How much does it cost to buy the Sacramento Kings?
Arctos Sports Partners has reached an agreement to buy a 17% stake in the Sacramento Kings in a deal that values the NBA franchise at $1.8 billion, according to people familiar with the transaction.
How much does it cost to buy the Kings?
The purchase price of $535 million is the highest valuation in NBA history. On Friday morning, members of the new ownership group, city council officials and fans gathered to celebrate at Sacramento City Hall with a press conference to announce the news.
How much money do the Sacramento Kings make?
In 2019/20, the estimated revenue of the National Basketball Association franchise amounted to 245 million U.S. dollars….Revenue of the Sacramento Kings from 2001/02 to 2019/20 (in million U.S. dollars)
| Characteristic | Revenue in million U.S. dollars |
|---|---|
| 19/20 | 245 |
| 18/19 | 286 |
| 17/18 | 263 |
| 16/17 | 240 |
Will Sacramento Kings relocate?
The Sacramento Kings look set to be sold and moved to Seattle, pending approval by the owners of the NBA. The current owners, the Maloof family, have agreed to sell the Kings to a Seattle group led by investor Chris Hansen, the league confirmed in a statement on Monday.
Did Maloofs sell the Kings?
The Maloof family completed its sale of the Kings to a California-based group headed up by TIBCO chairman Vivek Ranadive on Friday. The Ranadive group purchased the Maloofs’ majority share of the Kings at a total franchise valuation price of $534 million, an NBA record.
Did Maloof sell Sacramento Kings?
Who is the youngest owner in the NBA?
Pera, who bought the NBA’s Memphis Grizzlies in 2012, is the youngest controlling owner in the league.
Who is the owner of Tibco?
Vista Equity Partners
TIBCO Software/Parent organizations
Palo Alto-based Tibco is an enterprise data provider owned by Austin-based private equity firm Vista Equity Partners, which has offices in San Francisco and Oakland.