Deal Reached To Sell Kings To Sacramento Group

SACRAMENTO (CBS13) — Sacramento Mayor Kevin Johnson announced that the sale of the Sacramento Kings was officially done at a Friday morning press conference.

“The community rose up and did what nobody except for the folks in this town and this region thought we could do,” said Johnson to a large crowd of fans and supporters.

The Maloofs and the mayor’s assembled investor group — led by Vivek Ranadivè — reached an agreement to sell the Sacramento Kings for $535 million.

Continue reading at CBS Sacramento.

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