SACRAMENTO, Calif. — Billionaire Chris Hansen must pay $50,000 for his role in a secretive effort to funnel money to a group trying to thwart Sacramento’s efforts to build a new downtown arena, the California Fair Political Practices Commission said Monday.
The FPPC found that, just days after the NBA rejected Hansen’s $625 million bid to buy the Sacramento Kings and move them to Seattle, he gave $100,000 to a group leading an effort to thwart Sacramento’s efforts to keep the team.
The NBA has said that Sacramento must build a new arena to keep the Kings in town.
Hansen tried to buy the team earlier this year as city officials scrambled to find a buyer who would keep the franchise in Sacramento.
The FPPC said Hansen is being punished for failing to file a campaign statement. Hansen has agreed to the fine, and the commission will vote to make it official.
The hedge fund manager has apologized, saying he regretted his actions.