Awesome news and I am VERY excited about this term sheet. Much better than last time and obviously with much better ownership involved!
Just to state the obvious:
Hopefully the City Council takes a vote on Tuesday and approves this term sheet. I suspect it will.
The ownership group has to make a revised (equivalent) bid to the NBA BOG for the team itself. I am sure they will.
Then comes the lobbying of the NBA committee by Sacramento and Seattle on April 3rd. Then comes the vote on the 18th-19th or so after evaluation of the proposals.
If the above two things on Sacramento's side are met (and the lobbying goes well), (and I think they will be), basically it will come down to what the BOG feels about MSE's treatment of Sacramento (and the NBA's assistance to Sacramento over the years), the precedence of an owner agreeing to sell and move the team vs. the NBA not wanting teams to move from viable locations, the strength of both markets, past support for the team at the current location, anticipated support of the team at the new location, strength of the two bidding parties, current arena situation, feasibility and strength of arena proposals at both locations, and potentially the possibility of expansion in the next few years. There may be more topics as well.
Politics may trump all, as there are factors like wanting Burkle as an owner or wanting a new team owner that can help open up a market like India. Hoisting the WNBA banner again over a city that won a championship a few years ago is also attractive. As is the politics of a city stepping up to help finance an arena (multiple times!) for an NBA team - they do NOT want to set a precedent of rejecting such an offer and moving a team that has had pretty strong support over most of it's tenure.
There are a lot of topics to cover for the committee......