Sources close to the negotiations say Davidson's agent, Citibank, told the current bidders about the mid-February timeline, saying it would like to have a deal in place by then, for approval by the league.
Meanwhile, as negotiations proceed haltingly, sources close to the process and observers of the NBA say there have been no new bidders since an exclusive, 30-day negotiating period between Davidson and Ilitch Holdings Inc., failed to yield an agreement last month.
For Davidson and Citibank to realize something in excess of $400 million in the sale, they might either have to wait until the economy rebounds or push the purchase among foreign interests, including in the Middle East, India and even China, where the NBA is intent on expanding its business, observers say. If they choose either course, unless a current bidder increases a bid, the sale may take longer than February.
from the Detroit News