Maloofs close to selling the Sacramento Kings to group in SeattlePosted by Inside Hoops
Years after losing the SuperSonics to Oklahoma City, Seattle may be getting an NBA team back.
According to Adrian Wojnarowski of Yahoo Sports via Twitter, “the Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports. The deal will sell the Kings for approximately $500 million, with the Seattle group seeking relocation to Key Arena for the 2013-’14 season. The Seattle group’s plans, with support of the NBA, is to play two seasons in Key Arena before moving into a new Seattle arena, sources say. The Maloofs are expected to keep an extremely small percentage of team, but will have no real input or say in franchise, sources say.”
More coming shortly.