SACRAMENTO, CA - Sacramento Mayor Kevin Johnson held a news conference Wednesday afternoon for the second day in a row to announce that the city is in discussions with big equity investors who may want to buy the Sacramento Kings from the Maloof Family, but did not reveal any names.
"We have had serious discussions and we're making considerable progress," Johnson said. "But I do want to respect the nature of those discussions and not really get into that at this particular time."
Reports said that the Maloof Family is willing to sell the team to a Seattle ownership group lead by Chris Hansen. In response to the news, Johnson started working to gather investors that would be able to offer a counter offer to the Seattle Group and help build a new arena in downtown Sacramento.
Johnson said he scheduled a call with NBA Commisioner David Stern Thursday to update him on the latest efforts to line up a local ownership bid to keep the Kings in Sacramento.