Report: Maloof family’s desire to run Kings in Seattle may snag sale
The Maloof family reported to be negotiating a sale of the Sacramento Kings to a Seattle-based group wants to continue to have some say in running the team, an NBA source told The Seattle Times.
The source said the Maloofs, who have owned the Kings since 1998, want not only to retain a small percentage of the team in a sale to a group led by hedge fund manager Chris Hansen and Microsoft chairman Steve Ballmer, but also maintain a presence and some control over how the franchise will be run after it relocates to Seattle for the 2013-14 season.
The source told the Times that negotiations are going beyond a reported $500 million purchase price and could possibly be snagged by the family’s desire to remain involved with the franchise and the NBA.
Another sign that the sale may be stalling rose Thursday afternoon when Sacramento News 10 reporter Bryan May tweeted that George Maloof said a deal was not close.
George Maloof tells News10 a deal to sell the Kings to Seattle group is not close.—
Bryan May (@BMayNews10) January 10, 2013