UPDATE: Conflicting Reports On Sacramento Kings Relocation
(1090 The Fan) – Seattle investor Chris Hansen is reportedly nearing a deal to purchase the Sacramento Kings, according to Yahoo! Sports.
However, The Sacramento Bee has a conflicting report, suggesting that though both the Maloofs, who own the franchise, are in talks with Hansen, there is no deal on the table.
The $500 million deal Yahoo! reported on would put an NBA team in Seattle for the 2013-2014 season. Hansen’s plan is to play two seasons in KeyArena before moving into a new Seattle arena in SODO. With this deal, the Maloofs would keep an extremely small percentage of the team, but will have no real input or say in the franchose, sources said.
Yahoo! Sports Adrian Wojnarowski says once s sale is completed, the Seattle-based group will have until March to file for relocation. NBA commissioner David Stern has been a big proponent of Hansen and his group of investors (which includes Microsoft chairman Steve Ballmer), and league officials will work diligently to help the franchise move to Seattle if the sale is finalized, sources said. The Seattle-based group is determined to not have the franchise spend a final lame-duck season in Sacramento.
According to the Sacramento Bee, an anonymous source not authorized to speak publicly on the matter says the talks have been “conceptual.” Another source went on to say the online media report about a pending sale “is premature,” another source said. That person said the Seattle group has not made a formal offer to the Maloof family, owners of the Kings.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Sacramento and Yahoo! Sports contributed to this report.)