NBA Commissioner David Stern confirmed Wednesday night the league has received a relocation proposal to move the Sacramento Kings to Seattle, the Associated Press reports.
It's been widely reported the investment group led by Chris Hansen and Steve Ballmer plans to bring the team to Seattle, but Stern's comments mark the first time those intentions have been verified.
Hansen's group reached a deal with the Maloof family back in January to purchase a 65-percent share of the franchise for $340 million. An NBA committee is expected to vote on both the sale and the relocation in mid-April.
Meanwhile, Sacramento Mayor Kevin Johnson continues efforts to round up investors who could compete with Hansen's offer and build a new arena in California. But he has yet to name any major investors who would back such a bid.
Stern also told the AP the relocation proposal calls for the team to play "two, years, possibly three" at KeyArena while a new venue is being built.
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