Report: Maloofs to Sell Kings; Relocation to Seattle Is Planned

Published on 09-Jan-2013 by J Square Humboldt
Basketball - NBA / NBA Daily Update

Report: Maloofs to Sell Kings; Relocation to Seattle Is Planned

Yahoo! Sports says the Sacramento Kings are on the move.

To Seattle.

They're reporting that the Maloof brothers have all but given up on getting a new arena built in California's capital and their efforts to entice Virginia Beach to do the same have fallen through. So, they're offering the team for sale to a group led by hedge fund manager Chris Hansen and Microsoft honcho Steve Ballmer for the über-inflated price of $500million.

If the sale goes through and the move is approved, the Kings would become the revived Seattle Supersonics and begin play in 2013-2014 season at the Seattle Center's Key Arena, where they will stay until the new facility in the SoDo area has been built. (Its financing has already been approved by local authorities.)

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