Share “Stern expects Sacramento plan within 2 weeks”

Stern expects Sacramento plan within 2 weeks

Published on NewsOK Modified: February 14, 2013 at 8:33 pm •  Published: February 14, 2013
Advertisement

HOUSTON (AP) — NBA Commissioner David Stern expects a concrete financing plan from Sacramento Mayor Kevin Johnson within the next two weeks, with the aim of settling the Kings' future by mid-April.

Stern said that Johnson will attend an April 17-18 owners meeting in New York to deliver his proposal, but the league expects to have heard it by then.

"We have an April 17th meeting of the board, but if the mayor follows through on what he's told us, we'll have it comfortably by March 1," Stern said Thursday.

Johnson is trying to line up investors to buy the Kings and keep them in his city with a new arena, rather than watch them move to Seattle.

Speaking at an All-Star weekend event, Stern also said he doesn't currently see "a push for expansion" among owners, knocking down the idea that both cities could end up with teams.

"My statement about expansion is talk to Adam next year," Stern said, with commissioner-elect Adam Silver standing behind him. "I don't have any plans to champion expansion between now and Feb. 1, 2014. That's up to the ownership and the commissioner."

Stern will retire as commissioner on that date.

A Seattle group led by Chris Hansen and Steve Ballmer has reached an agreement with the Maloof family to buy 65 percent of the franchise, which is valued at $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million.

Continue reading this story on the...