"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 league said.

WSJ: Sacramento Kings Moving to Seattle to Become Reborn SuperSonics

In the statement NBA Commissioner David Stern's office released Monday, the league confirmed it had received "an executed Purchase and Sale Agreement for the transfer of controlling interest" in the Kings from the Maloof family.

WSJ: Seattle Hopes for Boost In Pro-Team Franchise

But the prime broker has to locate the shares, which then have to "deliver" or be given to the trader before the sale is executed.

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