Statement on the Sale of Sacramento Kings Ownership Stakes to Arctos Sports Partners
September 30, 2021
Sacramento, Calif. – The Sacramento Kings released the following statement from Owner and Chairman Vivek Ranadivé and Arctos Sports Partners on the sale of ownership stakes. Ranadivé and Arctos Sports Partners have officially bought the shares of former owners Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller and Kevin Nagle.
“We are tremendously thankful to Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller and Kevin Nagle for their transformational investment in our franchise,” said Sacramento Kings Owner and Chairman Vivek Ranadivé. “They have been instrumental in our vision for the organization and their commitment made it possible for the team to stay where it belongs – in Sacramento. We are excited to welcome Arctos Sports Partners to the franchise and look forward to continuing to make Sacramento Proud.”
Arctos Sports Partners works with world-class franchises and visionary ownership groups across the professional sports ecosystem with an emphasis on creating value through sport-specific operational expertise. The deal is Arctos’ second investment in the NBA since January of this year, when the league began allowing private equity investments in franchises.
“We are thrilled to be partnering with Vivek Ranadivé and the rest of the Kings’ world-class leadership team,” said Arctos Founder and Managing Partner Ian Charles. “We believe the Kings franchise has a compelling growth trajectory and vision that our capital and resources can help accelerate, making Arctos an ideal partner to enable investment and spur continued expansion.
The Kings have long pushed the boundaries of digital innovation across the franchise and use groundbreaking technologies to experiment with new ways for fans to experience the game inside and outside the arena. The continuing investment in innovation allows for the Kings to remain on the cutting edge, deliver value to fans, and increase the opportunity for long-term value.
“Vivek has long been a true innovator with a deep commitment to the Sacramento community,” said Arctos Founder and Managing Partner Doc O’Connor. “We are thrilled to join such a talented and dedicated organization to continue to grow the franchise and invest in the local community.”
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