattle who have expressed interest in relocating the franchise, sources close to the deal told the newspaper.
Sacramento is trying to block the bid from the group in hopes to keep the franchise. NBA owners are vetting both offers.
The source told the newspaper that if the Maloofs receive a matching offer by Friday, they will consider it as a serious back-up proposal should the NBA veto their tentative deal with the Seattle group. However, the Friday deadline may be the final effort to keep the Kings in Sacramento as the Maloofs have said they would end talks with the group if they fail to meet the deadline, the newspaper reported.
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