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SACRAMENTO- The reign of the Sacramento Kings in the capitol city of California is likely to end at the end of the current NBA season. Multiple NBA and media sources are reporting a Seattle-based group led by hedge fund manager Chris Hansen, has agreed to purchase the Kings from the Maloof family for an NBA record price of $525 million.
If approved by the NBA's Board of Governors, the new owners will immediately move the team to Seattle and will restore the SuperSonics name, colors and logo. The Pacific Northwest city has been without an NBA team since the Sonics moved to Oklahoma City in 2008. The new Sonics would play at least their first two seasons in Key Arena, former home of the old Sonics, before a new arena is built in the downtown area.
Despite the news, Sacramento mayor Kevin Johnson, a former NBA all-star guard, remains committed to keeping the team in northern California. Johnson is trying to line up a local group to counter the Seattle offer and is planning to make a last ditch attempt to sway the Board of Governors to block the move. "Sacramento has proven that it is a strong NBA market with a fan base that year in and year out has demonstrated a commitment to the Kings by selling out 19 of 27 seasons in a top-20 market and owning two of the longest sellout streaks in NBA history," Johnson said.
The Kings have called Sacramento home since 1985 when the team moved there from Kansas City, Missouri.
