NBA Board of Governors unanimously approves sale of Kings to Sacramento group

The future of the Kings was officially settled Tuesday when the NBA Board of Governors unanimously approved the sale of the franchise to a Sacramento group.

The move had been expected for more than a week after the Maloof family had reached an agreement with a group headed by TIBCO software tycoon Vivek Ranadive to sell a 65 percent controlling interest in the Kings.

The NBA said in a new release Tuesday that the transaction is expected to close shortly.