Rumors about the completion of the Sacramento Kings' sale to a Seattle-based group have surfaced on Friday, but it remains unclear whether the deal is actually done.
Kings sale to Seattle-based group may be complete, according to report
Is the Kings’ sale to a Seattle-based group done? One report suggests that the Maloofs have a handshake deal with Chris Hansen’s group, but the Maloofs have backed out of handshake deals before.
Comcast SportsNet Bay Area writer Matt Steinmetz reported that the group led by Chris Hansen had an agreement on a deal to purchase the Kings from the Maloof brothers for $525 million. As part of the arrangement, the Maloofs would have no control in the franchise, according to Steinmetz.
In a radio interview, Steinmetz added that the sides have a “handshake” deal. Of course, the Maloofs also had a handshake deal on a financing plan for a new arena to keep the team in Sacramento last February, and that fell apart, so there’s reason to be skeptical that the deal is officially done. Nevertheless, it appears time is running out for Sacramento.
There has been no official denial of the report yet, but the minority owners have yet to be informed, according to CBS13’s Steve Large.
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