The Sacramento Kings’ unsteady future finally seems to be settled. A person familiar with the deal says the Maloof family has reached an agreement with a Sacramento group to sell a 65 percent controlling interest in the Kings at a total franchise valuation of $535 million.
If the NBA doesn’t approve the relocation of the Sacramento Kings to Seattle, the Maloofs will reportedly refuse to sell the team to Sacramento-area investors.
A committee of NBA owners voted unanimously Monday to deny the application of the Sacramento Kings to move to Seattle.
According to Yahoo Sports, the NBA is leaning hard on the Maloof family to sell the Sacramento Kings so that the new owners can relocate that franchise to Seattle.