Sale Of Kings To Seattle Group Confirmed
The Sacramento Kings appear to be headed to Seattle. The NBA, the Maloof family that owns the Kings and the Seattle ownership group buying the team confirmed the sale Monday. The league issued a statement saying the proposed sale is now under review and is subject to approval of the NBA’s Board of Governors. If approved, the Kings are expected to relocate to Seattle’s Key Arena next season and be renamed the SuperSonics.
Seattle Mayor Mike McGinn is claiming a big win in the likely return of NBA basketball to Seattle, but there are reports that renovations and scheduling issues at Key Arena, plus lawsuits, may gum things up. ”Seattlepi.com” says KeyArena needs minor upgrades to become a temporary home for the Sacramento Kings as their new Seattle arena is built. Meanwhile, the new arena still faces two lawsuits over its location and whether its financing plan illegally uses public funds.
The Maloof family is releasing a statement about the sale of the Sacramento Kings to a Seattle investment group. Galvin Maloof says the family has always appreciated and treasured their ownership of the Kings and have had a great admiration for the fans and team members. The statement went on to thank the leader of the Seattle investment team, Chris Hansen, for his professionalism during the negotiations. Meanwhile, Sacramento Mayor Kevin Johnson released his own statement saying Sacramento has proven to be a strong NBA market by selling out 19 of 27 seasons in a Top 20 market and owning two of the longest sellout streaks in NBA history.