Found May 17, 2013 on Celtics Life:
ESPN: 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 Software billionaire Vivek Ranadive came to an agreement to purchase 65 percent of the Kings from the Maloof family for approximately $348 million, sources said. The Kings' total valuation in the sale is $535 million, an NBA record. An official announcement is expected Friday. The Maloofs, who have owned the team since 1998, had hoped to sell the stake to a group of Seattle businessmen that was offering $406 million for their shares. That's a pretty hefty price tag. I wonder if it comes with the #1 pick in the 2014 NBA lottery (aka. Andrew Wiggins), similar to the Hornets pending owners landing the #1 pick last year. I assume this year's #1 pick is still headed to Orlando. Just kidding. Everyone knows the NBA doesn't do stuff like that. I'm happy the ...

Maloofs agree to sell Kings to Ranadive group

NBA Commissioner David Stern got his wish as the Maloof family agreed to sell the Sacramento Kings for a franchise valuation of $535 million, which will be a league record, to a local group led by software magnate Vivek Ranadive.

Kings owner chased into closet?

Sacramento Kings owner George Maloof reportedly was chased into a closet by the media after the NBA owners had a relocation vote.

5 Ways Chris Hansen’s Investment Group Could’ve Convinced the NBA to Move the Kings to Seattle

On May 15th the NBA rejected a group of investors’ bid to move the Sacramento Kings to Seattle, Washington, the home of the one-time Seattle Supersonics.  The team, the league’s Board of Governors (*Author’s note: this is the part where I started imagining Marc Cuban wearing a powdered wig and shouting out “Nay, good sir!  Nay!” The post 5 Ways Chris Hansen’s Investment...

Sacramento Kings owner George Maloof got chased into a closet by reporters at NBA BOG meeting

Just when you thought that the Sacramento Kings saga couldn’t get anymore insane, one of their owners got chased into a closet by members of the media attending the NBA Board of Governors meeting in Dallas. After George left a meeting regarding the possible relocation of the Sacramento King to Seattle, he got ambushed by a group of reporters and the fine folks over at Sactown Royalty...

Kings relocation to Seattle denied, team will stay in Sacramento

The Sacramento Kings are staying in California's capitol. That comes after the NBA's Board of Governor rejected the relocation bid which would have moved the team to Seattle. The vote was 22-8 in favor of keeping the team in Sacramento. NBA Commissioner David Stern did not reveal which teams voted to allow the move. Stern said the next step is meeting with the Maloofs...

Sacramento Kings Look Like They’re Staying Put After Maloof Family Reportedly Reaches Agreement With Local Group

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. The person, speaking on condition of anonymity to The Associated Press late Thursday night because they weren’t authorized to...

Maloofs Agree To Sell Kings To Ranadive-Group For $535M

The Maloofs have agreed to sell the Sacramento Kings to a group led by Vivek Ranadive for $535 million, according to a source. The Maloofs had hoped to sell the Kings to a group led by Chris Hansen and Steve Ballmer, but the NBA's Board of Governors voted against the sale by a 22-8 margin. The Hansen-Ballmer group intended to move the Kings to Seattle, which lost their NBA franchise...

DEVELOPING: Maloofs Sell Kings To SacTown Group, Announcement Friday

((HT: Chris Daniels/KING5)) From Daniels and his twitter feed... Two sources now confirming sale of #NBAKings by Maloofs to @Vivek group. And all this a day after George Maloof said he was under no pressure to sell the Sacramento Kings franchise to the Ranadive-led group, and at the same time, Sacramento Mayor Kevin Johnson was under the impression that the two groups would...

Sale of Kings to Sacramento group signed

Well that escalated quickly. Less than two days after the NBA Board of Governors voted down the Sacramento Kings relocation, the Maloof family has agreed to sell the team to the group led by Golden State Warriors minority owner Vivek Ranadive. According to a Sacramento Bee report, both sides have signed the agreement and the money has been wired. It was not made clear whether...

Mike Malone Expected To Be Candidate For Kings

Mike Malone is expected to be a leading candidate for the Sacramento Kings' head coaching position. Keith Smart is not expected to be retained, according to a report. Malone is familiar with prospective Kings' owner Vivek Ranadive due to their connection with the Golden State Warriors.

Owners reject Kings' move to Seattle

NBA owners voted Wednesday to reject the Sacramento Kings' proposed move to Seattle, the latest in a long line of cities that have tried to land the franchise.

The Maloof family have agreed to sell the Sacramento Kings to a group headed by a software billionaire

With the NBA rejecting the move of the Sacramento Kings to Seattle, the Maloof family had to go to Plan B.  Or is this Plan C?  D?  Z?  Anyway, the [...]

Hansen-Ballmer Decline Refund Of $30M Non-Refundable Deposit From NBA's Other Owners

The NBA owners offered to refund a $30 million non-refundable deposit made by the Chris Hansen-Steve Ballmer ownership group that was made when entering into a purchase agreement with the Sacramento Kings. The Seattle-based group had agreed to buy the team from the Maloof family. Hansen and Ballmer declined to accept the offer, which would have come from each of the NBA's 30 owners.
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