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The Sacramento Kings, currently owned by the Maloof family, is up for sale. Chris Hansen, an investor, wants to bring the Kings to Seattle and is offering the Maloofs an estimated $500 million.
Although no agreement has been made, negotiations are very close. According to the LA Times, Hansen wants to build a new area in Seattle to stand as the home for the new team. Seattle’s old basketball team was the Supersonics, but in 2008 they moved to Oklahoma City and became the Thunder.
Yahoo! Sports reports that The Maloofs family has a bad reputation of backing out of deals, so people are skeptical that the deal will actually get done. The last time that a deal was close to being done for a new area for the Kings, the Maloofs backed out at the last minute.
If the team is moved to Seattle, then they will go back to the old team name Sonics. When the team moved to Oklahoma City, the owner didn’t buy the name or logos to go along with the team.