For over a year, the Sacramento Kings have looked into the possibility of relocating.

The organization had serious discussions about moving the team to Anaheim in 2011. The Maloofs, the owners of the Kings, eventually agreed to keep the team in Sacramento for the 2011-12 season, but the family is still considering playing elsewhere.

According to the Hampton Roads Business Journal, the Kings are moving, but they are not staying in California. Philip Newswanger and Bill Cresenzo are reporting that the team might move to Virginia Beach.

The Business Journal says a deal would hinge on a guaranteed 25-year lease on a new arena that would be guaranteed by Comcast. The report also states that the move will be announced by city officials and the Maloof family on Wednesday, Aug. 29.

While the report seems to indicate that the Kings are as good as gone, Joe Maloof is denying the rumor.

"We haven't talked to Virginia Beach," Joe Maloof told CBS13 in Sacramento.

Kings spokesman Erick Rose says that the organization has spoken to differnet cities about relocating the team, but Virginia Beach isn't one of them.

"The Kings have been approached by numerous cities interested buying the team and relocating it. We are not going to discuss which cities have approached the team and are not going to comment on every rumor. I can tell you that the Kings are 100 percent focused on putting a winning team on the court," said Rose.

Even if the Kings don't plan on moving across the country, Virginia Beach could be getting a professional sports team in the near future. Mayor Will Sessoms has stated that Comcast and Live Nation have approached him about building a new arena.

Jason Jones, Kings beat writer for the Sacramento Bee, confirms Maloofs claims.

"FWIW source says Kings are not moving to Virginia," tweeted Jones.

A few NBA teams have relocated in the past few years.

The Nets will begin playing in Brooklyn this upcoming season, moving from New Jersey. In 2008, the SuperSonics moved from Seattle to Oklahoma City, changing the team's name to the Thunder.

A powerhouse in the late 1990's and early 2000's the Kings haven't made the playoffs since 2006. They finished last in the Pacific Division this past year with a 22-44 record.