Originally posted 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 teller.” The official announcement from the Sacramento Kings and league is expected sometime Friday. Paul M. Banks is the owner of The Sports Bank.net, an author and regular contributor to MSN, Fox Sports , Chicago Now, and Walter Football. Banks has appeared on the History Channel, as well as Clear Channel, ESPN and CBS radio all over the world. President Barack Obama follows him on Twitter (@PaulMBanks) The post Sacramento Kings staying in town; not moving to Seattle appeared first on The Sports Bank.Net.

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Report: ‘Multiple’ teams open to giving Noel max contract

Tiger Woods arrested on DUI charges

Report: Clippers ‘overwhelming favorite’ to keep Chris Paul

Giants owner: Signing Kaepernick would anger fans

Mike Trout to undergo MRI after suffering thumb injury

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

John Wall: Bench was cause of Wizards’ ‘downfall’

Arum says Pacquiao would fight McGregor if Mayweather won't

Aaron Judge hits first grand slam of his career

David Stern: Lakers could have had Chris Paul, GM panicked

Brandon Jacobs vows to 'expose' Jim Harbaugh, get him fired

Mike Zimmer won’t retire even if right eye goes blind

Meet your Stanley Cup finalists: Nashville Predators

Getaway Day: There's a murderer's row in the NL West

Journey to the Stanley Cup Final: Pittsburgh Penguins

Best of Yardbarker: Ladies and gentlemen, start your engines

The 'More like Whiffer, Texas Ranger...amirite?' quiz

The Rewind: Vince Carter's graduation day celebration that wasn't

Manu Ginobili gave life to the San Antonio Spurs

Stanley Cup Final: A David vs. Goliath matchup that's not as lopsided as it may appear

Why the Indianapolis 500 is called 'the greatest spectacle in racing'

The 10 best sports docs available for streaming

Box Score 5/26: Bring on the Finals

Why wait? Our too soon Cavaliers-Warriors NBA Finals preview

NBA 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 Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Meet your Stanley Cup finalists: Nashville Predators

Getaway Day: There's a murderer's row in the NL West

Journey to the Stanley Cup Final: Pittsburgh Penguins

Best of Yardbarker: Ladies and gentlemen, start your engines

The 'More like Whiffer, Texas Ranger...amirite?' quiz

Stanley Cup Final: A David vs. Goliath matchup that's not as lopsided as it may appear

Manu Ginobili gave life to the San Antonio Spurs

The Rewind: Vince Carter's graduation day celebration that wasn't

The 10 best sports docs available for streaming

Kicking It: East is East, and West is West

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