Who owns Sacramento Kings? This question has intrigued basketball fans and investors alike, as the ownership of the NBA team has undergone several changes over the years. The current owner, Vivek Ranadive, has been at the helm since 2013, bringing a fresh perspective and innovative ideas to the franchise. However, the story of who owns Sacramento Kings is a complex one, with various individuals and groups playing a role in its history.
The Sacramento Kings were originally founded in 1946 as the Tri-Cities Blackhawks, playing in the National Basketball League (NBL) before joining the Basketball Association of America (BAA) in 1949. The team later became part of the NBA when the BAA merged with the National Basketball League in 1949. Over the years, the team has changed ownership multiple times, with some of the most notable owners including George and Irv Gainer, who purchased the team in 1967 and owned it until 1985.
In 1985, the Kings were purchased by a group of investors led by Alex Gurevich, who became the majority owner. Under Gurevich’s ownership, the team faced financial difficulties and was forced to move from Kansas City to Sacramento in 1985. The move to Sacramento was a significant turning point for the franchise, as it helped establish the team’s identity and fan base in the region.
In 1995, the Kings were sold to a group of investors led by George Maloof, who owned the team until 2013. During Maloof’s tenure, the team faced its share of challenges, including a lack of success on the court and financial issues. Despite these challenges, the team remained a staple in the Sacramento community, with loyal fans supporting the team through thick and thin.
In 2013, Vivek Ranadive purchased the Sacramento Kings from the Maloof family for $535 million. Ranadive, an Indian-American tech entrepreneur, brought a new vision to the franchise, focusing on building a winning team and fostering a positive culture. Under his leadership, the Kings have seen significant improvements on the court, with the team making the playoffs in the 2015-2016 and 2016-2017 seasons.
Vivek Ranadive’s ownership of the Sacramento Kings has been marked by his commitment to innovation and community engagement. He has invested in technology, including the installation of the largest LED video board in the NBA, and has been a vocal advocate for social justice and diversity within the league. Ranadive’s vision for the franchise has resonated with fans and investors alike, as he continues to work towards building a sustainable and successful future for the Sacramento Kings.
In conclusion, the ownership of the Sacramento Kings has been a dynamic and evolving process, with various individuals and groups contributing to the team’s history. From the Gainer family to the Maloof family and now to Vivek Ranadive, the Kings have seen a series of changes that have shaped the franchise into what it is today. As the team continues to grow and thrive under Ranadive’s leadership, the question of who owns Sacramento Kings remains a topic of interest for fans and investors worldwide.
