David Stern says Sacramento bid not on par with Seattle

David Stern speaks at the 2013 NBA All-Star weekend in Houston. (Photo by Scott Halleran/Getty Images)

David Stern spoke with Sacramento reporters on Friday night in Oakland about the Kings counter bid to keep the franchise in Sacramento. Stern said while there were strong backers attempting to keep the Kings in Sacramento, the bid was not financially comparable to Seattle’s bid.

The Maloof family that owns the Kings sold a majority stake of the team to a Seattle group led by hedge fund manager Chris Hansen in January.  The Seattle group intends to move the franchise back to Seattle to operate under their former SuperSonics moniker.

Teams attempting to relocate need to file by March 1 to the NBA league office.

Stern ruled out the possibility of expansion in the NBA but does expect a comparable offer to attempt to build the Kings a new arena in Sacramento.

NBA Commissioner David Stern says Sacramento bid is "not quite there" financially compared to Seattle. He's hopeful it will be eventually.—
Antonio Gonzalez (@agonzalezAP) March 09, 2013

Stern says Kings counterbid has "strong people behind it but not quite there compared to Seatle bid." Stern says $ needs to be increased.—
Marc J. Spears (@SpearsNBAYahoo) March 09, 2013

Stern said representatives of the Maloofs have seen Sacramento bid. Wouldn't elaborate but said right now "there's a substantial variance."—
Antonio Gonzalez (@agonzalezAP) March 09, 2013

Stern says there will be meeting April 3 on Sacramento-Seattle situation to avoid chaos that has occurred in past at BOG meeting.—
Antonio Gonzalez (@agonzalezAP) March 09, 2013