New York, NY (Sports Network) - The NBA will review the sale agreement of the Sacramento Kings to an investor group that reportedly intends to relocate the franchise to Seattle.
While the NBA confirmed that the Maloof brothers have reached an agreement with a group headed by Christopher Hansen, there was no indication from the league concerning multiple reports from Sunday that said the new ownership group would move the franchise from California's capital to the Pacific Northwest.
"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 NBA said in a statement. "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."
Seattle has been without an NBA team since the SuperSonics left for Oklahoma City following the 2007-08 campaign. The Sonics were an expansion franchise in 1967-68.
The Kings, meanwhile, have been in numerous cities since their inception in 1948-49. They began as the Rochester Royals until 1956-57, then stopped in Cincinnati through 1971-72 before moving to the Midwest. They changed their name to the KC-Omaha Kings before becoming the Kansas City Kings in 1975-76, then moved to Sacramento for the start of the 1985-86 season.
Sacramento mayor Kevin Johnson, a former NBA player, is reportedly seeking a group to buy the Kings and keep them in Sacramento.
The Kings have been at odds with the city over a new building for the team. An agreement to build a $391 million arena with the city council was announced last February, but fell through just two months later.