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Another Day, Another Press Conference For KJ On Effort To Keep Kings

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SACRAMENTO (CBS13) – In the ongoing saga regarding the future of the Sacramento Kings, Mayor Kevin Johnson is talking with state senators this afternoon before again meeting with the media.

Johnson will meet with Senate Pro Tem Darrell Steinberg and Senator Ted Gaines at 2 p.m. regarding efforts to keep the Kings in Sacramento. The mayor and senators will hold a press conference at about 3 p.m.

It will be the third consecutive day of a press conference for Johnson, who on Tuesday introduced 19 local investors pledging $1 million each in a bid to buy the Kings from the Maloof family. He said two more bidders have since come forward.

On Wednesday the mayor said progress was being made in identifying a major investor group that would provide the bulk of the money for a sale offer. He also said developers have expressed interest in building a new downtown arena, with or without the Kings still in town.

Johnson is scrambling for a plan to present to the NBA to keep the Kings in the wake of the announcement earlier this week that the Maloofs had entered a sales agreement with a Seattle group led by Chris Hansen that valued the franchise at a record $525 million.

The agreement calls for the Maloofs to sell their majority stake in the team to Hansen’s group, which would move it to Seattle starting next season.

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