It is being reported by the Yahoo! Sports that the Maloof family is finalizing a deal to sell the Sacramento Kings to a hedge-fund manager Chris Hansen and Microsoft chairman Steve Ballmer. The deal is reportedly for $500 million and upon the sale the team will move to Seattle.
The new ownership group would rename the Kings back to the SuperSonics and use the original team colors as the teams name, history, and color were left in Seattle once the team moved to Oklahoma City.
The Maloof family and the city of Sacramento have been negotiating on the parameters of a new arena and a sticking point has been who would be the primary financer.
One thing is made clear with this sale, owners will do whatever they can to increase the bottom line. The Kings have one of the most loyal fan bases in Sacramento and even though the city doesn’t have the means to build them a new arena they Maloof family much rather relocate the team to a city who will pick up the tab on most the cost of a new arena.
If you ask me that sounds pretty greedy to me.