Hello, Goodbye, Hello Kings

Even when it comes to building arenas and buying basketball teams, nothing’s ever over ‘till it’s over, and the latest case in point is the haggling over the NBA’s Sacramento Kings.

Following reports that a sale of the Kings to a group of Seattle investors was imminent, word from the California capital city is that AEG is still interested in building an arena there, and investors are still lining up to bid on the Maloof family-owned team.

AEG President/CEO Tim Leiweke, in town Jan. 15 on business at the Capitol, said his company is still interested in building a new arena, if Mayor Kevin Johnson can assemble a new ownership bid that would commit to keeping the team there.

“We haven’t changed our opinion about Sacramento or the arena,” he told the Sacramento Bee. He added that NBA Commissioner David Stern and Johnson asked him to return to the arena issue – which appeared dead in the water last spring when the Maloofs abruptly ended negotiations. Leiweke was to meet with the mayor later in the week.

“To the commissioner’s credit, I don’t think he ever forgot about Sacramento,” Leiweke told the paper, noting that Stern doesn’t like to relocate teams.

AEG pledged $59 million to the original arena plan that the Maloofs walked away from in April. Even if the location changes from the city’s railyards to its Downtown Plaza, “we are still committed to the same economic package,’ Leiweke said.

The mercurial Maloofs have already left a couple of cities twisting in the wind attempting to land the Kings.

Virginia Beach, Va., was in the running until it couldn’t strike a deal with the owners and walked away citing a funding deadline. The Maloofs have reportedly been negotiating to sell the team to a Seattle group. And even though it’s been burned once already, Sacramento is back in line with Johnson saying he is amassing investors.

Leiweke’s expression of interest seems to answer at least one question for Sacramento. Officials were unsure if AEG was still all-in after the 2012 breakdown.

The Seattle group, led by hedge fund manager Chris Hansen and Microsoft exec Steve Ballmer, is rumored to be ready to spend up to $525 million for the team in order to bring it to the Pacific Northwest, a figure Johnson calls “outrageous” for an NBA team.

Johnson said he will appear before the NBA’s Board of Governors with a counter-offer. Potential suitors include Bay Area financier Mark Mastrov, Southern California grocery magnate Ron Burkle and a “local group” of unidentified investors.