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Kings being sold and moved to Seattle, report says

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It's a sad day in pro sports when a passionate fan base loses it's team. While the deal isn't done, reports strongly indicate that Sacramento Kings owners are close to finalizing a deal that would sell the team to a group in Seattle. There are a few bright sides in the deal.

Jed Jacobsohn

There is a slight upside here with the return of the NBA to a great sports city and the NBA dumps one of the worst ownership groups in the game.

Here are the main points from our friends at Sactown Royalty:

Woj: Kings Being Sold to Seattle for $500 Million - Sactown Royalty
As I write this, my hands are shaking. News that we have been dreading for a few years now appears to have arrived in the form of this report from the well-respected Adrian Wojnarowski of Yahoo! Sports.

Rough.

The deal is reportedly worth $500m. It makes you wonder what Robert Sarver, who's investor group paid about $400m for the Suns, could get for this team in Phoenix. Fortunately, there's not even a hint of the Suns leaving town.

[UPDATE by Seth Pollack, 01/09/13 4:09 PM EST ]

You can now sign a petition to help try and keep the Kings in Sacramento. Details here.