The Sacramento Kings didn't do themselves any favors on Thursday in terms of acquiring more talent when the NBA trade deadline passed at 12 p.m. PST.
The day before, the Kings traded Thomas Robinson, the No. 5 pick of the 2012 NBA Draft, Francisco Garcia and Tyler Honeycutt to the Houston Rockets for Patrick Patterson, Toney Douglas and Cole Aldrich and $1 million in cash considerations.
Trading Robinson had nothing to do with building a team and had everything to do with the Maloofs, the Kings' owners, squeezing a few more million dollars from the team before they become minority owners next season, whether it's with the Sacramento Kings or Seattle SuperSonics.
The deal saved the Maloofs $3.7 million in player salaries as they get ready to sell their 65 percent share of the team for around $341 million to go with a non-refundable $30 million they received from hedge fund manager Chris Hansen's Seattle-based ownership group who agreed to buy the Kings, valued at $525 million. The Maloofs filed for relocation to Seattle on behalf of Hansen's group.
A family that had a net worth of $1 billion, the Maloofs have fallen on rough times after they lost the Palms Casino Resort and own only two percent of the business now. They also lost their beer distributorship.
The Maloofs also owe a $77 million loan to Sacramento and owe the NBA a reported $125 million. The Sacramento Bee reported that the Maloofs have as much $205 million in debt.
Sacramento Mayor Kevin Johnson will try to keep the team by making a competitive offer to the Board of Governors with a major equity investor. The investor will likely be an ownership group formed by supermarket mogul Ron Burkle and 24 Hour Fitness founder Mark Mastrov.
Burkle and Mastrov have both expressed in buying the Kings, Burkle as early as 2011 when the Kings were slated to move to Anaheim.
Back to the trade, Aldrich and Douglas can be free agents this summer. Patterson makes $3.1 million next season, with a qualifying offer around $4.3 million for the 2014-15 season.
According to KTXL FOX40's Jim Crandell, the Kings weren't done trying to make deals an hour before trade deadline but the Kings didn't pull the trigger on any more trades. One rumored deal for the Kings was another money move involving the Golden State Warriors.
CBS Sports' Ken Berger reported that the Kings would take on a low salary player, likely Jeremy Tyler according to Yahoo! Sports' Marc Spears, and cash for helping the Warriors avoid the luxury tax. The Warriors are $1.3 million over the tax threshold and at the end, Spears said the deal was unlikely:
Barring last minute surprise, source says Warriors will not trade seldom-used F-C Jeremy Tyler or make any move. Kings had interest in Tyler.
ESPN's Marc Stein reported earlier that the Boston Celtics are looking to acquire Kings guard Tyreke Evans, but Sacramento Bee beat writer Jason Jones refuted that report, via Twitter:
Just told Tyreke Evans won't be dealt today by person familiar with the situation. Kings leave for ATL in about 90 minutes.
While the trade deadline drama is over, the Kings relocation to Seattle story is far from over and only one city can walk away with a smile.
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