Originally written on Next Impulse Sports  |  Last updated 1/21/13
NBA owners were notified Sunday of a deal that would transfer control of the Sacramento Kings from the Maloof family to a Seattle-based ownership group led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer. The potential deal involves a selling a 65% controlling share of the franchise – 53% is the Maloof’s, 12% is minority owner Bob Hernreich’s — to Hansen’s group, which, based on a total valuation of $525 million, comes out to roughly $341 million. This news comes nearly two weeks after Yahoo’s Adrian Wojnarowski reported of an impending agreement between the two parties, which sent Sacramento Mayor Kevin Johnson scrambling to cobble together a team of Sacramento-area investors in an effort to present a counter offer to the league. NBA Commissioner David Stern went on record last week confirming the league would entertain such an offer from Johnson and his team. Any sale must be approved by the NBA Board of Governors, and any relocation by the Relocation Committee, which is headed by none other than Thunder owner Clay Bennett — because this situation was just screaming for more irony. [ESPN]   Article found on: Cosby Sweaters
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