Adrian Wojnarowski of Yahoo Sports is reporting that the Maloof family has agreed to sell the Sacramento Kings to a Seattle ownership group led by Microsoft CEO Steve Ballmer and hedge-fund manager Chris Hansen.
Here are the details from Wojnarowski:
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, with the Seattle group seeking relocation to Key Arena for the 2013-’14 season.
— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013
The Seattle group’s plans, with support of the NBA, is to play two seasons in Key Arena before moving into a new Seattle arena, sources say.
— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013
And of course, a word of caution because these are the Maloofs we’re talking about.
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
