( CNN ) -- After a prolonged courtship with Seattle , the Sacramento Kings are officially staying put . About two weeks after rejecting a sales bid that would have had the team moving 750 miles north to Washington state , the NBA board of governors on Tuesday approved the Kings ' sale to a local ownership group helmed by Vivek Ranadive . The vote was unanimous , the NBA said in a news release , and `` the transaction is expected to close shortly . '' Terms of the deal were not released . `` Thanks to entire NBA for approving sale of Kings to our organization , '' tweeted Ranadive , the founder and CEO of TIBCO Software in Palo Alto , California . `` It is an honor & a privilege to be part of such an amazing community . '' The Maloof family -- known for ownership of properties in Las Vegas , such as the Palms , among other business ventures -- has been trying for months to unload its majority owner stakes in the pro basketball franchise . The family members have on multiple occasions reached apparent deals to sell the team to a Seattle-based group , including investor Chris Hansen and Microsoft CEO Steve Ballmer , only to be rebuffed by other NBA executives . In January , these two parties reached a deal for that group to buy the Maloofs ' 53 % share of the team as well as minority owner Bob Hernreich 's 12 % stake . But the board of governors never signed off . The Maloof family and Hansen 's group , though , kept on talking , leading to another deal for a higher price and a vote earlier this month by the NBA board . Public officials in Sacramento , meanwhile , never gave up on their efforts to keep the team . Led by Mayor Kevin Johnson , who is a former all-star NBA guard , they worked on a stadium plan and collaborated with a group led by Ranadive that was intent on keeping the team in northern California . On May 15 , the 22 members of the league 's board of governors rejected the Kings ' relocation bid , while eight voted in favor . After that vote , Commissioner David Stern cited the existence of a `` strong ownership group , '' a construction team and a plan for a new arena , plus strong support from officials and residents in the Sacramento area . Johnson celebrated that day , and again on Tuesday . Congrats to @ Vivek & the new ownership group ! '' the mayor wrote on Twitter . `` NBA 's unanimous vote sends a strong statement of support for the Kings ' bright future in Sac ! ''
The NBA 's board of governors approves the sale of the Sacramento Kings . Tech entrepreneur Vivek Ranadive heads the Kings ' new ownership group . Maloof family had deals to sell to a group that would 've moved the team to Seattle . NBA executives rejected those relocation bids .