Vivek Ranadivé expects a Kings purchase deal by the end of the week

USA TODAY Sports

The next owner of the Sacramento Kings expects to reach a deal in the next few days. Lawyers for the two sides exchanged documents on Wednesday.

Relocation has been rejected. That's the second major step toward securing a permanent future for the Kings in Sacramento. (The first was finding a local ownership group.) The third major step: get the Maloofs to sell the team to the local investors. George Maloof made some vaguely threatening comments about keeping the team. Given that four months ago the Maloofs signed right up to sell the team for a $525 million valuation, selling for that valuation right now shouldn't be an issue. But this is the Maloofs, so our hearts refuse to believe sanity will reign.

This report from The Bee is, thus, encouraging.

One person close to the talks revealed late in the day that attorneys between the two sides had been talking "seriously" throughout the day, even before the NBA board of governors voted. Those talks included exchanging deal documents, the source said.

Speaking to The Bee late Wednesday, Ranadive, a current Golden State Warriors co-owner, affirmed his confidence.

"I have no doubt we'll get something done," he said.

David Stern said on Wednesday that all of the money the Maloofs will be getting ($200 million, which is the 65 percent of the $525 million valuation minus the city loan and NBA loan) plus $40 million in operating funds is in escrow. That should help speed up a process it seems everyone wants to move quickly.

Stay tuned.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join Sactown Royalty

You must be a member of Sactown Royalty to participate.

We have our own Community Guidelines at Sactown Royalty. You should read them.

Join Sactown Royalty

You must be a member of Sactown Royalty to participate.

We have our own Community Guidelines at Sactown Royalty. You should read them.

Spinner

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9347_tracker