Sacramento, CA…Sacramento Kings owner Vivek Ranadivé issued the following statement regarding the ownership transfer of the franchise from the Maloof Family: “On behalf of the entire Kings organization and ownership group, I want to thank the NBA for their unwavering support of Sacramento, the Kings, and our team of owners. It is an honor and a privilege to be a part of this incredible franchise, as well as a continued member of the National Basketball Association.

Mayor Kevin Johnson and the leadership group of Sacramento should be commended for their relentless efforts, hard work and tireless drive to keep the Kings in the city where they belong. We also extend our thanks to the Maloof Family for their support and cooperation throughout the sale process. Because of their efforts, this team has risen to an impressive legacy, which includes the most passionate fanbase in the NBA.

Again, thank you to Sacramento Kings fans for their unwavering commitment and loyalty to myself and this organization. Without them, this success would not have become a reality. At the end of the day, this team belongs to the people of Sacramento, and our mission is to support them. We are excited to begin the process of building a 21st century franchise that will be a source of pride and excitement for years to come. Let’s go Kings!”