April 26, 2012; Sacramento, CA, USA; Sacramento Kings owners Phil Maloof, George Maloof and Gavin Maloof stand up after the win over the Los Angeles Lakers at Power Balance Pavilion. The Sacramento Kings defeated the Los Angeles Lakers 113-96. Mandatory Credit: Kelley L Cox-USA TODAY Sports

Gavin Maloof, NBA Release Official Statements on Sale of Sacramento Kings


The NBA office has finally made it official. The Sacramento Kings have been sold to a Seattle-based investment group headed by Chris Hansen. The league office confirmed the news with a statement released early Monday morning.

“The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen. The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board’s committee process for review.”

Gavin Maloof, one of the Maloof family members who owns the Kings, released a statement of his own confirming the sale and thanking the people of Sacramento.

“We have always appreciated and treasured our ownership of the Kings and have had a great admiration for the fans and our team members. We would also like thank Chris Hansen for his professionalism during our negotiation. Chris will be a great steward for the franchise,” Maloof said.

The Maloofs were very calculated in the statement and made sure there was no mention of Sacramento.

The next step is to wait and see what happens with the Kings. It is expected that the franchise will be moved to Seattle and the NBA will witness a rebirth of the Seattle Supersonics.

Dick's Sporting Goods presents "Hell Week":

Tags: Sacramento Kings Seattle SuperSonics