Report: Warriors minority owner takes lead in keeping Kings in Sacramento
A minority owner of the Golden State Warriors has taken the lead role in the Sacramento-based group attempting to buy the Kings, according to a USA Today report.
Vivek Ranadive, founder of the $4 billion software company, Tibco, has become the leader of the group previously fronted by 24-Hour Fitness founder, Mark Mastrov, according to a person with knowledge of the move. The person spoke to USA TODAY Sports on the condition of anonymity because the agreement had not yet been announced.
Mastrov and supermarket mogul/part owner of the Pittsburgh Penguins Ron Burkle are still major players in both the bid for the team and the downtown arena effort that was expected to be revealed by way of a term sheet on Thursday, but Ranadive agreed to take part recently after pushing for a more significant say in personnel matters.
Ranadive is the India native whose “Bollywood” night at Warriors games led to NBA games being televised in his home country. He would have to sell his interest in the Warriors before buying an interest in the Kings.
Earlier this month, NBA Commissioner David Stern said the Sacramento group needed to sweeten its bid to keep the Kings from being purchased and relocated to Seattle by a group led by Microsoft CEO Steve Ballmer and hedge fund manager Chris Hansen.