The Maloof family is reportedly threatening not to sell the Kings to the group that wants to keep the team in Sacramento.
The Sacramento Bee reported Saturday that the Maloofs have made a backup deal to sell a minority share of the Kings to Seattle investors Chris Hansen and Steve Ballmer in case the owners reject the bid to move the team to Seattle.
ESPN.com, which broke the story, said the Maloofs would sell 20 percent of the team to Hansen and Ballmer for $125 million. The plan would allow the Maloofs to continue to operate the franchise.
In addition, the new proposal includes a relocation fee of $115 million.
The NBA Board of Governors is expected to decide on the Kings' fate next week at a meeting in Dallas.
Seattle lost its NBA franchise to Oklahoma City in 2008.
Receive your weekly recap of all the happenings around the world of sports.