I think you've mentioned the India connection in some other threads that dealt with personnel,front office, relocation or other issues.. There is no right or wrong, its subjective at this point, but some feel as though vivek's ethnicity or where he was born will not differentiate this franchise to the average Indian on the street the way a star player of Indian origin might. Kind of like it, can be argued, most Americans don't follow English Premier League teams owned by Americans, but might follow Dempsey. I'm not an investor but I do know some of the reasons why some would potentially pay that valuation (the exponential increase of valuation throughout the years of sports franchises, revenue sharing, the dollar being worth less in the future for various economic reasons, etc.).. I just wonder what the investors individual angles are out of curiosity, since it is such an over-valuation of what this franchise was considered to previously be at
The value of the franchise is what someone is willing to pay. It's really that simple. The investors who were willing to buy in at the higher price are obviously convinced they're getting value for their money. Several of us are pointing out a variety of reasons we think this is so, but you never seem to accept them. Bottom line, they've wagered their money on Sacramento's potential for the future AND for the future of the NBA in previously untapped markets. With Vivek Ranadive as oiur owner, one of those untapped markets becomes much more feasible because of his connections there. And, in case you didn't realize it, we actually have TWO more Indian owners, meaning there could be significant ties to that country.
The Ranadive team includes two more India-born businessmen, the founding family of telecommunications giant Qualcomm Inc. and prominent downtown Sacramento developer Mark Friedman. There's a former senior executive from Facebook and a couple of tech entrepreneurs from the Bay Area. Ranadive himself is chief executive of Tibco Software Inc., a $1 billion-a-year Palo Alto company.
Read more here:
http://www.sacbee.com/2013/05/17/5429834/kings-new-ownership-group-kicks.html#storylink=cpy
Here's a
list of all the owners:
■Vivek Ranadive - – Tibco Software Inc. of Palo Alto has revolutionized the use of data at such companies as eBay and Southwest Airlines. Since 2010, he has brought data-driven expertise to the NBA as vice chairman of the Golden State Warriors.
■Three Jacobs brothers of San Diego – whose family founded Qualcomm Inc., which makes telecommunications equipment – would become vice chairmen of the Kings, rotating that post.
■Raj Bhathal (announced Wednesday) – Owner of RAJ Manufacturing, based in Tustin, which makes such swimwear brands as Hurley, Reef, Nautica and Guess.
■Arjun Gupta, a venture capitalist with offices in India and Menlo Park
■Mark Mastrov, founder of 24 Hour Fitness chain
■Andy Miller, a tech entrepreneur in San Francisco, president and chief operating officer of Leap Motion, a motion-control hardware and software company. He also is co-owner of the Modesto Nuts minor league baseball team.
■Chris Kelly, an attorney, Facebook alumnus and political activist who ran for state attorney general in 2010
■Mark Friedman, Sacramento developer who specializes in urban projects. He would be the liaison between JMA Ventures, owner of the Downtown Plaza, and the city.
■Katrina Garnett, Silicon Valley entrepreneur and investor. Her newest venture is My Little Swans, a social network dedicated to high-end family travel and lifestyle.
John Kehriotis, David Lucchetti and Benvenuti family.
all kidding aside, this is a brilliant, brilliant article with a lot of the insight into the things that happened this year. thanks for posting it.
