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.
via Dale Kasler, Tony Bizjak and Ryan Lillis of The Sacramento Bee
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