SACRAMENTO (CBS13) — The Kings deal is nearly complete. So what does that mean?

THE DEAL

Word of the $535 million deal sending the Sacramento Kings from the Maloofs to a group led by Vivek Ranadive came out Thursday night.

The NBA is expected to officially approve the sale next week.

The deal followed a 22-8 vote this week by the NBA’s Board of Governors rejecting a move to Seattle, which was sought by a group led by Seattle investor Chris Hansen. That vote essentially killed that deal.

THE MAYOR

Mayor Kevin Johnson celebrated the news of the Ranadive group and the Maloofs reaching a deal Friday at City Hall this morning.

“Let me say this Sacramento, this was our playoffs,” he said.

Fans packed the room, sporting Kings jerseys and the color purple. Many said they were excited about the new arena and can’t wait to fill it.

“I’m just so excited as a community,” Johnson said. “We did what people said we couldn’t do.”

This deal has been Kevin Johnson’s focus for the past two years, and with it finished, he’s ready for the city to reap the benefits.

“This was such a defining moment for our community. This is transformative,” he said. “This community we know and love will never be the same.”

THE MALOOFS

While there has been a lot of animosity toward the Maloofs in recent years, Johnson made a point to thank the Maloof family for selling to Vivek Ranadive.

“Let’s be a community with a long memory that remembers those good days and good things,” he said. “They did not have to accept a backup offer and they did.”

THE ARENA

The timeline for getting a new downtown arena built was updated on Friday. The goal now is to break ground in October 2014 with a projected opening in October 2016.

TICKETS

Season tickets will go on sale starting on Tuesday. A Kings representative said they are working on renewing current season ticket holders and getting the rates set for next season.

Please stay current w/ Kings.com for details regarding season ticket renewal and new season tickets. Go Kings! #KingsAllDay—
Sacramento Kings (@SacramentoKings) May 17, 2013

MORE CELEBRATION

A rally will be held on Wednesday in Cesar Chavez Park, headlined by the Sacramento band Cake.

Friday on the Jason Ross Show Dave Deuce Mason filled in for J-Ross. We start the show after Mayor Kevin Johnson’s LIVE press conference streamed on CBS Sports 1140. We recap what the Mayor had to say and listen to what callers had to say about the Kings staying in Sacramento.

Senator Darrell Steinberg joins The Jason Ross Show to talk about being apart of the group that helped keep the Kings in Sacramento. He touches on the fans and how much they have done in this process and talks about what Sacramento means to him.

We celebrate the Kings and talk details on the KDings staying in Sacramento. Fans call in and talk about where they were when they heard the news and let us know how good they are all feeling today!

Senator Darrell Steinberg joins Dave “Deuce” Mason on The Jason Ross Show to talk about being apart of the group that helped keep the Kings in Sacramento. He touches on the fans and how much they have done in this process and talks about what Sacramento means to him.