Mayor: Deal to sell Kings to Sacramento group has been signed

SACRAMENTO, Calif. – Sacramento Mayor Kevin Johnson said Friday that the deal to sell the Kings to a group led by software tycoon Vivek Ranadive has been signed.

Johnson helped assemble the new ownership group in a bid to keep the Kings in California's capital city, a feat that was accomplished earlier in the week when NBA owners rejected a bid to move the franchise to Seattle.

The NBA is expected to officially approve the sale next week.