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Vivek & Co put 50% of Kings purchase price into escrow, per report

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As was expected based on reports earlier this week, Vivek Ranadivé and his partners have put 50% of the purchase price of the Kings into escrow, according to The Bee's Dale Kasler.

USA TODAY Sports

The ownership group seeking to purchase the Sacramento Kings, led by Vivek Ranadivé, has placed 50% of the purchase price of the Kings into an escrow account, according to reports. Following Monday's news that the NBA relocation committee recommended against relocating to Seattle, it was widely reported that Vivek & Co would place this deposit.

Dale Kasler was the first to report that the deposit had been placed, with multiple outlets confirming the report.

As we've seen in this saga, a deposit is no guarantee of anything, but it is another step forward in the process. There have been no public reports of negotiations between the Sacramento group and the Maloofs.

However, on Friday's Cowbell Kingdom podcast, Jonathan Santiago said he'd spoken with Mark Mastrov at Thursday's Warriors/Nuggets game. When asked if there had been any negotiations, Mastrov paused, smirked, and said "no comment", according to Santiago.

We'll keep you updated as we continue to move towards May 15th.