Sacramento Kings Staying in Sacramento
17 May, 2013
The owners of the Sacramento Kings basketball franchise have struck a deal to sell the sought-after California team to an local investor group led by tech titan Vivek Ranadive, a spokesman for Sacramento Mayor Kevin Johnson said on Friday.
The deal by an investor group that includes former Facebook Inc executive Chris Kelly and 24-Hour Fitness founder Mark Mastrov, among others, comes after the National Basketball Association denied a proposal to move the Kings franchise to Seattle following months of bitter wrangling among potential suitors.
Reuters
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