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Started By
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Sacramento group, Maloof family reach deal for Kings for $535 million
Posted on 5/16/13 at 11:45 pm
Posted on 5/16/13 at 11:45 pm
GTFO Maloofs
quote:
A Sacramento investors group has reached a deal with the Maloof family to buy the Kings for an NBA record valuation of $535 million, a source has told The Sacramento Bee.
The agreement, reached today, is expected to be announced sometime Friday. If the NBA approves the deal, escrow is expected to close at the end of May.
The source, close to the deal, said the Maloof family was eager to "turn the page" and was pleased they were able to sell to a group that will keep the team in Sacramento.
The source said more details will be released Friday, including statements from partners in the deal.
A spokesman for the Sacramento investment group, led by Vivek Ranadive, said he could not confirm that a sale had been completed. A spokesman for the Maloof family also said he could not comment.
This post was edited on 5/17/13 at 10:16 am
8
Posted on 5/16/13 at 11:46 pm to BananaHammock
Feel bad for Seattle.
Posted on 5/16/13 at 11:46 pm to BananaHammock
So they gave up like $140 mill to stay in sacramento over seattle, correct?
Posted on 5/16/13 at 11:49 pm to BananaHammock
In this case Seattle is Olajuwon
Posted on 5/16/13 at 11:56 pm to BananaHammock
Everyone should watch the Sonicsgate documentary. The last line really struck a chord with me. One of the Seattle citizens (I think he was an artist) said that he would love to get back a team in his great city, but he does not want to put another city through the heartbreak they went through.
Posted on 5/16/13 at 11:56 pm to BananaHammock
Theres something really fricked up that they can basically keep someone from making an extra 150 mil
Posted on 5/17/13 at 12:22 am to BananaHammock
im not familiar with the sonics sell but seattle could have done more to keep them right?
Posted on 5/17/13 at 7:39 am to BananaHammock
quote:
Sacramento Kings Sold to Maloof family for $535M
what am i missing here with this thread title?
Posted on 5/17/13 at 8:11 am to BananaHammock
quote:sold to or sold by?
Sacramento Kings Sold to Maloof family
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