Yahoo! Sports said Wednesday the Maloof family, which owns the franchise, is about to sell the Kings to Seattle financier Chris Hansen for $500 million. However, citing a source close to the team, the Bee said a report that the transaction is "officially a done deal" was inaccurate.
The report said Hansen plans to build a new arena in Seattle, with the Kings playing two seasons in Key Arena until the new building is ready.
The Maloof family declined comment on the report, the Bee reported.
The Maloofs have publicly said they were not interested in selling the Kings but they and city leaders have been frustrated in their efforts to put together a workable plan for a new arena in Sacramento.