Are the Seattle people paying a premium for the Kings because of "want"? We're multi-billionaires and we want a team in Seattle and we'll pay a lot to get it?
That is almost surely a factor. The NBA has to approve sales (3/4 approval) because they carefully guard their membership. Relocations require approval as well (1/2 approval), but in the case of a relocation+sale, the 3/4 is dominant. So the 'goodwill' is extra important. It's not entirely billionaire will, since the bid is not unmatchable. The good will not only lines owners pockets and conveys serious interest in running a franchise well, it also provides a hedge against revenues lost due to relocation. On top of all this, there are relocation fees and money to settle debt to Sacramento. It's serious cash the Seattle group is lining up for dropping. This also weakens their position going forward. Bidding right is hard. At the moment, I think the NBA wants the Maloofs gone and will leave the team in Sacramento if they can and be rid of the Maloofs. This leaves Seattle to dangle over, say, five, other franchises. This will also allow them to get Se-We'll-Build-An-Arena-attle a chance to at least start the project while showing cities that building an Arena can help you leep a team just as the Sonics say you WILL lose one if you don't.