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On May 17, 2013, Sacramento Mayor Kevin Johnson said Friday that the deal to sell the Kings to a group led by software tycoon Vivek Ranadive has been signed. Johnson helped assemble the new ownership group in a bid to keep the Kings in California's capital city, a feat that was accomplished earlier in the week when NBA owners rejected a bid to move the franchise to Seattle. - AP
Earlier this year, the National Basketball Association and the Sacramento Kings confirmed on Jan. 21, 2013, that the Maloof family has reached a deal to sell the Sacramento Kings to a Seattle investment group. In a brief statement, the league said it will now begin its review of the deal. - The Sacramento Bee