Counteroffer for Kings

Sacramento Mayor Kevin Johnson is taking his fight to keep the Kings in California’s capital city to NBA owners.

Speaking at the annual State of Downtown breakfast on Tuesday, Johnson said he has received approval from NBA Commissioner David Stern to present a counteroffer to the league from buyers who would keep the team in Sacramento.

And both times, Johnson – a former NBA All-Star – has convinced the league that Sacramento could help fix the franchise’s financial woes and secure its long-term home in a new arena.
The Kings’ future in Sacramento has been uncertain because the Maloofs and the city haven’t been able to agree on a deal for a downtown arena.

The Maloofs backed out of a tentative $391 million deal for a new downtown arena with Sacramento last April, reigniting fears the franchise could relocate.

In 2011, the Kings appeared determined to move to Anaheim before Johnson convinced NBA owners at a meeting in New York to give the city one last chance to help finance an arena.

Subtracting those totals and adding the “proven support” Kings fans have shown in the past, Johnson’s goal is to line up buyers willing to pay about $400 million to $425 million for the team and argue Sacramento’s side to the league.