The city of Seattle has been without a basketball franchise since 2008, but according to reports from ESPN.com, that could all change very soon as area investor Chris Hansen is looking to purchase the Sacramento Kings.
Hansen is the leader of the group that successfully passed a deal to build a new arena in Seattle in attempts to lure an NBA team, which the investor is trying to do with the Kings. According to the report, Hansen has contacted the Maloof family about purchasing the franchise.
No news has been made public yet because there is no actual deal in place at present time. According to the report, the Kings could sell for up to $500 million. The team has been at odds with the city of Sacramento due to issues related to a long-term arena deal.
Yahoo! Sports first reported the discussions between the Kings and Hansen and said that the team could land in Seattle for the 2013-14 season if the deal is completed. The team has a temporary home in KeyArena, where the SuperSonics played, and will move into the new arena when construction is completed.
"I know as much as you do," Seattle Mayor Mike McGinn told The Associated Press when asked about the situation. "If it's true, ain't it cool?"
According to ESPN.com, the Maloof family is still unsure about whether to sell the team or not. Sacramento Mayor Kevin Johnson said on Wednesday that the city would try to keep the franchise in Sacramento.
"We're going to fight, and we're used to being in this situation," Johnson said.
If the Kings sell for $500 million, the total would be the largest for an NBA franchise, passing the $450 million the Golden State Warriors sold for in July 2010.
"All indications that I have seen and read and heard is they are exploring opportunities to sell the team, and that is public and that is the first I have ever heard," Johnson said. "We need to put ourselves in a position to find an ownership group and buyers to keep the team here in Sacramento."
Hansen began the process of building a new arena last year and has said that he will personally guarantee the debt payments on the plan, which helped it gain approval by the city of Seattle. The new plan will involve $200 million in public financing that will be repaid by arena-related taxes. The arena also includes plans to hold a professional hockey team in the future. The ownership group of the Edmonton Oilers visited the city last year, but no deals have been made with any NHL teams yet.
Seattle has been without an NBA team since 2008 when the ownership moved the team to Oklahoma City. The franchise was renamed the Thunder and the team has been very successful, reaching the NBA finals last year behind superstar Kevin Durant.
Durant was drafted second overall by the SuperSonics in the 2007 NBA Draft and played one year in Seattle before the team moved. The franchise made a settlement as part of the move that allowed the SuperSonics name to stay in the city and that the team's history could be shared between Oklahoma City and any future NBA team in Seattle. The SuperSonics won the 1979 NBA Championship and won three conference titles before moving to Oklahoma City.
Hansen and his team have already acquired the property where the arena would be built, which is located near stadiums for the NFL's Seahawks and MLB's Mariners. The Mariners had previously been opposed to the move, citing scheduling, traffic and revenue issues.
The Kings have been dealing with arena issues and the possibility of moving for a few years. The franchise has plans to move Anaheim in 2011, but Johnson convinced the NBA to allow the city more time to figure out a plan for an arena. The Maloofs had a tentative $391 million deal for a new downtown arena with Sacramento last year, but decided to back out.
The Seattle option looks to be the only one for relocating, as officials in Virginia Beach, Va., announced they were dropping their efforts to build a new arena. There had been a possibility that the Kings could move to Virginia.
Sacramento was one of the NBA's most consistent franchises for a time, going to the playoffs eight straight times from 1998 to 2006. The Kings made it to the conference finals in 2002, but lost to the Lakers in seven games. Since then however, the team has missed the playoffs in six straight seasons and hasn't finished better than fourth in the Pacific division. The best record for the team in that span was a 38-44 finish in fourth place in 2008.
"There's a part of me that's disappointed because Sacramento, I've enjoyed my times. I think Sacramento is a great town," said Denver coach and former Seattle coach George Karl. "I'm not going to lie -- I'm happy that Seattle is going to have a team more than Sacramento. But I am disappointed that Sacramento can't keep their team."
