(CNN) -- Seattle is set to welcome NBA basketball back to the city following the sale of the Sacramento Kings, in a move which is expected to relaunch the Supersonics franchise.
Chris Hansen, whose group is reported to have purchased a 65% share of the Kings franchise, valued at $525 million, plans to relocate the team to Seattle, which lost its original franchise when owners moved the team to Oklahoma City in 2008.
The deal will see Hansen take the Maloof family's 53% share of the team as well as minority owner Bob Hernreich's 12% stake.