Maloofs Agree to Sell NBA's Kings to Seattle Group 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 percent of the franchise, which is valued at a total price of $525 million, and move the team to Seattle and restore the SuperSonics name. The deal will cost the Hansen group a little more than $340 million. The person spoke to The Associated Press on condition of anonymity because the deal was waiting approval. The sale figure works off a total valuation of the franchise, which includes relocation fees. The Maloofs will get a $30 million non-refundable down payment by Feb. 1, according to the deal, the person said. The deadline for teams to apply for a move for next season is March 1. FILE - In this April 26, 2012 file photo, the Maloof brothers, Phil, left, George, center and Gavin, co-owners of the Sacramento Kings, watch their team against the Los Angeles Lakers during an NBA basketball game in Sacramento, Calif. The only thing stopping the Kings from a sale and move to Seattle 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, Jan. 21, 2013.. (AP Photo/Rich Pedroncelli, FILe) Close We have always appreciated and treasured our ownership of the Kings and have had a great admiration for the fans and our team members. We would also like to thank Chris Hansen for his professionalism during our negotiation. Chris will be a great steward for the franchise," Kings co-owner Gavin Maloof said in a statement on behalf of the family. Johnson, himself a former All-Star point guard in the NBA, said in a statement that the city remained undeterred. The Kings were in New Orleans preparing for a matinee game against the Hornets when news came down of the agreement. It's just a little weird (but) at the same time I love Sacramento. I love everything about it. Love the fans; the organization just brought me in with open arms. That's all I really know in this league is Sacramento," said Kings guard Isaiah Thomas, a Tacoma, Wash., native. But then I am from that area back home. It's just kind of a different situation. Whatever I say about Seattle, Sacramento fans might be mad at me, and whatever I say about Sacramento, Seattle fans might be mad at me. I just love both cities. Added Kings coach Keith Smart, "For us, I'm going to get on the floor and coach the game and players are going to get out there and make shots, take shots, make mistakes, make great plays. And then we'll deal with it as we do off the floor.