via ESPN.com:
The Maloof family has officially reached a deal to sell the Sacramento Kings to a Seattle-based investment group, according to ESPN. The Seattle group, headed by Valiant Capital’s Chris Hansen and Microsoft CEO Steve Ballmer, will purchase 65 percent of the Kings, a controlling interest, from the Maloofs for $525 million and that NBA teams were “formally notified” of the purchase agreement’s terms on Sunday.65% of the Kings share was sold to the Seattle group for $525 million. The Seattle group will apply for relocation to Seattle in time for the 2013-14 season.
The Maloof family that owns the Sacramento Kings has reached a purchase agreement to sell a 65 percent controlling interest in the franchise to a Seattle group led by Chris Hansen for $525 million, according to league sources. Sources told ESPN.com that NBA teams were formally notified Sunday night of the deal, which still requires league approval. The executed purchase agreement to transfer the 65 percent maj...
Found January 21, 2013 on
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LeBron blasts proposed Kings sale
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James took to Twitter to express his dismay over the proposed sale of the Sacramento Kings for a whopping $525 million and to ask why the lockout was necessary.
ENTER THE 206
Report: Kings sell to Seattle group
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The Sacramento Kings majority owners reportedly have sold the their stake to a group that will move the team to Seattle.
Kings’ Move to Seattle Further Evidence That NBA’s Backing of Smaller Media Markets Only Goes So Far
Via NESN.com
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January 21, 2013
On a practical level, there is really no problem with the NBA allowing the sale of the Sacramento Kings to an ownership group that will move the team to Seattle as soon as next season. The “new” Sonics would restore the NBA’s footprint in the largest U.S. media market without a professional basketball franchise and puts the organization in the hands of competent owners with...
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NBA, Chris Hansen Release Statements On Proposed Kings Sale To Seattle
Via Beyond The Buzzer
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January 21, 2013
Following Sunday night’s reports of the Maloofs proposed sale of the Kings to Seattle’s Chris Hansen and Steve Ballmer, both the NBA and Chris Hansen released statements Monday morning:
NBA:
“The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher...
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January 21, 2013
Kings moving to Seattle - could Larry Bird be going with them?
Via Celtics Life
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January 21, 2013
Interesting story evolving out of the Kings/Sonics melodrama today. As I'm sure most of you have heard by now, the Kings are reportedly leaving Sacramento for Seattle after their impending sale. The city of Seattle owns the naming rights to the 'Sonics', so after a five year hiatus - the Sonics of Payton, Kemp and my main man Detlef Schrempf are returning.
However...
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January 21, 2013
Sacramento Kings Agree to Sale to Seattle Group Pending Approval of NBA Owners
Via NESN.com
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January 21, 2013
The only thing stopping the Sacramento Kings from a sale and move to Seattle is approval by NBA owners.
The Maloof family has agreed to sell the Kings to a Seattle group led by investor Chris Hansen, two people familiar with the decision said Sunday night. The people spoke to The Associated Press on condition of anonymity because the deal is still pending approval from the NBA Board...
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January 21, 2013
Maloofs Agree to Sell Sacramento Kings to Seattle Group for $525 Million
Via BlackSportsOnline
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January 20, 2013
Looks like Seattle will be getting a NBA team sooner than later.
Just going online now: Maloofs have struck deal to sell 65 percent of Kings to Chris Hansen group in Seattle for $525 million, sources say
— Marc Stein (@ESPNSteinLine) January 21, 2013
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January 20, 2013
Kings 97, Bobcats 93
Marcus Thornton scored 18 points off the bench, Tyreke Evans came up big down the stretch, and the Sacramento Kings held on to beat the Charlotte Bobcats 97-93 Saturday night for their third win in four games.
After scoring just 69 points in a 16-point loss to Memphis a night earlier, the Kings made sure there would be not be another offensive letdown.
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Seattle SuperSonics’ Reported Return Brings Back Memories of Shawn Kemp, Gary Payton, Other NBA Greats (Photos)
Via NESN.com
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The Sonics are back — almost.
Seattle took a major step toward securing a new NBA team when the Maloof family finalized a deal Sunday to sell the Sacramento Kings. The new ownership group, led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer, reportedly plans to move the team to Seattle and rename it the SuperSonics at the end of this season.
The move has hit...
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January 21, 2013
Bobcats run out of gas against Kings
CHARLOTTE, N.C. (AP) -- Marcus Thornton scored 18 points off the bench, Tyreke Evans came up big down the stretch, and the Sacramento Kings held on to beat the Charlotte Bobcats 97-93 Saturday night for their third win in four games.
After scoring just 69 points in a 16-point loss to Memphis a night earlier, the Kings made sure there would be not be another offensive letdown.
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Kings bounce back with win over Bobcats
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CHARLOTTE, N.C. -- The Sacramento Kings felt humiliated in a loss at Memphis on Friday night, when they were held to a season-low 68 points. So on Saturday night, the Kings did something about it. They bounced back with a 97-93 victory over Charlotte, handing the hapless Bobcats their 14th straight loss at Time Warner Cable Arena. The Kings led by as many as 10 in the first...
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January 19, 2013
Report: Maloofs agree to sell Kings
Two people familiar with the decision says the Maloof family has
agreed to sell the Sacramento Kings to a Seattle group led by
investor Chris Hansen.
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