How Vivek Ranadive beat out Steve Ballmer to buy the Sacramento Kings
Joyce Park stashed this in The Sporting Life
Also gives some insight into why so many tech execs buy basketball teams.
Interesting factoid: the Golden State Warriors' value may have increased from $342mm to $555mm in just two years! That would make them the 8th most valuable NBA franchise.
He literally wants to sell every NBA team Tibco software, doesn't he?
"He started talking about NBA 3.0 to the owners, and I remember the owners going, 'OK, this would be a great addition to our fraternity,' " said the mayor, a rookie politician who rode to office largely on his promise to keep the Kings in town.
"He understands technology and startups. He's built businesses," Johnson said of Ranadive. "He's a visionary." The NBA seemed to agree, rejecting Ballmer's offer; the Maloofs subsequently sold control of the team to Ranadive's group.
Considering that the Warriors were in the Top 8 this year.. and that they will call San Francisco home soon.. that makes sense. We're killing it out here guys...
hah >> "He understands technology and startups. He's built businesses," Johnson said of Ranadive. "He's a visionary." The NBA seemed to agree, rejecting Ballmer's offer." As if implying that Ballmer DOESN'T understand and HASN'T built something from the ground up. [backhand]
A friend of mine wrote of this article: "Pity Ballmer didn't get it. The less time he has to spend on Microsoft, the better off the company will be."
Ranadive's story is amazing. "However, opponents underestimate Ranadive to their peril. He coached his daughter's hoops team to victories over bigger, more experienced squads by employing a full-court press. Using that unconventional and exhausting defense, he said, meant making sure his middle-school athletes were better prepared than the competition."
Ballmer can keep at it. Eventually the NBA will expand and he can bring back the Sonics then.
Shawn Kemp x Gary Payton!
The 49ers' embrace of tech gives them an advantage over other football franchises.
Pro sports franchise owners do seem like a fraternity:
Ranadive has to sell his stake in the Warriors as a condition of taking the lead in the Kings' purchase, which valued the Maloofs' 65 percent interest at a reported $347 million. But he's hardly the only techie infiltrating the ranks of NBA ownership. Eight of the league's other 29 teams feature tech executives or investors as their sole or majority owners. Other well-heeled Silicon Valley denizens are minority owners, including Silver Lake co-founder David Roux (Boston Celtics) and Chris Kelly, an early Facebook employee who's now part of Ranadive's ownership group.
By contrast, tech moguls own five of the National Hockey League's 30 teams -- among them Hasso Plattner of the San Jose Sharks, who cofounded German software giant SAP. Only two Major League Baseball owners -- Liberty Media Chairman John Malone (Atlanta Braves) and Nintendo Chairman Hiroshi Yamauchi (Seattle Mariners) -- owe their fortunes to tech. In the National Football League, there's just one: Microsoft co-founder Paul Allen, who owns the Seattle Seahawks as well as the NBA's Portland Trail Blazers.
Courtney Brunious, assistant director of the University of California's Sports Business Institute, said part of the reason is that NBA and NHL teams tend to cost less than baseball or football franchises. In addition, he said, "The NBA's group of owners consists of a pretty diverse group that has generated their wealth across industries, which can make it easier for new owners to gain acceptance."
And, he added, those owners tend to have adopted more of a "tech-friendly culture" than their peers in older leagues such as the NFL.
I remember seeing MLB doing a featurette espousing their new MLB.com entity - "All MLB, all day, 162 games a year, content 24/7!" - which helped bring light to the emergence of large-scale, shared-use, LED wall screens for media/content broadcasters.
It just seems that the major Bay Area sports teams have very strong organizations, leadership, and cultural connections/cache. Meaning the tech/business/intellectual culture permeates their operations.
They do now. Big change from five years ago!
crazy huh, i wonder about the chain of events that led to it all...
Shifts in ownerships and general managers kicked it all off.