UPDATE 2-Sacramento Kings owners reach deal to sell team to local investors

The owners of the Sacramento Kings basketball franchise have struck a tentative deal to sell the California team to local investors after the National Basketball Association denied a proposal to move the team to Seattle, Sacramento Mayor Kevin Johnson said on Friday.

http://www.reuters.com/article/2013/05/17/nba-kings-sacramento-idUSL2N0DY19120130517?feedType=RSS&feedName=technologySector