REPORT: Bankruptcy Trustee May Hurry Up And Sell Minority State In Sacramento Kings

(1090 The Fan) – According to a report from The Sacramento Bee, the trustee overseeing the bankruptcy auction of a seven percent stake in the Sacramento Kings might make the sale happen sooner than anticipated.

Trustee David Flemmer and his attorney say whoever buys the stake should have the right to match the offer made by Chris Hansen’s Seattle-based investment group.

As of right now, the auction for the seven percent isn’t set to take place until sometime in April.

The Maloof family, who are the majority owners, agreed to sell the team for $525 million in January; The Maloofs and business partner Bob Hernreich own 65 percent and would receive $341 million if the deal were to go through, according to The Bee.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


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