Thursday, 16 May 2013

AP Source: Maloofs reach agreement to sell Kings (Yahoo! Sports)

SACRAMENTO, CA - APRIL 26: Owners George Maloof (L) and Gavin Maloof (R) of the Sacramento Kings watch their team face off against the Los Angeles Lakers on April 26, 2012 at Power Balance Pavilion in Sacramento, California. (Photo by Rocky Widner/NBAE via Getty Images)

A person familiar with the deal says the Maloof family has reached an agreement with a Sacramento group headed by TIBCO software tycoon Vivek Ranadive to sell a 65 percent controlling interest in the Kings at a total franchise valuation of $535 million.




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