The well-known basketball team from California, Sacramento Kings, has a new minority partner. The deal involves several partners selling their stakes to the current CEO, Vivek Ranadivé. It also involves a new minority partner, Arctos Equity Firm, with around 17% shares.
Sacramento Kings: Background
Sacramento Kings is a basketball team of the city of Sacramento, in California. Founded in 1923 under the name of Rochester Seagrams, but in 1985 it was renamed Sacramento Kings. According to Forbes, this year, they have a market value of a little more than $ 1.8 million, representing a growth of about 13% compared to 2020. They reported revenue of $245 million last season.
Sportswise is a first division team but from the mid-table. They won one Conference Title and five titles of Di...
