On the site SonicsArena.com, Chris Hansen released the following statement:
We are happy to announce that we have entered into a binding agreement with the Maloofs to purchase a controlling interest in the Sacramento Kings NBA franchise. The sale is obviously subject to approval by the NBA Board of Governors, and we look forward to working with the League in the coming months to consummate the transaction.
While we are not at liberty to discuss the terms of the transaction or our plans for the franchise given the confidential nature of the agreement and NBA regulations regarding public comments during a pending transaction, we would just like to extend our sincerest compliments and gratitude toward the Maloof family. Our negotiations with the family were handled with the utmost honor and professionalism and we hope to continue their legacy and be great stewards of this NBA franchise in the coming years and decades.
Gavin Maloof, Kings co-owner speaking on behalf of the Maloof family:
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 thank Chris Hansen for his professionalism during our negotiation. Chris will be a great steward for the franchise.
On Monday morning, the NBA issued the following statement:
The NBA received an executed Purchase and Sale Agreement for the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen. The proposed transaction is subject to the approval of the NBA Board of Governors and has been referred to the Board's committee process for review.
Mayor Mike McGinn:
This is an exciting day for our city and for Sonics fans everywhere. I congratulate Chris Hansen and his investment team. While there is more work ahead, this is a major step toward bringing the Sonics home.
Seattle City Councilmember Tim Burgess:
This is fantastic news and a huge win for Seattle and our entire region. Throughout our Council work to improve the proposal, Chris Hansen negotiated fairly and has kept his word. He is doing exactly what he told us he would do working to return NBA basketball to Seattle. There is more work ahead, but this is a giant leap toward bringing the Sonics back home to Seattle.
Metropolitan King County Councilmember Joe McDermott, chair of the Council's Budget and Fiscal Management Committee, released this statement on the sale agreement between the owners of the Sacramento Kings and investor Chris Hansen:
I'm thrilled Mr. Hansen and his partners acquired a team. We are closer than ever to having the Sonics play in Seattle again.
Yet, this is just one step in many left before the new arena will be built.
As we agreed last year, an economic impact analysis and a full environmental review must be completed before the arena deal is finalized.
The County, City and Mr. Hansen will continue to work together until the opening tip-off.
King County Executive Dow Constantine today congratulated Chris Hansen and his investment partners on reaching agreement for purchase of an NBA franchise:
The return of our hometown team is now within reach.
I was a high school kid in the spring of 1979 when I joined 300,000 fellow fans on the streets of downtown Seattle to celebrate our Supersonics winning the NBA Championship. Those were great days for our community.
Thanks to Chris Hansen and his investment partners Steve Ballmer, Peter and Erik Nordstrom, and the strength of regional partnerships and our collective can-do spirit, we can now look forward to celebrating the day we can say, Welcome home, Sonics!