Report: Sacramento Kings Owners Sell Franchise To Seattle

Report: Sacramento Kings Owners Sell Franchise To Seattle
Sports
Like Us On Facebook
Like Us On Facebook

It appears that the NBA could be headed back to Seattle soon.Yahoo! Sports reported Wednesday that a deal with the Maloof family to sell the Sacramento Kings to a Seattle ownership group led by Chris Hanson and Steve Balmer is closed to being finalized.

The sale price reportedly would be approximately $500 million, the largest in NBA history.

The new owners hope to move the Kings to Seattle’s Key Arena for the 2013-’14 season. Plans are to build a new arena that would be ready after several seasons in the existing building.

The Maloofs would maintain a minority share in the team but have no control over the operations of the franchise, Yahoo! reported.

Seattle has been without an NBA team since the Sonics moved to Oklahoma City and became the Thunder. The Seattle franchise will be allowed to reclaim the Sonics nickname.

via Sports Xchange

Photo Credit: Getty Images

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Julian Sonny

From the sandy beaches of Hawaii, to the streets of New York: Julian has seen it all. His lifetime of travels has given him a broad scope of knowledge and an eclectic taste unlike any other in the tri-state area. Julian has often been compared to cultural icon, The Rock, because of his unequivocal work ethic and warrior-like stature.

More In Sports

Sports Joseph Milord

Here’s Why The ‘Triangle Offense’ Is A Big Deal For The Knicks This Year

The words “Triangle Offense” truly deserve their place in between these quotation marks. After all, when you think about it, we don’t only use them to simply reference other people’s quotes. We often use quotation marks, especially in finger-motioning form, to point out titles that, despite technically being factual, seem to exaggerate the importance or […]

Sports Philip Tacason

Why The 2014 World Series Will Be The Best One Yet

Two days ago, the Kansas City Royals won their eighth straight post-season game and claimed the American League pennant after ending a playoff drought that lasted nearly three decades. Last night, the San Francisco Giants won the National League Pennant after a walk-off, three-run home run by mid-season acquisition Travis Ishikawa. Today, sports journalists across […]

Also On Elite

Dating

You’re Not The Only One: 6 Ways To Get A Woman To Put You First

Women have options. If you have just started dating a woman, chances are you are wrong if you think her sole focus is you. She could be dating another man concurrently, or she could be talking to other men on dating apps like PlentyOfFish or Tinder. This may seem discouraging, but the good news is […]

Sports

How Vince McMahon Became A Billionaire With His Back Against The Wall

Monday nights have been sacred in America for exactly 44 years now — ever since Monday Night Football first debuted in 1970.  But during the 1990s, Monday nights served another purpose: They were reserved for an alternative brand of pro wrestling that would undergo a massive change of direction and would, ultimately, push the envelope […]

World

Why Millennials Everywhere Should Care About What’s Happening In Hong Kong

Paraphrasing Nobel Laureate Milton Friedman, economic freedom eventually leads to the pursuit of political/civil freedom. This is very clear now, given what’s happening in Hong Kong. With protests that have spanned more than a week, the people of Hong Kong want to claim the freedom — their innate right — to choose their chief executive […]

Sports

Even The Season Premiere Of ‘South Park’ Played Kirk Cousins Over RG III

“South Park” made fun of the NFL in a way only “South Park” can, by showing how ridiculous the league’s controversies are through responsive and cartoonish parody. During the 18th season premiere, “South Park” made the Washington Redskins, Ray Rice, NFL commissioner Roger Goodell and the Dallas Cowboys owner, Jerry Jones, the butt of all its […]