NBA Approves Sale of Kings to Sacramento Group

May 28, 2013 2:34 PM

NEW YORK (AP) - 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.


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