Report: Sacramento Kings to be sold and moved to Seattle

The last time the New York Knicks were in Sacramento, they lost a heartbreaker at the buzzer.

It doesn’t look like they will get the opportunity to avenge that loss.

January 4, 2013; Toronto, ON, Canada; Sacramento Kings center DeMarcus Cousins (15) carries the ball against the Toronto Raptors during the second half at the Air Canada Centre. Sacramento defeated Toronto 105-96. Mandatory Credit: John E. Sokolowski-USA TODAY Sports

A report from Yahoo! Sports Adrian Wojnarowski details plans for the Sacramento Kings to be sold and moved to Seattle for the 2013-14 season.

Wojnarowski writes:

"The Maloof family is finalizing an agreement to sell the Sacramento Kings to a group that hopes to move the franchise to Seattle for the 2013-14 season, league sources told Yahoo! Sports."

The proposed deal is reportedly for $500 million and being sold to a group led by hedge-fund manager Chris Hansen and Microsoft chairman Steve Ballmer. The group is seeking to relocate the franchise to Seattle’s Key Arena for the 2013-14 season.

The new Seattle franchise would play in the old Key Arena for two seasons before moving into a new arena.

Pro Basketball Talk’s Kurt Helin was also reporting that the deal is very close to being done.

The Kings were unable to get a new arena built in downtown Sacramento and this deal isn’t done yet because the Maloof’s have had a history of backing out of negotiations in the past.

But a source of Wojnarowski’s described the deal as “first and goal at the 1.”

The Maloof’s are rumored to be keeping a small percentage of the team, but will have no input or say in the franchise.

It is worth noting that Bob Condatta, Seattle Times sports reporter, has reported that no one associated with the proposed new Seattle franchise has commented on the rumor and that there may be no deal at all.

Condatta notes:

The rumor originated in a Tweet from Daina Falk, a food blogger known as “The Hungry Fan’’ and also the daughter of longtime NBA agent David Falk, whose clients included Michael Jordan and a number of former  Sonics, including longtime team president Wally Walker.

Daina Falk sent out a Tweet Tuesday reading: “So I hear that the Seattle Kings is officially a done deal! The Maloofs (the family  that owns the Kings) finally sold the ailing Sacramento team.’’

When questioned about the Tweet, she responded that she had heard it from someone who would know, and she also referred to the Tweet on her Facebook page saying to wait and see what happens over the next few days.

Those Tweets and her Facebook message were all deleted by Wednesday morning.

It’s also worth noting that the Kings and the NBA have not commented on the issue.

Seattle has been without an NBA team since 2008 when the Sonics were relocated to Oklahoma City by new owner Clay Bennett.

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