SACRAMENTO, CA – “It’s going to be exciting,” he told the USA Today after securing an agreement to buy 65 percent of the Kings from the Maloof family for a National Basketball Association (NBA) league-record valuation of $535 million.
“We’re going to build a global brand with the Kings. We’re going to give the fans the product that they deserve,” the minority owner of Golden State Warriors said on achieving his longtime goal.
The development came just a day after NBA owners officially rejected a bid by the Maloofs, who have owned the team since 1998, to relocate the Kings from Sacramento, to Seattle.
“It’s a little bittersweet, obviously because I’m a huge Warriors fan and I have a lot of friends here,” Ranadive told USA Today. “I’m very, very excited to start the new (challenge).”
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