Showing posts with label David Stern. Show all posts
Showing posts with label David Stern. Show all posts
Friday, May 11, 2012
MVP to buy 'Sacramento Kings' ?; Will meet NBA Commissioner David Stern to talk about potential deal
Filipino tycoon Manuel V. Pangilinan and 'MVP Sports Foundation' Executive Director Chot Reyes will be meeting with NBA commissioner David Stern to discuss a potential deal for the Sacramento Kings, a highly-placed source told InterAKTV on Thursday.
Pangilinan, who bankrolls Talk ‘N Text and Meralco in the PBA and serves as President of the Samahang Basketbol ng Pilipinas, has been linked to the Kings in the past. Rumors of his interest in the NBA franchise began in April last year, when the team was facing questions about its future in Sacramento. The Maloof family, however, denied interest in selling the franchise.
In March, the city announced that it had come to an agreement with the Kings owners and the NBA on a tentative deal that would provide for the construction on a new arena for the squad. In April, however, the Maloofs announced that it was backing out of the deal, before Sacramento Mayor Kevin Johnson announced that talks with the Kings owner were over, citing “irreconcilable” differences.
“The differences are too far apart. They could not be really overcome. We felt that this fair deal was something everyone was willing to agree to. But the economics for them was difficult,” Johnson told USA Today last month.
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