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. Anonymous GM: If Brook Lopez wants to stay with Nets, ‘he should be able to get whatever he wants’

    Apr 28, 2015, 1:40 PM EDT

    Atlanta Hawks v Brooklyn Nets Getty Images

    Lopez has a player option for $16.7 million next season, but could opt out to re-sign a longer deal this summer — with Brooklyn, or with someone else.

  2. No Kevin Love, no J.R. Smith to start, how much trouble is Cleveland in?

    Apr 28, 2015, 12:30 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznpwzjymvhyzgwzgy5njixztvmzwrlzgzmymqxyza3ytg51 AP

    The second round of the Eastern Conference playoffs just got very, very interesting.

  3. Jarrett Jack fires back at Paul Pierce after Deron Williams’ breakout Game 4 performance

    Apr 28, 2015, 11:10 AM EDT

    Deron Williams, Paul Pierce AP

    Williams silenced his critics with a 35-point outing, and Jack had some words for Pierce afterward.

  4. Jason Kidd makes aggressive timeout call late in Bucks’ win over Bulls (VIDEO)

    Apr 28, 2015, 9:50 AM EDT

    Milwaukee Bucks v Chicago Bulls - Game Five Getty Images

    Kidd jumped up and down to make sure to get the timeout he wanted.

  5. PBT Extra: Rockets must adjust to new Mavericks starting lineup in Game 5

    Apr 28, 2015, 8:00 AM EDT

    Dirk Nowitzki, J.J. Barea Dirk Nowitzki, J.J. Barea

    Houston needs to make adjustments to the new Dallas starting lineup.

  6. Portland comes from 10 down in fourth quarter to win 99-92, stay alive in series

    Apr 28, 2015, 2:13 AM EDT

    Memphis Grizzlies v Portland Trail Blazers - Game Four Getty Images

    Without Mike Conley to check him Damian Lillard ran free.

  7. PBT Extra with NBASavant.com: Wizard’s defense peaking at right time

    Apr 27, 2015, 9:01 PM EDT

    Toronto Raptors v Washington Wizards - Game Four Toronto Raptors v Washington Wizards - Game Four

    Washington’s averaged defender distance to the Toronto shooter was 3.55 feet, the closest defense any team played in the first round of the playoffs.

  8. Report: Chandler Parsons to have knee surgery, could require microfracture surgery

    Apr 27, 2015, 7:58 PM EDT

    Dallas Mavericks v Houston Rockets- Game One Getty Images

    The doctor will decide if microfracture is needed while doing a scope.

  9. Cavaliers’ J.R. Smith gets two-game suspension for shot to Jae Crowder’s head

    Apr 27, 2015, 7:17 PM EDT

    Cleveland Cavaliers Vs. Boston Celtics At TD Garden Getty Images

    The Cavs will be without two starters for the first two games of next round.

  10. PBT Extra with NBASavant.com: Draymond Green helped hold Anthony Davis in relative check

    Apr 27, 2015, 6:59 PM EDT

    Golden State Warriors v New Orleans Pelicans - Game Four Getty Images

    Davis was +35 when playing while Green sat, -55 while Green was on the court at the same time.

  11. Cavaliers’ Kevin Love out for entire conference semifinals (likely vs. Bulls)

    Apr 27, 2015, 6:22 PM EDT

    Cleveland Cavaliers v Boston Celtics - Game Four Getty Images

    He would have been key against the Bulls to help space the floor.

Featured video

Boston defended LeBron well, it didn't matter
Top 10 NBA Player Searches
  1. R. Rondo (5142)
  2. C. Parsons (4071)
  3. K. Durant (3740)
  4. K. Love (3687)
  5. T. Parker (3558)
  1. K. Bryant (3552)
  2. M. Conley (3551)
  3. P. George (3347)
  4. D. Lee (3296)
  5. P. Beverley (3199)