UPDATE: 5/17/2013, 9:35 a.m. EDT. The Sacramento Bee reports that the Maloofs have reached an agreement to sell the Kings to Vivek Ranadive’s group at a $535 million valuation, the highest price ever paid for an NBA franchise. 5/17/13 4:45 p.m. EDT. Sacramento Mayor Kevin Johnson, himself a former NBA player, has said a deal has been signed.
A half-dozen Am Law 100 firms played key roles this week as the National Hockey League and the National Basketball Association vetoed potential franchise sales totaling more than $900 million.
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