League to review Kings sale to Seattle group
The NBA will review the agreement for the sale of the Sacramento Kings to an investor group that reportedly plans to relocate the club to Seattle.
The NBA confirmed on Monday that Kings owners the Maloof brothers have reached an agreement with a group headed by Christopher Hansen, although the league didn't address multiple reports from Sunday that said the new owners would move the club.
"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 NBA said in a statement. "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."
Seattle has been without an NBA team since the SuperSonics relocated to Oklahoma City following the 2007-08 campaign. They have since been re-named the Oklahoma City Thunder.
The SuperSonics were an expansion club in the 1967-68 season.
The Kings have made their home in several cities since they were founded in 1948-49.
The franchise began as the Rochester Royals until 1956-57, were based in Cincinnati through 1971-72 and were the KC-Omaha Kings before moving to Sacramento for the start of the 1985-86 season.
The Maloof family, dissatisfied with the team's facilities in Sacramento, had explored moving the club before.
Last February an agreement with the city council to build a $391 million arena was announced, but that fell through.
Sacramento mayor Kevin Johnson, a former NBA player who has worked to keep the club in town, is reportedly seeking a group to buy the Kings and keep them in Sacramento.