The Sacramento Kings, owners of the Kings, are reportedly considering a sale to a private equity firm that would create a majority ownership of the team, according to reports.
The Sacramento Bee reported Thursday that the team is considering a possible sale that would give the private equity company a majority stake in the team.
Kings owner Vivek Ranadive is known for taking on high-risk projects, like his $200 million bid for the LA Clippers.
The Kings are a part of the Los Angeles Lakers, but Ranadivé has been known to go against the team’s ownership.
The Kings are currently a minority owner in the NHL’s Sacramento Kings.