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Kings are officially sold; Maloofs are out, Malone in as Head Coach


KINGS OFFICIALLY SOLD;  MALOOFS ARE OUT

 

 

THE MALOOFS' OVERSAW THE MOST SUCCESSFUL RUN IN KINGS BASKETBALL HISTORY, BUT THEY WILL BE REMEMBERED FOR HOLDING THE CITY HOSTAGE AND PUTTING THE FANS THROUGH FOUR YEARS OF TURMOIL, TROUBLE AND INSTABILITY

 

The sale of the Sacramento Kings is finally complete.

The Maloof family announced Friday that the agreement to sell the Kings and Sleep Train Arena to a group led by Vivek Ranadive (VIHV'-ehk rah-nah-DEE'-vay) closed escrow. 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 the $450 million that Joe Lacob and Peter Guber bought the Golden State Warriors for in 2010.

Brothers George, Joe and Gavin Maloof thanked the NBA and Commissioner David Stern for their work in helping complete the transaction. The family also congratulated Ranadive and praised Sacramento Mayor Kevin Johnson and the City Council "for their efforts and loyalty to the Sacramento community."

 

MALONE TAKES THE KINGS' REIGNS

 

(AP) — A person familiar with the decision says the Sacramento Kings have reached an agreement with Golden State Warriors assistant Mike Malone to be their head coach.

The person, who spoke to The Associated Press on condition of anonymity Thursday night because they were not authorized to speak publicly, said Malone was incoming owner Vivek Ranadive's top choice. Ranadive has been a minority owner of the Warriors the past three seasons and is closing a sale with the Maloof family to buy the Kings.

Malone's hiring officially ends Keith Smart's tenure as Sacramento's coach. Smart took over for the fired Paul Westphal in January 2012 and had one year remaining on his contract.

Yahoo Sports first reported the agreement.

 

GIANTS SALVAGE SERIES FINALE; A'S WIN SERIES

 

(AP) — Pablo Sandoval hit a go-ahead two-run single in the sixth to help Barry Zito end a six-start winless stretch, and the San Francisco Giants beat the Oakland Athletics 5-2 on Thursday to avoid a season sweep.

A day after San Francisco made three errors and two other defensive miscues, the Giants finally got to A.J. Griffin (5-4) to snap the A's six-game winning streak with their lone win in the four-game Bay Bridge Series between last year's West division champions.

Brandon Belt doubled in two runs in San Francisco's four-run sixth.

Zito (4-3) won against his former club for his first victory since beating San Diego at home April 21. The Giants improved to 7-0 in his home outings and have won 13 straight regular-season games started by Zito at AT&T Park.

The Giants open a series in St. Louis tonight. Matt Cain takes the hill for San Francisco with game time at 5:10pm

 



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