Kings sale to Seattle-based group may be complete, according to report

Kelley L Cox-US PRESSWIRE

Is the Kings' sale to a Seattle-based group done? One report suggests that the Maloofs have a handshake deal with Chris Hansen's group, but the Maloofs have backed out of handshake deals before.

Rumors about the completion of the Sacramento Kings' sale to a Seattle-based group have surfaced on Friday, but it remains unclear whether the deal is actually done.

Comcast SportsNet Bay Area writer Matt Steinmetz reported that the group led by Chris Hansen had an agreement on a deal to purchase the Kings from the Maloof brothers for $525 million. As part of the arrangement, the Maloofs would have no control in the franchise, according to Steinmetz.

In a radio interview, Steinmetz added that the sides have a "handshake" deal. Of course, the Maloofs also had a handshake deal on a financing plan for a new arena to keep the team in Sacramento last February, and that fell apart, so there's reason to be skeptical that the deal is officially done. Nevertheless, it appears time is running out for Sacramento.

There has been no official denial of the report yet, but the minority owners have yet to be informed, according to CBS13's Steve Large.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.