The Maloof family has given Sacramento an ultimatum: Come up with a solid bid to purchase the Kings by 5 p.m. Friday, or we won't even entertain your overtures.
A source close to those negotiations told The Bee on Wednesday that the Maloofs have given the ultra-wealthy investors seeking to keep the team in Sacramento two more days to submit a written, binding "backup" offer that matches the deal the family has in place to sell the franchise to a group in Seattle.
If the Maloofs receive a matching offer by the end of business Friday, they will consider it as a serious backup proposal should the NBA nullify their tentative deal with Seattle, the source said. If the offer doesn't arrive in time – or falls short of matching the Seattle bid – the Maloofs said they wouldn't negotiate with the Sacramento group.
You can read the rest of the article here: Maloofs serve ultimatum to Sacramento: Make binding bid for Kings by Friday
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