Kings owner Vivek Ranadive looking to buy major team in different sport
Vivek Ranadive’s time as owner of the Sacramento Kings has gone about as well as Conan O’Brien’s time as host of “The Tonight Show.” Now Ranadive may be trying his hand in a new sport.
According to a report by Sportico this week, Ranadive is preparing a bid for English soccer powerhouse Chelsea F.C. The Premier League club was recently put up for sale by longtime owner Roman Abramovich.
The report adds that Ranadive would become the first person of Indian descent to own a top-flight English club if his bid succeeds.
Ranadive, who has a reported net worth of over $700 million, purchased a majority stake in the Kings in 2013. Since then, the team has gone just 274-429 (.390) with zero playoff appearances. Ranadive has faced criticism for his ownership style and recently even some calls for him to sell the Kings.
It is unclear what would happen to Ranadive’s stake in the Kings if he goes on to become Chelsea’s owner. But Stan Kroenke, whose holding company owns both the Denver Nuggets and Arsenal F.C., is an example of an owner who holds stakes in both the NBA and the Premier League.
As for Chelsea, they are one of the most prestigious clubs in all of European soccer. Valued at an estimated $3.2 billion, Chelsea are the reigning winners of both the UEFA Champions League and the UEFA Super Cup. They also rank third in the Premier League table this season and boast stars like Romelu Lukaku and Christian Pulisic (of USA Soccer fame).
The last several months have had their bumps for Chelsea though. They will obviously be hoping for more success under Ranadive, if his bid ultimately succeeds, than he has had in the NBA with the Kings.
Photo: October 29, 2014; Sacramento, CA, USA; Sacramento Kings owner Vivek Ranadive celebrates during the second quarter against the Golden State Warriors at Sleep Train Arena. The Warriors defeated the Kings 95-77. Mandatory Credit: Kyle Terada-USA TODAY Sports
