NBA office makes it official: Deal to sell Kings to Seattle group reached. Gavin Maloof makes statement.
Jan 21, 2013, 10:38 AM EST
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.
Mar 4, 2015, 3:45 PM EST
Singing is awful, but the dancing is fantastic.
Mar 4, 2015, 2:58 PM EST
Allen isn’t officially retiring just yet, says he’ll reassess things in advance of next season.
Mar 4, 2015, 2:15 PM EST
Davis has missed the last six games with a shoulder injury.
Mar 4, 2015, 1:28 PM EST
He should put up numbers against the Sixers. Then again he puts up numbers on everyone.
Joakim Noah says non-violence video he put out helped him maintain composure after flagrant foul from Wizards’ Nene
Mar 4, 2015, 12:45 PM EST
Nene whacked Noah in the face, but Noah didn’t respond.
Mar 4, 2015, 12:00 PM EST
Chemistry issues in Memphis?
Mar 4, 2015, 11:20 AM EST
League is releasing officiating reports for all calls made in a close game’s final two minutes, and the results are fascinating.
Mar 4, 2015, 10:40 AM EST
Nifty but necessary move by LeBron to earn the easy two points.
Mar 4, 2015, 10:00 AM EST
Suns in another unnecessary disagreement with a former player.
Mar 4, 2015, 9:20 AM EST
Knicks starting five combined for just 24 points, and New York trailed by as many as 44 before this one was finished.
Mar 4, 2015, 8:40 AM EST
Jazz are 5-1 in their last six games since Gobert was inserted into the starting lineup.
Mar 4, 2015, 8:00 AM EST
James passed Ray Allen to achieve his latest milestone.
Mar 4, 2015, 2:55 AM EST
Denver wins for its new coach.
Mar 4, 2015, 1:55 AM EST
Hawks fans booed Smith every time he touched the ball.
Mar 4, 2015, 12:15 AM EST
Tony Snell is not THAT good at getting open
Mar 3, 2015, 11:33 PM EST
Smith can’t stop shooting 3s, though, and you know how that ends
Mar 3, 2015, 10:50 PM EST
It was only a matter of time
Mar 3, 2015, 10:08 PM EST
Will he stay with Mavericks?
Mar 3, 2015, 9:08 PM EST
Denver should reciprocate
Mar 3, 2015, 8:08 PM EST
Boston reportedly also plans to try for Marc Gasol, Kawhi Leonard and Jimmy Butler
- Ray Allen announces he will not play this season 6
- Pelicans’ Anthony Davis a gametime decision Wednesday vs. Pistons 0
- Derek Fisher questions ‘character and integrity’ of players after Knicks lose to Kings by 38 points 20
- Five Things We Learned in NBA Tuesday: The Hawks clinched playoff spot in front of Josh Smith 6
- Nuggets need to decide direction, then hire coach 18
- Report: Russell Westbrook ‘likely’ to return to Thunder lineup Wednesday, will wear protective mask 13
- Nuggets have fired head coach Brian Shaw 29
- Five Things We Learned in NBA Monday: Goran Dragic got his revenge in concentrated form 5