BigE

The Maloofs, owners of the Sacramento Kings, are finalizing a deal to move the team to Seattle, according to a report on Yahoo! Sports.

The report says team would sold for $500 million to hedge fund manager Chris Hansen and Microsoft chairman Steve Ballmer and play in Seattle's Key Arena, as early as next season, before a new arena is built. The team would play at Key Arena for two seasons.

http://www.usatoday.com/story/sports...attle/1820851/

RollWithEm

Where did you find that logo?

__________________
But that's just me.

BigE

Report: Maloofs' sale of Kings to Seattle group hits snag

http://www.cbssports.com/nba/blog/ey...up-under-doubt

RollWithEm

Another snag? I hope this gets done before next season. This process needs to be expedited.

__________________
But that's just me.

BigE

Maloofs Agree to Sell NBA's Kings to Seattle Group

The Maloof family has agreed to sell the Kings to a Seattle group led by investor Chris Hansen, the league confirmed in a statement Monday morning. The deal is still pending a vote by the NBA Board of Governors.

A person familiar with the decision said that Hansen's group will buy 65 percent of the franchise, which is valued at $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million. The Maloofs will have no stake in the team.

http://www.usnews.com/news/sports/ar...-to-sell-kings


An image provided by 360 Architecture Inc. shows the preliminary preferred design for a new arena being planned in Seattle to house an NBA basketball team, which could be the Sacramento Kings.



When new owner Clay Bennett decided to move the Seattle SuperSonics to Oklahoma City after purchasing the team more than four years ago, he left behind the name and the logo for the city to use in case it was ever able to acquire another franchise. Given how well the community supported the organization, it was widely assumed that goodwill gesture would come in handy, but I’m not sure anyone realized how quickly it would come in handy.

http://www.cinemablend.com/pop/Micro...tle-51647.html

RollWithEm

Great news.

__________________
But that's just me.

BigE

NBA relocation committee call reveals 'deal points'
of Kings' proposed sale to Seattle group


The NBA held a conference call with members of the league's relocation committee to outline deal points on the proposed sale of majority ownership of the Sacramento Kings to a Seattle-based ownership group, league sources told Yahoo! Sports.

The call detailed what NBA officials described as "a non-binding set of deal points" on a $525 million sale of majority ownership to the Chris Hansen-Steve Ballmer group, sources said.

The Kings have yet to file for relocation to Seattle, but will do so before the March 1 deadline to ensure that the franchise can play the 2013-14 season in Seattle's KeyArena, sources said. The Seattle group plans to use KeyArena for two seasons until the completion of a new Seattle arena could be completed.

The city of Seattle and King County has a deal with Hansen to construct a new arena once the investment group secures an NBA team. Plans to build a $500 million arena were approved by the local officials in October. The group also will change the team's name back to the Sonics. Seattle lost the Sonics when Bennett moved them to Oklahoma City in 2008.

http://sports.yahoo.com/news/nba--nb...183116508.html

Squatch

Hell yeah! I get job back!!!

Basel

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