The Maloof family, owners of the Sacramento Kings, have entered into negotiations with the intention to sell the Kings to a group which intends to move the franchise to Seattle.
“The deal will sell the Kings for approximately $500 million to a group led by hedge-fund manager Chris Hansen and Microsoft chairman Steve Ballmer. The group is seeking to relocate the franchise to Seattle’s Key Arena for the 2013-14 season.”
According to Wojnarowski, the potential new owners would intend to move the team to Seattle for the 2013-14 season, hosting the team in Key Arena for two seasons. After that the team would move to a new arena.
No deal has yet been signed and the Maloof’s have a history of being tough to negotiate with, so it is by all means not a done deal just yet. Even so, it does seem as though basketball fans in Seattle could once again have the joy of hosting an NBA franchise, since the Seattle SuperSonics relocated to Oklahoma City in 2008.
Could this be the return of the Seattle SuperSonics, or would the new team name be Seattle Kings?
Stay tuned to KJG as we continue to track these negotiations.
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Tags: Sacramento Kings