Sacramento Kings sell ownership stake to Arctos Sports Partners

The Sacramento Kings have sold a stake in five partners that helped keep the NBA franchise alive in River City. Former owners Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller, and Kevin Neagle have had their shares purchased by Kings owner and chairman Vivek Ranadive and Arctos Sports Partners, the team said on Friday. The organisation formed after the Marouf brothers, the previous Kings owners, attempted to sell or relocate the team in 2013.

Ranadibe said he was “extremely grateful” to the group for his investment in Kings. “They are contributing to our vision for the organization, and their commitment has allowed the team to stay where Sacramento belongs. We are delighted to welcome Arctos Sports Partners to the franchise and look forward to continuing to build Sacramento Proud.”

Arctos' investment is the group's second in the NBA since the league began allowing private equity stakes in franchises, according to the Kings.

“We are excited to partner with Vivek Ranadivé and other Kings world-class leadership teams,” said Ian Charles, founder and Managing Partner of Arctos. “The Kings franchise has a compelling growth trajectory and vision that our capital and resources will help accelerate, and we believe Arctos will be an ideal partner to enable investment and drive continued expansion”.




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