Originally posted on Celtics Life  |  Last updated 5/17/13
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 ESPN.com. 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 Kings are staying in Sacramento.
MORE FROM YARDBARKER

Report: Ariza tried to go after Griffin, restrained by teammates

Harrison wants trade if Pirates are not committed to winning

Brees on future with Saints: 'I'll be here as long as they'll have me'

Report: DeAndre Jordan wants to be traded to Rockets

Source: Lakers ‘frustrated’ Lonzo Ball won’t stand up to his father

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Report: Steelers owner facing pressure to fire Mike Tomlin

Leonard Fournette involved in three-car accident, not injured

Ben Roethlisberger: Running QB sneak is coach's decision

AJ McCarron thinks he would've succeeded with Browns

Report: Cavs players starting to doubt team issues will be fixed

Bryce Love to return to Stanford for senior year

The 'All Jolly Rogers at half-mast' quiz

Case Keenum deserves better than the also-ran description

Best players to debut on the 2018 Baseball Hall of Fame ballot

Best performances in the history of NFL Conference Championship games

2018 NFL Mock Draft

Grading the deal: Pirates trade Andrew McCutchen to Giants

The NBA's deep middle class emerges

Is Mike Moustakas that much better than Travis Shaw?

The 'It's a walk-off!" quiz

Sports & Politics Intersect: After all the bluster, college football sticks to sports

Sabres look to be biggest sellers ahead of NHL trade deadline

Who stands to benefit the most from the slow MLB offseason?

Kings News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Yardbarker Privacy Policy and Terms of Service. You can opt out at any time. For more information, please see our Privacy Policy.

The 'All Jolly Rogers at half-mast' quiz

Best players to debut on the 2018 Baseball Hall of Fame ballot

Case Keenum deserves better than the also-ran description

The 'It's a walk-off!" quiz

Best performances in the history of NFL Conference Championship games

Sports & Politics Intersect: After all the bluster, college football sticks to sports

The 'Home field disadvantage' quiz

NHL Weekender: Bruins, Flames, Jets are taking flight

Sabres look to be biggest sellers ahead of NHL trade deadline

The 'How much ya bench?' quiz

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker