Good things come in packs of three, right?
Well – it does in this case. Current Golden State Warriors minority owner Vivek Ranadive has put together plans to become the lead partner in a bid to keep the Kings in Sacramento, joining Ron Burkle and Mark Mastrov as a three-headed ownership group, this according to CBS’ Ken Berger.
Ranadive partnered with current Golden State Warriors majority owner Joe Lacob to beat out Mastrov’s bid for the Warriors and now plans to let go of his shares, assuming the bid was to be successful.
Per Berger, the India native came to the United States with $50 dollars in his pocket and created a multi-billion dollar software empire and also brings with him the attraction of his home country, a country that the NBA has been increasingly expanding in:
Ranadive, based on Palo Alto, Calif., is founder and CEO of TIBCO, a real-time and cloud computing giant with a market cap of more than $5 billion. In addition to his deep pockets, Ranadive’s candidacy could be boosted by his existing ownership relationships as a partner with the Warriors. Also, Ranadive would be the first majority NBA owner from India, a market the league is committed to exploring and expanding into the next decade.
Topics: Sacramento Kings