Ducks owner wants NBA team in Anaheim
Sacramento Kings owners Joe and Gavin Maloof have met with the owner of the NHL's Anaheim Ducks about possibly moving the Kings to Anaheim, Calif., The Orange County Register reported.
According to the initial report Wednesday by Sacramento radio station KFBK, Ducks owner Henry Samueli offered the Maloofs a $100 million loan to help cover costs associated with the move.
If the Kings were to move, the Maloofs would have to pay a $30 million relocation fee to the NBA and an estimated $30 million-$50 million to each of the Los Angeles Lakers and Clippers franchises for territorial rights.
NBA owners also would have to sign off on the idea of having a third team in the Los Angeles area.
Under the reported proposal, Samueli, who owns the Ducks' arena, would receive part-ownership of the Kings if the Maloofs were to default on the loan. Samueli has been looking for an NBA team to share the Honda Center for several years.
Samueli, who has owned the Ducks since 2005, tried unsuccessfully to buy the Kings last year.
The Maloofs, who own the Palms hotel and casino in Las Vegas, have looked into moving the Kings to Las Vegas, San Jose, Seattle or Kansas City after failing to secure funding to build a new arena.
The Kings' current home in Sacramento, 22-year-old ARCO Arena, was renamed Power Balance Pavilion earlier this week.
Power Balance makes popular bracelets that the company claimed could improve the user's balance and athletic performance. Power Balance admitted earlier this month to misleading consumers after Australian authorities ordered the bracelets to be withdrawn from the market.
"We admit that there is no credible scientific evidence that supports our claims," the company said.