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