• Sources: Maloofs reach record deal for Kings

    Summary of 5 articles · Updated May 17, 2013
    If Ranadive buys 65 percent of the Kings under the purchase price with the Maloofs, he would pay them $347.75 million. Just a day after NBA owners officially rejected a bid to relocate the Sacramento Kings to Seattle, the team's owners have agreed to sell the Kings to a Sacramento-based group, sources told ESPN.com. Ranadive said Wednesday in Dallas that his group had put $341 million the original 65 percent share of the team under the $525 million valuation into escrow, a key requirement for the Maloofs to agree to a sale. Responding to the wishes of NBA Commissioner David Stern, the Maloof family completed the sale of the Sacramento Kings to a local group led by software magnate Vivek Ranadive, on a franchise valuation of $535 million, which will be a league record, a league source confirmed late Thursday. The person, speaking on condition of anonymity to The Associated Press late Thursday night because they weren't authorized to talk publicly, said there are about 30 investors in the group put together by Sacramento Mayor Kevin Johnson, a former All-Star guard.
    Source: ESPN.com
    • Maloofs reach agreement to sell the Sacramento Kings to Vivek Ranadive’s local ownership group

      One day after the NBA's Board of Governors voted against a sale to an ownership group that would turned the Sacramento Kings into a new incarnation of the Seattle SuperSonics, it appears that the franchise will stay in its current home over the long ter…
      Source: yahoo.com
    • The Kings Are Staying In Sacramento

      The Maloofs are out. According to the Sacramento Bee, the brothers came out of hiding long enough to to sell the Kings to a group for $535 million. The group, led by Silicon Valley billionaire and Golden State Warriors minority owner Vivek Ranadive, wil…
      Source: deadspin.com
    • Maloof family agrees to sell Kings for record $535 million

      Responding to the wishes of NBA Commissioner David Stern, the Maloof family completed the sale of the Sacramento Kings to a local group led by software magnate Vivek Ranadive, on a franchise valuation of $535 million, which will be a league record, a le…
      Source: nba.com
    • Report: Maloofs reach agreement to sell Kings

      A person familiar with the deal says the Maloof family has reached an agreement with a Sacramento group headed by TIBCO software tycoon Vivek Ranadive to sell a 65 percent controlling interest in the Kings at a total franchise valuation of $535 million.
      Source: nba.com

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