Though it appeared to be a certainty that the Kings would move from Sacramento to Anaheim, the city was awarded an extra year to hold onto the team. There was a check list of items the NBA advised the city to fulfill in order to keep the franchise long-term, and the most important requirement was to build a new arena. It will be difficult for the cash-strapped current owners, the Maloofs, to hang on to the team, so there is room for new ownership. One potential group of owners is led by Chris Webber and would be backed by Filipino businessman Manny V. Pangilinan, according to the Inquirer.
The Inquirer, which is a Filipino news source, says “Webber met with Pangilinan, chair of the Philippine Long Distance Telephone Company—among other firms—during a recent trip to Sacramento, where he visited the Kings’ home stadium, the Arco Arena.”