NBA confirms Kings sale to Seattle, relocation committee will review

Kelley L Cox-US PRESSWIRE

The NBA released a statement Monday morning confirming the sale of the Sacramento Kings to Chris Hansen's Seattle-based ownership group.

The NBA released a statement Monday morning confirming the pending sale of the Sacramento Kings from the Maloof family to a Seattle-based ownership group led by Chris Hansen. Here's the official 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.

The Maloofs struck a deal late Sunday night that would transfer a 65 percent controlling share of the Kings to Hansen's Seattle group. If the deal goes through, the franchise is expected to relocate by the 2013-14 season. Yahoo! Sports' Adrian Wojnarowski reported on Sunday that approval from the NBA's relocation committee is a "formality."

The NBA's Board of Governors has the final say in the matter, so there's still a chance the deal could be blocked even if the relocation committee approves it. Sacramento Mayor Kevin Johnson has been working to put together a Sacramento-based ownership group to present a viable offer to the board that could potentially save the Kings and keep them in the city.

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.