What makes you think Burkle, who has since become a lead investor in the Sacramento Republic FC, is still interested in acquiring part of the Kings? And, in addition, what makes you so sure Vivek would be willing to sell?
A LOT of professional sports teams are "hemorrhaging fans" right now. I don't foresee a lot of ownership changes.
A LOT of professional sports teams are "hemorrhaging fans" right now. I don't foresee a lot of ownership changes.
I've been buried with baby duties, so may have missed an expose on how Covid has impacted Vivek's finances. Is there such an article? The only thing that I've seen is Bucher's garbage piece and some general references to how Covid has hit all teams. That said, the Kings would likely be hit harder than others because of their arena rent (waived? temporarily paused?) and their equity interest around the arena (Sawyer...). Plus I believe Mastrov is a minority owner and 24 Hour Fitness filed for bankruptcy a few months ago (don't ever want anyone/entity to go through hardship, but 24 hour fitness baited and switched their customers (me included) when they promised access to all clubs at signing then opened a new category of clubs and required customers to pay more for access--so there's some long overdue karma there).
As for Burkle, have no idea how Covid has impacted his finances. That said, if there was a time to buy into the NBA, that time would be now (or any sports team for that matter). Pennies on the dollar, because of the distressed selling that is going to be hitting ownership groups. I know the Warriors are looking for a loan.