Woj: Maloofs finalizing sale to Seattle group

[jonathanlambert33]

UPDATE TO OP:

Per Adrian Wojnarowski:

The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

The deal will sell the Kings for approximately $500 million, with the Seattle group seeking relocation to Key Arena for the 2013-'14 season.

No agreement signed, but one source describes deal as "1st and goal at 1." Maloofs history of changing course late still makes many uneasy.

 

[jonathanlambert33]

@206sportsguy: There is a rumor going around that the Maloofs sold the #Kings to #Seattle owners..... which would mean the #Sonics are coming back!

@sonicsman: UNCONFIRMED reports saying Maloofs have sold #NBAKings to Seattle investor Chris Hansen. More 2 come!

@PaulNovakSSC: Rumors coming from @ArenaSeattle that the Maloofs have sold the Kings to Seattle. Could be what Mayor McGinn's press conference is about.

The rumors are that the Kings sale to Hansen group was done 9 days ago. Announcement will happen after Seahawks season is done. #Sonics

 

[buzzy]

they wouldn't name them Sonics, would they?



edit:
http://www.sacbee.com/2013/01/09/5102688/kings-decline-comment-on-rumored.html#mi_rss=Kings/NBA

 

[SaintFan25]

Yes! Hopefully this is true.

 

[Pugz]

good. they sucked as owners and at this point shouldve had the team taken from them.


SAVE OUR SONICS

 

[jonathanlambert33]

Adrian Wojnarowski ‏@WojYahooNBA
The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

and there it is, if Woj is reporting it it's likely true. I heard 500M?

 

[RipCity32]

They better name them the Sonics lol.

 

[jonathanlambert33]

Updated post #1

 

[Mexi]

bitter sweet

glad Seattle is getting their team, but now Sacramento fans will feel what Seattle fans felt
i lived in Sacramento for a year. they freaking love the kings. im kinda sad

but with that said, im banwagoning the Sonics next year. you already know i love DeMarcus. i always had a soft spot for the supersonics anyways

 

[Mexi]

oh good, a snag

stevelarge_cbs13 ‏@largesteven
Source: Seattle groups offer was rejected by Maloofs. Hmmm. Plot thickening by the minute.

 

[Pugz]

i read the maloofs would likely back out last minute too.

 

[bestkeptsecret13]

Losing the Kings would be just as bad as losing the Sonics was.

 

[jonathanlambert33]

How much in debt do the Maloofs have?

 

[ZigZag]

How many times have we heard about the Maloofs finalizing a deal? Not saying it's not possible that the sale will happen, just taking what I hear with a grain of salt.

And to answer nola's question:

The team is reportedly in debt $205 million

 

[jonathanlambert33]

Couldn't the NBA just vote the Maloofs out?

 

[Pugz]

The NBA issued a memorandum to its owners on Wednesday not to comment on the possible sale of the Sacramento Kings, according to two sources.

The memo did not offer owners any details on the state of negotiations.

Yahoo! Sports reported on Wednesday that the Maloofs were close to a deal to sell the Kings for $500 million to a group from Seattle.

 

[LakeShow]

good for the city of Seattle. now there is only one team in cali that are kings.

 

[Pugz]

good for the city of Seattle. now there is only one team in cali that are kings.

hockey doesnt count.

 

[LakeShow]

hockey doesnt count.

I like hockey though? Kings won the cup too.

 

[jonathanlambert33]

This will probably go back and forth like ten times before something is resolved.