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The NBA’s Sacramento Kings are the new majority owner of a minor league baseball team.
The Kings have teamed up with Arctos Sports Partners to take an ownership stake in the Sacramento River Cats, who will remain a Triple-A affiliate of the San Francisco Giants.
- Arctos purchased a 17% stake in the Kings in September 2021, reportedly valuing the team at $1.8 billion.
- Kings owner Vivek Ranadivé and Arctos bought out the shares of several River Cats minority owners.
Financial terms weren’t disclosed, but reports earlier this month stated that a consortium led by Ranadivé was close to securing a $90 million takeover deal that includes Sutter Health Park, the team’s $46.5 million home field that opened in 2000.
The previously reported price tag would make it the highest purchase price for a minor league baseball team.
Current owner Susan Savage, whose late husband purchased the team in 1998, will stay on as an owner and strategic business advisor.
All About Arctos
The Kings’ announcement comes less than a week after Arctos invested in a different NBA team. Arctos announced plans to purchase a stake in the Utah Jazz through a deal with Smith Entertainment Group, which is pending approval from SEG’s board of governors.
Arctos, which was reportedly the first firm to offer private equity funding across MLB, MLS, the NBA, and the NHL, has investments in more than 20 professional sports groups and franchises.
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