Sacramento Kings worried that NBA owners won’t let them move to SoCal
The Sacramento Kings’ expected move to Anaheim, Calif., is not yet assured, Sacramento radio station KFBK reported Tuesday.
Sources told the station that team owners Joe and Gavin Maloof, as well as Honda Center operator Henry Samueli, are concerned that the Kings don’t have enough support among NBA owners for a move. The station gave no reason for the owners’ possible reluctance.
The Kings would play in Samueli’s arena beginning next season if they are allowed to leave Sacramento. Samueli has received a 200-page document that outlines a Kings move to Orange County, KFBK reported. The team would share the Honda Center with the NHL’s Anaheim Ducks, also owned by Samueli.
The Kings will present their case for relocation this week at the NBA’s Board of Governors meetings in New York. At least 15 owners must approve a move. The team has until next Monday, April 18, to apply for relocation. Sacramento Mayor Kevin Johnson will travel to New York to argue against a shift, KFBK reported.
The radio station also reported that the Kings’ financial situation is worse than has been reported. KFBK reported the team has borrowed $75 million through a line of credit with the NBA, on top of the $77 million it owes the city of Sacramento. Kings spokesman Mitch Germann confirmed to KFBK that the team has used the line of credit but would not say how much money it has borrowed.
NBA spokesman Mike Bass told the station that the 19 NBA teams have tapped the line of credit. A team can borrow up to $125 million, Bass told KFBK.
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