Kings could be relocating to Seattle

Kings could be relocating to Seattle
January 9, 2013, 9:22 pm
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According to a report from Yahoo! Sports, the Maloof family intends to sell the Sacramento Kings to a group that plans to move the franchise to Seattle as early as the 2013-'14 season.
Hedge-fund manager Chris Hansen and Microsoft chariman Steve Balmer lead the group interested in buying the Kings franchise, which reportedly would sell for approximately 500 million.
UPDATE: CBS 13 in Sacramento's Steve Large tweeted that the Seattle group's offer was rejected by the Maloof brothers.
The agreement is not official, and the Maloofs have a history of changing positions at the 11th hour, but a source described the deal to Y! Sports as "first and goal at the 1." The Kings' status as a franchise in Sacramento has been a roller coaster, but it seemed to be back on track when funding for a new arena was approved in February. But those plans fell through two months later, as the Maloof brothers reportedly backed out once the plans were approved.
Following the completion of the sale to the Hansen-Ballmer group, they would have until March to file for relocation. Sources told Y! Sports there would be little trouble moving the franchise to Seattle, and that the plans are to change the Kings' name and logos back to the original Sonics.
Seattle has been without a franchise since April 2008, when NBA owners voted 28-2 to approve the relocation of the Sonics to Oklahoma City.
That Oklahoma City team, now the Thunder, has risen to become one of the perennial top teams in the West.