NBA Commissioner David Stern
David Stern said the Kings future won't be decided for another few weeks. Reuters

Sacramento Kings fans will have to wait a few more weeks to find out where their team will play next season.

NBA commissioner David Stern announced on Wednesday that a decision on the franchise won’t be made for at least two weeks. Several owners recently met and determined that it might not be known until May where the Kings will call their home in the 2013-2014 season.

"I would be charitable to say the first week in May, but it could slide a bit," Stern said. "That's where we are."

The 12 owners will reconvene next week. On Thursday and Friday, they will brief the Board of Govenors, who will ultimately make a decision on the Kings’ future.

Groups from both Sacramento and Seattle are looking to purchase the franchise from the Maloof Family. A group led by hedge-fund manager Chris Hansen, initially, agreed to buy 65 percent of the team. Sacramento mayor Kevin Johnson, however, has put together several investors who are trying keep the team in the city.

Recently, the Seattle investors raised their offer to $550 million, looking to outbid their competitors. The Sacramento group, though, has still made a formal bid and is in contention to land ownership of the club.

Seattle appears to be the most likely destination for the team. Potential funding for a new arena, however, is increasing the possibility of the Kings staying put.

If the Kings are relocated to Seattle, the team will likely be renamed the SuperSonics, replacing the franchise name that left for Oklahoma City in 2008 and became the Thunder. It would be the fifth different city for the current Kings franchise. Before moving to Sacramento in 1985, the club played in Kansas City, Cincinnati, and Rochester.