Wednesday, May 29, 2013
Still no Supersonics
Kings: The NBA Board of Governors unanimously approved the sale of the Sacramento Kings to a group led by TIBCO Software chairman Vivek Ranadive. The league said in a statement that the "transaction is expected to close shortly."
After owners blocked the move of the franchise to Seattle earlier this month, the Maloof family reached an agreement to sell a 65 percent controlling interest in the Kings to Ranadive's group at a total franchise valuation of $535 million.Chris Hansen, who led the Seattle group, told KING-TV that he remains committed "to bringing the Sonics back" to Seattle.