The NBA's relocation committee has reportedly been briefed on the sale of the Kings to a Seattle-based ownership group, yet another sign that it's a matter of when, not if, the franchise officially relocates to the Emerald City.
In yet another sign that the Sacramento Kings' move to Seattle is inevitable, the NBA held a conference call with members of the relocation committee to brief them on the specifics of the Kings' sale to Chris Hansen's Seattle-based group, according to Yahoo! Sports' Adrian Wojnarowski. The plan is to have this arrangement ready before the league's March 1 relocation deadline.
The committee members were briefed on a "non-binding set of deal points" that included a $525 million sale by the Maloof family to the Seattle group headed by the Hansen and Steve Ballmer group, according to Wojnarowski. The proposal calls for Hansen and Ballmer to buy 65 percent of the team that includes the 53 percent of the franchise the Maloofs own and the 12 percent that minority owner Bob Hernerich controls.
It remains unclear whether the Maloofs will own any part of the future Seattle franchise. This was a reported request of theirs during the negotiations, but whatever percentage the family keeps will not be enough for them to have any control over the team's day-to-day operations, according to Wojnarowski.
The news is a huge blow to Sacramento residents and city officials, who have spent much of the past few days trying to find a local buyer that could meet the Maloofs' asking price and keep the team in Sacramento.