Kings sale: Kevin Johnson reveals several investors in local ownership bid

Kelley L Cox-USA TODAY Sports

Sacramento mayor Kevin Johnson announced a group of 19 local investors who have committed money to keep the Sacramento Kings franchise in town.

Sacramento mayor Kevin Johnson held a press conference to discuss the first step in the city's efforts to retain the Sacramento Kings franchise, and that involved finding local investors to keep the team from moving to Seattle.

The list of 19 local investors included two anonymous donors who committed $1 million each. Johnson said the criteria for local ownership included a love for the city, credibility and respect within the community, and financial commitment.

Thirteen of the local investors were present for Johnson's press conference on Tuesday. Here is a list of names from Cowbell Kingdom's James Ham:

Johnson said he set out last Thursday to find three to five individuals who would commit $1 million each, and he was surprised to find interest from many more investors. The next step, according to Johnson, would be to find an equity partner to back the franchise remaining in Sacramento.

"We're making great progress on the whales," Johnson said.

The NBA will review any counter-offer the city puts forward after the Maloof family reached an agreement to sell the franchise to a Seattle ownership group last week.

"Does that mean it's over?" Johnson said of the sale. "Absolutely not. Let me be very clear. We are going to do everything we can … to keep our team here in Sacramento."

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