A source reports the Sacramento Kings have been sold to Chris Hansen for $525 million. Matt Steinmetz, who is a Golden State Warriors employee, took to his Twitter account to post what amounts to breaking news on Friday morning (Jan. 11).
According to Steinmetz, "I've heard from reliable source that the Kings' sale to Hansen-Ballmer in Seattle is done deal." This isn't something that has been confirmed by multiple sources yet, but it looks like the Kings could soon be moving to Seattle.
The reported purchase price of $525 is a bit higher than the early estimations of $500 million, but it appears the Maloof family may have convinced Hansen and his group to increase the purchase price. It was assumed that one of the hold-ups to a potential deal was that the Maloofs wanted to maintain some control within the organization.
If the sale is indeed official, the Sacramento Kings franchise could be playing in Key Arena for the 2013-14 NBA season. There are a lot of details that would still need to be worked out, including whether the team will be named the Seattle SuperSonics again, but it appears that a huge hurdle has been surpassed in getting an NBA franchise back to Seattle.