Sacramento Kings to Be Sold, Moved to Seattle
The Sacramento Kings are approximately to be called for a traveling violation.
Adrian Wojnarowski of Yahoo Sports has Tweeted confirmation that the Maloof family is on the verge of selling the team to a Seattle-based group of investors for $500 million.
That contingent – led by Valiant Capital’s Chris Hansen & Microsoft CEO Steve Ballmer – will then move the Kings to Seattle, hopefully in time for the 2013-2014 season.
Seattle was home to the SuperSonics for 40 years until that team left for Oklahoma City in 2008.
According to Yahoo Sports, the new owners will build a new arena for the Kings, and, until then, home games will be played in KeyArena.
The Maloofs have struggled for years with their finances. They sold a majority of their Palms Casino in Las Vegas a couple years ago & have flirted before with moving the Kings elsewhere.
Our apologies go out to residents of Sacramento for losing their squad. But look at the bright side: at least DeMarcus Cousins is someone else’s problem now.