Sale of Sacramento Kings to Chris Hansen's group officially announced
Sale of Sacramento Kings to Chris Hansen's group officially announced
A group led by Chris Hansen will buy the Kings and move the team to Seattle, starting play next season.
Chris Hansen smiles as he speaks to supporters of a new Sodo sports arena during a rally last June. The Maloof family has agreed to sell the Kings to a group led by Hansen. The deal is still pending a vote by the NBA Board of Governors.
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A group led by Chris Hansen will buy the Kings and move the team to Seattle, starting play next season.
Chris Hansen smiles as he speaks to supporters of a new Sodo sports arena during a rally last June. The Maloof family has agreed to sell the Kings to a group led by Hansen. The deal is still pending a vote by the NBA Board of Governors.
A sale of the Sacramento Kings to a group that will move them to Seattle was announced Monday morning.
Both the current majority owners of the team, the Maloof family, and the leader of the Seattle group, Chris Hansen, released statements confirming the sale.
"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," the Hansen statement read. "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."
Varying reports stated the team was purchased for roughly $340 million, representing a 65 percent share of the franchise's assessed value of $525 million.
If approval comes from the NBA Board of Governors, the team could play in Seattle's KeyArena next season.
Both the current majority owners of the team, the Maloof family, and the leader of the Seattle group, Chris Hansen, released statements confirming the sale.
"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," the Hansen statement read. "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."
Varying reports stated the team was purchased for roughly $340 million, representing a 65 percent share of the franchise's assessed value of $525 million.
If approval comes from the NBA Board of Governors, the team could play in Seattle's KeyArena next season.
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