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.’’