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

Lacey Ramon races through laps Sunday afternoon during practice at Rat’s Nest in Shoreline on March 18, 2018. (Kevin Clark / The Daily Herald)
Local woman helps U.S. roller derby team win World Cup gold

Lacey Ramon of Lake Stevens traveled to Europe to compete against the world’s best.

Who are the top 15 Everett Silvertips of all-time?

Herald columnist Nick Patterson makes his choices

Monday’s prep results

Baseball Non-conference A. Murphy 14, Interlake 7 Cascade conference Cedar Pak Christian… Continue reading

Prep golf preview: South Whidbey’s Heggenes aiming at state title

There’s no doubt that Kolby Heggenes is a talented athlete; her achievements… Continue reading

Prep golf preview: 5 storylines to watch

Here are five storylines to watch from the prep golf scene this… Continue reading

Saint Mary’s beats UW men 85-81

The Huskies’ season ends at 21-13.

Best of the Mariners poll, part eight: Left fielders

Cast your vote for the best-ever season by a Seattle Mariners left fielder.

Seahawks acquire cornerback Smith for conditional draft pick

Seattle also extended the contract of center Justin Britt.

Prep athletes of the week for 3-12-3/17

Boys soccer Bobby Stoyanov, Mountlake Terrace Stoyanov, a senior, scored seven goals… Continue reading

Most Read