The NBA is coming back to Seattle.
The owners of the Sacramento Kings are in the process of finalizing a deal to a group that will move the franchise to Seattle for the 2013-14 season.
According to a Yahoo! Sports report, Kings co-owners George, Gavin and Phil Maloof “will sell the Kings for approximately $500 million to a group led by hedge-fund manager Chris Hansen and Microsoft chairman Steve Ballmer.”
The group, according to the sources, will reportedly move the team to play two seasons in the KeyArena before moving to a new Seattle Arena. The new Seattle team will be called the Sonics, which was the name of Seattle’s former team, which moved to Oklahoma City, in a city that loved its basketball team.
Yahoo! Sports reports that no agreement has been inked but the the talks have been described as “first and goal at the 1.”
The Maloofs will continue to own a minimal percentage of the franchise but have no input or control over the team.