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Seattle group signs deal for Sacramento basketball team

SEATTLE | Mon Jan 21, 2013 12:14pm EST

SEATTLE Jan 21 (Reuters) - A Seattle-based investment group led by hedge fund manager Chris Hansen and Microsoft Corp Chief Executive Steve Ballmer has signed a binding agreement to buy a controlling interest in the Sacramento Kings basketball team, according to a statement on the group's website Monday.

Terms of the deal, which has been expected for several weeks, were not disclosed, and the final agreement is subject to approval by the National Basketball Association.
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