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.