The NBA confirms it has received a sale agreement from the Maloofs and Chris Hansen.
We can stop relying on reports now: the NBA confirmed in a statement early Monday that the league has received a purchase agreement from the Seattle group of Chris Hansen and Steve Ballmer for the Sacramento Kings.
Here's the statement:
"The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen. The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board's committee process for review."
Here's the official Sactown Royalty statement:
The Board of Governors will meet in April. Kevin Johnson will make Sacramento's case. It's imperative that the league's owners understand that this does not infringe on owners' rights: the Maloofs will get their money if the NBA allows Sacramento to match. It's also imperative to note that the team was never "on the market." Owners who would agree to keep the team in Sacramento have tried to buy the team since 2011, and the Maloofs consistently said it was not for sale.