Mayor: Sacramento group's deal to buy Kings 'signed' and money wired
Mayor Kevin Johnson, confirming that the Maloofs have agreed to sell the Kings to Sacramento investors, said today the deal "has been signed on both ends" and "the money has been wired."
Speaking at midtown restaurant Bacon & Butter following a morning segment on News10, Johnson said the deal still hasn't closed but he doesn't see any roadblocks holding up the transfer of team ownership to a group led by Silicon Valley tech executive Vivek Ranadive.
"We're hoping to get it all done within the next week or so and the (NBA) board of governors will vote and I don't anticipate any surprises," he said.
Current co-owner George Maloof said, "It's a difficult day for us, but it's time for a new chapter."
Read more here: http://www.sacbee.com/2013/05/17/5428475/mayor-sacramento-groups-deal-to.html