Yahoo! Sports NBA columnist Adrian Wojnarowski has the breaking story.

The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

The deal will sell the Kings for approximately $500 million, with the Seattle group seeking relocation to Key Arena for the 2013-’14 season.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

The Seattle group’s plans, with support of the NBA, is to play two seasons in Key Arena before moving into a new Seattle arena, sources say.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

No agreement signed, but one source describes deal as “1st and goal at 1.” Maloofs history of changing course late still makes many uneasy.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

The Maloofs are expected to keep an extremely small percentage of team, but will have no real input or say in franchise, sources say.

— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

Didn’t expect the Maloofs to act this quickly, but it lines up with all of the rumbling coming out of Seattle. Celebration in one town equals heartbreak in another. What will it mean for Sacramento’s future in terms of pro sports? Mayor Kevin Johnson could pivot towards the A’s, though A’s ownership hasn’t shown interest so far.

More as the situation develops.

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Update 2:00 PM – CBS Sacramento reporter Steve Large tweeted something different from the prevailing reports on the way up to Seattle.

Source: Seattle groups offer was rejected by Maloofs. Hmmm. Plot thickening by the minute.

— stevelarge_cbs13 (@largesteven) January 9, 2013

It’s the Maloofs. Expect nothing less than a big, ugly mess.