Originally written on The Sports Bank  |  Last updated 5/17/13
In the words of Dr. Dre: “Sacramento! Sacramento where you at?…..California Love!” On Wednesday, NBA owners officially rejected a bid to relocate the Sacramento Kings to Seattle. Late Thursday night/early Friday morning  (depending on your time zone) team owners agreed to sell the franchise to a Sacramento based group, sources told ESPN.com. Software billionaire Vivek Ranadive purchased 65 percent of the Sacramento Kings from the Maloof family for approximately $348 million. The Kings’ total valuation in the sale is $535 million, an NBA franchise record. So if you’re hoping for a return of the Seattle Supersonics; sorry. You’re out of luck. The Sacramento Bee first reported that a deal had been reached. With the $60 million debt to the city of Sacramento, plus debts owed to the NBA, the Maloofs should net more than $200 million from this sale. Quoting Dr. Dre again, because really we can never quote him enough: “hella Swiss or mozzarella, pockets swella, getting money like a bank t...
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