Seattle’s NBA hopes take hit

The $2 billion agreement between the Sterling family trust and Seattle-based former Microsoft chief executive Steve Ballmer for the Los Angeles Clippers has dealt a significant blow to Seattle’s long-running hopes to reacquire an NBA team.

Just last month, Ballmer and partner Chris Hansen made a preliminary aggressive bid to buy the Milwaukee Bucks and move them to Seattle, offering in excess of $650 million, sources told ESPN.com. With an expected relocation fee, the price to turn the Bucks into the new Seattle SuperSonics would have topped $800 million.

However, then-Bucks owner Herb Kohl never pursued the option in favor of a $550 million bid from Wesley Edens and Marc Lasry because Kohl was committed to keeping the team in Wisconsin. As part of the agreement, the NBA has the right to buy the Bucks from Edens and Lasry if there is no new arena deal by the end of 2017, closing another door that Hansen and Ballmer had hoped was an option.

That made Ballmer and Hansen 0-for-3 in buy-and-relocate attempts in the past 18 months. They made an offer of $403 million for 65 percent of the Sacramento Kings last spring and had a signed a sales agreement. But the NBA rejected the move when a new arena deal was made and Vivek Ranadive bought the team for a valuation of $534 million, well less than the $625 million valuation Ballmer and Hansen offered.

Written by Nick

Nick

Nick the Quick White is an avid fan of basketball and hip hop, and a contributing writer with WJS since 2013. Nick has interviewed rappers, ballers, rapper ballers, and baller rappers on the site and continues to preach that the NBA should have a team in Europe. Maybe because Nick currently lives outside London where to them Football is actually played with your feet, can you believe this fatuousness?

Exclusive Method Man Interview