The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.
1. For months rumors about the Sacramento Kings’ owners, the Maloofs, being on the verge of selling the Sacramento Kings have been floating around. Now, according to Yahoo’s Adrian Wojnarowski, it looks like it’s finally happening.
Which means basketball could be returning to Seattle.
This is huge. In 2006, the SuperSonics, who had played in the city since 1967, were sold to an Oklahoma City-based ownership group, which relocated the team to OKC in 2008 and rechristened them the Thunder. Since then, the city has been without an NBA team, though that will change next season.
There’s no word yet on whether the future Seattle team will remain the Kings, assume the SuperSonics mantle, or go by a new name entirely. The move also means that Sacramento — whose mayor, Kevin Johnson, is a former NBA player himself — will no longer possess a professional sports franchise.
There have been rumors flying for a long time about where the team could go — including a weirdly complicated but false rumor about Virginia Beach in August — but this appears to be the real deal.
It should also be noted that the $500 million sale price is a full $150 million more than what the SuperSonics were sold for in 2006. The NBA is doing quite well right now.