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Seattle Rumors: Steinmetz says deal is done

Comcast Sportsnet Bay Area NBA analyst Matt Steinmetz is reporting that the sale to Seattle is complete. We'll treat these details with a healthy dose of skepticism for now.

Greg Wissinger

Matt Steinmetz, an NBA analyst for CSN Bay Area, is reporting that the sale of the Sacramento Kings is complete. He reports, via Sulia:

I've heard from reliable source that the Kings' sale to Hansen-Ballmer in Seattle is done deal. Source said price of the sale is $525 million. The source said further that the Maloofs will have no stake or decision-making with Seattle team and are out.

It is worth noting that Steinmetz covers sports teams in the Bay Area, and that local reporters in both Sacramento and Seattle have contradicting reports this morning. As with all Maloof negotiations, it's fair to treat this with a healthy level of skepticism until it starts being confirmed elsewhere.

I personally find it difficult to believe that a difference of $25 million, a difference of 5%, was enough to swing the Maloofs from wanting to maintain decision-making powers to suddenly being out of the picture entirely. This flies in the face of everything we know about how the Maloofs value the prestige of being NBA owners (no matter how much they may tarnish that prestige).

As always, stay tuned and we'll update you as more information comes out.