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nba board of governors
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Incoming Sacramento Kings owner Vivek Ranadive is already making moves to rebuild the fallen franchise.
The NBA Board of Governors unanimously approved the sale of the Sacramento Kings on Tuesday to a group led by TIBCO Software chairman Vivek Ranadive.
A group led by investor Chris Hansen has a deal to buy the team. Hansen hoped to move the franchise to Seattle and rename it the SuperSonics. The original Sonics were moved to Oklahoma City in 2008 and were renamed the Thunder.
If the NBA Board of Governors denies the pending sale and relocation of the Sacramento Kings, the Seattle group seeking to purchase the franchise has a backup deal with the Maloof family.
Chris Hansen has increased his total valuation of the Sacramento Kings from $550 million to $625 million in another attempt to sway NBA owners to allow him to buy the franchise and move it to Seattle.
The recommendation has been made, the vote is set and the Sacramento Kings seem all but assured of staying in California's capital city.
Here they stay, for now.
The NBA says its relocation committee has voted unanimously to recommend that owners deny the application for the Sacramento Kings to relocate to Seattle.
Here they stay.