Found May 17, 2013 on 5TH QUARTER MAGAZINE:
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 [...]

Pieced-together notes show reasons for keeping Kings in Sacramento

After the Board of Directors declared that the Kings would be staying in Sacramento, USA Today's Sam Amick pieced together notes explaining the reason why.

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.

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...

Maloofs Agree to Sell Kings to Sacramento Group

  The Maloofs wanted to sell the Sacramento Kings to the Seattle group, who offered to pay more than the local group for the team but the NBA rejected the deal so here we are. Per Brian Windhorst of ESPN, the Kings are going to remain in Sacramento after the Maloofs agreed to sell the team to a local group. Software billionaire Vivek Ranadive came to an agreement to purchase 65...

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 sell Kings to Sacramento group in record deal

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...

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...

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...

The Kings officially not moving to Seattle

It was all but a done deal the Sacramento Kings were headed to Seattle, but this is not the case now. On Wednesday the NBA owners voted against the move that would have sent the Kings from Sacramento to Seattle. The owners rejected the move with a final vote of 22 to 8. It was sad story when the Seattle Supersonics left Seattle and went to Oklahoma City. The Supersonics left behind...

Kings Not Expected To Keep Petrie, Could Consider Mullin

With Vivek Ranadive agreeing to purchase the Sacramento Kings, Geoff Petrie is not expected to be retained as chief decision-maker on basketball personnel moves. One candidate for the position could be Chris Mullin, who was in the Golden State Warriors' front office from 2004 until 2009. Ranadive and Mullin have met several times, but have not discussed the possibility of working...

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.

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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