Posted: Jan 9, 2013 3:38 PM by Andrew Masuda
Updated: Jan 9, 2013 3:52 PM
Investor Chris Hansen, seeking to bring an NBA team to Seattle, is nearing a deal to buy the Sacramento Kings from the Maloof family for about $500 million, multiple websites are reporting.
Hansen is trying to build a new arena in Seattle, which lost the SuperSonics to Oklahoma City in 2008. The Maloofs are looking to sell the Kings because they have been unable to come up with a long-term solution for a new arena in Sacramento.
As a prerequisite before construction can start on his proposed $490 million venue in Seattle, Hansen must bring an NBA franchise to Seattle. He also wants a business partner to find an NHL team for the city.
The city of Seattle retained the rights to the "SuperSonics" name and logo, so if the Kings do relocate to the Pacific Northwest, they could be renamed the Sonics.
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