The Sacramento Kings are staying in town.
According to USA Today’s Sam Amick, the NBA Board of Governors have voted down the relocation bid by a Seattle investment group. The final vote was 22-8 in favor of Sacramento.
“I would say it’s a victory for Sacramento,” commissioner David Stern told reporters.
A few months ago, all hope seemed lost when the Maloofs agreed to sell the Kings to the Seattle investment group led by Chris Hansen that planned to relocate the team next season. However, mayor Kevin Johnson and the city of Sacramento fought back, finding investors and developing a plan to build a new arena.
Sacramento’s bid is led by Vivek Ranadive, who is also a minority owner of the Golden State Warriors. Chris Kelly, Mark Mastrov, and the Jacobs family of Qualcomm are also involved.
The Maloofs will now be asked to sell to Ranadive’s group.