February 04, 2013 12:00 AM

Hedge fund manager trying to bring NBA back to Seattle

Christine Williamson

Marc Lasry

The owners of the New York Mets sold a $20 million stake to Steve Cohen of SAC Capital after the team experienced financial troubles associated with the Madoff case. Mr. Cohen reportedly is interested in a larger stake.

Stephen Pagliuca, a managing partner at Bain Capital, is one of two money managers that are lead owners in the Boston Celtics of the NBA. The other co-owner is Wycliffe "Wyc" Grousbeck, a former partner at venture capital firm Highland Capital Partners.

Joseph Lacob, a partner at venture capital firm Kleiner Perkins Caufield & Byers, is the majority owner of the National Basketball Association's Golden State Warriors.

Ted Leonsis, the owner of the NHL's Washington Capitals and the NBA's Washington Wizards, is also a venture capitalist at Revolution LLC.

While Paul Allen (left) is best known for co-founding Microsoft with Bill Gates (right), he also is a venture capital and private equity fund manager via Vulcan Inc., not to mention the owner of the NBA's Portland Trail Blazers and the NFL's Seattle Seahawks.

Mark Attanasio (center in gray shirt), the principal owner of the Milwaukee Brewers of Major League Baseball, is also a director of the TCW Group.

John William Henry II, the founder of commodities manager John W. Henry & Company, is better known as the principal owner of the Boston Red Sox and Liverpool F.C., and co-owner of NASCAR team Roush Fenway Racing.

Before Randy Lerner became the principal owner of the Cleveland Browns of the National Football League, he was co-founder of money manager Securities Advisors Inc. In 2006, he also became chairman of Aston Villa Football Club of the Premier League.

Crain's Chicago

Mark Walter, CEO of asset manager Guggenheim Partners LLC

Hedge fund manager Christopher R. Hansen is closer to achieving his dream of bringing NBA basketball back to his hometown, Seattle, which lost the SuperSonics to Oklahoma City in 2008.

Mr. Hansen led an investor group that bought the Sacramento Kings for a reported $525 million, a National Basketball Association record.

“We've entered a binding agreement with the Maloof (family) to purchase a controlling interest of the Sacramento Kings,” Mr. Hansen said in a statement.

Mr. Hansen said he couldn't discuss details of the sale “or our plans for the franchise.” Sources said the team's move to Seattle should be in time for the 2013-2014 season. The NBA said it had received the sale agreement, which must be approved by its board of governors. That might take several months.

The team likely will be renamed the Seattle SuperSonics and will play at the city's existing KeyArena until Mr. Hansen and his group have a new arena built. The Seattle City Council has already approved the new arena.

Mr. Hansen is the founder and president of Valiant Capital Management LP, San Francisco, which manages about $3.3 billion in hedge fund strategies, according to its latest ADV filing with the Securities and Exchange Commission.

“We have always appreciated and treasured our ownership of the Kings. Chris will be a great steward for the franchise,” co-owner Gavin Maloof said in a statement. The Maloof family has owned the Kings since 1999.