Deals
Maloofs to Sell NBA’s Kings, Move Team to Seattle, ESPN Reports
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The Maloof family agreed to sell a 65 percent interest in the National Basketball Association’s Sacramento Kings to a Seattle-based group led by Microsoft Chief Executive Officer Steve Ballmer and hedge-fund manager Chris Hansen, ESPN reported.
The deal, which still needs league approval, values the team at $525 million, according to the Walt Disney Co. unit, which cited unidentified people in the league. The 65 percent is composed of a 53 percent stake owned by the Maloof family and a 12 percent stake owned by minority owner Bob Hernreich, ESPN reported.