ESPN reports that the ownership group led by Chris Hansen and Steven Ballmer have cut a backup deal with the Maloof family in case the NBA rejects their offer to purchase the Maloof's 65 percent stake in the Sacramento Kings outright. Under the terms of this deal, the Seattle group would purchase 20 percent of the team for $125 million, leaving a controlling 45 percent interest still in the hands of the Maloofs. Or more importantly, not in the hands of the bidders seeking to keep the team in Sacramento.

Hansen and Ballmer would also offer the league a $115 million relocation fee—about $4 million per existing owner—in exchange for the right to move the team to Seattle. By comparison, Clay Bennett's ownership group only paid the league $30 million for the right to relocate the Sonics from Seattle to Oklahoma City.

Very clever. As I mentioned yesterday, the whole last minute effort to keep the Kings in Sacramento was contingent on the prospective new local owners and the city cutting a deal to build a new arena. But if the Maloofs refuse to sell, there are no new owners. And if there are no new owners, there is no arena deal.

It's a maneuver that would put the league between a rock and soft place. The rock being the prospect of forcing the money-losing Kings to continue playing their games in Sacramento's aging Sleep Train Arena. The soft place is the prospect of a payout of $4 million to each NBA owner.