Kings Buyers Asked to Put Entire Offer in Escrow Fund
With an NBA vote on the future of the Sacramento Kings just a week away, a source says the league is encouraging a Sacramento business group to put 100 percent of its $341 million team purchase offer into an escrow account in hopes of persuading the Maloof family, which owns the team, to sign a deal with the local group.
A league source familiar with the situation said NBA officials are suggesting the private investment group led by Silicon Valley entrepreneur Vivek Ranadive make the move to prove it has the wherewithal to sign what has been described as a backup offer to purchase the team.
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