The Maloofs' obligations extend further than the $77-million loan the Kings owe the City of Sacramento. KFBK has learned that the majority owners have also taken out a line of credit with the NBA for roughly $75-million.
Kings' spokesman Mitch Germann said the team used the line of credit. However he would not confirm nor deny the current balance. "As a privately held company, the team does not release specific financial figures."
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Sources have told KFBK that an approximately 200-page document outlining the Kings move to Anaheim currently sits on NHL Ducks Owner and Honda Center operator, Henry Samueli's desk. Just last week lawyers were combing through the finer details of the deal. Honda Center officials would not confirm if Samueli had signed off on the agreement.
Those close to the negotiations say Samueli and the Maloofs are not sure they have enough support from the rest of the league's owners to approve the move. Kings officials have said all four Maloof brothers will be attending the NBA Board of Governors' meetings this week in New York City to try and convince at least 15 other teams to allow the Kings to relocate.
http://www.kfbk.com/pages/robmcalliste.html?article=8425522
Kings' spokesman Mitch Germann said the team used the line of credit. However he would not confirm nor deny the current balance. "As a privately held company, the team does not release specific financial figures."
......
Sources have told KFBK that an approximately 200-page document outlining the Kings move to Anaheim currently sits on NHL Ducks Owner and Honda Center operator, Henry Samueli's desk. Just last week lawyers were combing through the finer details of the deal. Honda Center officials would not confirm if Samueli had signed off on the agreement.
Those close to the negotiations say Samueli and the Maloofs are not sure they have enough support from the rest of the league's owners to approve the move. Kings officials have said all four Maloof brothers will be attending the NBA Board of Governors' meetings this week in New York City to try and convince at least 15 other teams to allow the Kings to relocate.
http://www.kfbk.com/pages/robmcalliste.html?article=8425522
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