|Hansen increases bid for Kings to $625 million|
|Written by Admin|
|Friday, 10 May 2013 10:34|
Hansen also announced on his website Friday that he has guaranteed owners that the franchise would pay into the league's revenue-sharing system in Seattle and not collect money as it has in Sacramento.
Hansen has had a deal since January to buy a 65 percent controlling interest in the Kings from the Maloof family. He originally offered a total valuation of $525 million, then increased that offer to $550 million after a competing Sacramento group matched his deal.
The NBA's relocation committee voted 7-0 last week to recommend that the NBA Board of Governors - which consists of all 30 owners - reject the Seattle move. The board is expected to vote on the issue at its meeting in Dallas on Wednesday.