Tycoon joins team to keep NBA Kings in Sacramento

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Updated: 3/22/2013 10:40 am

SACRAMENTO, Calif. (AP) — The effort to keep the NBA's Sacramento Kings from moving to Seattle got a boost by a Silicon Valley software tycoon who stepped forward as lead investor.

The Sacramento Bee reports http://bit.ly/YvvD1h that Vivek Ranadive will lead Sacramento's bid to keep the team, joining health-club financier Mark Mastrov and billionaire Ron Burkle.

Ranadive's involvement comes after NBA Commissioner David Stern said earlier this month that the Sacramento group's offer needed to be increased before league owners would consider it.

Sacramento Mayor Kevin Johnson, who recruited the Burkle-Mastrov group, said adding Ranadive takes the effort "to the next level."

Ranadive is chairman and chief executive of TIBCO Software and already part-owner of the Golden State Warriors.

If the bid is successful, he would sell his stake in the Warriors.

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Information from: The Sacramento Bee, http://www.sacbee.com

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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