Kings being moved to Seattle?

The owners of the Sacramento Kings, the Maloof family, reached an agreement with a Seattle group to sell its controlling interest of the Kings.  The Seattle group has the intention of moving the Kings to Seattle in time for next season.  NBA teams were informed Sunday night that the Kings were valued at $525 million, which included the value of the team as well as the relocation fees, and that a purchase and sale agreement had been executed by the Maloofs and a group led by hedge fund manager Chris Hansen.

"The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board's committee process for review." -The NBA announced Monday

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