The NBA has received an official offer from 24 Hour Fitness founder Mark Mastrov and billionaire Ron Burkle to buy the Sacramento Kings and keep the team from moving to Seattle.
NBA spokesman Tim Frank confirmed the league received the bid Friday.
Sacramento Mayor Kevin Johnson had announced the Mastrov-Burkle bid during his State of the City address Thursday night. Johnson tweeted Friday: "The proposal is IN!! A proud day for Sacramento!!"
Mastrov is hoping to become the majority owner of the team. Burkle will lead the effort to build a new downtown arena that he hopes will lure back a WNBA franchise.
A Seattle group has a signed agreement to buy the Kings from the Maloof family. The NBA Board of Governors is expected to vote by mid-April on the bid.
If the league blocks the Seattle deal, the Maloofs would still have to agree to sell the team to any prospective buyers.
Receive your weekly recap of all the happenings around the world of sports.