According to a report by Yahoo Sports basketball analyst Adrian Wojnarowski, a deal is being finalized between Sacramento Kings owners the Maloof brothers and a Hansen-Ballmer led Seattle group.
The deal will sell the Kings for approximately $500 million.
The groups plans are for the team to play two seasons at Key Arena in downtown Seattle before moving into a new building. A relocation could occur as early as 2013-14.
Nothing is finalized, but Wojnarowski reports that a deal is very, very close.
The Maloof brothers would apparently keep a small portion (percentage-wise) of the team, but ultimately won’t have any say or input on moves made.
Kings center DeMarcus Cousins conveyed his shock on Twitter once the report was released.
There has been no NBA franchise in Seattle since 2008. That was the year team chairman Clay Bennett moved the team to Oklahoma City and renamed them the Thunder.
Obviously, if this move does become official (which it very much appears to be in the near future), it begs the question…..
We here at SCIC will have more on this breaking story as details unfold.