Kelly Joins Group Matching Offer in NBA Kings’ Sale, Bee Reports
A former Facebook Inc. (FB) executive has joined a partnership that said it will match an offer to buy the Sacramento Kings, the Sacramento Bee reported, citing a person familiar with the deal.
The group, which added former Facebook Chief Privacy Officer Chris Kelly as a member, is trying to keep the National Basketball Association team from being purchased by competing bidders who want to move the Kings to Seattle.
Valiant Capital Management LP founder Chris Hansen and Microsoft Corp. (MSFT) Chief Executive Officer Steve Ballmer are members of the group that have an agreement with the Maloof family, current owners of the Kings, to purchase a majority interest in the team for $341 million -- including a $30 million nonrefundable deposit. They have applied to the league for relocation to Seattle.
The NBA Board of Governors plans to vote next week to determine the winning bidder.
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