Basketball: Kings NBA franchise looks bound for Seattle

SEATTLE (AP) - Nearly five years after their colours and history were packed away into storage and their NBA franchise relocated, the SuperSonics are one significant step closer to returning to Seattle.

And the Kings are on the edge of leaving Sacramento.

All that appears to stand in the way now is approval by NBA owners.

The Maloof family has agreed to sell the Kings to a Seattle group led by investor Chris Hansen, the league confirmed in a statement Monday morning. The deal is still pending a vote by the NBA Board of Governors.

A person familiar with the decision said that Hansen's group will buy 65 per cent of the franchise, which is valued at US$525 million (S$644 million), and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than US$340 million. The Maloofs will have no stake in the team.