Sacramento Kings Sold: Seattle Supersonics Are Back - SportsRelocation.com
The Sacramento Kings are about to be sold to the Seattle investment group led by Chris Hansen and Microsoft Chairman Steve Ballmer for an estimated $500 million, making it the highest price paid for a professional basketball team.
The deal has not been finalized, but all reports say that could happen in the next few days. If so, the Seattle-based group will have until March to file for relocation, a mere formality since NBA Commissioner David Stern strongly supports the Hansen-Ballmer group.
Seattle has been without a team since the franchise was purchased and moved to Oklahoma City. The new team would retain the name Sonics, and would participate as the Sonics for the 2013-2014 season.
Under the plan, the Sonics would play two seasons in Key Arena before moving to a new Seattle arena which has yet to be built.
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