Just days after saying they’d never sell the team to a Sacramento group, the Maloofs have agreed to sell the team for $535 million. Which proves they are both greedy and also liars. They killed arena deals for seven years, threatened to move to Anaheim, and then Seattle, all while signing Linday Lohan’s sister to a record deal, mismanaging a skateboarding tour to the point where it could only take place in South Africa, and losing 98% of their casino investment in the Palms. They even ran a WNBA team into the ground along the way.
And now they’re finally gone from the NBA, and half a billion seems like a bargain to get them away from Sacramento and professional basketball for good. Goodbye, good night, good riddance.
The Maloofs are expected to blow through the $535 million in just under 18 months.