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JonLP24

(29,322 posts)
Mon Jan 21, 2013, 04:22 PM Jan 2013

Sacramento Kings owner reaches agreement with Seattle group to buy team

The Maloof family that owns the Sacramento Kings has reached an agreement to sell the controlling interest in the franchise to a Seattle group intent on moving it in time for next season.

Sources told ESPN.com that NBA teams were formally notified Sunday night that the Kings have been valued at $525 million and that the Maloofs and a group led by hedge fund manager Chris Hansen have executed a purchase and sale agreement, which the NBA confirmed through a statement Monday morning.

The Seattle group intends to file for relocation by the league's March 1 deadline.

Although the sale still requires formal league approval, ownership transfers typically go through when they reach this phase.

http://espn.go.com/nba/story/_/id/8864092/sacramento-kings-owners-reach-agreement-seattle-group-buy-team

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Sacramento Kings owner reaches agreement with Seattle group to buy team (Original Post) JonLP24 Jan 2013 OP
I hate basketball, so couldn`t care less about the Sonics returning but.. opiate69 Jan 2013 #1
 

opiate69

(10,129 posts)
1. I hate basketball, so couldn`t care less about the Sonics returning but..
Mon Jan 21, 2013, 10:12 PM
Jan 2013

this means one very large step closer to getting an NHL team in the Emerald city!

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