SACRAMENTO, Calif. (AP) — Billionaire Chris Hansen must pay the California Fair Political Practices Commission $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.
Hansen gave $100,000 to a group gathering signatures to force a vote on the city’s plan to help build a new home for the Sacramento Kings. It came just days after the NBA rejected his $625 million bid to buy the team and move it to Seattle.
The FPPC said Monday that Hansen is being punished for failing to file a campaign statement.
The hedge fund manager has apologized.
He tried to buy the team earlier this year as city officials scrambled to find a buyer who would keep the franchise in Sacramento.
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