Jan 10, 2013; Sacramento, CA, USA; Sacramento Kings fans hold signs against the Maloof

In the aftermath of the crazy Tuesday that saw reports circulate that the Kings were about to be sold and moved to Seattle, it turns out that the frenzy was very overhyped and premature.

George Maloof, one of the Maloof brothers that own the Kings, told a local Sacramento news station that a deal to sell the Kings was “not close.”

Earlier today, it was reported that not even a formal offer had been made from the Seattle investment group to purchase the Kings, with sources saying that the talks between the two sides were only “conceptual.”

Sacramento’s mayor Kevin Johnson has vowed to “fight like crazy” to keep the Kings in town, and will reach out to investors who are willing to buy the team without relocating it.

Even if the Kings-to-Seattle deal was finalized, it would have to be approved by the NBA’s board of governors with the advice of commissioner David Stern.

Stay tuned to Golden Gate Sports as we keep you updated with the latest on the Sacramento Kings’ situation.