Maloofs Agree To Sell NBA's Kings To Seattle Group - Spokane, North Idaho News & Weather KHQ.com

Maloofs Agree To Sell NBA's Kings To Seattle Group

SEATTLE (AP) - The only thing stopping the Sacramento Kings from a sale and move to Seattle is approval by NBA owners.

The league confirmed in a statement Monday morning that the Maloof family has agreed to sell the Kings to a Seattle group led by investor Chris Hansen. The deal is still pending a vote by the NBA Board of Governors.

A person familiar with the decision said that Hansen's group will buy 65 percent of the franchise for $525 million, move the team to Seattle and restore the SuperSonics name. The Maloofs will have no stake in the team.

The person spoke to The Associated Press on condition of anonymity because the deal was waiting approval.

The plan by Hansen's group is to have the team play at least the next two seasons in KeyArena before moving into a new facility in downtown Seattle. The deadline for teams to apply for a move for next season is March 1.

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.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Overcrowding issues

    Overcrowding issues

    Wednesday, August 20 2014 12:22 AM EDT2014-08-20 04:22:25 GMT
    It's an issue many counties are dealing with, overcrowding in the jails. And it's an issue the Kootenai county commissioners say they've been trying to correct over the years with bond elections. "we have a chronic problem with overcrowding. In 2013, we spent more than 900 thousand dollars to send inmates out of county to find housing," said county commissioner Dan Green.  >>
    It's an issue many counties are dealing with, overcrowding in the jails. And it's an issue the Kootenai county commissioners say they've been trying to correct over the years with bond elections. "we have a chronic problem with overcrowding. In 2013, we spent more than 900 thousand dollars to send inmates out of county to find housing," said county commissioner Dan Green.  >>
  • PHOTOS: Grizzly bears use tools? WSU study under way

    PHOTOS: Grizzly bears use tools? WSU study under way

    Tuesday, August 19 2014 8:44 PM EDT2014-08-20 00:44:30 GMT
    PULLMAN, Wash. - In a first-ever study, researchers at Washington State University are examining whether grizzly bears make and use tools. >>
    PULLMAN, Wash. - In a first-ever study, researchers at Washington State University are examining whether grizzly bears make and use tools. And while it's too soon to reach a broad scientific conclusion, at least one female bear is demonstrating that, yes, she definitely can. >>
  • PHOTOS: Wildfires in Central Washington

    PHOTOS: Wildfires in Central Washington

    Tuesday, August 19 2014 1:39 PM EDT2014-08-19 17:39:31 GMT
    KHQ.COM - It has been an intense year for wildfires all over the northwest. The photos in this slideshow were taken 8/7 - 8/11 by KHQ photographer Reed Schmitt. Most of the photos are from the Methow Valley area around Winthrop. A few shots are from the North Cascades Smokejumper Base and also from a horseback ride at Sun Mountain near Patterson Lake. The final shot is of Grand Coulee Dam almost completely obscured by smoke.>>
    KHQ.COM - It has been an intense year for wildfires all over the northwest. The photos in this slideshow were taken 8/7 - 8/11 by KHQ photographer Reed Schmitt. Most of the photos are from the Methow Valley area around Winthrop. A few shots are from the North Cascades Smokejumper Base and also from a horseback ride at Sun Mountain near Patterson Lake. The final shot is of Grand Coulee Dam almost completely obscured by smoke.>>