That was April 2012. This is May 2012, from the Las Vegas Review-Journal:

And …

The main thrust of this whole thing is that the developer, Milam, worked to convince the city of Henderson, Nev. — a Vegas suburb — to endorse a land purchase by Milam from the federal Bureau of Land Management. An arena and commercial development would go there. The deal eventually fell apart, making city officials think that it was all a scam to get the city's stamp of approval on the land acquisition. Instead, Milam says that they weren't able to land the Kings, which killed Chinese financing for the development deal. It's all a big mess, and it's someone else's problem.

But the Maloofs were meeting with Henderson officials in addition to Virginia Beach officials and quite possible the Seattle folks. While telling us otherwise and ignoring real, valid local offers to buy the team.

Cowards. Liars. Maloofs.