New Lead Investor Emerges for Kings
Sacramento’s drive to keep the Kings took a dramatic detour Thursday as a new lead investor emerged for the team and the city missed its self-imposed deadline for wrapping up a deal for a new arena.
The dual developments, announced within minutes of each other during a chaotic afternoon, suggested that Sacramento was still laboring to finalize its plan to keep the Kings from moving to Seattle. Although city officials said they’re confident they’ll get a deal done on a new arena, there isn’t a lot of time.
Vivek Ranadive, an Indian-born software tycoon who lives in Silicon Valley,was unveiled as the man who will lead the bid for the team itself.