By Johnny Askounis/ email@example.com
Sacramento Kings owner Vivek Ranadive is putting the final touches on a bid for Chelsea F.C., according to Sportico.
Ranadive, 64, became a minority owner of the Golden State Warriors in 2010. Three years later, in 2013 he purchased 65% of the Sacramento Kings for approximately $348 million. He kept the franchise in the capital of California after the previous owners attempted to move the team to Las Vegas. Looking to expand his business into soccer, he entered a crowded field of potential Chelsea buyers, including more interested parties based in the USA.
The English storied club from London was put up for sale by Roman Abramovich, the Russian billionaire confirmed last week. Facing the threat of sanctions generated by the condemnation of Russia’s invasion of Ukraine and the ongoing war pushed him to the exit. Due to the circumstances and despite the expected bids from multiple suitors, Abramovich is likely to complete a deal as soon as possible.
After landing in the USA, Ranadive became very successful in starting up businesses. He found Teknekron Software Systems in 1985 and made an even bigger step toward his current multimillionaire status in 1997 by founding TIBCO Software, a multi-billion dollar real-time computing company.
Proposing a four-player defense to leave the fifth on-court player in offense made waves in 2014 but expectedly did not gain traction. The Indian American business executive retaining an active role in the Sacramento franchise and the league overall is well-respected among fellow NBA owners.
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