November 05, 2012; Sacramento, CA, USA; Sacramento Kings fans hold signs against the Golden State Warriors during the fourth quarter at Sleep Train Arena. The Sacramento Kings defeated the Golden State Warriors 94-92. Mandatory Credit: Kelley L Cox-US PRESSWIRE
An earlier report that said the Kings were sold to a Seattle investment group has been confirmed by a second source.
Per KCRA, a Sacramento news station, sources have told Steve Pyeatt of Save Our Sonics that the deal is “on paper” and “more than just a handshake.”
According to Pyeatt, these sources have never been wrong before.
Matt Steinmetz of CSN first reported the deal had been finalized this morning, with the Maloofs selling the Kings to a Seattle investment group led by Chris Hansen for a record $525 million. In addition, the Maloofs would have no equity whatsoever in the team.
Just about an hour ago, 24-Hour Fitness founder Mark Mastrov said that he is interested in buying the Kings and would keep them in Sacramento.
However, two reputable sources confirming the news that a deal has been reached is very hard to deny. We’ll keep you updated on this, but it’s obvious now that the Kings’ future in Sacramento is in serious jeopardy.
Eric runs Golden Gate Sports, a blog that covers all the sports teams in the Bay Area. Born and raised in Northern California, Eric has been a fan of Bay Area sports for his entire life. If you're wondering how someone can support both the Niners and Raiders, just ask him. For anything else, contact him via email at 
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