SACRAMENTO, May 17 (UPI) -- The owners of the Sacramento Kings have reached an agreement to sell the NBA team to a group led by software magnate Vivek Ranadive.
USA Today reported the Maloof family, which currently owns the Kings, reached a deal with Ranadive's group to keep the team in Sacramento under the new owners, who have agreed to pay $535 million to the Maloofs.
"It won't be final, final until tomorrow," Ranadive said Thursday night. "I had a sense earlier today" that it would be completed.
"It's going to be exciting. We're going to build a global brand with the Kings. We're going to give the fans the product that they deserve. There's a lot of work to be done," he said.
The NBA Board of Governors previously voted 22-8 to reject a proposal to relocate the team to Seattle.