For the Sacramento Kings to move to Anaheim, the basketball team will have to go through Los Angeles. Literally.
And the team could hit some gridlock on the way south, according to a Sports Illustrated report Thursday.
The Los Angeles Lakers, Southern California’s basketball powerhouse, are reportedly ramping up a behind-the-scenes effort to oppose a Kings move.
Lakers owner Jerry Buss and coach Phil Jackson are leading the charge.
“I don’t see any community, I don’t care if it’s Bombay with 25 million (people), being able to support three teams,” Jackson told Sports Illustrated.
The Lakers’ concern: TV revenue. The team could lose up to $500 million on its long-term TV deal with Time Warner Cable Inc.
The issue is set to come to a head at the National Basketball Association’s Board of Governors meeting on April 14 and 15.
The Kings have until April 18 to make a decision on moving to Anaheim, which many watchers believe is likely.
So far Los Angeles Clippers owner Donald Sterling hasn’t publicly opposed a move. But he could push for a relocation fee of $30 million or more from the Kings.
In late March, Anaheim’s City Council approved $75 million in bonds to fund a basketball team relocation, including some $25 million in renovations to Honda Center.
Private investment firms headed by Henry Samueli—cofounder of Irvine-based Broadcom Corp. and owner of the Anaheim Ducks hockey team and the company that runs the city-owned Honda Center—are set to acquire the 10-year bonds.
Landing a basketball team has been a big goal of Anaheim and Samueli, who loves hockey but calls basketball his favorite sport.
Samueli now has a week or so to hammer out a deal with Kings co-owners Joe and Gavin Maloof, bringing together some high-profile business personalities.
