Sacramento Kings Sold For $535 Million

[Tougie]

Well, I have to admit I was hoping the news would be that this struggling franchise would be moving to Seattle, but obviously they are staying. The infamous Maloof family agreed to sell the franchise to a group of in town investors, led by Vivek Ranadive (who is part owner of the GS Warriors and will be selling his shares). The deal was made late Thursday night and an official announcement should come at any time.

It's just amazing to me, that the purchase price of $535 Million is the highest in NBA history. The new group will have to wait until the end of the month to take over, and the sale is subject to a vote by the NBA's ownership committee.