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Reports: Seattle on the verge of having an NBA team

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The Associated Press
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People with knowledge of the situation say investor Chris Hansen has contacted the Maloof family about buying the Sacramento Kings.

Yahoo Sports columnist Adrian Wojnarowski reports that the teams owners are finalizing a deal to sell the Sacramento Kings to the Seattle group with plans to relocate franchise. 

Yahoo Sports reported the Kings could sell for more than $500 million. KPLU sports commentator Art Thiel says that price is surprising – it’s $100 million higher than the selling price for any other professional basketball team.

The Sacramento owners are in financial trouble and have been negotiating with several cities to get a new arena.

Seattle Mayor Mike McGinn told reporters he’s been told nothing yet about any possible purchase of a team.

The group led by investor Chris Hansen and Steve Ballmer has proposed a new arena in Seattle’s Sodo area. That proposal is still going through an environmental impact analysis. If Hansen’s group does purchase a team, it could play in Key-Arena until a new stadium is finished.

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