Sacramento Mayor Kevin Johnson says sale of Kings is closePosted by Inside Hoops
Mayor Kevin Johnson arrived home today and said the group led by Silicon Valley executive Vivek Ranadive was close to finalizing a deal to buy the Sacramento Kings.
“It’s going to be close to being signed in the next day or two,” the mayor said at Sacramento International Airport. “I’ll be surprised if we get past the weekend. I feel very confident about that.”
Ranadive is in talks to buy the Kings from the Maloof family after the NBA on Wednesday rejected the franchise’s proposed move to Seattle. NBA Commissioner David Stern said the league was working to close the deal by the end of the week.
Speaking by phone, Kings co-owner George Maloof said negotiations with Ranadive are “going on fine.”
– Reported by Ryan Lillis, Dale Kasler and Tony Bizjak of the Sacramento Bee