Report: Sacramento Kings Sold To Seattle Ownership Group

Mandatory Credit: Kelley L Cox-USA TODAY Sports

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 Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

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.

No agreement signed, but one source describes deal as “1st and goal at 1.” Maloofs history of changing course late still makes many uneasy.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

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.

Wow …

— demarcus cousins(@boogiecousins) January 9, 2013

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…..

Seattle Supersonics? 

We here at SCIC will have more on this breaking story as details unfold.

Chris Walder is the Lead Editor for Sir Charles in Charge. You may follow him on Twitter at @WalderSports