So late Sunday, just about every NBA reporter on the planet broke news that the Maloofs signed a deal with the Seattle folks to sell their 65 percent of the franchise for $340 million, for a $525 million valuation. It was the other shoe we knew would be dropping at some point.
Kevin Johnson reminds us that it's not over.
Let me be clear.Though agreement btw Maloofs & Seattle is out, deal is NOT done. Sac can still present an offer 2 NBA BOG. #playingtowin— Kevin Johnson (@KJ_MayorJohnson) January 21, 2013
Everyone knew a deal would be done before Sacramento made its case to the Board of Governors. Nothing reported today changes that. Woj reports that the relocation committee approval will be a formality? Okay, but there's no relocation until there's a formal sale. And that takes the full Board of Governors. And they'll be hearing from KJ on April 18.