The Maloof family completed the sale of the Sacramento Kings and Sleep Train Arena to a group led by TIBCO Software chairman Vivek Ranadive...
SACRAMENTO, Calif. — The Maloof family completed the sale of the Sacramento Kings and Sleep Train Arena to a group led by TIBCO Software chairman Vivek Ranadive on Friday, officially transferring ownership of the NBA franchise.
Ranadive’s group acquired a 65 percent controlling interest in the team at a total franchise valuation of more than $534 million, topping the NBA record of $450 million that Joe Lacob and Peter Guber paid for the Golden State Warriors in 2010.
The sale’s completion capped a comeback few outside California’s capital city believed would happen.
The Maloofs originally had a deal with investor Chris Hansen to buy and relocate the Kings to Seattle at a total franchise valuation of $625 million, but NBA owners blocked the move.
- Amazon.com just tip of Seattle boom
- Boeing retools Renton plant for 737's big ramp-up
- 14 million spilled bees on I-5: 'Everybody's been stung'
- Nelson Cruz drives in five, including winning run
- Aaron Hernandez: A $40 million murderer
Most Read Stories
Ranadive, a former minority owner of the Warriors, already was busy making moves to rebuild the fallen franchise.
The Kings have an agreement in place with Warriors assistant Mike Malone to become their coach. Keith Smart, who had one year remaining on his contract, was fired as coach.
Blaylock critical after wreck
JONESBORO, Ga. — Former NBA All-Star guard Daron “Mookie” Blaylock was on life support at a hospital Friday after his SUV crossed the center line and crashed head-on into a van in suburban Atlanta, fatally injuring a passenger in the van, police said.
Blaylock was airlifted to the Atlanta Medical Center in critical condition, said Clayton County police spokesman Clarence Cox.
Jonesboro police chief Franklin Allen said 43-year-old Monica Murphy, a passenger in the van, died. Allen said her husband, 41-year-old Frankie Murphy, suffered a broken ankle and was released from the hospital after undergoing treatment.
Blaylock, 46, has been under treatment for seizures, a family member told police.
MIAMI — Chris Andersen was suspended by the NBA for his altercation with Tyler Hansbrough, leaving the Miami Heat without one of its best big men as it tries to finish off the Indiana Pacers in Game 6 on Saturday.
The league also upgraded Andersen’s foul to a Flagrant 2, which would have meant an automatic ejection had it been called at the time.
Andersen knocked Hansbrough to the floor from behind with 9:02 left in the second quarter Thursday, then shoved him backward after Hansbrough got up. Andersen still wouldn’t back away when a referee stepped in.
Andersen has made all 15 shots from the field in the series, and the Heat will miss the Birdman’s size against the bigger Indiana front line.
• General manager Masai Ujiri is leaving the Denver Nuggets to take over the basketball operations for the Toronto Raptors. The team announced it has signed the NBA’s executive of the year. Ujiri was assistant GM of the Raptors when hired by the Nuggets three years ago. During his time in Denver, the team won a franchise-record 57 games and recorded a 38-3 record at home this season.
• Four days after coach Larry Drew was replaced in Atlanta, the Milwaukee Bucks have swooped in to scoop him up. The Bucks announced they have reached an agreement to hire Drew as their new coach. He will receive a four-year, $10 million contract, ESPN reported.
• Utah Jazz forward Marvin Williams from Bremerton will undergo surgery next week on his right heel and Achilles tendon. The Jazz said recovery is expected to take about six months.