NBA owners unanimously approve Kings sale to Sacramento group

NBA owners unanimously approve Kings sale to Sacramento group

Credit: NBAE/Getty Images

A shot of the message from the Sacramento Kings to the fans in appreciation for their support before the game between the Los Angeles Clippers and Sacramento Kings on April 17, 2013 at Sleep Train Arena in Sacramento, California.

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by Associated Press and KING 5 News

NWCN.com

Posted on May 28, 2013 at 12:07 PM

Updated Tuesday, May 28 at 12:10 PM

NEW YORK  -- The future of the Kings was officially settled Tuesday when the NBA Board of Governors unanimously approved the sale of the franchise to a Sacramento group.

The move had been expected for more than a week after the Maloof family had reached an agreement with a group headed by TIBCO software tycoon Vivek Ranadive to sell a 65 percent controlling interest in the Kings.

The NBA said in a new release Tuesday that the transaction is expected to close shortly.

NBA owners earlier this month voted 22-8 against allowing the team to relocate to Seattle, effectively ending a bid by a Seattle group led by investor Chris Hansen to buy the Kings.

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