Kings To Seattle “Nearly Complete”
There are conflicting reports Tuesday on whether the Maloof family is finalizing an agreement to sell the Sacramento Kings to a Seattle-based group led by Chris Hansen and Steve Ballmer.
Yahoo! Sports’ Adrian Wojnarowski reported via Twitter that the deal is near.
According to Wojnarowski, the deal would be for approximately $500 million and seek to relocate the franchise to Key Arena for the 2013-14 season. The team would then play at Key Arena for two seasons and then transition into a new Seattle Arena.
“No agreement signed, but one source describes deal as ’1st and goal at 1.’ Maloofs’ history of changing course late still makes many uneasy,” Wojnarowski reports.