Discussions between the Maloof brothers and the investment group led by Chris Hansen have continued in the past week as the two sides push towards finalizing the deal that would sell the Kings and move them to Seattle.
According to Yahoo Sports, a conference call between the NBA and the two sides revealed “deal points” of the potential sale.
The sale price will be $525 million, which confirmed reports from last week. The Seattle investment group will own 65 percent of the team, with the Maloofs hanging on to 53 percent and minority owner Bob Hernreich will have 12 percent.
Last week, a report surfaced that the major hangup with the deal being finalized was the Maloofs still wanting a stake in the team. However, sources tell Yahoo Sports that even if they were to maintain equity, they would not have any say in how the team is run or the day-to-day operations.
If a deal were to be reached, it would require approval from the NBA’s Board of Governors with advice from commissioner David Stern. The team would then seek relocation to Seattle for the 2013-2014 NBA season.
Stay tuned to Golden Gate Sports for updates on the latest breaking news with the Sacramento Kings.