A 10% ownership stake of the Sacramento Kings is up for sale, according to a report from Bloomberg. The owner in question is currently anonymous.
It isn’t known which investor is selling the stake, which, because of its size, likely would come with a board seat.
Vivek Ranadive is the team’s managing partner. The other sizable stakeholders are Qualcomm Inc. Chairman Paul Jacobs and Raj Bhathal, founder of swimwear company RAJ Swim. A Qualcomm spokesperson said Jacobs isn’t selling his stake. An email sent to RAJ Swim’s corporate headquarters wasn’t immediately returned.
Raj Bathal is an interesting guess. It could also be Kevin Nagel, or Andy Miller. The structure of the Kings ownership percentages has never been public, so we’re left to speculate. The Kings declined to comment to Bloomberg or Sactown Royalty.
It will also be interesting to see how this could shift the factions that have fought amongst themselves over the past few years.
Anyway, look for my Go Fund Me link in the comments section.