Monday, August 19th, 2013 at 9:40 am  |  4 responses

Chris Hansen Apologizes for Funding Anti-Arena Drive in Sacramento

A month after losing out on buying the Kings, Seattle businessman Chris Hansen paid $100,000 to block a new arena deal for Sacramento’s basketball team. After being exposed, Hansen apologized on his website: “I made a mistake I regret. When our binding agreement to purchase the Sacramento Kings became a competitive situation and we were faced with both the prospect of seeing our transaction fail and losing our $30 million deposit, I engaged Loeb & Loeb to canvas the various opposition groups to gain an understanding of their efforts and the prospects of their success. During this time I was approached through Loeb by the opposition about making a contribution to the opposition’s efforts as part of a broader group and agreed to make a donation. [...] While I’m sure everyone can appreciate how easy it is to get caught up the heat of battle, with the benefit of hindsight, this is clearly a decision I regret. I wish the city of Sacramento and Kings fans the best in their efforts and they have my commitment not to have any involvement in their arena efforts in the future.”

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  • Dfrance

    Soooo disappointed this wasn’t about the TCAP dude.

  • RunNGun

    30M and another 100K on top of that. That amount of money could solve many of the problems in our education system.

  • jimbo

    Wait a sec, y on earth wud he lose a $30m deposit??? that makes no sense to me. If it was stipulated in the contract, then why the heck did he sign it (+thus agree to it)??

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