Refresh  
  Page last updated on Sat Aug 01 01:46:03 EDT 2015
TOP NEWS
SACRAMENTO KINGS WERE SOLD TO A LOCAL GROUP
Tue, 21 May 2013 02:30 AM EDT

Sacramento Mayor Kevin Johnson announced to screaming throngs of Kings fans that the deal to sell the NBA franchise to a group led by software entrepreneur Vivek Ranadive has been signed.

The statement at a City Hall rally brings to a close just about 5 months of maneuvering by Johnson to secure a new ownership group, convince the council to commit to building a new downtown arena, and to show the NBA that the capitol city of the most populous state in the nation has the fan base to make the enterprise successful.

”This was one heck of a comeback,” Johnson, an ex NBA All-Star, said on a stage shared with 2 dozen investors, fans and politicians who had worked to keep the franchise in the city.

Last week, NBA owners rejected a bid to move the franchise to Seattle. Investor Chris Hansen, whose agreement to buy the team from the Maloof family and move them to the Pacific Northwest shocked the city in January, fought to acquire the team to the bitter end. He even negotiated to buy a minority share when it became clear the league opposed relocation.

Johnson announced that the deal reached between the Maloofs and the Ranadive group did not include an investment from Hansen.

NBA Commissioner David Stern praised Hansen’s proposal and said the NBA might consider expansion once a new TV deal is in place.

The mayor was conciliatory toward Seattle, but stated that he focused throughout the talks on promoting Sacramento as prospering town with 19 sellout seasons, one of the longest streaks in the NBA.

”Seattle is a great city and we want them to get a team. For us, it was never a competition. It was about our community telling our story,” Johnson said, adding: ”It’s about not letting somebody take something that is not theirs.”

The NBA is expected to officially approve the sale next week. Baseball scores

A person familiar with the deal previously expounded that the Maloofs had reached an agreement to sell a 65% controlling interest at a total franchise valuation of $535 million. The person spoke on condition of anonymity because they weren’t authorized to talk in public.

The plan for the Sacramento Kings’ future contains a $447 million downtown arena that’ll be built on at the western gateway to the city near the Sacramento River.

The Sacramento ownership group also includes 24 Hour Fitness founder Mark Mastrov, former Facebook senior executive Chris Kelly and the Jacobs family that owns communications giant Qualcomm.


Sponsored Links

Download Printable Schedules
Now you can download and print schedules for each sport so you can plan ahead and track your results.
UPDATED:
BASEBALL 6/5/2015 - 8/12/2015
TOP TEN WAGERS
RK Team
1
Kansas City Royals
2
St Louis Cardinals
3
Baltimore Orioles
4
Baltimore Orioles
5
San Francisco Giants
08/01/2015
MLBRoyals vs Blue Jays10:05 AM PST
MLBRays vs Red Sox10:35 AM PST
MLBAngels vs Dodgers1:05 PM PST
UFCG Cannetti vs H Viana4:00 PM PST
MLBBraves vs Phillies4:05 PM PST
MLBTigers vs Orioles4:05 PM PST
MLBPirates vs Reds4:10 PM PST
MLBCubs vs Brewers4:10 PM PST
MLBPadres vs Marlins4:10 PM PST
MLBNationals vs Mets4:10 PM PST
MLBYankees vs White Sox4:10 PM PST
MLBMariners vs Twins4:10 PM PST
MLBDiamondbacks vs Astros4:10 PM PST
MLBRockies vs Cardinals4:15 PM PST
UFCV Miranda vs C Hester4:25 PM PST
MLBGiants vs Rangers5:05 PM PST
UFCL Issa vs Iuri Alcantara5:05 PM PST
UFCNordine Taleb vs W Alves5:25 PM PST
UFCR Cavalcante vs Patrick Cummins5:45 PM PST
MLBIndians vs Athletics6:05 PM PST
UFCN Magny vs D Maia6:20 PM PST
UFCJ Aguilar vs C Gadelha7:00 PM PST
UFCA Silva vs S Palelei7:20 PM PST
UFCA Rodrigo Nogueira vs S Struve7:45 PM PST
UFCReginaldo Vieira vs Dileno Lopes8:10 PM PST
UFCGlaico Franca vs Fernando Bruno8:35 PM PST
UFCA Rogerio Nogueira vs M Rua9:00 PM PST
UFCB Correia vs R Rousey9:30 PM PST

x