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Group raises Kings' purchase price

Updated: April 13, 2013, 2:26 AM ET
Associated Press

SEATTLE -- NBA commissioner David Stern said the sale of the Sacramento Kings would not become a bidding war.

Chris Hansen and the group seeking to purchase the Kings and move them to Seattle is making moves that prove otherwise.

The Seattle group led by Hansen and Microsoft chairman Steve Ballmer announced Friday night they had reached agreement with the Maloof family to raise the purchase price of the Kings by $25 million to an NBA-record $550 million.

In a statement ...

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