Reports: Vivek Ranadivé adds Qualcomm billionaires to prospective Sacramento Kings ownership team

Paul Jacobs, CEO of Qualcomm (Photo: Qualcomm)

Pictured: Paul Jacobs, CEO of Qualcomm

Another deep-pocketed investor has entered into the fight to keep the Kings in Sacramento.  According to multiple reports, the Jacobs family of Qualcomm fame has been added to the multi-billionaire group of investors vying to prevent the Kings from relocating to Seattle.  The news was announced by Vivek Ranadivé, who is now leading the local bid to purchase the team.

From the Sacramento Bee:

The trio, Paul, Jeff and Hal Jacobs, could not be reached immediately for comment. But Ranadive, a co-owner of the Golden State Warriors, told The Bee the trio bring added heft and expertise to the Sacramento team.

“I’m happy to add I am adding the legendary Jacobs family to the dream team tonight,” he said.

Qualcomm is one of the largest companies in America, with more than $19 billion in earning last year, according to US Securities and Exchange Commission fililngs. The family-run company was founded in 1985, has offices in more than 150 countries, and purchased the naming rights to San Diego’s major league baseball stadium.

Ranadive said the addition of the Jacobs family is not necessary, however, for the Sacramento group to compete with Seattle. it just adds to the heft of the local bid.

“Each person in this has the capacity to do this on their own,” he said. “This is about building a global brand. It’s about putting more wood behind the arrow.”

The news as it broke on Twitter:

Vivek Ranadivé adds Qualcomm to Kings bid

Breaking news of a fourth Sacrmaneto Kings investor.

Storified by Cowbell Kingdom· Mon, Mar 25 2013 19:43:14

BREAKING: @Vivek tells @News10_CA a 4th equity investor joins the group to fight to keep the #nbakings. It’s the Jacobs family of Qualcomm!nickmonacelli
BREAKING:Jacobs family, owners of Qualcomm Co, become the fourth whale in bid, Vivek Ranadive just told the Bee. Story online soon #NBAKingsTony Bizjak
@Vivek says, "I have been watching Sacramento for many years… Sacramento is our state capital, we must keep the #nbakings in Sacramento."nickmonacelli
Vivek Ranadive, new partner with Burkle, Mastrov, tells Bee he has added major San Diego tech family to Sacramento #NBAKings bidTony Bizjak
@Vivek also says, "#Sacramento is a market that works, it’s got a fan base that’s unbelievable."nickmonacelli
Vivek Ranadive sez any one of the four whales – him, Burkle, Mastrov, Jacobs family – have the heft individually to own the Kings. #NBAKingsTony Bizjak
I’m thrilled to welcome Qualcomm CEO Paul Jacobs to Sacramento! Another visionary who believes strongly in this market. #playingtowinKevin Johnson
And… @Vivek tells @News10_CA he and Mark Mastrov have been talking about doing something together for a while.nickmonacelli
This means major players from across the state – East Bay, Silicon Valley, L.A. and San Diego – are teaming 2 invest in Sacramento #NBAKingsTony Bizjak
@Vivek:“Every now and then you have an opportunity that’s bigger than yourself. The opportunity to keep the #nbakings… I couldn’t say no.”nickmonacelli
@Vivek: "Fan base in #Sac is truly amazing; it’s a market that works. Even 10 yrs ago tix sales, revenue bigger than most teams today.”nickmonacelli
A true Dream Team! This Fab Four is a bracket buster. #PlayingToWin!Kevin Johnson
@vivek still telling @News10_CA: “Hansen & Ballmer good guys, Seattle is a great city. They should have a team, just not the #nbakings."nickmonacelli

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