After NBA leaders refused to allow Sacramento to move to Seattle, where it was supposed to be sold to a group of businessmen, brothers Joe and Gavin Maloof, owners of the Kings, will sell the club anyway.
They will receive 535 million dollars from local businessmen led by software magnate Vivek Ranadiv, and this will be a record sale of an NBA team, Sacramento media reported.
That group will keep the team in Sacramento and will immediately begin work on building the long-awaited downtown arena.
The new owners of the club will be in addition to Ranadive, who will be the first NBA majority owner of Indian origin, the Jacobs family, which manages the communications giant Qualcomm, magnate Raj Batal, Mark Mastrov and the former CEO of "Facebook" Chris Kelly.
This ends the Maloof family era in Sacramento, which began in 1999.
The team became one of the best in the league with Chris Weber, Vlado Divac, Jason Williams, Mike Bibby..., but which, unfortunately, failed to win a championship ring.
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