Sacramento Kings Appear Headed To Seattle - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

SPORTS

Sacramento Kings Appear Headed To Seattle

Posted: Updated:

According to Adrian Wojnarowski of Yahoo! Sports, the Sacramento Kings are finalizing an agreement to sell the franchise to an ownership group from Seattle.

The Seattle ownership group is led by Chris Hansen and Steve Ballmer.

According to Yahoo!, Hansen's group has an arena project that will be built near Safeco Field, the home of the Seattle Mariners (MLB). The new complex should be ready for the beginning of the 2015 NBA season.

The total cost of the new arena will be approximately $500 million and Yahoo! reports the sale price for the franchise itself will be for a similar amount. The NBA record for largest sale price was the $450 million paid for the Golden State Warriors in 2010.

The Seattle group hopes to relocate the team to Key Arena, the former home of the Seattle Supersonics, for the 2013-14 season.

Gavin and Joe Maloof, the brothers that currently own the franchise, will retain a very small ownership stake but have no significant input in the running of the organization.

A franchise back in Seattle would likely ignite a rivalry between the city's new team and the city's old team, the Oklahoma City Thunder.

Live Radar

ESP Interactive

Featured on News9.com

  • OU Sooners

    Find the latest sports news, schedules and more for the OU Sooners now!

  • OSU Cowboys

    Get all your OSU Cowboys information from sports highlights to the latest news & videos.

  • OKC Thunder

    Thunder Up! Get the latest sports news, game highlights, videos and updates on the team.

  • Barons

    Learn more about the Barons with the latest team news, schedule & more.

  • Redhawks

    Cheer on the Redhawks Get your tickets and team information today.

Powered by WorldNow
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111
OKLAHOMA CITY'S OWN TM
Oklahoma's Own News9.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state including Oklahoma City's Own.
All content © Copyright 2000 - 2014, WorldNow and KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.