Maloofs Confirm Deal For NBA Kings; Ranadive Group Begins Working
The NBA Kings on Friday "effectively reopened for business," as the Maloof family "confirmed it had agreed to sell the struggling franchise" to the Sacramento-based group led by Vivek Ranadive. The transition to new ownership "got under way with a flourish." Ranadive said that he expects the NBA BOG to "approve the team purchase" early this week. Sacramento Mayor Kevin Johnson said, "We've been holding our breath for one years, two years, three -- we can finally breathe" (SACRAMENTO BEE, 5/18).