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The ownership group sold the team to Sacramento interests for $11 million. The general manager was fired in a scandal in which he was found to be reusing marked postage stamps. [ 30 ] When the Kings rehired Joe Axelson as general manager, they brought back the man who had previously traded Oscar Robertson, Norm Van Lier, Nate Archibald and ...
Otherwise, Sacramento's potential ownership group would not receive any consideration to purchase the team, even if the NBA Board of Governors were to reject the Seattle bid. [15] Chris Hansen announced that his Seattle-based ownership group had increased their purchase price for the Sacramento Kings from $525 million to $550 million.
In order for Ranadivé to purchase the Kings, he had to sell his share of the Golden State Warriors. [23] On 16 May 2013, it was announced that the group reached an agreement with the Maloof family to purchase 65% of the Kings for approximately $348 million. [24] The NBA approved the sale on 28 May. [25]
A group led by Sacramento Kings owner Vivek Ranadive is on the verge of purchasing the city’s minor league baseball team for approximately $90 million, according to people familiar with the terms.
Ranadivé and his ownership group bought the Kings for $534 million in 2013, a record for an NBA team at that time. The team is now estimated to be worth more than $2 billion. Ranadivé made his ...
Kevin Johnson brought a new ownership group together, led by Vivek Ranadivé, to keep the team in Sacramento. On May 15, 2013, the NBA Board of Governors denied the relocation bid, effectively nullifying the sale to the Seattle group. The following day, the Maloofs agreed to sell the team to the Sacramento group.
This article is a list of principal owners of National Basketball Association teams. The NBA requires a change in "controlling ownership" to be approved by the NBA Board of Governors, composed of one representative (Governor) from each team. [1] Toronto Raptors owner Larry Tanenbaum has been Chairman of the NBA Board of Governors since 2017. [2]
Sacramento Kings and River Cats owner Vivek Ranadive basks in baseball’s glow while looking abroad for opportunities in European soccer.