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So, despite the fact that the Maloofs are leaving town on bad terms, they have some reason to feel nostalgic for the good times they had in Sacramento. On their way out, they thanked the city and team for their 15 years as owners in a full-page ad in Saturday's edition of The Sacramento Bee.
The ad reads: “Thank you Sacramento for 15 wonderful years! The amazing memories created during these past seasons were because of you, the fans, and our dedicated employees. We truly cherish our time as stewards of the Kings franchise. The people of Sacramento warmly brought the Kings into their hearts and for that we will always be grateful. Many thanks to Bob Hernreich and our partners Bud Benvenuti, John Kehriotis, and Dave Lucchetti for their support and commitment to the Kings franchise. We also recognize Mayor Kevin Johnson, the City Council, and the City of Sacramento staff for their efforts and their loyalty to the people of Sacramento. We wish the new ownership group, led by Vivek Ranadive and Mark Mastrov, all the best. We will always love the Kings and we will always be Kings fans. GO KINGS! The Maloof family”
George Maloof revealed that his family entertained offers from three investor groups in the past year - the Hansen-Ballmer team, as well as a group seeking to move the team to Las Vegas and a buyer who promised to keep the team in Sacramento. He wouldn't identify the suitors from Las Vegas or Sacramento.
The Maloof family today announced that the agreement to sell the family's controlling interest in the National Basketball Association's (NBA) Sacramento Kings and ownership of Sleep Train Arena to the Sacramento investor group led Vivek Ranadive has closed escrow and is now final. The transaction valuation equates to a purchase price of over $534 million, an NBA record.
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"We respect and would like to acknowledge the NBA Board of Governors' dedication and diligence in working through this process over the past several months. On behalf of my family, I would like to thank Commissioner David Stern and the NBA staff who worked tirelessly on this transaction. I also would like to praise Mayor Kevin Johnson and the Sacramento City Council and staff for their efforts and loyalty to the Sacramento community," said George Maloof, Kings co-owner speaking on behalf of Maloof family members Colleen, Joe, Gavin, Adrienne, and Phil.
Kings co-owner George Maloof was reportedly forced to hide from reporters in a Dallas Marriott’s bell stand closet after NBA commissioner David Stern announced Wednesday that the league’s Board of Governors had voted down a plan to move Sacramento’s basketball team to Seattle. Kevin Fippin of Kings blog SacTownRoyalty.com reported that Maloof briefly entered the closet to avoid a crush of cameras. He later exited the closet and addressed reporters.
“Media just chased George Maloof into the Bell Stand closet!!! UNREAL!!,” Fippin reported in a series of Twitter posts that included a photograph of the media scrum converging on the closet, which is adjacent to the hotel’s main entrance. “He is in a closet guys!!! … George opened the door for a second and closed when he saw this! … Guys, I don’t make up who gets chased across a hotel lobby into a bell check closet. I’m not that awesome!”
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