Sacramento Kings are moving to Seattle

The Sacramento Kings are finally moving. We first reported they were moving to Anaheim, but a financing deal fell through at the Honda Center. The deal was done from the Kings point of view and we were the first to report it.

The deal has not been signed, but the team will be sold to hedge fund manager Chris Hansen and Microsoft chairman Steve Ballmer. The reported selling price is $500 million and they will play in Seattle’s Key Arena. The plan is to play the next two season’s at Key Arena before moving to a brand new arena.

The Maloofs have been viewed very poorly by the Sacramento community. They have stopped attending games and according to most people we talk to they are happy to see the Maloof leave Sacramento for good.

Seattle has been without an NBA franchise since the SuperSonics left following the 2007-08 season. They now play as the Thunder in Oklahoma City. Seattle residence are excited to get another NBA team. Seattle gains the Sacramento Kings, but not the Maloofs, a deal Sacramento wishes they had.

The latest news was spurred by 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.’’

3 Responses to Sacramento Kings are moving to Seattle

  1. You know I really like the Kings, but I feel that this city has been lied to and deceived by the Maloofs. I would love for the Kings to stay in Sacramento, but its gotten to the point that I’m tired of all the drama. If they don’t to be here, THEN LEAVE!!!

  2. Wow! This is supposed to be a news site? Your first paragraph of this story is totally inaccurate. The financing deal in Anaheim didn’t fall through. The Kings didn’t move there because the NBA basically told them they couldn’t.

    And, of course, as everyone knows (except you guys)…the move to Seattle isn’t a done deal. The sale and relocation must first be approved by the NBA and Sacramento is putting in its own bid to keep the team.

    • I not sure of your sources, but the Anaheim did fall through. Seattle’s deal is done between the buyer and seller, I am not sure why that is difficult to grasp for some people.

Sacramento Connect Partner Sacramento SLOAN Member