Friday, May 17, 2013

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 be negotiating a sale over a 24-to-48 hour period...

Looks like they were...

RT @sam_amick: NBA Commissioner David Stern says on Kings: "Yes, I think, I think the agreement was signed today..."

All this as Seattle fans hold the outgoing commish responsible for their not getting the Kings this time around...
Amick reports the value of the sale at the US$535-million figure. Mayor KJ tweeted: "The ownership group, the city, and the community have shown the NBA, without any shred of doubt, that the Sacramento Kings belong in Sac"
The NBA is expected to officially approve the agreement next week. The agreement has to be closed by May 31. The official announcement and details of the deal are expected Friday.

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