Sale of Kings to Seattle group announced

The NBA’s return to Seattle now appears imminent. Chris Hansen, who is heading up the investment group trying to bring the NBA back to Seattle, the Maloof family, owners of the Sacramento Kings, and the NBA have all announced that a sales agreement has been reached to sell the Kings to Hansen’s group.

The sale still has to be approved by the league’s Board of Governors, but if that approval happens, all signs point to the NBA returning to Seattle for the 2013-2014 season. If that were to happen, the Sonics would call KeyArena home for two seasons while Hansen’s new SoDo arena is built just south of Safeco Field.

“We are happy to announce that we have entered into a binding agreement with the Maloofs to purchase a controlling interest in the Sacramento Kings NBA franchise,” Hansen said in a statement. “The sale is obviously subject to approval by the NBA Board of Governors, and we look forward to working with the League in the coming months to consummate the transaction.

“While we are not at liberty to discuss the terms of the transaction or our plans for the franchise given the confidential nature of the agreement and NBA regulations regarding public comments during a pending transaction, we would just like to extend our sincerest compliments and gratitude toward the Maloof family. Our negotiations with the family were handled with the utmost honor and professionalism and we hope to continue their legacy and be great stewards of this NBA franchise in the coming years and decades.”

Here is the statement from the NBA: “The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen. The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board’s committee process for review.”

And a statement from the Maloofs: “We have always appreciated and treasured our ownership of the Kings and have had a great admiration for the fans and our team members. We would also like to thank Chris Hansen for his professionalism during our negotiation. Chris will be a great steward for the franchise.”

More in Sports

Local orienteering league sends kids racing into the woods

Competitors use only a map and a compass to navigate through remote terrain toward checkpoints.

How Lake Stevens’ Walles rediscovered his love for swimming

Helping teammates improve has reignited the senior’s passion in the pool.

High school swimming: Five storylines to watch this season

Jackson and Kamiak both appear poised to make waves this winter

Carroll critical of Seahawks after ugly end to Sunday’s game

Seattle coach: ‘We don’t want to look like that. Ever.’

Video: An introduction to competitive orienteering

Several Snohomish County high schools compete in the Washington Interscholastic Orienteering League.

BLOG: Carter Hart named WHL Goalie of the Week (yes, again)

Carter Hart has been named the WHL Goaltender of the Week for… Continue reading

Monday’s prep results, with links to recaps

Here are Monday’s prep scores, with links to recaps: BOYS BASKETBALL Northwest… Continue reading

Community roundup: Local runners help win a national title

Club Northwest won the Men’s Masters division at the USATF National Club Cross Country Championships

WSU defensive lineman voted a first-team All-American

Washington’s Pettis and WSU’s O’Connell make the second team; UW’s Vea earns a spot on the third team

Most Read