NBA office makes it official: Deal to sell Kings to Seattle group reached. Gavin Maloof makes statement.
Jan 21, 2013, 10:38 AM EDT
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.
Sep 2, 2014, 12:00 AM EDT
Miami reportedly most interested in Emeka Okafor
Sep 1, 2014, 10:30 PM EDT
“I’m feeling good right now. Just trying to get in better shape, get in better condition, so that when I do need to score the ball, then it’ll be there.” —Derrick Rose
Sep 1, 2014, 9:00 PM EDT
Halle Berry is officially married still, for the record.
Sep 1, 2014, 7:30 PM EDT
Ellington, acquired in trade from Knicks, likely stretched
Sep 1, 2014, 6:00 PM EDT
Former Wizard provides depth at small forward following Paul George’s injury
Sep 1, 2014, 4:30 PM EDT
“If you were at our practices and our training camp, anybody that was there, they would see why I made the team.” —Mason Plumlee
Sep 1, 2014, 3:00 PM EDT
Elephant dunks a basketball.
Sep 1, 2014, 1:31 PM EDT
This makes more sense, but he could get moved near the deadline.
Sep 1, 2014, 11:59 AM EDT
This would be a solid pickup for the bench, especially at the league minimum.
Sep 1, 2014, 11:00 AM EDT
Ron Rothstein and Bob McAdoo lose bench spots, could stay with Miami
Sep 1, 2014, 10:00 AM EDT
This is a win for Jay-Z’s Roc Nation.
Sep 1, 2014, 9:00 AM EDT
Harden’s reputation on the defensive end of the floor continues to grow.
Sep 1, 2014, 8:00 AM EDT
Whether he asked out or not doesn’t really change his situation much.
Sep 1, 2014, 12:30 AM EDT
Blatche being Blatche.
Aug 31, 2014, 11:00 PM EDT
Turkoglu didn’t do much in L.A. last year, but Chris Paul recently touted the importance of consistency in the Clippers’ chances for success next season.
Aug 31, 2014, 9:30 PM EDT
France picked up a nice win over Argentina.
Aug 31, 2014, 7:59 PM EDT
James Harden makes the PUJIT work for him.
Aug 31, 2014, 6:29 PM EDT
The energy of Kenneth Faried helped Team USA pull away in the second half.
Aug 31, 2014, 5:31 PM EDT
Terry was never going to be a fit in Sacramento, but could be a nice veteran addition for a Rockets team that plans on contending next season.
Aug 31, 2014, 5:00 PM EDT
Franklin only played one NBA season, but this will open up a roster spot in Memphis.
- Derrick Rose after first back-to-back in years: “I’m feeling good right now” 1
- Report: Rajon Rondo wants to start season with Celtics, see how things unfold 11
- Rajon Rondo’s agent denies they asked Celtics for a trade 14
- Team USA trails at the half, then pulls away for 98-77 win over Turkey at FIBA World Cup 19
- Report: Nike nearing deal to keep Kevin Durant for next 10 years 21
- Report: Rajon Rondo has told Celtics ‘he wants out’ 68
- World Cup Day 1 roundup: Brazil with big win, Andray Blatche puts on a show 5
- USA cruises past Finland in World Cup opener, 114-55 18