Skip to content

NBA office makes it official: Deal to sell Kings to Seattle group reached. Gavin Maloof makes statement.

Jan 21, 2013, 10:38 AM EDT

George Maloof, Gavin Maloof, Joe Maloof AP

We told you last night the deal was agreed to confirming a week of rumors that an agreement to sell the Sacramento Kings to a Seattle-based investment group led by Chris Hansen had been reached.

The NBA confirmed that Monday morning releasing a statement:

“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 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.”

Gavin Maloof, one of the Maloof family members that owns the team released a statement:

“We have always appreciated and treasured our ownership of the Kings and have had a great admiration for the fans and our team members.
We would also like thank Chris Hansen for his professionalism during our negotiation. Chris will be a great steward for the franchise.”

As Tom Ziller pointed out on twitter, nice job not mentioning Sacramento once, Maloofs.

Neither side is confirming the details of the deal, but we know that the franchise is valued at $525 million and the Hansen group is buying 65 percent ownership.

We’ve already detailed the future steps in this process.

Latest Posts
  1. Lakers sign Wayne Ellington, who played best for Byron Scott

    Sep 22, 2014, 8:30 PM EDT

    Minnesota Timberwolves v Los Angeles Lakers Minnesota Timberwolves v Los Angeles Lakers

    Ellington, who played for Scott with Cavaliers, received partially guaranteed contract

  2. Blake Griffin understands that Los Angeles is still a Lakers’ town

    Sep 22, 2014, 7:40 PM EDT

    Kobe Bryant, Blake Griffin AP

    It’s not going to change anytime soon, either.

  3. Report: Jazz to work out John Stockton’s son

    Sep 22, 2014, 6:44 PM EDT

    WCC Basketball Tournament - Championship - Brigham Young v Gonzaga Getty Images

    David Stockton, an undrafted free agent out of Gonzaga, also worked out for Thunder

  4. Bruce Bowen says blame for James Harden’s defense falls on McHale, Rockets

    Sep 22, 2014, 5:14 PM EDT

    Los Angeles Lakers v Houston Rockets Getty Images

    The Rockets’ defensive system is not the problem with James Harden.

  5. Jazz sign Dahntay Jones

    Sep 22, 2014, 4:41 PM EDT

    Los Angeles Lakers v Atlanta Hawks Getty Images

    Jones previously played for the Grizzlies, Kings, Nuggets, Pacers, Mavericks and Hawks

  6. Report: Darko Milicic leaving basketball, taking up kickboxing

    Sep 22, 2014, 4:00 PM EDT

    Minnesota Timberwovles 2010 NBA Europe LIve Minnesota Timberwovles 2010 NBA Europe LIve

    Former Pistons No. 2 draft pick putting some distance between himself and basketball

  7. Caldwell Jones dies at 64

    Sep 22, 2014, 2:45 PM EDT

    Portland Trailblazers vs. San Antonio Spurs Portland Trailblazers vs. San Antonio Spurs

    Jones – who played for the 76ers, Rockets, Bulls (during Michael Jordan’s rookie season), Trail Blazers and Spurs – helped shape Tim Duncan’s career

  8. Tyson Chandler: ‘I’m going to make’ Mavericks defend

    Sep 22, 2014, 2:04 PM EDT

    Tyson Chandler, Ricky Rubio Tyson Chandler, Ricky Rubio

    Chandler: ‘We are going to be a great defensive team’

  9. NBA to review domestic violence policies in wake of NFL’s ugliness. It shouldn’t have taken that.

    Sep 22, 2014, 1:29 PM EDT

    Adam Silver Adam Silver

    There were multiple NBA players arrested on domestic abuse charges last year. The spotlight on those cases will be different now.

  10. Nuggets sign forward Marcus Williams

    Sep 22, 2014, 12:50 PM EDT

    Arizona Wildcats v North Carolina Tar Heels Getty Images

    This is the Marcus Williams who played at Arizona, not Connecticut

  11. Cavaliers lift ban on fan who ran onto court with LeBron James shirt

    Sep 22, 2014, 12:11 PM EDT

    A Cleveland Cavaliers fan interrupts play during their NBA basketball game against Miami Heat in Cleveland Reuters

    James Blair can watch LeBron in person in Cleveland again

  12. Blake Griffin said he knew Donald Sterling was racist, wasn’t really surprised by tape

    Sep 22, 2014, 11:30 AM EDT

    Blake Griffin GQ

    “The first thing I ever Googled about the man, the first thing that popped up was “racist.” So I was aware. I hate to say this, and it might sound ignorant, but I wasn’t surprised that all this came up.”—Blake Griffin on Donald Sterling

  13. ProBasketballTalk 2014-15 Preview: Chicago Bulls

    Sep 22, 2014, 10:32 AM EDT

    Chicago Bulls v Washington Wizards - NBA Global Games Rio 2013 Getty Images

    A healthy D Rose could have the Bulls contending for a title.

  14. Miami to stick with small ball, including Danny Granger getting time at the four

    Sep 22, 2014, 9:31 AM EDT

    Golden State Warriors v Los Angeles Clippers - Game Two Getty Images

    LeBron is gone but Miami is still playing small, pressuring the ball.

  15. Report: Cavaliers signing A.J. Price

    Sep 22, 2014, 9:05 AM EDT

    Washington Wizards v Cleveland Cavaliers Washington Wizards v Cleveland Cavaliers

    Price will provide point guard depth – at least through training camp

Featured video

What players stood out at World Cup?
Top 10 NBA Player Searches
  1. R. Rondo (2936)
  2. E. Bledsoe (2853)
  3. K. Bryant (2448)
  4. L. James (2389)
  5. D. Rose (2059)
  1. R. Allen (1928)
  2. N. Young (1801)
  3. K. Irving (1637)
  4. J. Hickson (1633)
  5. B. Jennings (1631)