Despite several reports have claimed over the past few weeks that a deal has been reached between the Maloofs and Chris Hansen’s investment group to sell the Kings and move them to Seattle, the NBA has yet to receive a sale agreement from the two sides
Commissioner David Stern told reporters today that “no purchase and sale agreement has been submitted to us, and we assume if one were going to be executed, then the next thing they would do is submit it to us.”
Kings’ fans have been rallying and fighting to keep their team in Sacramento, pledging over $15 million to a new arena for the new owner. Meanwhile, mayor Kevin Johnson has been working tirelessly to convince a local investor to buy the team.
Even if the sale agreement was sent to the NBA, it would have to be approved by the Board of Governors with advice from Stern. There is no guarantee that it will pass easily, as Stern has been supportive of keeping the team in Sacramento.