by Cutter Hicks, Sports 1140 KHTK
According to a report from Bloomberg, a 10% ownership stake of the Sacramento Kings is currently up for sale.
However, it isn’t known which investor is selling the stake. Vivek Ranadive is the team’s managing partner alongside sizable stakeholders Qualcomm Inc. Chairman Paul Jacobs and Raj Bhathal, founder of swimwear company RAJ Swim.
Even Hall-of-Fame center Shaquille O’Neal owns from 2 percent to 4 percent of the Kings, according to Forbes
A Qualcomm spokesperson told Bloomberg Jacobs isn’t selling his stake. An email sent to RAJ Swim’s corporate headquarters wasn’t immediately returned.
Back in February, Forbes valued the team at $1.1 billion, 15th in the NBA.