AP sources: Maloofs agree to sell Kings - Spokane, North Idaho News & Weather KHQ.com

AP sources: Maloofs agree to sell Kings

Posted: Updated:

Two people familiar with the decision says the Maloof family has agreed to sell the Sacramento Kings to a Seattle group led by investor Chris Hansen.

 

The people spoke on condition of anonymity to The Associated Press on Sunday night because the deal is still pending approval from the NBA Board of Governors.

 

One person said the Maloofs are selling all 65 percent of their share for $525 million to Hansen, who will move the team to Seattle and restore the SuperSonics name.

 

The Maloofs will still be allowed to look at other bids until the league approves the sale.

 

Sacramento Mayor Kevin Johnson said last week he had received permission from NBA Commissioner David Stern to present a counteroffer to league owners from buyers who would keep the Kings in Sacramento.

 

The deadline for teams to apply for a move for the next season is March 1.

 

  • Pro SportsProMore>>

  • Four-Run First Leads Indians To Win

    Four-Run First Leads Indians To Win

    Monday, July 28 2014 2:02 AM EDT2014-07-28 06:02:51 GMT
    The Spokane Indians finally pulled out a win thanks to an early offensive display.The Spokane Indians finally pulled out a win thanks to an early offensive display.
    Four walks and a Jose Trevino sacrifice fly were all the Indians needed as Spokane scored all four of its runs in the first inning to top the Vancouver Canadians 4-2 at Avista Stadium on Sunday night.>>
    Four walks and a Jose Trevino sacrifice fly were all the Indians needed as Spokane scored all four of its runs in the first inning to top the Vancouver Canadians 4-2 at Avista Stadium on Sunday night.>>
  • Jimmy Shane, Team Oberto Wins Columbia Cup

    Jimmy Shane, Team Oberto Wins Columbia Cup

    Jimmy Shane in the U-6 Oberto boat wins the 49th HAPO Columbia Cup.>>
    Jimmy Shane in the U-6 Oberto boat wins the 49th HAPO Columbia Cup.>>
  • M's Fall In Extras To O's

    M's Fall In Extras To O's

    Sunday, July 27 2014 8:45 PM EDT2014-07-28 00:45:59 GMT
    Manny Machado lifted a bases-loaded sacrifice fly in the 10th inning and the Baltimore Orioles beat the Seattle Mariners 3-2 Sunday.>>
    Manny Machado lifted a bases-loaded sacrifice fly in the 10th inning and the Baltimore Orioles beat the Seattle Mariners 3-2 Sunday.
    >>