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Maloofs and Sac Group Reach Kings Agreement

Maloofs and Sac Group Reach Kings Agreement
Posted May 16th, 2013 @ 9:51pm by KFBK News

We're expecting more details about an apparent deal reached between the Sacramento investment group and the Maloofs over the Kings. Published reports say they have agreed on a $535 million asking price for the team... which is an NBA record. Sources say that details of the agreement will be released at some point Friday. If the NBA approves the deal... escrow will close some time before the end of the month. The reports say that the Maloofs are eager to quote "turn the page" and are happy that the team will stay in Sacramento.

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