"The NBA received an executed PurchaseandSaleAgreementfor the transfer of a controlling interest in the Sacramento Kings from the Maloof family to an investor group led by Christopher Hansen, " the league said.
In the statement NBA Commissioner David Stern's office released Monday, the league confirmed it had received "an executed PurchaseandSaleAgreementfor the transfer of controlling interest" in the Kings from the Maloof family.
Although the house was leveled and the lot was cleared before petitioners received legal title to the property in March 2006, the work would not have occurred had petitioners not bargained for it in the purchaseandsaleagreement.