Report: Maloofs selling Kings to Seattle group
by USA TODAY Sports, USA TODAY
The Maloofs, owners of the Sacramento Kings, are finalizing a deal to move the team to Seattle, according to a report on Yahoo! Sports.
The report says team would sold for $500 million to hedge fund manager Chris Henson and Microsoft chairman Steve Ballmer and play in Seattle’s Key Arena, as early as next season, before a new arena is built. The team would play at Key Arena for two seasons.
No agreement has been signed, the report says, and if and when it is, the Maloofs would own a small percentage of the team but have no input.
Seattle has been without an NBA franchise since the SuperSonics left following the 2007-08 season. They now play as the Thunder in Oklahoma City.