Found January 21, 2013 on
Pro Sports Daily:
The Sacramento Kings and the National Basketball Association announced on Monday that the sale of the team to a Seattle investment group has been finalized. It is now under league review for approval, which could take place in a few weeks. The Maloof family, which owns the Kings, confirmed the sale in a statement released on Monday. "The Maloof family announced today that an executed purchase and sale agreement has been reached to sell the family's interest in the National Basketball Association (NBA) Sacramento Kings to a group led by investor Chris Hansen," the statement said. "The transaction requires approval by the NBA's Board of Governors and therefore no comments or details regarding the agreement will be released. "We have always appreciated and treasured our ownership of the Kings and have had a great admiration for the fans and our team members. We would also like thank Chris Hansen for his professionalism during our negotiation. Chris ...
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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.
Sacramento Mayor Kevin Johnson had a stern warning for Seattle SuperSonics fans who are excited about the prospect of the NBA returning to the Puget Sound next season.
''Don't celebrate too early,'' he said.
In front of a cheering City Hall crowd filled with fans and public officials Tuesday, Johnson introduced the first part of his four-step plan to keep the...
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...
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:
“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...
I do not pretend to understand all the technical jargon of selling or relocating an NBA team, but from where I am sitting, it seems like the Sacramento Kings’ move to Seattle is going to happen.
The Maloof family has agreed to sell their majority ownership to a Seattle group led by Chris Hansen, who I recently found out is actually NOT the “To Catch a Predator” guy (just...
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.
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
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...
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...
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.