Sacramento Mayor Kevin Johnson said an investment group led by Vivek Ranadive has signed a contract and wired money to purchase the National Basketball Association’s Sacramento Kings, the Sacramento Bee reported.
Johnson, speaking this morning, said the deal still has to close, but that he didn’t see any difficulties ahead, according to the Bee.
Johnson has scheduled a 10 a.m. Sacramento time press conference to discuss the agreement that will keep the franchise in the city. NBA owners this week rejected the team’s proposed move to Seattle and $625 million sale to Valiant Capital founder Chris Hansen.
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