Report: Kings sold to group looking to move team to Seattle
UPDATE 2: The Maloof brothers have apparently rejected the $500 million deal, according to Steven Large on Twitter. It is unclear at this time what this means going forward. However, the Maloofs may just be trying to get a better deal.
UPDATE: The deal is believed to be worth $500 million.
The Sacramento Kings will reportedly be sold to a group interested in bringing the team to Seattle, according to Yahoo! Sports.
The ownership group is led by Chris Hansen and Steve Ballmer.
The group hopes to relocate the team to Key Arena in Seattle for the 2013-14 season. They have a arena project near Safeco Field that is expected to be ready for the 2015-16 season.
more to follow...