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Fourth Whale Investor Announced In Sacramento Kings Deal

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Steve Large Steve Large
Steve anchors the news on CBS13 on the weekends and reports during the...
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SACRAMENTO (CBS13) – Sacramento Mayor Kevin Johnson announced on Twitter that Qualcomm CEO Paul Jacobs is the latest investor joining in the effort to keep the Kings from moving to Seattle.

Days earlier, Golden State Warriors minority owner Vivek Ranadive was introduced as the third investor teaming up with billionaire Ron Burkle and 24-Hour Fitness founder Mark Mastrov to buy and keep the NBA team in Sacramento. Ranadive helped add Jacobs to the mayor’s list of “whales.”

“This is Sacramento’s moment. Some of most successful leaders in the state are coming together to do something truly transformational for the capital city,” Johnson said in a statement. “Their belief in Sacramento speaks volumes about a community that’s growing stronger by the day.”

WATCH: Ranadive’s First Interview

The announcement came hours after Burkle and Mastrov met with Johnson in Sacramento.

Now all four are putting money into a team bid that needs to compete with Seattle’s $525 million offer to buy the Kings.

“The bar is set really high. We know what that number is. If it’s dollar for dollar, or somewhere in the neighborhood, I just believe really strongly they’re going to do what’s necessary,” said Johnson.

Qualcomm CEO Paul Jacobs (Credit: David Becker/Getty)

Qualcomm CEO Paul Jacobs (Credit: David Becker/Getty)

The effort to add more money to the Kings deal comes one day ahead of a city council vote to approve an arena financing plan just reached over the weekend. However, Council member Steve Hansen is concerned there’s not enough time to make an informed decision on its massive public subsidy.

WATCH: Mayor Kevin Johnson Press Conference On Arena Deal

“I still think the timeline is tight and we’ll have to see if we can get our questions answered,” Hansen said.

There is a push by some to delay Tuesday’s city council vote for another couple days, but Johnson said that would send the wrong message to the NBA.

Important Upcoming Dates:
April 3: Sacramento and Seattle investment groups meet with the NBA in New York.
April 17: Last Kings Game
April 18-19: NBA Board of Governors Meeting

Steve Large will be reporting in New York for the April 3 meeting. Follow him on Twitter at @largesteven.

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