The deal to sell the Sacramento Kings to a Seattle investment group has been finalized, according to CSN.
The Maloofs will receive $525 million from a group led by Chris Hansen, and will not have any stake in the team, the report indicates.
Neither side is commenting at this time.
If this is true and the Kings have indeed been sold, then talks must have escalated fairly quickly. Last night, George Maloof told a Sacramento news station that a deal was “not close.”