The owners of the Sacramento Kings have reportedly rejected investor Chris Hansen's offer to buy the team. (AP image)
A noted Sacramento radio personality says investor Chris Hansen offered upwards of $400 million to buy that city's NBA team.

Carmichael Dave claimed on his radio show that sources close to the team say the Maloof family, owners of the Sacramento Kings, rejected the offer from the Seattle billionaire seeking to build a new arena.

A spokesman for Hansen says the investor won't comment on the reports as part of his long-standing position to not discuss any other NBA franchise.

Dave said sources tell him the Maloof family were "looking more to relocate than to sell."

The Maloofs have been rumored to be in talks to move the franchise to Virginia Beach, Virginia.

Hansen earlier this week completed the purchase of enough land in Seattle's SoDo neighborhood to build a new arena if approved by the Seattle City Council. A vote is expected next month.

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