Billionaire fined for trying to undo Sacramento Kings arena Print
Written by Anthony Rome   
Monday, 09 September 2013 23:15
NBA Headline News

Billionaire Hansen fined for role

chris hansen sacramento kings nba odds

SACRAMENTO, Calif. (AP) - Billionaire Chris Hansen must pay $50,000 for his role in a secretive effort to funnel money to a group trying to thwart Sacramento's efforts to build a new downtown arena, the California Fair Political Practices Commission said Monday.

View 2014 NBA Finals Odds

The FPPC found that, just days after the NBA rejected Hansen's $625 million bid to buy the Sacramento Kings and move them to Seattle, he gave $100,000 to a group leading an effort to thwart Sacramento's efforts to keep the team.

A group of investors led by technology executive Vivek Ranadive bought the team for $535 million, one day after the NBA rejected Hansen's bid.

The NBA has said that Sacramento must build a modern arena to keep the Kings in town. The team's new owners have set a 2016 target.

The state political watchdog found that Hansen gave $100,000 to a group gathering signatures to thwart Sacramento's plan to keep the team by forcing a citywide vote on the city's planned $258 million subsidy for a downtown arena.

Hansen tried to buy the team earlier this year as city officials scrambled to find a buyer who would keep the franchise in Sacramento.

The FPPC said Hansen is being punished for failing to file a campaign statement.

The hedge fund manager has apologized, saying he regretted his actions.

``I take a lot of pride trying to do things the right way in my life, and I simply should not have allowed myself to get caught up in the competitive dynamics of this situation and never should have agreed to commit any funds to the Sacramento Arena opposition - under any circumstances,'' Hansen said in a statement posted on his website.

Bet 2014 NBA Finals Odds

Want More From TheSpread.com? Follow us on Twitter and Fa cebook or Subscribe to Our News Feeds!

 

 

NBA Team Pages

Top NBA Public Bets

#1 721 Atlanta Hawks 66%
#2 719 Golden State Warriors 65%
#3 712 Miami Heat 61%
#4 714 Chicago Bulls 60%
#5 718 Oklahoma City Thunder 57%
#6 730 San Antonio Spurs 55%
#7 710 San Antonio Spurs 53%
#8 716 Houston Rockets 52%
#9 724 Toronto Raptors 51%
View All: NFL |  NBA |  NCAAF |  NCAAB |  MLB |  NHL

NBA Futures

NBA TEAM NBA FINALS ODDS CURRENT
MIAMI HEAT 2/1
SAN ANTONIO SPURS 11/4
OKLAHOMA CITY THUNDER 15/4
INDIANA PACERS 9/1
LOS ANGELES CLIPPERS 12/1
HOUSTON ROCKETS 18/1
BROOKLYN NETS 18/1
GOLDEN STATE WARRIORS 20/1
PORTLAND BLAZERS 40/1
CHICAGO BULLS 40/1
View All

Privacy Policy | Terms of Service | Contact Us | Advertising | 888-99-SPREAD

THIS IS NOT A GAMBLING SITE – If you think you have a gambling problem click here.

Disclaimer: This site is for informational and entertainment purposes only. Individual users are responsible for the laws regarding accessing gambling information from their jurisdictions. Many countries around the world prohibit gambling, please check the laws in your location. Any use of this information that may violate any federal, state, local or international law is strictly prohibited.

Copyright: The information contained on TheSpread.com website is protected by international copyright and may not be reproduced, or redistributed in any way without expressed written consent.

About: TheSpread.com is the largest sports betting news site in the United States. We provide point spread news, odds, statistics and information to over 199 countries around the world each year. Our coverage includes all North American College and Professional Sports as well as entertainment, political and proposition wagering news.

©1999-2013 TheSpread.com