• Loading stock data...
Sunday, April 21, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

Sacramento Kings Owner Joins Bidding to Buy Ottawa Senators

  • Kings owner Vivek Ranadivé is one of seven finalists to buy the Senators.
  • The Senators could sell for more than $1 billion, breaking the record for an NHL team.
Ottawa Senators sale.
Kyle Terada-USA TODAY Sports

Sacramento Kings owner Vivek Ranadivé is one of seven finalists bidding to buy the Ottawa Senators, Front Office Sports confirmed.

FOS reported earlier this week that bids are expected to fetch more than $800 million when they hit the market in November. Still, sources said that bidding has already eclipsed that mark — and could even hit $1 billion. Final bids are due May 15.

The Sacramento Bee was the first outlet to report Ranadivé was among the finalists for the Senators.

The reported target would be the largest price ever paid for an NHL franchise, surpassing Fenway Sports Group’s $925 million payment to buy the Pittsburgh Penguins in 2021.

The Remington Group — which includes Canadian actor and Wrexham AFC co-owner Ryan Reynolds — is among the finalists.

A stipulation for a potential Senators’ sale is that the team remains in Ottawa. The team was put up for sale following the passing of longtime owner Eugene Melnyk in March 2022.

Ranadivé originally made his fortune as the founder of the business intelligence firm TIBCO Software. He led an ownership group in 2013 that bought the Kings for $534 million, a record for an NBA team sale at the time. 

The Kings are now reportedly worth more than $2 billion. Kings home games have been the NBA’s hottest playoff ticket as the team made its first postseason appearance in 17 years. Ranadivé holds a stake in the Sacramento River Cats minor league baseball team. 

Senior reporter A.J. Perez contributed to this report.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Stanley Cup-Keeper Miragh Bitove is Ready to Protect the Hardware

To safeguard what may be the most-recognizable trophy in all of sports, she’s never more than an arm’s length away from the precious metal.

Utah Fans Rush for Season Tickets (for a New NHL Team With No Name)

More than 20,000 season-ticket deposits have been made for the newly relocated NHL team.

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
podcast thumbnail mobile
Front Office Sports Today

Why Ian Rapoport Lives for the NFL Draft’s Chaos

0:00
0:00

Featured Today

Everything You Need To Know About the Legal Attempts To Kill the ACC

Four lawsuits involving the conference, Clemson, and FSU could determine the future.
April 20, 2024

A Bare-Knuckle Fighter Won His Pro Debut. The Far Right Scored a Marketing Win

With Proud Boys sponsoring him, experts say extremist groups will use his success to elevate their ideologies and recruit new believers.
April 7, 2024

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Memphis and FedEx Strike Unique Corporate NIL Deal For $25 Million

The logistics company has a long-standing relationship with the university.
April 18, 2024

Caitlin Clark ‘Nearing’ $20 Million-Plus Nike Deal: Report

Clark had an NIL deal with Nike at Iowa as well.
April 18, 2024

NBA Media Rights Likely Headed for Open Market Next Week

The league is reportedly letting Monday’s deadline pass without a deal.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
April 17, 2024

Even Joe Biden Is Surprised By Caitlin Clark Making $76K

The president posted Tuesday night about pay disparities in sports.
April 14, 2024

Salt Lake City About to Land NHL’s Coyotes (Minus Their Name)

Salt Lake City’s NHL franchise will have a new name.
Ken Goldin
April 10, 2024

Goldin Auctions Acquisition by eBay Sparks Showdown With Fanatics

The online giant acquires the prominent high-end sports memorabilia auction house.
April 10, 2024

WNBA Has New Commercial Partner: Over-the-Counter Birth Control

WNBA teams up with FDA-approved over-the-counter birth control.