Very recently, it was reported that the Maloof family were in talks for a potential sale of the Sacramento Kings to a Seattle group. It seems like the deal will be going through.
According to sources of NBA analyst, Matt Steinmetz, it is a done deal:
I’ve heard from reliable source that the Kings’ sale to Hansen-Ballmer in Seattle is done deal. Source said price sulia.com/my_thoughts/98…
— Matt Steinmetz (@MSteinmetzCSN) January 11, 2013
Steinmetz says that, according to his source, the price tag is a hefty $525 million, and will completely buy out the Maloofs, leaving them with no input or decision-making with the team.
The sale is not official just yet, as neither group nor the NBA have confirmed it.
If the sale does go through, the team would be moving to Seattle, leaving Sacramento without an NBA franchise. A lot of Sacramento fans have been frustrated with the way the Maloofs have run the team, failing to build a new arena in the city.
This is very disappointing news to Sacramento fans, who have all the right in the world to feel cheated and robbed of their beloved Kings. Meanwhile, basketball fans in Seattle are cautiously optimistic about a possible return of the Seattle SuperSonics.
Stay tuned to KJG as we continue to track this story.
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