May 15, 2013


In a 22-8 vote, the NBA’s Board of Governors voted in favor of keeping the Kings franchise in Sacramento. This vote follows the recommendation of the NBA relocation committee. Hedge fund investor, Chris Hansen, and Microsoft CEO, Steve Ballmer, previously engaged in negotiations with the Maloof family (the current franchise owners) to buy the team and move them to Seattle. The Hansen group’s total offer which included  a relocation fee was valued at $625 million.  The NBA is now pushing for a deal with Vivek Ranadive, CEO of TIBCO and Mark Mastrov, founder of 24 Hour Fitness. The Ranadive group of investors has offered $525 million for the franchise.





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