Report: Maloofs Close to Selling Kings to Seattle Ownership Group

1/9/13 in NBA   |   aaronjchung   |   264 respect

Blog Photo - Report:  Maloofs Close to Selling Kings to Seattle Ownership Group
 
The Maloofs may be close to selling the Sacramento Kings to an ownership group in Seattle led by Chris Hansen and Steve Ballmer.  The asking price is for approximately $500 million.  Hansen and Ballmer also plan on building a new arena in Seattle by the 2015-2016 season for about $500 million as well. 
 
In the meantime, the newly acquired team may be playing in the old Key Arena where the Seattle Supersonics used to play. The Maloofs also may maintain a small share with the team, but the majority of the share will belong to the Seattle based ownership. The deal has not been finalized yet, but the deal seems to be pretty imminent. 
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