Sacramento Kings 11th most valuable NBA franchise

Sacramento Kings 11th most valuable NBA franchise

Credit: Getty Images

A general view of Sleep Train Arena in Sacramento, California.

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by TRAVIS PITTMAN / KING 5 News

KING5.com

Posted on January 23, 2013 at 1:49 PM

Updated Tuesday, Nov 5 at 10:04 AM

The Sacramento Kings, which could soon be the Seattle SuperSonics, are ranked as the 11th most valuable NBA franchise, according to Forbes Magazine.

The article, published Wednesday, lists the New York Knicks as the most valuable team, worth $1.1 billion, followed by the Los Angeles Lakers at $1 billion and the Chicago Bulls at $800 million.

The Maloof family has reached an agreement to sell the Kings to a Seattle group led by Chris Hansen and Steve Ballmer for a reported $525 million. If the sale and relocation are approved this spring, the team would play in KeyArena starting this fall and move into the proposed SODO arena two years later.

Sacramento officials are working to find local ownership to match the offer and keep the team there.

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