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Indian American Vivek Ranadive buys US basketball team

Indian American software magnate Vivek Ranadive, who has become the first person of Indian descent to become the owner of a major US basketball team, plans to build the Sacramento Kings into a global brand. "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) ...
Indian-headed group buys Sacramento Kings NBA team

A day after NBA owners rejected Sacramento Kings' move to Seattle, the Maloof brothers, owners of the franchise, have agreed to sell the basketball side to a Sacramento-based group headed by Indian Vivek Ranadive. Ranadive, who is a software billionaire, will purchase 65 percent of the Kings from the Maloof family in a deal that is expected to be announced later Friday, reports ESPN. The 65 ...
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Video The End of the Maloof Era

The majority owners of the Sacramento Kings, the Maloof family, announced their intent to sell the team. Sacramento Mayor Kevin Johnson and other city leaders are created a counteroffer to present to the NBA after a Seattle investor group made a bid for the team. The NBA officially announced on Jan. 21 that an ownership group in Seattle made a $525 million offer to buy the Kings, something that ...
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Dusty hearses sit behind McGuire Cremation and Funeral Service in Modesto. MODESTO- The Stanislaus County Sheriff’s Coroner said Friday that 17 bodies were removed from a funeral and cremation business. The Sheriff’s Department said in a statement that McGuire Cremation and Funeral Service had been at the center of an investigation into ';potential criminal and civil ...

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Sacramento Kings sale celebrated by city

Sacramento Mayor Kevin Johnson announced to screaming throngs of Kings fans Friday that the deal to sell the NBA franchise to a group led by software tycoon Vivek Ranadive has been ...
Calif. Attorney General Kamala Harris Meets With New Task Force On Guns

California Attorney General Kamala Harris speaks at a news conference on May 17, 2013 at the Los Angeles Civic Center in Los Angeles, California. Harris hosted a meeting of the state’s district attorneys to develop recommendations on reducing gun violence. (credit: Kevork Djansezian/Getty ...
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Brandon Bikes to Work Days 12 13

SACRAMENTO- May is Bike Month, and on a challenge from the FOX40 morning producers, I'm seeing if I can ride my bike to work all month. Days 12: When we say ';bike'; to work, the phrase ';hoped to bike'; would have been better. Today, Rain again. I realized, if I’m serious about this, I need mud guards. Our morning executive producer says at UC Davis, freshman ...

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Indian American Vivek Ranadive buys US basketball team

Indian American software magnate Vivek Ranadive, who has become the first person of Indian descent to become the owner of a major US basketball team, plans to build the Sacramento Kings into a global brand.

"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, California, to Seattle, Washington.

"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 Sports. "I'm very, very excited to start the new (challenge)."

Ranadive, who left India as a 17-year-old to attend MIT and later founded his $4 billion company in Silicon Valley, Tibco, has the sort of competitiveness and deep pockets that could lead one of the league's most poorly run franchises back to respectability, the USA Today said." ...