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Ranadive Group to Own 72 Percent of Kings
Posted By HOOPSWORLD On June 11, 2013 @ 7:48 am In Headlines,NBA Headlines | No Comments
Consolidating their control of the Sacramento Kings, new majority owner Vivek Ranadive and his partners on Monday secured a bankruptcy judge’s approval to buy another 7 percent share of the team.
Buying Cook’s share will increase the Ranadive group’s ownership stake to 72 percent. NBA Commissioner David Stern’s office has already approved the latest deal, said NBA lawyer Martin Zohn, and the purchase could close Wednesday.
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