Kelley L Cox-US PRESSWIRE
The Sacramento Kings are reportedly about to be sold to a Seattle ownership group for $500 million. How does that compare to the most recent sales of NBA franchises?
Word spread on Wednesday that the Sacramento Kings will be sold by the Maloof family for an estimated $500 million, according to Yahoo! Sports' Adrian Wojnarowski, and that's certainly on the top-end of what NBA franchises have been selling for in the past few years.
In comparing the sale of the Kings to the most recent NBA franchise transactions, it's important to note that every one came in a different situation. Some of the sale prices included facilities, not just brands (see Mikhail Prokohorov, who owns part of the Brooklyn Nets' new home, the Barclays Center). Others were sales to people who were already minority owners of a team (see Michael Jordan, who already owned a small piece of the Bobcats).
Here are the last eight sales of NBA teams:
March 2010: Michael Jordan, already a minority owner, buys a large portion of the Charlotte Bobcats for $275 million and assumed $150 million in debt from former owner Bob Johnson, who himself paid $300 million for the franchise.
May 2010: Mikhail Prokhorov purchased 80 percent of the then-New Jersey Nets for $200 million, all while assuming $180 in debt.