Seattle Investment Group Is Reportedly Buying Sacramento Kings
Yahoo! sports reporter and NBA pundit Adrian Wojnarowski tweeted the following earlier today: "The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports."
He also noted that the group intends to relocate the franchise to Seattle. When the Supersonics left Seattle after the 2007-2008 season to become the Oklahoma City Thunder, the city of Seattle retained the rights to the name Supersonics, much like the way Cleveland retained the rights to the Browns after the franchise left to become the Baltimore Ravens.
Two years ago, the Kings were rumored to be leaving Sacramento for Anaheim.
While the Maloofs have not addressed the report, Eric Rose (a representatitve of the Maloffs) tweeted the following: "As we have said for nearly a year, we will not comment on rumors or speculation about the Sacramento Kings franchise."
The rumored sale is believed to be in the whereabouts of $500 million. Last year, Forbes.com valued the Kings franchise at $300 million.
The Kings are currently 13-22, 4th in the Pacific division of the Western Conference.