Sacramento’s patience could cost it Kings
By Brent Stecker
The battle for the NBA’s Sacramento Kings took an unexpected turn Thursday, as Sacramento’s proposed ownership group both failed to deliver on a promised arena term sheet and introduced a new member of its ownership group.
Sacramento Bee business writer Dale Kasler joined “Bob and Groz” Friday and agreed that Thursday’s developments (which included the reveal of Vivek Ranadive, currently a limited partner of the Golden State Warriors, as a group member) were confusing, and that time is running out on the group’s hope to keep the Kings in Sacramento.
“On the one hand you have the arena term sheet, (which) had been promised for yesterday, (get) delayed. We still don’t have it yet and the clock is ticking on that,” said Kasler. “On the other hand they trot out a new owner on the bid for the team (Ranadive), who is very solid, very capable, and already a limited partner of the Golden State Warriors. (He is) somebody who would bring a lot of credibility to a team that already had a fair amount of credibility.”
Though the arena term sheet is due April 2, Kasler said the group is taking its time to make sure everything is organized correctly.
“Certainly they are trying to play catch-up … but that doesn’t mean they are doomed to fail,” said Kasler. ” The feeling among the Sacramento officials is, ‘Let’s get this arena deal right, let’s get this ownership group right, and the NBA is probably not going to care if things are put together somewhat at the last minute as long as everything is solid.’ “
That could cost them, though.
“(The arena term sheet) has to be (out by April 2). If there is no deal by April 2, I have to assume the team goes to Seattle,” said Kasler. “I think it’s done. There has to be a solid package in front of this NBA relocation finance committee that’s meeting April 3, or they’re just going to toss Sacramento out.”