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Update: Sacramento Mayor Vows to Help Find Local Buyer for Kings

Online rumors say the investors behind the new Seattle arena are purchasing the NBA team for $500 million.

Update, 4 p.m.: Sacramento Mayor Kevin Johnson said in a press conference Wednesday afternoon that if the Maloof brothers were planning to sell the Sacramento Kings, they should sell to someone locally to avoid moving the team.

"It appears to me for the first time they have publicly shown a desire to sell the team, and that's what's significant," Johnson said. "We need to put ourselves in a position to find an ownership group and buyers to keep the team in Sacramento."

Johnson said NBA fans in Sacramento have shown 27 years of loyal support, adding that the city is "a proven market" where the Kings get 100 percent of professional sports marketshare.

Johnson said investors have spoken to him in the past about a desire to buy the team.

—Justin Cox and Cody Kitaura

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Update, 3:10 p.m.: Citing anonymous sources, The Sacramento Bee has confirmed that owners of the Sacramento Kings are in talks with Chris Hansen's investment group. But the newspaper says the discussion has been "conceptual" so far and that no official offer has been made.

The Maloof family, which owns the Kings, has previously said it would not sell the team, the Bee reported.

"If someone was to put a crazy number on the table, their perspective could change," an anonymous source told the paper. "If somebody like a (Chris) Hansen (the head of the Seattle group) were to actually make an offer, which hasn't happened yet, and that offer was ridiculous, things could change."

—Caitlin Moran

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Facebook and Twitter are buzzing this morning with rumors that the investors behind the new Seattle arena are about to purchase the Sacramento Kings for $500 million.

Do you believe the rumors are true? If they are, what's your reaction? Tell us in the comments section.

Many media outlets are citing tweets from Yahoo! Sports reporter Adrian Wojnarowski claiming that Chris Hansen and Steve Ballmer are about to close a $500-million deal that would bring the team to Seattle.

But a Sacramento Kings official has called the report inaccurate, according to the Sacramento Bee.

Lead investor Chris Hansen reached a deal with the city of Seattle in September to build a $490-million basketball and hockey arena in the SoDo area. The agreement paved the way for an NBA team to return to Seattle.

—Caitlin Moran

Bonnie Mutton January 09, 2013 at 08:48 PM
Just wonder if any of us will be able to affort tickets. Sale price stated is outrageous and add new stadium. Good luck Chris Hansen and friends.
RS Leavitt January 09, 2013 at 09:45 PM
So will they be the Kings or Sonics?
Caitlin Moran January 09, 2013 at 11:00 PM
Hi RS, that's still up in the air. But, as the Seattle PI pointed out, the city of Seattle has retained the rights to the name and logo, so the return of the Sonics seems like a definite possibility: http://blog.seattlepi.com/seattlesports/2013/01/09/report-chris-hansen-close-to-buying-sacramento-kings-for-500-million/
Mark Williams January 10, 2013 at 12:15 AM
Northern VA is going to pay all monies for a new arena. Seattle/King Co can't compete with that. plus the Maloofs need to maintain some ownership since they have been forced out of The Palms and the beer business the last few years. Maloofs need cash and soon. this will not be the deal they accept. Seattle (read Hansen) is in line for Memphis or Toronto franchises too. they sonics will be back (i'd bet my house on it) just not this deal....IMHO
jo momma January 10, 2013 at 03:57 AM
Mark....interesting take, mine is a little different: - I believe the Northern VA deal, was blown yesterday, when officials there said talks are off. Maybe you are speaking of a different group/government? - I also believe NBA is going to do everything in their power, to remove Maloofs, as they aren't aligned with NBA owners, and owe the NBA (up to) over a hundred million dollars, depending on which source you follow. They also went out of there way to embarrass Sacramento, and NBA, last year in the attempt to build a new areana. - Word out of Sacramento, is that Maloofs want back into liquor distributorships, which would require fresh piles of cash, and that is why they are selling at this time - I thought the Memphis ownership, and team have already come to an agreement to stay in Tennessee
Edward A. January 10, 2013 at 07:31 AM
Can someone explain why I should care? It isn't that I don't care about basketball, it's that I don't like the impact on the public. It means more congestion, usually some form of public funding (or, at least, tax incentives), and another ugly building. All I can think of during these breathless conversations is the Roman coliseum.
Don January 10, 2013 at 11:54 AM
Don't worry Bonnie. They won't need your support to make the deal. There are enough people in this city to support an NBA team as we did for many many years. You state the price is outrageous yet this is what it costs to purchase a professional sports team. It's just not your thing which is just fine. People pay for their entertainment and going to a NBA game is something many of us love, but again you don't and we will muddle on without you. By the way, your last comment of wishing them luck doesn't sound very heartfelt but appears to be a sarcastic stab. Interesting how your three sentences accomplished so much negativity. My critique is not negative, just an observation.
Don January 10, 2013 at 11:57 AM
Get over it Eddie.
Jason F. January 10, 2013 at 01:37 PM
I hate basketball, useless sport. How do you like them apples Don?
Tony Bussert January 10, 2013 at 03:18 PM
Nobody is forcing you to care, but this is news for the region.
Edward A. January 10, 2013 at 06:39 PM
Well, I asked why I should care, but then I answered my own question. I care because I have to care, since it inevitably impacts me. I get that some people love major sports, and I get that it is reasonable for me to bear some of the burden (financial and otherwise) for their indulgence. What's frustrating to me is that many of the people who passionately want another sports team in Seattle are the same people who balk at paying for things they don't plan to use (e.g. mass transit, low income housing, etc.). I haven't analyzed the intersection between those people on this website, but I bet there is one! So I guess it's the hypocrisy that bugs me.
Don January 10, 2013 at 07:27 PM
J-Rod, LMAO, Quoting Eddie, I'd don't care. :P
Reaganart January 11, 2013 at 06:07 AM
As a recent resident of Sacramento...I say...You get what you pay for.
Casper April 18, 2013 at 04:50 AM
Yes

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