A new hope has emerged for Kings fans still trying to find a way to keep their team in Sacramento instead of it following through on a long-rumored move to Anaheim. Sacramento mayor Kevin Johnson announced that Ron Burkle, the co-owner of the Pittsburgh Penguins and the owner of Ralph's supermarket chain, is interested in purchasing the team and keeping it in Sacramento.
New news Today is that billionaire Ron Burkle is very interested in buying the kings and keeping them in sac #kings
The Maloof brothers, who currently own the team, have insisted that they are not interested in selling. But they are somewhere between $100 and $200 million in debt, and are also facing increased opposition to the move from many other NBA owners. Burkle is ranked 98th on Forbes' Top 400 list, with a net worth of $3.2 billion. He certainly seems to have the amount of money needed to buy the team and take on the Maloof brothers' debt.
The new development may have come too late, though. If the Maloofs have no plans to sell the team, it won't matter. A team source who was in the owner's executive committee meeting told CBS Sports' Ken Berger that the news is likely "too little, too late."
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Burkle and Magic Johnson are often business partners. It would be interesting if Magic ended up in the deal, too.
by Just Jake on Apr 14, 2011 7:22 PM EDT reply actions
If a majority of the owners
are against relocation and it’s barred, then it could compel the Maloofs to sell the team.
by thewiz06 on Apr 14, 2011 8:26 PM EDT reply actions
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